Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-10-29

sired the assistance of the Legislative
department. And until this Is done
say with great respect for the sena-
tor from Ohio do not how can loriiiu-
late a proposition TO assist a. CONDITION
OF which We are not advised oiiiclaliy'
ISSUE OF BONDS.
II believe that the enactment or 1870
gives authority to the Secretary OF the
Treasury 10 issue bonds, and the Secre-
tarv OF the Treasury believes the same
thing himself, and when he says he be-
lieves he has the authority 1 Deiieve
him. StJll. 1 believe that when we reach
the question. the law should be modihed
10 the extent of authorizing the issue or
bonds at n lower rate of Interest ana
for a shorter term. ! would not have
them issued In the interest OF bond
buyers. or bondholders. but in the inte-
rest OF the public-in the interest OF the
taxpayers
~ think the Senator from Ohio IS right.
/ understand him 10 occupy the position
I'm this respect which l do-that If bonds
are 10 be issued they should be issued
for a shorter term and at a lower rate
of interest, so that the public may take
them up, and so that they may not go
into the hands Of bankers as founda-
ton for national banking. But, sufiicient
to the day Is the evil thereof. We nave
no need 20 jump the ditch until we get
there When the pending legislation Is
completed; when we are free from the
incubus which rests on the public conii-
dence: when the national nightmare Is
removed. we can take up the subject In a
wholesome way and legislate on 1t.
THE NATIONAL CREDIT.
Let no man gainsay the safety OF
our currency or OF our obligations under
this administration In the year 1893. The
Democratic party is devoted to the honor
OF the country. It's honor is allied to and
embedded in the integrity of its finances.
when the Senator from Ohio sounds II
note OF alarm and says that something
must be done TO protect the national
credit | say 10 him that the national
credit Is I'm safe hands at this time; never
has IL been in safer hands. We may
differ among ourselves on this side OF the
chamber but we will do so without acri-
mony and without impugning each others
motives.
BERRY'S AMENDMENT REJECTED.
The yeas and nays were demanded,
and resulted-32 yeas. 81 nays-as fol-
lows:
Yeas-Msssrs. Allen, Bate, Berry,
blackburn. Butler. Call Cockrell, Coke,
Daniel. Dubois. Faulkner, George, Har-
ris, Irby, Jones Of Arkansas, Jones of
Nevada, Kyle. Martin, PETER, Perkins
Pettigrew. Power. Pugh, Roach. Shoup,
Squire. Stewart, Teller, Vance, Vest, Wal
thall, and Wolcott-32.
| Nays-Mfessrs. Aldrich, Brice. Caffery,
Cameron. Culom, Davis, Dixon, Dolph,
Frye, Gallinger, Gibson, German, Gray,
! Hale, Higgins, Hin. H0ar, Lindsay,
Lodge. Mcmillan. Mcpherson, Henderson,
| Mills, Mitchell OF Wisconsin, Morrill,,
! Murphy, Proctor Quay, Ransom, Sher-
man. Smith, Stockbrldge, Turpie, Villas,
! Voorhees,. Washburn, and White OF
I Louisana-37.
/ Senator Pasco voted yea; vote with
drawn.
SUNDRY AMENDMENTS LAID OUT
| Mr.. Allen offered an amendment pro-
vldlng for the free coinage of silver al
the ratio of Is to !, which came at once
/ to a vote without discussion. 1t was de-
| feated-a yeas, Al nays Mr.. Blackburn
offered an amendment providing for coin
| ing the American product, the value VI
the seisniorage to be established each
month by the Secretary OF the Treasury
| Mr.. Stewart spoke against this amend
ment, as the Secretary OF the Treasury
would have the right TO sell this bullion
and fix the market price, thereby giving
| tho Secretary undue authority. Mr. Black
! burns ammdment was to coin the
! American product. The amendment was
| lost-yeas. Is; nays, AZ. Mr.. Stewart
/ offered an a.lfndme1t authorizing the
! President TO invite the South American,
and Central American republics and Next
CO to send representatives to assemble
within nine months and hold a monetary
/ conference to consider the feasibility OF
| establishing free coinage. The amend
ment was defeated-32 yeas, Al nays
Mr.. Squire presented an amendment pro-
vidlng for practical free coinage, except
| that the deposition should receive standard
| silver dollars equal to the value Of the
bullion, and providing for the delivery
OF notes to national banks TO the full
extent Of bonds on deposit. The first and
| second sections, providing for deposits
coined, and that the product should bt
a legal tender in all payments, was
voted on first, being rejected-20 yeas, 4.
nays.
Mr. Squire said that this vote only en-
| phasised the statement of the Senator
| from Indiana that no amendment, how
ever mertorious, would receive consldera-
ton at This time. He withdrew the re-
naming sections Of the amendment.
Mr. Butler, who had given notice Of an
amendment 10 repeal the ten per cent tax
on State banks, stated that he had con-
| CllQeQ uOI " pICHo IT. UrNAD dSoAA 80
that the Committee on Finance would
give It consideration later. lie therefore
withdrew It.
| ANOTHER PETER AMENDMENT.
Mr.. PETER offered an amendment for
an issue of $3.50, 900 OF dollars In Trea-
sury notes, similar to those issued under
the provisions OF the act OF July IA. 1890,
TO be redeemable for all debts and dues
| al ovoapdroapf and
Mr.. Bate asked that 1t so over until
Monday and be printed.
| This called Mr.. VOORHEES, to his feet.
who said that he would like to get as
| many OF the amendments behind him to-
| night as was possible. He did not want
an agreement. for there were senator's
who preferred not to make one. but he
desired to say that he hoped for and ex-
pected a vote Monday on the main ques-
ton, and said he should ask for vote
on that day about 2 o'clock In the after
noon. He made this statement so that
senator's could govern themselves accord
| ingly.
Mr.. PETERS amendment was defeated by
q vote OF So to 7.
Mr.. Allen then introduced an amend
ment making the dollar OF i2is grains
| the unit OF value and a legal-tender for
| all debts, and providing for free coinage
/ less % per cent. for seignlorage. which
seignlorage Is to be coined into dollars
and covered INTO the Treasury. The coin
age provisions OF the Bland-Alllscn act
were made applicable to this amendment
/ 1t was lost by a vote OF Al to q.
! Mr.. PETER then came forward with
another amendment to the effect that all
| coin and notes OF the government should
be OF equal and exchangeable value and
purchasing power. and receivable for
taxes and dues and In the payment OF
debts to any amount whatever. This was
lost on a viva voce vote.
Mr.. Pasco gave notice Of an amend
ment he would offer Monday. but 1t was
| not read.
THE BILL REPORTED.
The bill was then reported from the
| Committee of the Whole Ia the Senate
] and the Amendments agreed to In COM
mittea were agreed to In the Senate. This
places tho Voorhees, bill squarely before
| the Senate proper with the understanding,
however that 1t is still amendable.
After q short executive session. on mo-
| ton OF Mr. Voorhees, a recess was taken
at 5:l5 until Monday at II o'clock.
MR.. sHERMAN'S SPEECH.
At the conclusion Of Mr.. Wolcotts
speech In the Senate to-day, which speech
breathed defiance TO the East Mr.. Sher-
man arose to address the Senate. The
people OF Colorado. he said. had his pro-
found respect, and II this were a questio
/ an al txfNo D..