The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-23

alton in the amount Of different cur

alton in the amount of different cur
rencies In circulation.
3-To maintain on a parity gold, silver
and paper money.
Ito settle the status of silver money
py authorizing it to form portion OF the
specie basis required by the constitution
for chartered banks.
5-To overthrow the dangerous CEN
tralization of the money power now ex-
listing at two money centers in the hands
OF Jew individuals, by giving the people
of the states the right OF home rule on the
subject of money, thus securing to them
home circulation.
To these five PROPOSE tions. he added, a
carefully adjusted and graded income
tax, as the most equitable and upright
measure for providing the government
with G revenue.
The delivery of the speech occupied one
hour and thirty-five minutes. After Mr..
Voorhees, took his seat he was congratu-
lated by many senators.
The debate was continued by Senator
Dubois in opposition to the bill. "There
was not senator on the foor,' he said,
'twho had not been elected on platform
which pledges him to bimetallism. He
insisted that no representative of the peo-
pie had moral right by his vote or on his
own judgment to put the country on gold
standard as it would be a betrayal of the
people,
Senator Palmer argued in support of
the bill. sit could not fairly be asserted, !"
he said, ''that the president did not favor
the use of both gold and silver as stand
ard money of the country nor did it fol-
low that because the president failed to
say word in reference of bimetallism in
his recent message to Congress that he
would disapprove legislation providing
for the coinage of both metals that would
be of equal exchangeable and intrinsic
value. He expressed the opinion that a
majority of the American people would
not only approve but would rapturously
applaud legislation that would establish
and maintain the bimetallism of the
Chicago convention. He believed, how
ever, that in the present state OF the
market it was beyond the power and IN
finite mind to fix ratio of silver to gold,
because the market value OF silver was In
state of chronic fluctuations.
The bill having been laid aside and the
case of the Montana Senatorship laid be-
fore the Senate motion 80 lay that aside
informally and proceed to a consideration
Of the bill to increase national bank cir
culation was made by Mcpherson and
agreed TIC. The bill was then taken up,
the question being on the amendment
offered by Mr.. Cockrell for the REDEEM ption
of such two per cent. bonds as may be
offered and for the payment in new issue
of treasury notes.
Mr.. Stewart took the floor and set out
to antagonize some OF the positions taken
in Mr.. Voorhees, speech and after a brief
debate the bill and amendment went over
without action.
& resolution offered by Mr.. PETER went
over till tomorrow calling on the secretary
of the treasury for a report whether the
national banks In Boston, New York and
Philadelphia were being conducted in
violation of law, whether they were pay
ing depositor's checks promptly in law
full money, aud whether they were de-
manding rates of interest higher than
those provided by law for loans of money
or discounting accounts. The Senate
then adjourned.