St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-15

coinage value the aggregate sum of the
treasury notes authorized by that act)
all the remainder of such bullion shall,
be deemed available for the Issue of
silver certificates; such remain
der or surplus bullion shall
be coined into standard silver
dollars, and such dollars shall be used
for the redemption of silver certificates,
as now required by law; provided that
this shall not be deemed to alter or
amend any provision of the act of July.
1890. The second section provides that
National Banking
associations shall be entitled to receive
circulating notes to the value. at par. of
United States bonds on deposit. not,
however, to exceed the amount Of
capital stock actually paid in.
The bill was read and referred to the
finance committee.
Mr.. Hill Dem.. New York; here
offered resolution declaring it to be
the sense of the senate that no legisla-
ton other than legislation pertaining TO
the finances shall be considered at the
present extraordinary session of con-
gress. He asks that the resolution lie
OH the table for the present.
Mr.. Stewart ORep. Nevada) sent to the
clerks desk to have read an article
from the New York Recorder. headed
Give US Free Silver"
After a portion of the article had been
read. objection to its further reading
was made by Senator Hoar and Senator
Hawley, and the article was ordered
printed as document-Mr. Stewart re-
marking that the Recorder was the first
great paper in the city Of New York
that had said word against the annihi-
lation and destruction or half the money
of the country. and that that showed
either that the sentiment of New York
on the subject of silver was changing or
that the Recorder was a very brave
paper.
MIR. Hoar tRep. Massachusetts, gave
notice that he would tomorrow call up
the resolution as to the Montana sena-
toriai case land would after "Wednesday
press 1t to a conclusion, to the exclusion
OF all other business.
Mr.. Vest (Dem.. MissourD called up
the resolution offered by him last Tues
day, favoring bimetallism and the free
and unlimited coinage of both gold and
silver, without discriminating against
either metal, but maintaining their
| parity.
Before beginning his speech in sup
| port of the resolution, Mr.. Vest had
| read the declarations in the Republican
| and Democratic platforms oh the sub.
| ject of silver, in order to show that
both parties were practically agreed on
that question. He said that it was time
! for the people of the United States to
know whether politics were a juggle
| and
A Fraud,
or whether the solemn declarations OF
parties were worthy the confidence of a
| free people.
Taking up the Sherman act, Mr.. Vest
| spoke of it as q houseless and homeless
| Legislative dog. with no one even to give
it bone. and without being able to find
kennel in which to hide its dishonored
head. And. nevertheless, he would vote
against ITS repeal without a guarantee.
as solemn as the great necessity of the
| people, that Sllvee shall exist in the
! United States as a money metal. s-He
had been known as the firm andAtn.
shrinking friend of the president of the
| United States, and had in all his cam.
| paign speeches in Missouri declared MI
| Cleveland 10 be bmetallist like him
self. and that the only differed in refer
ence to the ratio. He had, the right
10 make. that statement, because Mr..
Cleveland had accepted the nomination
which pledged the Democratic party tC
bimetallsm. 1t had been as vel
known that the Democratic party stood
on the doctrine of bimetailism as that j;
| had met IN Chicago and nominated Gro
yer Cleveland for the presidency. He
did not undertake to say now that the
president was. opposed to bimetallis M
or that he would not give his executive
| sanction to measure to coin silver at &
commercial ratio with gold; but he die
undertake to say that the presidents
message was most significant for what
it failed to say. He undertook to say
with the greatest respect for 80.
The President, ~
| and without the slightest doubt of his
honesty of purpose, that when he failed
| Gn that great state paper TO say ont
word in respect to bimetallism. he Ger
tainly meant that consideration OF the
| question of the free coinage of. silver
at any ratio, was SO impracticable that
it did not need executive notice. AS Il
the assertion that silver should be de
m0netized because it fiuctuated in value,
while the value of gold was stable, he
| read an extract from what he called "a
remarkable pamphlet" written by Mon
teith Douglass. business man of Lon.
don, before the closing of the Indian
mintS, pleading with the people of Grea
Britain in favor of bimetalllsm. as tn,
only sure foundation for financial ex
istence, and declaring that silver hal
really fiuctuated much less than gold.
in replying to questions by Mr.
Gray, of Delaware, Mr.. Vest as;
serted that any discussion ,,oi
the subject would be imperfee
and unsatisfactory which did DO
admit, on both sides, what was known
to every intelligent man, that. if the
volume of money was increased, the
price of commodities went up, and tina
if the volume of money was decreased,
the price of commodities went down
He had seen the day in the vicissitude.
in his life when $50 of paper would no
buy a loaf of bread. and when a S. golC
piece would buy house and lot. L
was not necessary for him to say when
and where that was, because he did no
wish to revive war issues. Laughter.
And so, if one half the coin currency Of
the country were struck down. the bur
dens of those who owed money would
be doubled, anu the prices Jf commodi
ties would be put down, beyond compu-
tation. "
NIr. Horace White
had stated In a recent article in tn
New York Evening Post that he hopet
that day would come; that he wanted t
see everything cheaper, because tha