The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-09-02
PROCEEDINGS IN THE SENATE
The Repeal Bill Has the Right or Way
Senator Vanee,s Speech.

NbO 14Spobt MAJ the hight OF way
Senator Vanee's Speech.
WASHINGTON. Sept LIN the Senate calen-
dar Of to- day the House bill repeating part OF
the act Of July IA. 1890. stands under the head
OF unfinished business" and the bill for the
issue Of circulating notes to national banks
stands at tho head Of the bills under the head
OF general orders" The meaning Of that 10
that ct 2 P. M. each day III not previously
taken up on motion) tho Vice President will
lay the repeal bill before the Senate. and that
II. prior to 2 o'clock. the calendar be taken up.
the bank bill will be first in order and will re-
main before the Senate till P. NJ.
Mr.. Teller rep. COLI offered resolution
directing the Secretary Of tho Treasury to fur
nish the Senate with a statement giving tho
aggregate amount OF silver bullion purchased
under tho act Of 1890 during the month Of
Auaust. 1903. with the cost thereof. the
amount. date. and price OF each purchase.
with the amount OF silver bullion offered for
sale in August, and the amount and price OF
each offer.
Mr.. Turpie Dem. Ind.) said that he would
like to have an additional inquiry inserted in
tho resolution: that was. the question how
paid for" The statute provides. said Mr..
Teller. that silver bullion shall be paid for in
treasury notes. Nevertheless" said Mr..
Turpie. u would like to have 1t put in the
resolution" There was no objection on the
part OF Mr.. Teller. and so tho resolution was
amended to meet Mr.. Turpie's wish. and was
then agreed to.
Mr. Voorhees, remarked that the House bill
to repeal part Of the act Of July IA. 1890 tthe
silver repeal bill had been yesterday made
the unfinished busine ss" and that IL would
In the regular course be placed before the
Senate at . o'clock. But. as the Senator from
North Carolina (Mr vance, wished to address
the Senate now. he (Mr. Voorhees, would move
to take up tho repeal bill in order to accom-.
modate that Senator. He did not understand
that such action would interfere with the bill
oslng the regular order Of business at and
SITTER o'clock. He asked the Vice-Presi-
dent whether he was correct in that under
standing and the ice-President said that he
was.
Thereupon the House bill to repeal part OF
the Sherman act was taken up. and Mr.. Vance
SOem.. n. e.. one OF the minority members OF
the Finance Committee, addressed the Senate
In opposition to the bill Mr. Vance delivered the
speech from printed slips brought close to his
uSon by ny . half dozen large volumes piled
very humorous, and the witticisms which gilt
tered all over the production were provocative
o. iIequent peals OF laughter on the floor and
In the galleries.
SENATOR vANcE's SPEECH.
M; vance began his speech with the state;
n mena that the great law OF supply and demand
everything else. When money was abundant
p pricss we're high; when it was, scarce the
hrlces OF all products were low. Therefore he
I utst increased the abundance Of money bene;;
MED production and enhanced pricea and
Wages ana he that contracted or diminished
.he amount OF this money deprecated every
ih.hg that is for sale including wages. though
w reason OF combinations, and defensive
measures In many parts Of the world wages
are Affected les, than products. The effect
,ubpn the condition Of mankind which would
do lrn ~ al of fhsa
re,cy Of the w0rld amounting in the asgre-
gate To- $1,000, OOOOUO. II would De impossible
accurately to describe. still this process OF
IIsetnsuction has been going on quietly since
nois. and It's result Is seen In prices lower In
memory Of man.
nj. Vance then began . discussion OF the
history OF the decentralization OF silver. taking
- MS starting point the action Of Great Brit