The times. [volume] (Richmond, Va.) 1890-1903, 1893-09-01
WALC0TT AND CAFFERY.
MAKE sPEECHEs ON EACH sJDr or
THE sfLYEE QUESTION.
The Colorado Senator Opposes the Repeal
and the Loaisisnian Favors tide
bate on the Rules in the House.

concurrent resolution directing the Sc
cretary Of the Treasury (under the pro.
vision Of Section 256. Of the Revised sta.
tutes) TO issue certificates not TO exceed
20 per cent. Of the amount Of gold coin
and bullion i'm the Treasury. and to use
and expend the same In payment Of in
terest on the public debt, or any other de.
mand, liability or obligation Of the Unit
ed States. He read the section referred
to-which authorizes the deposit Of gold
coin or bullion in the treasury and the
issue thereon Of gold certificates to the
amount Of 20 per cent. Of the gold coin
and bullion in the treasury. He said that
the passage Of the concurrent resolution
would allow the issue Of from % TO 35
million dollars in gold certificates. The
concurrent resolution was at his own re-
quest laid or the table for The present.
The House bill for the repeal Of the pur-
! chasing clause of the Sherman act was
/ then taken up and MIR. Wolcott, Of Col
| oradO, opened the debate with a pre-
pared speech against the bill, delivered
in the presence Of almost all the Sena-
tors. and Of a large audience IN the gall
/ leries. The most telling parts Of it, and
| those that amused and interested Its hear
/ ers most we're some numerous and sar-
/ castle touches in which he depicted the
| conversion OF Democratic statesmen from
their belief I'm silver and their devotion
| to bimetalhsm. TO the gold nonometal-
! lism faith Of the President.
At the close Of Mr. Wolcoti 6 speech
! notice was given by Mr.. Mills that he
would ask the Senate next Wednesday
to hear some remarks from him on the
repeal bill.
Then the floor was taken by Mr.. Caf-
fiery Dem., La.) His maiden speech in
the Senate was in favor Of the uncon-
diuonal repeal Of the purchasing clauses
OF the Sherman act. He warned the SEN
ator from Colorado CVolcotO that II he
expected TO smile away the serious
money troubles OF the country, rs Ger
vantes had laughed away chivalry and
romance from Spain, he was doomed to
sigrsl faitre.
Mr.. Caffery argued that II free coinage
were established at the ratio Of IS 10 J.
the object OF having both metals would be
defeated, for the country would surely
have nothing but silver. III at 20 to J.
the same result would occur. as silver was
worth but p TO ]. If the ratio should
be 2S TO 1, there would be either a gold or
HAiftA tAote avn AiiiH DO EDlH VI atfti
was over valued. The alternative of a
silver standard was not 10 be thought Of.
The United States were not going back
ward a hundred years to gr0pe their way
along with the South American states and
Mexico. Cotton would be sold abroad for
gold prices and paid for exchange calcu-
lated I'm silver, with large discounts for
fluctUatiOn, The United States would sell
in gold market aud bus lu n silver /
difficulties Of domestic exchange would /
be intolerable.
He was proud Of the position Of his !
native state on the money question. She |
had always been sound. and if His feeble |
efforts would avail she always would be. |
Sorely tempted she refused IN 1919 10 re- |
pudia.e the principal Of her bonded debt.
Now the seductive offer was made 10 /
debase the national currency. but her sem
ators Of this floor. true 10 their convic-
tions and the traditions OF their state,
had put aside the insiduous proposition. /
II might be his fate TO feel the temporary
weight Of the forces Of imitation. It might
be that the star Of his political life. just
rising above the horizon, would be eclipsed
in darkness. by reason of his vote; but
come what might. he should stand fast
to deep conviction that he should be
recreant to his duty and his oath should
he add one pang to poverty or one tear
TO want, or should he give the people a
currency that would refuse TO toll its re-
compense or to capital its reward
At the close Of Mr.. Canery's remarks,
Mr. Cull0m gave notice that he would adj
dress the Senate on the repeal bill next
Monday. The resolution offered last week
by Mr.. PETER I'm reference 10 national
banks refusing TO pay checks Of their de
positors in currency was taken up, and
against his opposition and that Of a score
II other Senators, was referred to the |
Finance Committee by vote Of 80 TO q, /
as follows:
Yeas-A1drich, Allison, Blackburn. Caf-
'ery, Camden, Carey, Cullom. Dixon,
Frye Gallineer Gibson, Cor
Ion. German. Gray. Hale. Hawley. Hig- |
,ins. Lodge. Mcmillan. Mcpherson, Mitch
~ (Ore). Mitchell fWis), Palmer, Pasco, |
'ower Proctor, Ransom, sherman. Squire,
'tockhrldge, Villas Voorhees,, Washburn
md White 0a)--35.
Nays-Allen, Bate, Can. CockreH Coke,
Iansbrough, Irby Jones Ne), Kyle,
Manderson PETER. Perkins. Pet
igrew, Shoup. Stewart, Teller. Vance.
'est, Walthall and White (Cal)-2l
Formal announcement was made Of the
cath Of Representative Mutchler OF
pennsylvania and the Senate al 3;15 ad-
burned TIL TO morrow.
House of Representatives
Immediately after the routine business ,
( the opening Of the daily session, she :
iouse resumed the consideration Of the
uies, and Pickler's amendment to in
rease the membership OF the Committee
II Rules from five TO nine was rejected
Mr.. Hookers amendment 10 increase the
to II was lost.
on motion Of Mr. Kilgore, an amend d
lent was adopted giving the Committee /
n Ways and Means jurisdiction over all e
leasures purporting 20 raise revenue. b
he purpose of the amendment is 10 i
revent such measures as the an-i-OptiOns 4
IN and the oleomargerine act from be- Il
" referred by the speaker 10 The Com "
lttee on Agriculture, as has been done 81
eretOfore
Mr. Springer offered an amendment | y
wing the Committee on Banking and O..
uTency the right 20 report an any time
! matters relating 10 banking and cur 81
'ncy. Mr.. Kilgore moved 10 amend Mr.
lrlngers amendment by including the si
ommittee on coinage weights and
easures In the list Of the committees
ithorzed 10 report at any time
Mr.. Kilgore's amendment was agreed
30 Yeas, 1888; nays. 95. ~
Then the vote recurred upon Mr.. +
,riugers amendment as amended and 4
was also adopted 102-5S. &c
ATr. Boafner offered an amendment ST
nich practically puts IL in the power OF es
iy member, who is in charge OF any k
roposiion on the floor TO propose ! III
)ture at any time he thinks IL adyisa-