The Providence news. (Providence [R.I.]) 1891-1906, 1893-09-09
The Senate Making Little Progress
Towards Repeal.
SENATOR FAULKNER'S POSITION
The West virginian In Favor Of silver.
but VIII Vote for Repeal Of the sher-
man Law-ssnator rroctor's Humer-
Gus Retort.

wAsHINeroS, Sep 9.--An analysis Of
the votes east In the House on the 20 ult.,
together with the statements made BY q
number of speakers, who voted for the re-
peal Of the silver-purchase clause Of the
Sherman law, have Led some friends of
silver to assert that so far as the House u
concerned the question of free coinage of
silver il not settled by any means, and cer-
tainly not in the negative. While the
proposition to renew the coinage Of
silver at the ratio of ono to sixteen
received but 124 votes, in the course OF the
balloting on the various other propositions,
at coinage ratios of from ~ to to 20 to /,
the revival OF the Bland-Allison act Of
1875, and the repeal of the purchasing clause
of the present law, 1856 members In all
voted for the use Of the silver ~ money
and are all claimed as free coinage men by
the advocates OF that policy In addition
to these are added by the sanguine silver
men, Speaker Crisp, and all those
who. in the course Of the debate,
expressed Willingness under other
conditions TO vote for free coinage. These
are estimated at 25 which, with the 155 on
record, would make majority. Upon this
basis free silver men in the HOUSE say that
II the Senate should amend the voorhees,
bill by adding some provision for the COIN
age of silver, il would be passed by the
House. And they profess themselves to DO
greatly encouraged over the prospects OF
some such issue OF the present controversy
by the development in the Senate of the
past few days.
WASHINGTON, Sep. Senator Faulkner,
Of West Virginia, relieved all doubts as to
his position ON the silver question by .
speech clearly defining his views.
Referring to the Presidents message, Mr..
Faulkner spoke of the sterling integrity
and unhinch;ng courage of It's author
But II after a full consideration of the
views of the President he should honestly
differ with him In his conclusions he could
not surrender his convictions without being
unworthy his seat In the Senate. Many Of
the causes which had undermined public
confidence could be traced to events which
had occurred beyond the boundaries Of the
Republic.
Assuming that the great commercial ma
tions of the world, including. the United
States, were to-day committed to q
single gold standard, every hour of study
strengthened his convictions that 1t would
be as unwise as it would be impossible for
the United States to attempt to establish
free and unlimited coinage Of silver at any
ratio and at the same time preserve tho
parity between the two metals. Gold and
silver were governed by the same princi-
Piles as other commodities. He would vote
for the repeal OF the Sherman law not be
cause he believed it to be the cause of the
present business depression, but for
~
First, the authority conferred upon
the Secretary of the Treasury presented a
constant menace and tended to depress the
price OF silver bullion. Second, in the ex.
ecution of its provisions IL had been the
fruitful source OF the strongest arguments
against the use of silver as part of our
monetary system. Third, the people be-
lieved, however enormously, that the pres
ent disturbance was mainly due to this act
and that its repeal would assist In restor-
ing confidence the want Of which, was the
chief obstacle to the restoration of business
activity.
In conclusion Mr.. Faulkner said that
although he should vote to repeal the
purchasing clause OF the Sherman act hs
hoped that he would not be called upon to
do 80 without having first secured an
amendment to the bill now pending before
the Senate, which would, by law, and noe
by q mere declaration. give notice to the
world that this government would exercise
all It's powers in favor Of the re- establish
ment OF silver on an equality with
gold. Provision should be made
for additional coinage OF full legal
tender silver dollars at the present
ratio to an amount that would be rapidly
absorbed In the business transactions Of
this country, the aggregate amount, in
cluding that already coined and the silver
bullion in the Treasury, which should b
directed to be coined, not to be less than
eight hundred millions, the coinage no
quired to be not less than three million per
month until it reaches the aggregate limit
He declared his intention OF submitting
such an amendment.