The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-23

/ sions
After quoting from his former speeches
. on the pension subject, Mr. voorhees, said
. il was clear to his mind that pension
money amounting TO over Sl600OO,0OO per
. aDnum. perhaps, and going everywhere,
/ was one of the greatest sources of relief
/ now left 10 the people. in the way Of cur
I rency, independently of the contracting or
retiring power of the banks.
Turning again 10 a discussion Of the
national banking system, Mr.. Voorhees,
asserted that the banks were entering on
/ q final fight for a prolonged future de-
/ Tense. They are engaged at their Qua
/ trebras preliminary TO their Waterloo
/ They intensely realized that the present
| supply of government bonds or bidding
/ purposes must be very largely increased
/ within five years, or they would be
/ forced TO commence winding up and re-
treating from the theatre of action on
/ which they had long appeared.
Mr.. Voorhees, took his stand against
the existence, the increase, or the perpet-
uation Of the national debt for purposes
4 of national banking and called upon the
millions who constitute the great army of
laborers 10 take notice of this issue from
this time on-an issue that will not down
at any mans bidding.
TEN PER CENT TAX UNCONSTITUTIONAL.
Mr. Voorhees, denied the constitution
atty of the the ten per cent. tax on state
| bank circulation, even though q majority
of the supreme court had reached such
conclusion, and argued for the right of
| the state to provide its people with a cir
culating medium through the agency
of state banks. The great value of
! state bank money was, and ought to
! be, mainly local 1t would increase the
circulation and the accommodation of
every agricultural community on Ameri-
can soil Meanwhile it should be the
/ plain duty of the federal government to
issue its own unassailable notes by retir-
ing as much of its present outstanding
currency. and also by the payment Of its
! debts, and to issue them in amounts
equal 10 the requirements of trade
as nearly as possible, bearing
within them the breath of national life,
hOnOred in every village and hamlet in
the American union, uniform in value
| from Maine to Alaska, and their faces as
well-known as the flag wherever flies
that emblem of the power and glory of
united and fraternal people.
Those who lived to witness the adop-
| tiOn of this policy would, Mr.. Voorhees,
thought, look upon the safest. strongest
and most beneficial system of finance
ever known in American history. 1t had
in it the clements with which to accom-
plish these paramount and Indispensable
features of all sound financial legislation.
Eirst-A sufficient volume of currency at
all times, state and national, on practi-
cally a specie basis, guaranteed also by
public honor with which to transact the
| growing and expanding business develop
ments of the country.
Second-The absolutedenial AMI de-
structiOn of all power in the hands Of in
dividuals, corporations or syndicates to
cause fluctuations in the amount of the
different currcncies in circulation: thus
rendering panics and business distress
impossible for the future
Third Every dollar in circulation,
whether gold or silver, state bank, paper
or United States notes, on a strict parity,
and interchangeable with every other dol
lar; thus securing to the people the bene-
fits and advantages of both a state cur
| rency and a national currency, circulat-
ing in harmony and uniformity and per-
| forming all the functions of money at
| home and abroad.
Fourth-The settlement of the vexed
/ questions Of silver money, at once and
/ forever, by authorizing it to form its por-
| ton of the specie basis required by the
| constitution for every chartered bank in
| the union; by recognizing it when defining
the powers of the states to make
| legal-tender money; thus making the
use of silver coined into money as impera-
tive as it will be useful to the great body
| of people.
E'ifth-The total and complete over
throw of the dangerous Capitalization of
| the money power now existing at a few
money centers and in the hands of few
| individuals, by giving to the people of
/ the states the right Of home rule on the
/ subject of money and there.
| by securing to them marketable, non
/ t1uctuating home circulation.
! To these five propositions Mr.. Voorhees,
] ~ cd Inn mn a snr fin a ne tod
and graded income tax, most equitable
| and upright measure in providing govern
! ment revenue, and demanded by Old-faSh-
! toned, eternal Justice.
In conclusion MIR. Voorhees, said: "And
now, in the meantime, and in view of the
/ present crisis, full Of peril as it is, let the
whole people of the United States, of
every commonwealth and out of every
neigh borhood, cast out their fears and
abide in the mistaken faith that the pres
emit disasters will pass away and
/ be followed, as soon as much
needed reforms can be accomplished, by, the
unbrOken sunlight of prosperity, and that
He who determines the destiny of nations
will cause the republic of their fathers to
win, and not to lose, in the transcendent
mission to which it was dedicated a hun
| bred years ago.
After Mr. Voorhees, took his seat, he
was congratulated by many senator's.
The galleries then began TO thin out and
a majority of the senators left the cham
Der. The debate, however, was contin-
ued by Mr.. Dubois, rep, Idaho,
in opposition to the bill What vote of
the people he asked, had instructed con
gress to abandon bimetallism2 There
was not a senator on the floor,
who had not been elected on
a platform which pledged
him to bimetallism No national party
had declared at any convention in favor
of recommendation, and, in his judgment,
none ever would. He insisted. most earn
estly, that no representative of the people
had a moral right by his vote or on his
own Judgment to put the country on a
gold standard. 1t would be a betrayal of
the people.
THE PRESIDENT A BIIETALLIST.
Mr.. Palmer argued in support of the
bill II could not fairly be asserted, he
said, that the President did not IA
vor the use of both gold and silver as the
standard money of the country, nor did
it follow that, because the President had
failed to say word in reference to bi-
metallism in his recent message to con
gress. he would disapproye legislation
providing for the coinage of both metals
that would be Of equal exchange and
intrinsic value. He expressed the
opinion that the great majority
of the American people would not only
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