The Bessemer indicator., 1893-09-16
country to prevent it. the frat o.. September
would have seen better times In the fnances


tncing today i,wss admitted nov by all the
great financial authorities OF New York ths.
the panic WAS over lie met one day recently
a gentleman of national reputation and said
to him; when will this panic be overt "
| That gentleman replied: when the men
who called II on call II on. The bankers OF
New York called 1t on, when they get ready
to call II oa, Il viii come of y
The calling of Congress did not relieve the
country, Ia fact the condition became worse
FROM the tine Congress wss called IN eStrs-
rrdinar' sessloh Mt. Tel,et said he would n.
some other time give to the Senate hi. CON
ception OF the cause for the recent distressed
condition. In hi. opinion II was due Ia leg
islative misconduct Mr.. Teller next directed
j himself To stock operations and declared that
one chief cause OF the panic was the collapse OF
several great railroads, Mr.. Teller closed his
address and the senate adjourned
HousE-rhe House held n hrirf session
but no business OF Importance was transacted,
TUESDAY. sept. ieth.
] srS,rr-The Vice President laid before
I the Senate a letter from the Treasury depart
nent in relation TO the redemption ui silver
certificates. 1t is stated that 81 ,213,26. OF the
notes provided for by the sherman act were
/ redeemed In silver coin during August l,eS,
. that STA, ,Odl ,4i2 teVinas. VAluel of silver
| bullion purchased under that act and subject
I T., coinage i- TOW held In the treasury. Also
letter ftoti the Secretary OF the Treasury
stating that there was available on the 'th
inst. for The enforcement of the Chinese eN-
elu-ion ae, sta,502
Then the repeal hill MAS taken up, and Mr
Mitchell Republican, Oregon took the floor
] In opposition 10 It. Mr. Mitchell referred to
l the disastrous effects ~ the depreciation Of
silver III the Interests of the farmer, shoN Ing
how the price ui all turm products had fallen
] with that Of silver. The eyes OF the money
changers OF Lombard street aud the uncon
sciunable stock gamblers Of Wall street we're
ccntcred upon the Senate OF the United
States never before. They waited with Ill
concealed anxiety the result of \ vote that
would increase bv one-half the purchasing
power OF gold and Gu, down in like proper
lion the price OF every agricultural commod-
lty produced In th, country
A; the conclusion ~ MIR. Mitchell speech
J. Mi ilaslty lRcpubllcan, Conneclicull ad-
dressed the Senate. lie said he was In favor
while willtng To be ns patient rs possible with
the opponents Of repeal there was one general
misstatcmeni which had been itoratcd aud
reiterated until be was tired Of IT, That was
that there was somebody who believed In the
total destruction Of half Of the currency OF
the world. There was not Senator In the
chamber now or at any time 10 whom 1t
would apply 1t was terrible msstatement,
q sophlsticnl statement, false statement
practically. Mr. Mitchell sskcd whether the
senator from Connecticut thought any other
legislation IN reference TO silver was necessary
after the repeal of the Sherman act to carry
out his views, and on being answered In the
affirmative asked "Why not put it in this
hlllf'
a won't; that Is all =. replied Mr. Hawley,
and laughter enrued. "lf you begin to com
promise, or patch OF tinker, and add
schemes you simply kill the scheme
Everybody WAS hiInetaliist,h said Mr.
Teller, "anl yet he could point 10 many pro
fes-ed himetall,ts Ia the Senate who had
never given a vote In favor Of hlmetallism,
II was bimeallism In which gold was the
standard and silver was subordinate 10 it,
Me Hawicy said II the bin were passed
aud in few months II should develop that
the East and the West were Isolated. It was
quite competent for Congress 10 reconsider
IT. action, and it would be likely to 10 so.
Mr. stewart then obtained the floor, and
was speaking when the Senate adjourned
wcdnc.d,y, September Iaah.
SENATE,-Tho resolution offered by MIR
stewart FOR n committee to investigate whether
senators are Interested In national banks was
then taken up and that gentleman spoke In
support Of It, adoption. MIR. Allen tpopu-
list, Ncbraskn) favored the adoption of the
resolution. He said there we're hundrcds OF
thousands II not millions, OF people In The
country who believed that much OF the leCis-
iatIGn Of Congress WAS Influenced By ihe per
-onal Interests OF senators and members, II
they we're mistaken H. was due 10 senators and
neubers bat the people he enlightened on
the subject. No action WAS taken.
The repeal bill came ui', and Mr.. Voorhees,
in order 10 elicit expression, asked that one
week from to-day the general debate ciosc,
with the understanding that amendments
then ho discussed under the Eve minute rule
until saturday at . o'clock when vote
should he taken. Mr Dubois Of Idaho OBJ
ected, and asked Mr. Voorhees, n there wa
. likelihood of the repeal I'LL being supple
Inrnted by other silver legislation. MT. Noor-
hees replied that there certainly would ne.
Mr.. Dubois said that burnt children dread
the IRE Wa there any Senator who could
say thrt the present executive N0lld sign H
bill fayoring silver He had not heard it
stated Tile Senators from The silver states
did not ptnpU.c 10 repeal the sherman act
knowing that for thr-e tud half years AT
lea-t no relief could be secured.
Mr Shuup tldahpl then addressed the
senate In opposition to the bill.
Mr. shoup had spoken but q few minutes
when Mr. Stewart called attention to the alb
scucc OF y quorum The roll being called,
- senators responded, Hud Mr.. Shoup con
uludcd his remarks.
Mr Dolph Republican, Oregon, who fol-
lowed Mr.. shoup, did not believe that with
free coinage at 10 to !. or % TO !, or any
other ratio, the concurrent circulation OF
gold and silver could be secured. The
I nlted States was confronted by condition
to which II must submit
Mr. Teller said that he would reply to Mr.
DOlph some time IN the future.
On motion Of Mr.. VOORHEES, the senate
went Into executive session and shortly after
wards adjourned,
HnU-E-After being tide the House got
down to work lo-day The whole day was Oc
cuprd IN considering the bill providing foi
the printing aud distributing of public docu.
mcui. one hour and forty minutes wns
consumed II deals With the cutire question
af the printing and distribution of public
documents aud substitutes FOR he old plan
-y-tcm proposed by 3 joint committee Of the
House and Senate nj the last session. II aims
ut economy by the appointment Of "a bureau
through which all documents shall be .cDi
out thus reducing largely the nuuhrr uf cm-
pluyes ley concentration. and prevent, cXlen-
-lVc duplication that now results from the eN-
isteuee Of the many different sources from
which public documents are distributed The