The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-30
BUREAU OF THE SENTINEL.
WASHINGTON, D. c., Al

WASHINGTON, d. c., Aug. %.
Senator David B. Hill of New York
was the drawing card in congress today.
The galleries were crowded to hear him
and nearly every senator was in his
seat, giving the closest attention. He
succeeded in making his position clear
on the purchasing clause of the Sher-
man act. declaring that he would vote
for unconditional repeal. But of course
he could scarcely be expected to deliver
set speech without getting In a fling
at President Cleveland. In doing this
he was compelled to treat as actual
facts the newspaper reports that the
president is attempting to influence con-
gressmen to sustain his financial policy
by promises of federal patronage. Sena-
tor Hill wanted it understood that he
would vote his honest convictions "un-
Influenced and interrupted by the
power of federal patronage" which is
undoubtedly true. 1t is also equally true
that other senators will do the same
thing.
One of the most notable things in con-
hection with the silver discussion in both
house and senate has been the number
of gentlemen representing free silver
constituencies who have announced their
determination to vote for the uncondi-
tional repeal of the Sherman law. The
changes of votes that have been prom
ised cannot be attributed to the influ-
ence Of patronage. the placing of one
or two constituents in lucrative berths
in the government service. Nor can
they altogether be the result of the
action of India, the last country to close
its minis to the unlimited coinage Of
silver. These considerations may have
had their relative weight in individual
cases. but as matter of fact the really
important motive governing the action
of these members has never yet been
rinted at. What has had he most in
fuence in their apparent change of
front is the knowledge they possess that
important and far-reaching action will
be taken in behalf of silver to maintain
ii on a parity with gold after the pur-
chasing clause of the Sherman act has
been repealed, and that the administra-
ton is pledged TO carry out the policy
Shortly before President Cleveland left
Washington to return to Buzzard's Bay
after having witnessed the opening of
the present session of congress, he called
several leading democratic members of
both the senate and house into consulta-
ton with him. He wanted to know the
prospects Of action In the two large
houses on the lines indicated in his mes
sage. The members of the house, even
at that early stage of the session, were
confident of a successful issue to their
fight in that body. They told the presi-
dent that unconditional repeal would
have a majority in their branch Of con-
gress. The senators, however. were du-
bious. At the time the prospects of the
passage of the administration measure
were far from being bright, and they
told Mr.. Cleveland so. The president
was vexed at the possibility Of defeat
Whether he was unwilling that his sec
ond term should open thus inauspicious
or whether he made the proposition out
Of difference to the declarations of the
platform upon which he was elected. is
not told. But he authorized the sena-
tors to promise to the silver men that
legislation for the white metal should
follow the repeal of the purchasing
clause of the Sherman act and that
such a measure would receive his sigma
ture. President Cleveland's proposition
was as follows: That all the silver bull
lion now in the treasury, amounting to
1S3.161. 375 fine ounces, should be coined !:
that the Sherman notes should, as they
were presented at the treasury, be with
drawn from circulation and silver GER
tificates issued in their place; that a
currency commission should be ap-
pointed to devise. by a study OF the
financial systems Of this and other coun-
tries. such a sound and stable currency
of gold. silver and paper money as
would be sufficient in volume and effect
for the proper transaction OF the bust
ness of the country. and that the silver
men should have strong representation
on this commission.
BY the first OF this suggestion the
president met the demands Of the south
ern silver men for an increased volume
OF currency, for the seIgniorage on the
coinage OF I33i61.375 ounces Of silver
bullion would amount in round figures
10 $50, 900 900: that S50O00.O00 would be-
come part OF the available cash assets
OF the treasury and would increase by
that sum the amount Of money avail
able for the payment OF government
debts and contracts. There are out
standing in round figures s14s.O0O. 900 Of
treasury notes. BY Withdrawing them
gradually and issuing silver certificates
IN their place the gold reserve. which
has recently been encroached upon to
redeem these notes. would be protected.
BY the agency Of "A currency commission
Il would be possible 10 provide an elias
tic system Of currency which would
grow with the growth Of the country
and provide for the ever-increaslng use
OF silver. while maintaining IL on a par
ity with gold at the same ratio as at
present. This plan was accepted by the
senators present at the conference and
has since been submitted TO certain
members OF both houses Of congress. all