Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-18
The Silver Question to Be Debatsd
in the Senate.
MR.VOORHEEU REPEAL BILL INTRODUCED
Senator Vest Promptly Presents a
Substitute.
SPEECHES IN THE HOUSE.
THE SENATE.

the absence of the Vice President by Mr..
Harris CTenn.), president of the Senate pro
tenn
A long communication from the Secretary
OF the Treasury was presented and read on
the subject Of gold and silver payments. 1t
is therein stated that on several occasions
recently gold coin has been presented at the
treasury in exchange for silver dollars and
that the exchange has not been made be-
cause silver dollars were required to be held
In the treasury to cover outstanding silver
certificates and treasury notes: and that
at present the department would not and
could not exchange silver dollars for gold
If requested to do so. A motion to adjourn
over from today till Monday was made by
Mr. Faulkner CIV. Va, and was resisted
the former suggesting the propriety Of pro-
ceeding with the debate In the Montana
senatorial case; and the latter urging action
on the national bank circulation bill
Mr.. voorhees, Und), chairman of the
finance committee, concurred in the neces-
sity or action on the national bank bill.
said. that he was seeking to do something
In the interest of the national banks. He
was seeking to avail himself of their
power, OF their interest, of their cupidity
In order to increase the circulating medium
and thereby supply the pressing wants of
t the i,a aes people 1t was not bill in
mind.
AFTER 1urther discussion the motion to
adjourn over was withdrawn.
The Finance Bill Reported.
Mr.. Voorhees, then reported from the
committee on finance a bill to discontinue
the purchase of silver bullion and declar-
ing 1t to be the policy Of the United States
to continue the use Of both gold and silver
as standard money.
Mr.. Vests Substitute.
Mr.. Vest (Mo) on behalf of the minority
of the finance committee, presented a sub
stitute for the bill. The substitute fixed
the number Of grains of silver in the silver
coins Of the United States 46i.4 grains Of
pure silver per dollar and proportionately
for half dollars, quarters and dimes.
The bill and substitute were placed on
the calendar, and Mr.. Voorhees, gave no.
tice that he would call up the bill and ad-
dress the Senate upon it on Tuesday next.
The National Bank Bill.
The bill for the increase Of national bank
circulation was then taken up and Mr.
Allen CNeb) advocated the adoption of the
amendment offered by him last wednes-
day to suspend interest on the bonds on
which the increased circulation is based.
He spoke from desk in the front row of
made a very favorable impression this, his
first effort In the Senate.
In his Judgment the bill would commit
the country to the policy OF a continuance
Of the national banking system. and he
believed that the time had come when
safety required the overthrow Of that sys-
TEN and the wiping of 1t out Of existence
as speedily as possible.
Nine-tenths of the people Of Nebraska
were he declared. uralterably opposed to
anything looking to the perpetuation Of the
national banking system.
senator Stewart on Silver.
Mr.. Stewart Of Nevada addressed the Sem
ate and gave a history Of recent move
ments on the silver question at home and
abroad. He declared that the Sherman act
must not be repealed until the whole Ques-
ton was investigated and discussed and the
condition of silver as a money metal pro-
vided for. He did not believe that the Sen
ate or the House had any intention of
plunging the country into the abyss of
misery which awaited it on single gold
standard.
He hoped that the pending bill would be
stripped of every objectionable feature and
then passed. This was no time, however,
for the national banks to ask a further
subsidy until every effort was made to re-
lieve the country. If that effort was not
made In good faith it would not be because
of the silver men. They woald agree to
everything that would give relief. They
asked no subsidy. no advantage, no change
of policy. In conclusion, Mr.. Stewart said
he would discuss the silver question more
Mr.. Mcpherson argued against the Allen
amendment as calculated to defeat the
whole measure.
"uhuSTbou Ior nePeaIs
Mr.. Henderson opposed his colleagues
amendment and favored the immediate
passage of the bill. A like bill had passed
the Senate three times. he said, without a
word of opposition. He had voted hereto
fore for it and he would vote for it now
and against any amendment to Ii, because
he believed some dispatch was needed.
Quick reflex was demanded and Congress
should be quick to act rather than quick to
debate.
He totally disagreed with his colleagues
as to nine-tenths Of the people oc Nebraska
being opposed to the national banking
system and he referred to the last report
of the controller OF currency showing that
there were in that state 10 lation.l banks
with an aggregate capital stock OF $1,000
600 and with deposits aggraslting ever So
100000.
That amount Of deposits did not show
that nine out of every ten men in Nebras-
ka were opposed to the national banking
system. He argued that national banks
profits were made from deposits and dis
counts. and not from their circulation. Mr.
Pugh suggested that such being the fact.
should not resume Its proper constitutional
power and issue all the currency which tie
people needed in their business.
A short colloquy followed between Mr.
Pugh and Mr. Henderson on this point n I
the conclusion OF which MIR. Henderson took
his seat.
ton OF personal privilege. and sent to the
desk a copy of the New York World of
this morning. in which 1t was stated that
at the meeting of the finance committee
yesterday Mr.. Harris had lost his temper
and had spoken to Mr.. VOORHEES, in a de-
in few words, denied totally that any
such occurrence took place.
THE HOUSE.
The silver debate was resumed immedi-
ately after the reading Of the journal and
the floor was accorded to Mr.. Sibley pa,
who is in favor of bimetallic standard.
He spoke in support OF the proposition sug-
gested by Mr.. Johnson Of Ohio, providing
that the holders of United States bonds
might deposit those securities with the gov
eminent, receiving therefor treasury notes.
The time had come when the clearing
houses Of the great cities should no longer
dominate and control the policy of the
81, 0C00 900 workers of this land The BIZ
metallists were as anxious as were the
gentlemen on the other side to put a speedy
end to the present depression. and this
end could be attained here and now by
enacting in law the Johnson proposition.
panic. One of these causes was that the
| gentlema, from Ohio CHR. Harter), the ex-
Congressman from Massachusetts George
| Fred Williams), and others had howled in
speeches and through the magazines had
| howled necessarily for a single gold stan
dard, and had predicted disaster.
| The gold men called the bimetallists
| Calamity howlers," yet if there had been
more Calamity howlers" than there had
been on the other side. he did not know
where in the pages Of history to find them.