The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1893-09-14
THE MONETARY PROBLEM
SENATOR MORGAN WANTS IT CON-
SlDERED BY A JOINT COMMITTEE.

Don't Seem Disposed to take Kindly to
tho Idea--Tne Plan prop,,ed by tho
Senator.
WASHINGTON. Sept. I'm the Senate
yesterday Morgan introduced concur
rent resolution for the appointment of
a Joint committee of the two houses, to
he composed Of seven Senators and sew
en- Representatives.. These, together,
are to constitute a joint committee on
finance. The chairman is to be chosen
by the committee by ballot. 1t is 20
hold its sessions IN the Capitol. or in
such other places as the majority may
direct, with power to hear witnesses
and to employ stenOgraphers. Eleven
members are to cOnStitutue q quorum
to do business. The committee is to
examine into the financial and none
tary condition OF the government and
people of the United States. The COM
mlttee is to examine into the follow
ing subjects and to report upon them:
The full or partial decentralization Of
legal tender silver coins, and the ratio
which should be established between
them and gold coin; the revision Of
laws relating to legal tender, so as to
prevent unjust discrimination in the
several klnuS OF money; the repeal Of
the 10 per cent. tax on the State banks:
the actual causes Of the present cOrdi-
tlon OF the people and Of the national
banks, and what further legislation is
necessary TO prevent national banks
rom abusing their powers under the
law. The Joint committee may appoint
sub ubcOmmltteeS, Of not less than four
members (three to constitute Il quO.
rum) which may sit in any place in
the United States and take testimony.
Alter the transaction Of routine bus
mess in the Senate today the reSOlu.
ton offered by Morgan was next laid
before the senate by the presiding of
licer.
Voorhees, suggested that the rpsolu-
tlon could not be adopted without its
reference to the finance committeeman
he moved to proceed with the consider
tl0n OF the bill to repeal the Sherman
| Act.
| Morgan notified the Senator from In
diana that he could wait for his bill
until , o'clock.
Noorhers-While that Is true. the
senator from Alabama, with exceeding
dellcacy, takes two Senators from the
hoor--Senator from NrTaia Stuwart)
| a..
the Senator from Texas (MlllsD who
has given notice of his intention to ad
dress the Senate. That is all | wish e
say.
Stewart Gin an undcrtOne and with a
Smlle)-Oh. will pardon him.
Morgan-l will be entirely delicate
ana respectful to every Senator Whel
he Is in urder-and am in order now
and no Senator has a right to the
loor TO supersede the resolution which
the Vice President has laid before the
body. am not guilty of any indeli.
| cacy IN asserting my rights under the
rules of the Senate. The Senator from
Indiana has given notice OF Il motion
TO refer this resolution to the finance
committee. If this proposed joint Sc
| lect committee were not expressly in .
tended to SupcrScue the functions Of
the finance committee in both houses,
that would be Il very proper motion;
but DO not expect that the Senator
Will refer to the finance committee Il
measure which has for its purpose to
supplement- the powers Of That com.
| mittee. The actions Of that committee
| up to this time have not been III con-
formity with, ami 60 not entirely or
properly cover the condition or urcps~i.
ties of the country.
MIR. Morgan went Oh to make a long
speech. He had offered the resolution,
ne sad, from his own conception Of
| the situation. There was no human
being responsible for it but himself.
An attempt had been made to cure a
great breadth of the financial trouble
and evils and difficulties in the United
States by the administration of Il Ger
tain noStrllm to cure Il particular part
of complaint which the people Of the
United States recognized as being Il
very serious one and presenting Il great
many aspects. There was great dl-
Ver3ty OF opinion as to what should
| take place after repeal of the Sherman
law; and the object of his resolution
was to put the matter In the hands of
| a joint select committee. to determine
| what should be done in the event Of
Che SenateS concurring with the House
| IN Ine repeal OF the purchasing clause
OF the Sherman Act. Would ANYBODY
| undertake TO say that there was no ne.
| cesslty for further legislation after the
Sherman Act was repealed? Hal any
one limited that that repeal was to be a
cure OF the financial difficulties Of the
people Of the United States? Was it
proposed to do anything more than to
give mere respite until the country
could right itself, or until the legisia
bring the country right? No one had
suggested as yet that that particular
remedy was going to relieve the coun-
try of all the great evils that it was
experiencing, and had been eXperienc.
| ing for the last two months. or f)r the
last year. Therefore it was necessary
not only to meet public expectation,
but to perform the duty devolving on
Senators, to take Il broad and general
view Of all the difficulties suggested in
relation to the financial and monetary
situation of the United States. 1t was
necessary that a Joint select committee
should investigate, fully and complete
ly the whole Suhject; and when IT un-
derStand3 it, bring forward one bill or
several bills for the purpose Of rectiIy-
ing the trouble.
Morgan said ne wanted an inYestiga-
tlon OF the whole subject. lie wanted
the country to be informed. He had
no particular pet measure OF his own
and was influenced by no partisan con-
sderationS. lie was not of sucli, he