The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-09-23
rHr SILVER DEBATE.
synopsis ~ the Discussion in the United
States Senate.


synopsis ~ the Discussion in the United
States Senate.
On ths 9Th Mr. Faulkner dem, w. vA)
spoke on the silver question. He announced
his intention TO vote for the repeal bill, but In
doing so expressed his belief In silver -
money metal and declared his intention Of
bringing In on amendment to the pres
ent bill providing for the coinage Of es,ooo..
900 of silver per month until
the aggregate circulation OF silver OF the
country shall reach $500, 900 900. No evidence
was furnished, he said, TO show that the charge
30 freely made, that the purchase Of 100000
ounces Of silver per month has been the chief
disturbing element In our financial system was
true, and he contended that the want OF con-
Hdenoe which had been manifest by the people
was q want Of confidence In our financial inst.
tutions rather than in any particular kind OF
money.
Mr.. Turp.s dem, lnd) advocated bimetal.
lism. The issue which confronted congress
was not whether silver should bs further
used rs money, but whether its purchase
should be continued. Tho very act Of
purchasing was discrimination against
silver, because gold was brought to the treas.
ury. He predictnd that an epoch Of free trade
was about to appear and Of freedom Of the bal.
lot, and there could be no doubt that when
those two things were secured the free coinngs
Of silver would necessarily be brought about
| Mr.. Jones (dem., Ark.) favored tho repeal Of
| He would vote against the pending bill and
, would resist its enactment into law as long %
| possible unless 1t were coupled with some
| measure recognizing silver and providing for
an expansion Of the volume OF the country's
| money.
| On the 9th Mr.. Teller (rep., Col) spoke on
| the repeal bill He began by referring to the
| "lecturing' which the senate was receiving
| from the newspaper press OF the country. Sen.
ators, he said, were ordered as II they had mas.
l nd ruft thNtt n1t tI.Ar fnr tN HA
| with hot haste that which in the judgment
of II not majority at least q very respectable
| minority Of the senators would be very dis.
astrous thing to do Not only had senators
been told that they must vote 1t once but 1t had
| been asserted over and over again that senators
| who represented states fortunate enough to be
filled with mineral wealth were representing
| their individual interests and had not oven the
| right to vote on the question.
Mr. Teller then quoted from New York
| papers as to the alleged pressure which the
administration was to exert on the house and
senate for the passage Of the repeal bill He
read = dispatch from the Washington corres
spondent of the New York American stating that
the negotiations for the surrender OF the silver
democrats in the senate were At an end, that
the administration insisted on unconditional
surrender; that Senator Vest was now the
angriest man against the administration that
could be found in the country and had threat
sned to join in delaying action.
Mr. Teller yielded to Mr.. Vest dem, MOI,
who said: "lf there is any ultimatum coming
from the president 4: is not known to myself
nor to any Of my associates. However much
we may differ from the president none OF us
ghul ever come to the degrading conclusion
that he will send y message to United States
senator's seeking to control their action As to
what is stated in regard to my action about de.
lay tits simply and Internationally false, and
, the product Of newspaper Imagination melted
! by newspaper rivalry"
| Mr. sarcastic
allusions to what "purported to be o telegram
from the president Of the United States 70 q
member Of congress congratulating him and
his associates on the passage of the repeal bill
by the house Of representatives" The
speaker wanted TO know. I'm wen-feignsd
sstonishmenD II anybody could tell him
that 1.-THE president of the United
States was guilty Of that gross breach o.
public decency? Why, Of course 1t was news
paper yarn and a newspaper falsehood. The
, president of the United States attempting
] to procure legislation, having carried II
, from his summer home at Buzzard's
, Bay. sent his thanks-we told
to Mr. Wilson and his associates Incompre
hensiblel Impossible! What further need d.
you require of the mendacty Of the press?"
Mr.. Teller then addressed himself to thu
Sherman act, alleging that under It for ovel
two years the country had been prosperoul
D and that its only influence had been beneficial
Y Before the conclusion Of Mr.. Teller's remarks
n the senate adjourned
a On the llth Mr.. Pugh dem. Ala.) spoke II
opposition TO the repeal bill He said 1t wa
the determined and unalterable purpose Of tn
9 opponents of repeal to stand upon their con
;. victions Of public duty and fidelity to thei
= pledges to the people whom they represented
and who had honored; h EN- with their conf
dence on the vital question, until their physica
strength was exhausted
}. Mr.. Teller rep, COLI resumed his speecl
" sgaint tho repeal bill He asserted, and he be
lieved it could be demonstrated that Il It ha'
Z not been for . preconcerted effort in tn
9 money center Of the country to preven
= 1t, the lst Of September would hav
- seen better times in the finances Of tn
3 country than the people were experiencing te
day. The calling Of congress did not reliev
the country; in fact. tho condition becam
worse from the time congress was called in e1
traordinary session. Mr.. Teller said he woul
d ception of the cause for tho recent distresse
condition. In his opinion 1t was due to legisls
tive misconduct
g Mr. Teller next directed himself to stock OF
Is erations. A New York paper had pubishe
l. daily for some time the depreciation In value
. stocks or the destruction of values occssione
y by the Sherman law, as the paper salt
!" The paper hnd finally got tho amour
up to 00,0000O0 In his opinion . gres
/, many stocks were selling on the marks
=. to-day for more than they were worth. Il
70 cited Northern Pacific, which he said hu
70 fallen from 70 to H. 1t was said all the grei
1t owners connected with it unloaded when It wa
m TO- That company had $3.50, 000,O00 of Il
. debtedness; N5.000,0O0 held in German!
:. great amount owned in Holland or
o1 England. He then instnnced Erie stoc
ID He did not suppose anybody pretonds
m that Erie would ever pay out He ne,
N referred to Reading Did any intelligent ms
- believe that any OF those three great concern
10 were solvent? Did not everybody know tn,
lt were insolvent? This disturbance did not con
n. from the Sherman law. 1t came from the mi
=, conduct of officials Mr.. Teller sa
=" he did not mean to say criminal miscondut
10 but that they did not deal fairly with their
r. vestors. 1t behooved congress, he said, whit
al It came 10 legislate upon this subject to fl
!, the cause of the evil, aud, II within its powe
= to remove the evil.
Mr.. Teller then yielded to motion to 20 In
executive session, saying that he had reached
n point where he could quit for the present ~
ID he would take up another branch OF the subje
some other dav.
- On the 12th Mr.. Mitchell (rep., Ore) spoke
80 opposition to the repeal bill. He said that d
ne fundamental problem to be solved was: IA
he we to become nation OF monometallists al
~, II SO. whether gold or silver monometallists
~ He denied that the Sherman act had been Z
lg cause OF the panic. The causes leading
c. to 1t were In part world wide and the
n. origin not In this country, but In srec
"A lative dealings between London bankers a.
." the people OF South America, which result
OF (through the Argentine bankruptcies and t
no fall Of securites) in bringing ruin to the doc
of the Barings and other moneyed institution
The same causes-overtrading and land spec
lation = brought bankruptcy to Austral
Thaaa urant and unpY Dected ShOCltS TO L