The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-08-22
IN THE SENATE.
VOrheeS's V,iIl KApOrted Back.

Mr. Voorhees,, chairman of the finance com
mittee, reported back the bill introduced by
him yesterday to enable national banks to
issue circulation to the amount Of the par
value Of the bonds deposited by them. The
bill, he said had not only the endorsement
Of the committee on finance and of the sec
rotary Of the treasury, but similar meas
ure had passed the senate unanimously last
session lie did not, by any manner of
means. proclaim the measure as one of entire
relief, but he looked upon il as IA measure of
relief. 1t would, to some extent. help the
people. 1t would authorize an increase of
Sl9,J00,OOO of the circulation of national
banks on the bonds already deposited; tnrre
was not doubt that it would result in an in
crease of from forty to fifty miions-an in
,ims: soasc and eq@fors 10 the "V' pcopfn IA
every quarter OF the United States. sNr,..
Lodges RESOLUTION.
AT the close OF Mr.. Huntons So
resolution offered last Tuesto
Of Massachusetts, directing S4Szgcc
finance to report at once a bill TO re -
Imnt n; clauses Of the sherman ADD
that vote be taken on such repeal TuesXfy
the 22d, was laid before the committees FL.
was far far from thinking that the Sherman act
things He believed that the practicaI nfyoct
OF its repeal would be a tendency to lower
lnc rates or interest on money, make money
me hrSt step in restoring confidence was to
lower the present excessive rates of inferesr
EhSiSh money did not come here because,
Enslishmcn had the belief that the Tinted
States might ut any time 20 on tho sinF,n
silver standard. He did not forget. however
that affirmative and positive lorisIation ~
reference to the currency wouJd havn ~ IN In
enacted. That legislation would take timn
thorough consideration and ample discussinr
ne aie believed m,l, that now. more important than
any financial or economical discussion. was
prompt action. What the DeonIa uon Wa3
above everything was to see action-somn
sort Of action in congress- If the ronntrr
LOT tbo
know it. if it was to have a limited co,n,noS
let the country know it, ana if there was to
let the country know it. "o''
At the close Of Mr. Wolcott's spcocb tbo
Lodge resolution was laid aside without an
ton. and Mr.. IIoar addressed the snn,ta ~,
Mr.. Vests resolution Us to bimetalijsm viz
speech was i general discussion of the whoin
question OF the relation Of silver and gold
ana was plea for conservative Spencb and
acton: He announced himself in favor of
both these metals rs currency on a naritv
Wednesday in the senate.
Washington. August 16.-The senate spent
only three hours in session today, but that
time was we'll filled up. Mr.. Vests bin an
propriating 100000 for a site and building
III Washington to be known as the Hail
of Records was passed Then the bill to in
crease the circulation of national banks
was taken up and postponed until tomorrow
for the reason that several senator's had in
formed Mr., Voorhees, that they desired more
was so laid aside an important Amendment
was proposed to it by Mr.. Cockrell-to author,
ize the redemption, at par and accrued in
tercSt of such per cent bondS-over SD
Oo,ooU in alias may be offered, ana TO
authorize the issue of new treasury legal
tender notes i'll payment therefor. The
amendment produced considerable discus
sion.
Mr. sherman condemned it as an unbusi-
neSs-like proposition and Mr.. Cockrell EXPRESS
ed his an-azement and modification that the
friend and patron Of the national banks. the
great gold monometalist from Ohio should
To WniIl1 nrr 50
the amount of currency i'll circulation.
Another am%ndmsnt TO the nm was offered,
cessation of interest on the bonds on which
the increased national'bank circulation should
be based.
Mr. Berry. Of Arkansas, addressed the SEN
ate in favor of the double standard of gold
and silver. 1t was generally agreed, he said,
that the Sherman act was thoroughly bal.
1t was Il law which never should have been
passed and he was particularly gratitied that
not single democratic vote had been cast
for it either in the senate or the house of
Representatives. In an evil hour for the
country the free silver republicans had parted
company with their friends the demo-
cratic side of the chamber ana had CON
scented to the passage of the sherman act
and the repeal of the Bland act: The repeal
ton would in his opinion, place the country
upon \ gold basis; would prevent the future
coinage of any silver and forever practically
not willing to cast mis- , vote for ths god
declared IN favor of bimetallism, and he
Mr.. Berry, was confident that, notwth-
standing the presidents failure to discuss
bimetasm in his MESSAGE +, he would approve
and provided for the circulation of both gold
and Silver on such terms as would give them
equal value.
The Lodge resolution was taken up, with
the Galnger amendment to ito the effect
that il would be unwise and inexpedient to
make any radical change in the tariff prior
to March, 1897: and Mr.. Gangcr addressed
10 ~, To
vote, at the earliest possible moment for
did not believe that that much abused law
was largely responsible for existing financial
evils. His prescription for the evils affecting
the body polite he gave rs follows: LET the
bin permitting banks to increase their crcu-
lation be enacted into law; and let this res
oiution and az1ndment be adopted and con
fidence in our fiananceS will be at once restored
both at home and abroad; trade will brighten
and another era Of prosperity, equal to the
marvellous prosperity of the administration
of President Harrison will speedily come to
the people of the United States"
After a brief executive session. the senate
at 3:15 o'clock, adjourned until tomorrow.