The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-12

States should come fo tho sold standard
or should cling Oh fh. U-. and .Hrsi tI.
ti1nal union Uf gold and silver a- 3D. .i.Hl-
ard 90 value n tl, sherman .1w were
rcpo4led iu order tO restore confidence
among lenders. The lion ni His.U.' 'Ht
among The taiIur millions would Joe
I awakened. whose roar would shake 'nt
+ continent Referring to the NATIONAL
/ banks. Mir Push accused them of array
ing themselves iu open hostility On silver
and silver certificates. and 0f doing every
+ thing 10 their power Oh di~creiit both. 100
utter disregard of the law and The dee
clared public policy of the United States.
WALL STREET. As USUAL.
/ Whenever laws had been passed by
/ congress 20 promote the circulation of sll-
yer and of silver certificates. the national
banks of the east and especially those Of
New York city. Immediately called "a
meeting, sat in judgment on the leglsla-
tiOn Of congress, publicly condemned IL,
and declared their purpose not 20 obey
the law but 10 nullify il. Their claim of
supervision over the financial legislation
Of congress and the execution Of the cE-
eCutlve department of the government mad
been recognized and tolerated until il had
grown into an established practice
and to-day no other authority was con
suited In the formulation OF rcmedla. Leg
islation MIR. Pugh recalled President
Cleveland's hostility 10 the coinage OF
silver under the Bland Allison law. The
disastrous consequences Of adding 1000
600 per month Of 73-cent dollars should
have been strongl- and earnestly pre-
sented by the President and Secretary
Manning: and the arguments then urged
against il were the same. substantially.
as those contained I'm the late message of
the President against the further exist
ence and operation of the Sherman law.
II GRANT HAD BEEN A sILvERITE.
If a friend Of the free coinage Of silver
had been in the Presidential Office at the
time Of the passage Of the Sherman law,
a bill for the free coinage of silver at the
existing ratio would be the law at this
hour, and with no danger of its being re-
pealed; andifMr Cleveland were known
to be willing TO approve bill for the free
coinage of silver, on some reasonable
ratio, such a bill would become a law at
the present session. An unconditional
repeal of the Sherman law would neces-
sarily remand silver back where it was
under the act of 1873. and whore il was
in all gold-using countries That act had
been no .'makeshift' 1t had made a
clean sweep of silver as money. Such a
repeal would be not a cOwardly make
shift, but an unconditional surrender to
the oddities. He would as soon trust
chickens in hawks nest to be cared for
as leave silver where it would be if the
Sherman law were repealed uncOndi-
tiOnally.
UNCONDITIONAL REPEAL, NEVER.
He should never vote for the uncondi-
tiOnal repeal of the Sherman law An
unconditional repeal of any law without
subs tituting another was an unqualified
admission that no such legislation is nee
essary; and the chances of securing the
new remedy in a separate bill were dimin-
ished
In conclusion Mr.. Pugh said 1T is
the determined and unalterable purpose
of the opponents Of repeal to stand
upon their convictions of public duty
and fidelity to their pledges to
the people whom they represent, who
have hOnored them with their confidence
on this vital question until physical
strength is exhausted and the power of
speech is left to no senator to prevent the
success Of the conspiracy denounced by
John c. Carlisle as equal in its conse-
quence to war, pestilence or famine"
Mr. Pugh finished his speech at $3.50
O'Clock, having spoken for exactly two
hours and half
ANOTHER CHAPTER OF THE SERIAL.
MIR. Teller resumed the floor and his
"to be continued" speech shortly before
) o'clock While he was making an ar
gument to show that the proceedings in
the New York stock exchange had much
to DO with creating good or bad times,
he made a long pause, which Mr.. NOor-
hees rightly interpreted as a signal that
lie wanted to stop, and so Mr.. Voorhees,
proposed a session for executive business.
before yielding, however, Mr.. Teller
said he would not have an opportunity of
going on 10 morrow; that two other sena-
tors had given notice Of an intention TO ad-
dress the Senate and that he had reached
a point where he could quit for the pres
ent, He would take up the point in the
case some other day
The Senate, at sos o'clock, after short
executive session, adjourned till to-mor-
row.