Morning journal and courier., 1893-08-26
NlUO vi lLILuull II.
From All Quarters
VIEWS OF SENATOR HILL
Depression Not Caused by
the Sherman Law.
WONDERFUL WORK BY NANCY HANKS
She Did a Mile in 2::08 at
Hampden Park.
ACTOR CURTIS GAINS AcRUITTAl
Jury Believes Him Not
Guilty of Murder.
BEYOND THE SHERMAN BILL.

BEYOND THE SHERMAN BILL.
| Senator Hill Declares That it is MOI
| the Cause OF the Present DeprHssi o n
He Favors the Increase of the Ma
tIonal Bank Circulation.
WASHINGTON, Aug. 25.-Mr. Vest, dem.
Missouri, sent to the clerks desk and had
read a communication from the director of
the mint, sent in response to an inquiry,
giving statistics as to the quantity of oliver
bullion purchased since 1S7S-the date of
the Bland Allison act; Its cost, the amount
coined, etc. Mr.. Vest summed up these
figures in order to show that If all the sill
yer dollars and subsidiary silver coin were
recoined at the ratio proposed in his bill
go to y there would still be profit to the
treasury on the whole silver transaction
since 1873 of SIS, 267, 1898 He intimated
pretty broadly that Mr.. Carlisle, in his let
ter to Senator Voorhees, on the same subject,
had not treated the question fairly.
Mr.. Hill, dem, New York, then took the
floor and began his speech, the opening par
agraphs of which attracted much attention.
There were those Mr.. Hill said, who did
not wholly agree with the president in his
diagnosis Of the malady now affe citing the
body polite, and who did not hastily join
with him in the rosy conclusion that the
financial millennium Is to come the mo-
ment the Sherman law is removed. There
were some who had given the subject at
tention who believed the cause of the
present depression was deeper and beyond
the Sherman bill, and that its foundations
were laid in the evil hours of 1878, when
the country unwlttingly laid aside the
since the foundation of the government.
The existing financial disturbance, Mr.
Hill found, was attributable to three dis
unot causes:
First-It was the natural and inevitable
result of many years of real or fictitious
prosperity.
Second-Some portion of the present
panic could be traced to a concerted effort
on the part of the monometsllists to pro-
duce it in order to disoredit silver
Third-But no matter whatelse may
have contributed to the present financial
condition it would not be denied that the
silver purchase law had been, at least in
part, and possibly the most largely, instru-
mental in producing existing oomplica-
tions.
Mr.. Hill did not believe that simple re-
peal of the Sherman law would at once
restore abundant prosperity, but that
many years would be required to recover
from the present disturbance. He COM
pared his course in declaring for repeal
with the presidents course in failing to
refer to 1t until this late day. He was
bimetallist and stood for free coinage at a
proper ratio. Had the Sherman law been
repealed at the last session OF in special
session on March 8, the United States
would have escaped tho present panic and
precluded the closure of the Indian
mints. Independent free bimetallic coin
age of the United States was not con-
sistent with the counsels of none
tary science. While repeal would not
ing that new tangled monetary theory
gold monometsllism, begotten in the en-
braces of ignorance with rapacity, at least
an uneqnivocal and crucial test The per-
manent remedy for our financial difficulty
was to return to the bimetallism that ex-
listed prior to 1878
Mr.. Hill favored the increase of the ma
tional bank circulation as proposed in the
pending bill.
Continuing, he said he regarded the
question of ratio az not timely and of the
least consequence, but If changed at all it
shonld not be enlarged but dimished to
154, the Latin Union ratio. He should re-
fuse to follow in the footsteps of any ad
ministration that sought to place the demo-
cratic party in a false position and lead 1t
into the very camp of the enemy. The
president must rely upon republican votes
to carry out any such suicidal policy
He did not believe, however, that any
euch course would be taken by the presi
dent by his own volition even under the
inspiration of indiscreet advisers, until
clearer evidence shall be furnished than
now exists. He depicted hasty action in
the formation of definite financial plan,
and predicted the failure of the attempt to
impose gold standard on India. Mean
while the prompt repeal of the Sherman
law was demanded as a measure of tenn
porary relief.
Let US legislate upon the financial ques-
ton, eaid Mr.. Hill, and then next Deem
Der resume the consideration of perma-
nent system. His distinguished colleague
and himself would chee,fully vote for She
repeal bill "unawed by power and unoor-
rupted by federal patronage" He pre-
dicted the passage of the bill by the senate
and that the republic would weather the
present storm.
At the conclusion of Senator Hill'e
speech he WIS heartily congratulated by
| many senators. Senator Stewart of Ne
| vada followed with free silver speech,
| denouncing the pending bill as measure
destructive to silver. -s--~--~--, -.-
| He declared that the bill of the finance
committee was bill practically to demon
etize silver. No man should be deceived
on that point. The promise in the bill
was an insult to the intelligence of the
American people.
L III ~,
not pass. No senator could vote for the
unconditional repeal of the Sherman act
without violating his pledges to his con.
stituents. They had declared on all ocos-
| sions that they were bi-metallists, but this
bill was monometallism.
At the suggestion of Mr. Vance unani
nous consent was given that the vote or
the Lee Mantle Gaze shall be taken at 2 p
m. on Monday next
Notice was given that one of the pend
ing financial measures would be pressed tc
a vote next week, and the senate, after al
executive session, adjourned until Monday
| IN THE HOUSE
The speaker appointed the following
committee to represent the house at tn
proceedings to be held commemorative O
the one hundredth anniversary of the lay
ing of the corner stone of the capitol
Messrs. Bynum, dem, Indiana; Warner
DEM, New York; @Bhck, dem. Illinois
Houk. rep, Ohio; Henderson, rep, lowe
O'Neill, rep, Pennsylvania, and Cogswell
| rep, Massachusetts,.
/ The silver debate having been resumed
Mr.. Pendleton, dem Texas, expressed hi
intention to vote for the free coinage o
silver at any ratio that had been suggested
but at the same time he held the purehas
ing clause of the Sherman act responsible
for the present hard times.
II Mr.. Bowers, rep, California. spoke i
favor of free coinage, and said that tn
vote to be taken next Monday would be
vote as to whether silver Should be d.
stroyed as morey and the country place
upon q gold basis.
Mr.. PIgstt, DEM, Connecticut, spok
briefly In favor of repeal.
i Mr.. Docksry, dem, Missouri, said thl
since the beginning Of history gold an
, silver had been recognized as the none
metals of the world. The practical que
ton was new what ratio woald best mail