The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1893-09-02
ooNaaEsslonAL PROCEEDINGS
The Senate.

| Washington, and Martin. ind, Kansas.
| The house joint resolution as to town
sites in the Cherokee outlet was reported,
and an attempt made to have 1T passed,
/ but objection was made and 1T was placed
on the calendar.
| Mr.. PETER, ind, Kansas, then proceeded
to address the senate on the silver ques-
ton. He requested that he should have u
patient and attentive hearing (such as
| had been gived to other senators), as he
| represented at least million and half
voters who believed just as he did.
WASHINGTON, Aug. 25.--In the senate to-
day Mr.. Vest, dem, Missouri, sent to the
clerks desk and had read communica-
tion from the director of the mint sent in
| response to an inquiry giving statistics
as to the quantity of silver bullion pur-
chased since 1873, the date of the Bland
Allison act it's cost, the amount coined,
etc. Mr. Vest summed up the figures in
order to show that if all the silver dol
lars and subsidiary silver coin were
recoined Mt the ratio proposed in his bill,
20 to |, there would still be profit to the
treasury on the whole silver transaction
since 1873 of *l5.267, ,093. He intimated
pretty broadly that Mr.. Carlisle, in his
his letter to Senator Voorhees, on the
same subject, had not treated the ques-
tion fairly.
Mr.. Hill, dem, New York, then took
the floor and began his speech, the open
attention
There were those, Mr.. Hill said, who
did not wholly agree with the president
in his diagnosis of the malady now affect
ing the body polite and who did-nct has
| t'ly Join with him i'll the rosy conclusion
that the financial millennium is to come
the moment the Sherman law is removed.
There were some who had given the SUBJ
ject attention who believed the cause
of the present depression was deeper
L.;
its foundations were laid in the evil hours
of 1873, when the country nnwittingly
laid aside the financial policy that had
been its guide since the foundation of the
government. The existing financial dis
turbance, Mr.. Hill found, was attributa-
BILE to three distinct causes: !. 1t was the
natural and inevitable result of many
years of real or fictitious prosperity. 2.
Some portion of the present panic could
be traced to concerted effort
on the part of the monometal-
to discredit silver. 8. But no matter what
else may have contributed to the present
financial condition it would not be denied
that the silver purchase law had been at
least in part and perhaps the most largely
instrumental in producing existing COM
plications. Mr. Hill did not believe that
simple repeal of the Sherman law would
at once restore abundant prosperity,
but that many years would be re-
CURED to recover from the present
disturbances. He compared his course in
declaring for repeal with the presidents
course in failing to refer to it until this
late day, He was Il bimctallist and stood
for free 2oinage at proper ratio Had
the Sherman law been repealedat the last
session or in special session on the 18th of
March, tile United States would have cs-
capped the present panic and precluded
the closure of the Indian mints The per-
manent remedy for our financial difficulty
was to return to the bimetailism
that existed prior to 1879.
4 sEr. Hill favored the increase OF the ma
tiInal bank circulation as proposed in the
reuding bill Continuing, he said be re-
gnrded the question of ratio as not timely
n AID As of the. least aaesenner ce,e4bNs ii
changed ut all it should not be enlarged
but diminished to 151f, the Latin ratio, He
deprecated hasty action in the formation
of u definite financial plan and predicted
the failure of the attempt TO impose u
gold standard on India
Meanwhile the prompt repeal of the
Sherman law WAS demanded as measure
OF temporary relief Let us legislate
upon the financial question, said Mr.
Hill, and then return to our homes mex,
December, resumng the consideration
OF permanent system. His distinguished
colleague and himself would cheerfully
vote for the repeal bill "nnawed by power
and interrupted by federal patronage. =
He predicted the passage of The bill by
She senate and the republic would
weather the present storm
AT the conclusion of Senator Hills
speech he was heartily congratulated by
many senator's.
Senator Stewart, of Nevada, followed
with a free silver speech, denonncing tho
pending bill as a measure destructive o1
silver
WASHINGTON, Aug. 29.--In the senate
Mr.. Teller rep, Colorado. objected tc
immediate consideration of the repeal
bill and it goes over until tomorrow.
Mr.. Stewards resolution inquiring into
the condition of the treasury was ther
taken up for consideration. The resolu
tiOn was referred to the finance commit
tee and Mr.. Gordon, dem, Georgia, ad
dressed the senate in advocacy of the un
conditional repeal of the Sherman act Ht
declared that he could not vote for any
measure that involved delay, and that he
was therefore opposed to the substitute
reported today.
WASHINGTON, Aug. 30.-After the morn
ing routine business the bin for the re
peal of the Sherman act was taken up ant
Mr.. Sherman, rep, Ohio, proceeded Il
address the senate. He said that if the
repeal of tho purchasing clause of the act
of July, 1880, were the only reason for tn,
extraordinary session ii would seem t.
him insufficient 1t was however
gency. One thing, he said, congress ant
the people agreed on, and that was tina
both gold and silver should be continued
in use as money. Monometnllism pure
and simple had never gained a foothold il
the United States. If senator's wanted
cheap money and an advance in prices
free coinage of silver was the way to dc
1t, but they should not call it bimetallism
Mr.. Sherman then proceeded to discus
the history of the act that bears his name
He was not in favor Of the free coinage o
siver and regarded it as but another nam
for the monometallism of silver and va
only in favor of the purchase of silver TO
purposes of coming. The conferces of tn
two houses agreed upon their difference
and in that agreement secured the re
peal of the Bland-Allison act. Mr.
Sherman reminded the senator's tina
when they criticised the law that wa
misnamed for him they should remembe
that this law now on the statute book
was far better than either the house bill
or that passed by the senate The presi
dent had, Mr.. Sherman said, set forth TIL
decline in the value of silver, but ha
failed to give the causes of thot decline
Had he taken Il broader view of the cause
of decline he could have explained it all
1t was due, Mr.. Sherman said to the fac
, that we were called upon to pay our d. bt
tine Republic had to be made good and sh
: returned our securities and demande
the gold needed to save her own institr
, tions from going down. For the frs
time also in a number Of years the bal
ance of trade was against us and we ha
to make the difference good.
Mr. Sherman declared that an errone
Gus impression had been created when
, was claimed that the Sherman law wa
the cause of all the trouble, and this, h
, said with all due Difference to Mr.. Cleve
land. He was ready to stand by the law
not as u measure in which he too
any special pride, for he was con
) PEELED to yield in order to preven
disastrous legislation But without thi
law what wonld the country have done i
, 1891 and 1899 had it been called upon t
. meet the difficulties now staggering us
: He was not new convert to the repeal {
the law. A year ago he had introduce
! bill to suspend the opei
atoms OF the law. It wa
, worded almost exactly like tha
, of Mr.. Voorhees, Why did not the demo
cratic senator's then see the dangers the
now see and come to the help of the r,
publicans when they sought to suspan
the laws Not a democratic vote was ma
then and democrats must answer why.
itFs- So