The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-30
Another Day Passes without
Any Material Progress.
MINE OWNER TELLER TALKING.
On Show Of Strength Vote Results
Forty to Fifteen. Anti-Siiyer.
In the House Ex-sPeaker Reed Has Fun
with the Demoersts Over the New
KaIes-Arrsngcments for Tarin Hear
ings TO BE Made Today.


COMMITTEES, reported back the house bill
repeating part Of the Sherman act. with
an amendment in the nature of . substi-
tute. He asked thai the bill be placed on
the calendar. and gese notice that he
should ask the senate TO take il up and
consider it Immediately after morning
business from this time on until final ac-
ton should be tskcn. The substitute, he
said, was exactly the bill heretofore re-
ported from the finance committee. On
the objection OF Teller il went over till to-
morrow. Harris, member of the finance
committee. said the substitute Just re-
ported was the msjority report. in which
the minority of the committee did not
concur.
The resolution offered yesterday by Stew
art was then laid before the senate II di-
rects the secretary Of the treasury to in
form the senate whether there is danger of
deficiency in the revenues OF the govern
ment during the ennent year. and, il so,
what is the probablexnonnt of such def
cheney and whether legislation is necessary
TO supply such deficiency. The resolution
gave rise TO long Discussion. Senators
Sherman. Voorheexs Mills, Mcpherson
and Harris opposed the resolution as CALI
ing for prohlematical statements. as cal
culated to create needless alarm. or as re-
iiecting on the secretary of the treasury.
A motion to refer the solution 10 the
finance committee was made by voorhees,.
That motion was opposed by Hill and
Stewart. Hill declared he could see no
danger TO the country from the adoption
of the resolution. Stewart. who also de-
Tended IL, declared there MAS rumor Of
deficiency in revenue: that the treasury
had difficulty in paying current expenses
and the gold reserve was being paid out
therefor. After soma rther debate the
resolution was fns2r referred to the
finance committees txa vote of forty to
fifteen. The seunfNA voting nay were:
Allen, Call, Dubois Hansbrough, Hill,
Irby, Jones Of Nevada. Lindsay, PETER,
Power. Shonp. Stewart. Teller, White OF
Caiifornia and Wolcott.
Dolph introduced = bill. which was re-
ferred TO the comnsitee ON foreign reia-
tions, appropriating $50, 900 to enable the
secretary Of the treasury 10 enforce the
Chinese exclusion act, and said he would
seek an opportunity 70 address the senate
on the subject.
Gordon addressed safs senate IN favof Of
uncon ditionai repeal o. the purchasing
clause of the Sherman act and against the
substitute. Gordon, In the concluding
portion Of his speech, advocated repeal of
the 10 per cent. tax on state banks.
Teller addressed the senate In an argu-
ment TO prove the Sherman law not re-
sponsiblc for the financial troubles of the
country. Almost without exception, he
said, every one sho had addressed the sem
ate had spoken as If there we're some great
calamity impending over the people of the
United States. He wanted to enter his
protest against the calamity howIers."
There was q disturbed financial condition
OF an unusual character. and it seemed to
him that the first thing to do
would be to inquire what brought it
about. and yet during the three weeks
session he had not heard anybody suggest
an intelligent reason for the present finan-
cial condition. Nobody had analysed the
question as to whether the cause was or
was not the Sherman act He challenged
any senator to tell the American people
He believed the people had brought about
the panic because they were afraid for
their money. There had peen taken from
the banks of the United States since early
last spring at least $3.50, 10000 by men
who were dissatisfied with the present
condition of things. They had taken out
their money and had put il away, but they
had not demanded gold. They took what
ever currency they could get. He had
been in the city of Denver when four
national banks there. all solvent,
closed. He had gone on the street where
the crowd was gathered and asked the peo-
pie what the trouble was, and he was told
I'VE don't know what the tronbie Is. We
have been told there Is to he great fluan.
cial disturbance in the country. We don't
know whether the banks will be able 10
pay us our money when we want il, and
we think IL is safest &c get ID now" Those
prognostications of coming evil, Teller
said, had emanated from New York banks
and newspapers. The CRY OF the metro
politsn papers was followed By all the
small papers of the country. None OF them
was able to tell what was going TO happen.
These misrepresentatIons and false state
ments had brought about a state of things
which could be brought about in any coun-
try and at any tirne by such means and
agencies
Teller went on at great length to discuss
the course taken by the New York banks
in refusing so pay their depositors' checks
ia currency and in trying 10 work up pub
lac op!nion in favor of the repeat OF the
Sherman act lie noted the reported in
terviews With the president and Secretary
Carlisle, and criticised the yiews attributed
20 the president. and which. he said, had
never been denied. that the people Of the
United States needed an object lesson and
vas going to get II.
Without concluding his remarks Teller
yielded for motion to proceed 20 execu-
tive business, and afterwards the senate
adjourned.