The National tribune. [volume] (Washington, D.C.) 1877-1917, 1893-08-24
MONDAY, AUG. 81.

In the Senate. sthe Finance Committee bill
reported Friday, disseminating the purchase Of
silver bullion, was taken up. and Senator Nor
rill spoke in favor Of the bill.
Mr. Morrill, said he did not abandon all hone
Of bimetalism, and would therefore gladly vote
for so much of the repeal of the act of 1890 rs
required the purchase of silver. After its re-
peal the country would not be dependeBt upon
gold alone for currency, as there would be
much more Of silver than Of gold and more of
paper currency than ever before, and as the
sill YER dollar would not be demonetized when
ever more silver could be coined and utilized
without crOwding gold to a premium it would
be done by universal consent but the Treasury
should be relieved from its embarrassment Of
furnishing gold to pay for silver bullion.
As to the declaration of the silver. mine own
ers that they would not consent to the repeal of
the act Of 1890 without a satisfactory substi-
tute he said that the only satisfactory substi-
iute indicated by them-fres coinage-was the
very measure most feared by the country, as it
would bring with it the single silver standard
Mr.. Morrill, could not favor bimetallism with
out an increase OF the silver in silver coinage
Without an increase it would be impossible to
maintain any parity between gold and silver,
even with the cooperation of many nations.
Nor could he favor the free coinage of silver by
the United States alone were the ratio between
the two metals to be advanced from l6 to 25 to
j % to J. for the reason that the present
colossal output OF silver could not be annually
absorbed by any single nation, aud 4 prepos-
ferrous attempt TO absorb it our part might
win a smile from the Governor OF Colorado,
but would provoke the ridicule of the COM
merca world aud inexorably cause its further
depreciation.
% well understand" Mr.. Morrill, continued,
" that 1T will be necessary to enlist in any In
ternational agreement a considerable number
of nations that will each take their just pro-
portion OF the present enormous annual pro-
duction of silver, or it must necessarily be a
failure. Nevertheless, an International agree
ment is the best hope of permanent resuscita-
ton of silver, and after proper National action
| here on part. the chances of resuscitatiOn
will be greatly multiplied"
The Lee Mantle case. involving the right OF
the Governor of a State to appoint Senator in
case the Legislature has failed to elect one, was
taken up, and Mr.. Vance argued against the
| right of appointment in such cases.
The Senate adjourned at 410 until to. NOR
| row.
| In the House, Mr.. Powers vt. r. said the
| only solution of the problem was the Immediate
suspension of silver coinage. Then the nations
| would come to recognize that there is not
| enough gold in the world to act as currency,
and come to bimetalic basis.
| Mr.. Hooker Miss, d. opposed unconditional
| repeal. Confidence was not lacking among the
masses, but il was the great money institutions
| which locked up currency. He attributed the
distress of labor to the action of the banks
He blamed the Mckinley act more than the
| Sherman clause for the present depression.
On motion of Mr.. Bland Saturday was Sc.
apart for debate on the Wilson bill, instead OF
| debate under the fve-minute rule
Mr.. Cooper Qnd d. resumed the debate
| and said that If Congress repealed the purchas.
| ing clause it would not strike down or kill sill.
yer. He suspected that the arguments ad-
vanced to the contrary really meant that the
| silver industry would be stricken down, but
not silver money.
Mr.. Alexander IN. c., d. advocated free
| coinage. He did not think the repeal of the