The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-08-24

Ill.) favored unconditional repeal,
stating that although he came from an
agricultural district he would oppose
every free coinage amendment pro-
posed by Bland and his friends.
The surprise of the day was the
speech of Mr.. Hepburn, comptroller OF
the currency under the Harrison ad-
ministration. He disagreed with his
party colleagues and emphatically de-
clared against the repeal of the Sher-
man law. That law, he contended,
had been beneficial in its effects and it
should not now be repealed.
The speaker laid before the house
communication from the secretary of
the treasury in response to a resolu-
tion of the house asking for informa-
tlon relative to purchase of coinage
silver under the Sherman act. Or.
dered printed,
On motion Of Mr.. Loud (Cal.) the
senate bill was passed admitting free
of duty all articles intended for exhib.
ition at the California midwinter in
ternational exposition.
Mr.. johnson (Dem., o. asked un-
aniinous consent for the intoduction
of his bill to permit the exchange of
United States bonds for treasury notes.
There was no objection and the bill
was referred to the committee on bank
ing and currency with leave to report
at any time after special order.
Mr.. McRae (Dem., Ark.,) asked un-
animous consent for the passage OF
the joint resolution extending to the
Cherokee outlet the provisions of the
act providing for town site entries of
land in Oklahoma. There was no OBJ
lection and the joint resolution passed.
The silver debate was then resumed
and Mr.. Brickner (Dem., Wis., ad-
dressed the house in favor of the re-
peal of the purchasing clause.
Mr.. Mallory (Fla.) opposed the une
conditional repeal of the purchasing
clause of the Sherman act and also OPP
posed free coinage of silver at the
present ratio. He attributes to the
turiff a greater share of the present de-
preston, but demonstration of silver
would still further seperate the wealthy
classes and the working classes.
Mr.. Hopkins Qll.) argued against
the Bland amendments to the Wilson
bill and in support of the repeal meas
ure.
Mr.. Lane Qll.) spoke in support of
free coinage, centending that silver
dollar was the equal OF the gold dollar.
Mr.. Newlands New voiced the de-
mands of his region, who vigorously
advocated free coinage of silver.
Mr.. Bynum, advocating the Wilson
bill, said unquestionably vast major
ity believed the Sherman law respon-
sible for the evils described by the
president Since the passage OF the
act the price of silver had gone steadily
down and now the United States
could not open its mint to free coinage
at any ratio with the mints of all other
civilized nations closed against it. This
country alone could decide on no ratio
that would give fixed value to
silver. If the United States
should adopt free coinage the act
would pour into this country in one
year more silver than the mints could
! coin in ten. Free coinage would dam
l age our trade and commerce and the
$ fall in value OF money would mean O
fall in the value of money in which
4 the workingmen were paid. Should
t free coinage be decided upon he woulc
o bid farewell to any hope for tariff re-
: form.
y Mr.. Jones (Va) opposed the uncon
Q ditional repeal of the purchasing
clause and favored free coinage.
;. The house then took recess until
II D. m, but only after an agreement
q that during the remainder OF the weei
Il the daily hour OF meeting would be II
q O'Clock