Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-10-29
1T TOOK SIX VOTES
senate Knocked Out Amend
ments to Sihef Bill.
SHERMAN EXPRESSED A DOUBT
whether Rep>ai Biii. In Its Present
shape woaid AfRord she Relief
30 Much sought

WAsafSoTos. Oct - LA tho een ate
today after the passage OF The prgerey
deficiency bill and the ioiat restitution
10 transfer 20 the state 81 Illinois. for
the naval militia Of that state. the model
battleship llInois. the silver parehsss
repeal ball cas- then taken up and Mr..
Wolcott addressed the senate
Mr.. Sherm an expressed the deep sym
patty which he felt for the senators and
people Of the silver producing states
lie would do anything to help them lie
believed that after the suspension Of
silver purchases, silver would rise in
price. There Was nov t61T 100000 OF
silver in sight. and he thought that much
Of u might be used in subsidiary coin.
After eli the Trades oh ch the senate
had heard. the silver mining Of Colorado
and the other silver producing states
Colorado. who were now frightened out
Of their wits because one Of their inter.
eats WAS 10 be injured. would tind ample
employ ment in the development OF their
soil and II their mines The govern
ment. he said. ought to encourage every
industry IN every part OF the country.
dustries at the expense OF the interest OF
the whole people OF the United States.
he believed in the protection OF AneFi-
can industries. and he would. II be bad
bis way. build up by a reasonable tariff
duty every industry that could be
carried on with safety and profit. IL
the silver mining industry could be
carried ON without endangering the
standards OF value upon which all
values rested. be would be very willing
10 see II done.
sherman Has His Doubts
Addressing the democrat side OF the
chamber. Mr.. Sherman said that he
doubted very much whether the repeal
bill. in its present shape, would meet tho
expectations of many people who had
made bugaboo OF the silver purchase
law. He believed that IL was necessary
TO super-add other measures. even more
vitality important than repeal; but il
was not desired that they should be
offered as amendments To the pending
bill. After thinking OF it fully and
carefully. be believed il was not wise TO
Introduce new propositions or 10 raise
other questions on the pending bill But
ii vas absolutely necessary 10 have
some legislation with regard TO the fund
on hand for the maintenance OF resump-
ton, and also to have a clear conception
as to that fund Mr. Sherman then went
on to give history Of the reserve fund OF
el00 C00O0O in gold. quoting varioas au-
tnorities 10 show that II could not be
used except for the redemption OF United
States bonds. and that IL it were used
for anything else. il was a peryersion OF
the fund and breach OF trust He
argued that the fund should remain in
tact, and should not he used for any
purpose. except that for which il was
designed. And yet he was told. he said,
that the fund was now being used to
pay the Ordinary expenses Of the gov
eminent. Ii was manifest. that IL that
misuse Of it were continued longer. and
were not promptly arrested by some wise
legislation, the hopes OF all who believed
IL In sound money would fail The fund.
which Was now reduced TO 6Si.0C0,OO0,
would have to be restored and kept in
tact
Senators German and Stewart next
addressed the senate at some length.
The latter offered a substitute TO Perk-
ms amendment making a small verbal
change In the substitute. Senator Shoup
OF Nevada made a speech and then a
vote was taken on Stewards substitute.
Ii was defeated-yess. -; nays. -. A
vote was then taken on Perkins amend
ment. introduced yesterday afternoon,
providing for the free coinage OF the
American product Before the vote
Perkins Withdrew the clause providing
for a monetary commission. The amend.
ment was knocked out--yeas, 30;
nays. Al
Mr.. Berry offered an amendment
reyiving and re-enacting the Bland
Allison act Of February. 1878. Lost.
81 yeas; 81 nays
Mr.. Allen offered an amendment
providing for the free coinage Of silver
at the ratio OF 10 to l. Lost. 81 yeas; Al
nays
Mr. Blackburn offered an amendment
providing for coinage OF the American
product. The value OF seigniorage to be
established each month bv the secretary
OF the treasury. ost-yeas. -; nays. AZ
Mr.. Stewart offered an amendmentau.
thorizlng the president TO invite the
South American republics and Mexico
TO send representatives To assembly
within nine months and hold monetary
conference 10 consider the feasl bility OF
N'@1DhHAthA afN1 tRi1ukts
meat was defeated; yeas. 81. nays. Al.
, Mr.. PETER offered his amendn at for
an issue OF s3j0.OU00O0 of treasury notes
similar tn those issued under the pro
visions Of the act OF July IA. 1880. 10 t'e
redecmable for ali dett- and dues MIR
PETERS amendment vas defeated by
vote % - o. 7.
Mr.. Allen introduced an amendment
making dollar ~ il2is grains the uni,
Of value and legal tender for all debts;
providing for free coinage less 20
per cent for seigniorage. which seq.
nlorage II To he coined into dollars
snd covered into the treasury. IL was
bcst by n vote Of al 10 -
Al ole the sensts went into executive
session on motion % Mr.. Toorhees and
a. BIO took recess until Monday az IL
o'clock.
Wrccksgr on Spectacle Reef
PoEr HrRor. Mich. Oct .s-The