The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-16

Wtlaess Daeking uas 1ev HsisnAe-
Hear onA Woleoo4 - silver.

wnaess saskins nas Pew SsissAs-
Hear ena Welssts % silver.
WAsnIsafoN ClrY, AUG. 1A-ln the ssn-
aee this morning Gordon Of Georgia re-
called the plank In the last Democrats
platform by presenting . measure 70
suspsnd Tor ninety days the las imposing
10 per cont tsx on stats bank issuea Ho
declared Il would give relief to the oountsy
In fifteen days Ard make IL possible .
move the cotton crop In she South. The
pfoposttion was not racsived With any
pasttcular wsrmth BY the ssuate. and it
was rsfesred 10 ths hnancs committee.
Voorhees, reported back from that CON-
mittee the bill jnteoG1ucod By hin yeeter-
day - msasure ofrsliet Il Ind. he ssid.
the approval Of the committss and Sscrs.
tary Of the Treasury Carlisle, and he
hoped the senate would tsks the matter
up. The national banks uesonO favoritse
OF his, but that WAs no reason Why they
should not b used TO bring about :
measure Of relief 4 they vsru. capable.
Cockrsu Of Nisso6n objected, saving
several senators siad 70 b heard On
the proposition.
The bill went over. and Cockrell then
asked the senate 70 pass the Joint resolu.
ton for payment Of mileage 10 senators
and Representatives for the present sss-
sion. Frye OF Maine ridiculsd the idea Of
public duty which wouia postpone relief
for the psopis and make haste 70 provide
relief for senators and members. The rss-
olution went to the calendar.
The Lee Mantle case, involving the
question Of the right Of governors OF states
to sppoint senators under certain eircum-
stances. was taken up, and Hunton a Vir-
ginia spoke briefly in support Of Mantls's
right 20 . seat
Lodge then msds IN address in advo-
cacy Of his resolution offered Tuesday last
directing the committee on finance 70 r.
port at once bill to repeal the purchasing
clause of the Sherman act What the peo-
pie wanted. he said, was prompt action.
He had no mind Tor party rolicy or delay.
Woicott Of Colorodo replied Ct length.
He had yet to hear any intelligent man
state that he firmly believed the Sherman
oct had wrought the injury uadsr which
the country now suffers. The Sherman
oct was illogical and vicious In that Il
made Of silver . commodity and left the
silver bullion In the treasury uncolned. Il
had some advantage, however. Its quasi
recognition Of silver had been Of Infinite
value in the hope Il had inspired Of bi.
metallism. and In fact Il had afforded an
enlarged currency from month to mouth
for the past three years. It had given the
country . currency backed by the credit Of
the government and BY silver st it, bullion
value. That was pretty good currency,
better than the 81. .000. 900 OF clearing
house certificates nov In circulation In
New York. The only tangible statement
be could get - TO the injury wrought By
the Sherman oct WAS that there Was lack
Of confidence Ia Europe. but he did
not find that statement horne out
by the facts. American securities had been
held enormously In Great Britain. That
country had suffered seriously In Aresn-
tine and her own colonies, and had been
forced to sell her securities. The great
liquidation had come, not because there
WAS lack Of con6dencs In American
finances in Great Britain, but because
holders Of American securities we're CON-
pelied 10 cell. The Sherman act WAS not
whisky trust trouble. or the cordsgs trust
trouble, and yet the New York papers,
striking . balance between the quotations
OJ now anu = ySof akos 8SBueo to1t 8uV0t
and the sherman Law were responsible for
ell those disasters The real cause Of the
present fnaneiai panic u 20 b looked for
else where. II came partly because of
European losses in South America and
Australia, partly because Russia and Aus
tsia were buying Fold. and partly because
the United States had purchased more
goods abroad than IL hsd sold abroad.
All these causes were utterly indie
pendent Of and irrespective Of sill
yer and the Sherman sct All
the legislation that might b ensctsd
would not bring back confidence 70 the
men Who have withdrawn their money
from the banks. Woicott exprsssed the
conviction that when prosperous days
came back to this country Il would b aftsF
il had announced 20 the world that this
vss . nation Of bi-mssalilsts. believing In
hard money. both gold and silver. and
that il proposed 70 have it, share Of the
eoid OF the world. vas rich enough 70 hold
il, and was entitled BY its resources and
condition 20 hsvs it: that as the same
time u proposed TO open III minss 70 the
free and unlimited coinage of silver. and
that il had returned 70 the paths Of the
founders Of the repahiic-
Lo<age's resolution was then laid aside
without action. and Hear addFssssd the
senate on vess's rssoiution - 10 hi-mstai-
II n