The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-01

clsiNo 6CtlO0, especially IN Wow Oh tuo ibct
that every body seems to be depending on
Congress for q solution OF our financial
troubles. i think the Presidents has acted
wisely, and have no doubt that ss soon as
Congress gets TO work it will repeal the
Sherman act voted against the bill when
lt came up on O yea and nay vote and when
it passed, and told the silver men who sup
ported it that it was not the legislation
they needed for silver. and they would
live to regret the day they supported 1t.
That day has come. /, for one. shall vote
for its repeal. It must not be understood.
however. that abate a single jot or little
of my adherence to the coinage and use OF
silver as money under proper regulations
for it's parity with gold"
To another reporter Senator Voorhees,
said: II never was in favor oftbe bullion
purchase clause OF the Sherman act. L
consider It fraudulent and deceptive legis-
lation. which simply reduces silver to
commodity and Issues shin plasters on 1t.
We might as well buy and store mp cord
wood. That clause should be repealed at
once"
The Associated Press says: There seems
every reason to believe that all the specu-
latiOps as to the time of meeting of Con-
gress INDUCED prior to P. NJ. to-day were
guesswork. pure and simple. Some of them,
as 1t turns out now, were very lucky
guesses. and others were equally unfortu-
nate. 1t Is almost conclusively established
that the calling of an August session was
not even determined upon until after mid
day to-day, and consequently could not have
been communicated to any person, in con-
fidence or other ise, days in advance. Tho
plain facts appear to be that the disturb
anoes of values arising from the uncer-
tsst n OF 'Os SO
to acknowledge that the 'un-
expected contingencies" neosssitatipg
an earlier meeting of Congress which he
spoke Of In his celebrated interview of
AaA .t ha
British governments IN India brought mat
ters to crisis. Previous to that startling
event Mr.. Cleveland had manifested de-
termination to adhere to his plan of calling
Congress in September. After the suspen-
eion OF silver coinage In India the Preei-
dent resolutely declined to speak further
about his intentions until he should be
prepared 20 act. ond each of his Cabinet
officers maintained similar silence. 1t may
be stated, however, without violation OF
confidence, that from tho day the an
nouncement of the action of India was
made the President took steps to keep
himself forewarned through the press
dispatches OF the slightest approach TO a
panic in the money market. prepared at
any moment TO take the course which he
has now adopted if it seemed to him that
his go dong would in any way tend to
allay alarm and restore public confidence.
When, to-day, he found kilograms on his
table not only from the Eastern and Mid
even from some of the silver States, urging
that Congress be called together at the
earliest day possible to end the uncer-
talnty, he determined TO delay no longer.
But. even in taking this action. the Presi-
dent took steps as far as he could TO pre-
vent it's being known before the Stock Ex-
change closed. so as to avoid any appear
ance of exercising any unduo influence on
the stock market.
BYNUM AND BROWN FOR REPEAL
"It is q good thing" said Mr.. Bynum, Of
Indiana, land l believe 10 will result in the
repeal of the Sherman law, at the door Of
which much. If not oil, the present financial
trouble can be laid. The earlier Congress
ropeals the Sherman act the better it Will
be. l believe it can be repealed. and fail
to see any great difficulty in wiping from
the statute booksa law which everybody
condems and nobody favors. Indiana Is
for repeal"
II voted against the Sherman act before
and Will vote for Its repeal Dow." said MIR.
Brown. of Indiana. "Mr. Sherman's law
has been terribly expensive to the country
at large. The Sherman act. it is claimed,
was passed to prevent the enactment of q
free-coinage bill. 1t wou1d be nearer the
truth to Say thatit was passed to keep MIR.
Harrison from vetOing q free-coinage bill
and appearing before tho country as an op-
pOnent of SILVER"
Representative Dockery. of Missouri, de-
cllned TO discuss the probable action of
Congress when it came to do with the
money question. IL can express no view
upon the subject" said Mr.. DOckery, ''for
the reason that ( have not talked with
enough members to know whether the
Sherman law can be repealed or not. Un-
less / knew what q canvass would show, 1t
would be foolish for ne to make q predic-
tiOn. So far as the action of the President
ls concerned, think it Is eminently proper
under the circumstances"
Senator Harris. President pro tenn. of the
Senate. could not be seen personally, but
from one TO whom he had spoken relative
TO the calling of an extra session, ID is
learned that he expressed the belief that
the sooner it was done the better 10 would
be for the whole country.
The Presldente proclamation, it's effects
and the probable result on the action of
the coming Congress was the leading topic
OF conversation in the hotel lobbies TO-
night where politicians are accustomed to
gather. There was noticeable increase
in the number or members of tho next
House. the report having drawn them to
the news Centers where they discussed the
matter from every point of view. The
action of the President. 1t is apparent,
meets with the cOmmendat ion and ap-
proval of most of the members and
politicians now In the city. and the opinion
is almost general that the Sherman act
will be repealed. This proposition is not
refuted. probably for the reason that the
free silver mon who will conduct the fight
against repeal have few mem bers ow in
the city. The free silver men. however
will oppose any attempt TO repeal the Sher-
man law with all shelr strength. The fact
that the great mines in the West have
been closed will be utilized as a weapon
with which to foroe any wavering mem
bers il their ranks back into the fold.