The sun., 1893-08-12
pROCEEDINGS IN THE HOUSE
The Agreement Adopted and the Debate
O,ened by Mr.. Rnyner and Mr.. Bland.


WASHINGTON. Aug. !. - Tho House this
morning was in hustle OF intense excitement.
Members met in groups. talking over the stu
alton Immediately after tho reading OF the
iournal Mr. Wilson Dem. W. Na.) offered Tor
present consideration a bill to repeal the silver
purchase clause OF tho Sherman act. 1t pro-
vdes:
That so much OF the proved July IA. 1890. as
Directs the Secretary of the Treasury to purchase from
time to time silver bullion to tr aRgresats amount OF
A Eoo OOo ounces Cr 50 Inuci thereof may be
offered each month at the market price thereof not
exceeding 81 for 37la yrans Of pure silver ami 10
issue in pay men such purchase Treasury notes OF
tho United states be aud the same To- hereby repeated
But this repeal shall not impair nor IN any manner
ansct the lesatenier quality "f the STANDARD SILVER
dollars heretofore coined and the in'ih ana credit of
IN. United states are hereby pledged maintain the
parity Of the gold and silver coin ot the tntcl SneS
the present legal ratio or such otherrat'o As may DO
established by law.
Then Mr.. Bland Dem. Mo-. arose. and de-
sired to offer a resolution looking to the order
of procedure.
Mr. Cannon (Rep ILL.,. wished to ask par
lamenary question. He wished to know how
the bill was to be conSidersd. Was it to no re-
ferred to a standing committee? Was 1t to lie
considered in Committee Of the Whole? Or
was it to be considered in the House as in
Committee Of the Whole?
The Speaker replied that in the absence OF
rules it # was w for hS Hoase to the
Mr.. Bland then presented the following
order.
1t is ordered by the Hous. TINT House Ril No
shall be taken up for Inn and con.
ss1 ms only n
Se. Of ss S !. anT. of n 40
debate the bIl ne given to general debate under
tie f"S' 90 s s: eHs
ss map s. re 1"s dsy1 9 tn. @
and ih. amendments As nsTelm PROVIDED; under me
the whole House. General leave to print is hereby
1t % !:
amendment proposing ratio OF ~ to j If that taiIs
p Ss: Z is
T'so s sae
aSS Il sSsT
then to be taken on the engro-sment and third
Mr. Henderson Rep, la incurred as to the
tion rested with the Chair. and he would rec
ognize gentlemen on both sides OF the aues-
Mr. Simpson POP. Kan, said that in some
thu Question shat the Hepnbeans were e'f not
able 10 distinguish themselves from the Dem
fopas paS Should h%Ss an a eG %
time. and he suggested that three hours be
given tne members OI tnnt UHFLy.
Mr.. Henderson uEep, Iowa. gave notice that
the RspubiisGMns ms were were GThInE Th t" control their
to be two sides controlled ty tho Democrats.
MIR: Bowers Rcn Cal said that. as he un-
the rens
and those opposed to It, ne directed to ke-
S IL" 9 a of res
Mr.. Bland demanded the previous question
MIR. Reed tRep.. Me- inquired whether. II the
previous question were, ordered. there would
The Speaker replied that in the absence OF
rules rules there there would @ mot not be- be- bad o,,o..o :.
fdssd asf BSt Mr. f BLAND Mr. cannon s
mated. and withal 50 uninteiiglbie that both
wero called to order By tie Sdpeksr
ME Cannon had some dimculty in securing
and previous Tnes ton was ordered 2i7
nays 1H0. b The order % was IT,, then adopted. ,,,
rs a substitute. 1t reads as follows:
q tHG at to s r.. Of % @ act ct all more ss d.
standard ws,sa, .na rnsnss. ;hsl pe ent"a 70 haye
Ws s Srsd ssss nt9 o
In n.seton @ 2 Of a.. M act act, ,ou.u .o-,.., .,,.
:esI ssS,l.s .isf s5a,n. sssndSfa s.y.
ss f@Ss, for all debts dues and
s
s.ye silver eer,iaeste. IN The maner now provided
sKo. 4. SO much OF the act OF Jny IA. 1870 as re-
s. ' S'' % n.1"S; :S"S;' Of
Mr.. RAYSER BEGINS THE DEBATE.
At five minutes after l Mr.. Rayner tDem..
Nd began the debate in support of the VII
son h!ll. He was. he said. in favor OF the un.
the sherman bill without any condition or
proviso Whatsoever. He was not, In favor OF
coming oi it at The present ratio or any " other
Tntio. He desired to add that he had no hos
an Gf Tysf On
earnest consideration, he was. convinced be-
nton as n ceuatns mcdum ,' whont In rseGG G
ternational agreement, was n financial under
taxing nSry m ,ha nSssGs o @ Of d
pninion the present ratio was unjust aud ar
strary IL lay not II the bower Of ths GHv,
mines. TO Impress ppon 1t n ilc ious value
and and BY legislative decree compe the peoplc to
price which It commanded in every CONNER
Sa centre 2, Of M the world: II the United states
which was unequal. il this desperate system
Sf nasnss nd wnf to preyaI then notnng Dqt
isS We'll retreat from It's lofty "Sd p9s,on I'%ss
hands will bankrupt nations Of the earth which
s believed u H. broken promises and & &reppalated T
would tend for r. ), while to keen up the ieti,i
market price 1t would fuctuute like every
other commodity: 1t would be governed by the
laws 9f supply and demand. and eventually,
according 70 every cardinal and accepted
axiom OF political economy, the coinage price
would become the bullion price: tho unit OF
value would be the market value: tho money
basis would be the basis OF the cheaper metal
the dearer metal would leave the avenues OF
trade: Initiation would give way to panc pri-
vate obligations would be nullitied public obli-
cations would be dlscredited. and the honor OF
tho nation would be impaired
II WAS claimed that We required In this
country SIRtnm "A
nations OF the earth agreed upon n proper
ratio; and lust SO long MS the sherman act re.
mained upon the statute books, SO long was
an International ratio a financial i'm possibility.
80 long as We purchnsed silver and parted with
gold. SO long would monetary conferences re-
suit in failure. When we ceased purchasing
silver; ana proclaimed to the world that the
gold dollar was tho standard and the unit oil
Americah value, then wecoud bring our rivals
10 terms. because thero was not a sufficient
amount OF gold in existence to supply
the demands Of commerce and the
necessities Of the worlds circulation.
~ h. ,.nin h..a