The Providence news. (Providence [R.I.]) 1891-1906, 1893-08-23
VOORHEES, Pictures What His Policy
Would Bring.
SOUND CURRENCY ESSENTIALS.
A Graded Income Tax Also Advocated
The sherman Law Has Friends as Well
ms Enemies Chairman Wilson Believes
tho Ways aud Means Committee VIII Go
90 Work Promptly at Tariff Revision.

WASHINGTON, Aug. 3.-Yesterday there
was gathered within the walls of the SEN
ate Chamber larger attendance of Sena-
tors on the floor and Of spectators in the
galleries than has been seen for many n
day. The occusion was the announcement
that the Senate was to be addressed by Mr..
Voorhees,, chairman OF the Finance COM
mlttee, in support of the bill reported by
him discontinuing the purchase of silver
bullion.
The speech began at 1925 and closed at
p. m, and was listened to from beginning
70 end with close and eager attention.
Both on the floor and in the galleries there
was but one attempt made to divert Mr..
Voorhees, from the Current of his speech,
but he declined, absolutely, to yield to any
interruption. There was also but one
manifestation of approval from the CALLER
les, and that was promptly suppressed, and
Its repetition forbidden by the Vice Presi-
dent.
In conclusion Mr.. Voorhees, named the
following five essentials OF sound cur
rency, which, no rbeiieved, would follow
the adoption OF the policy he advocated;
First-A sufficient volume Of currency
at all times, State and national, on prac-
tically specie basis, guaranteed also 10y
public honor, with which to transact the
growing and expanding business develop
ments Of the country.
Second-rhe absolute denial and de-
struction OF all power In the hands of indi-
viduals, corporations or syndicates TO cause
fluctuations in amount of the different cur
a.. Il. -. s~... .l..t
les and business distress impossible for the
future.
Third-Every dollar in circulation,
whether gold or silver, State bank paper
OF United States notes, on strict parity
and interchangeable with every other dol
lar, thus securing to the people the bene-
and national currency, circulating in
harmony and uniformity, and performing
all the functions of money at home and
abroad Mtt
Fourth-The settlement of the vexed
question of silver money at once and for
ever by authorizing it to form its portion
of the specie basis required by the Consti-
tuition for every chartered bank in the
Union; by recognizing 1t when defining the
powers of the States to make legal tender
money, thus making tho use of silver
coined into money as imperative rs 1t will
be useful to the great body OF the people
Fiftn.-The total and complete over
throw of the dangerous Capitalization of
.he money power now existing at few
money centers and in the hands of few
individuals by giving to the people of the
States the right of home rule on the sub
sect of money and thereby securing TO them
. reliable non-fuctuating home circulation.
To these five propositions Mr. Voorhee
added that one more--a carefully adjusted
and graded income taxa most equitable
and upright measure, in providing govern
ment revenue and demanded by old-fash-
toned eternal justice.
The speech was followed by an argument
from Mr.. Dubois, rep. Idaho) in opposi-
tion to the bill as measure to establish
gold monometalllsm; and by one from Mr..
Palmer, Dem. III. in support of the bill,
and suggesting the difficulty, II not inn
possibility of bi-metallism according to the
Chicago platform.
The last hour or two of the days session
passed In discussion OF Mr.. Cockrells
amendment to the bill for the increase Of
national bank circulation, but no action
was taken upon it, aud at 5:lO the Senate
adjourned.