Omaha daily bee., 1893-08-22

interest and ut no, time were the galleries
wsis senniSr lillsa' Morrill, made an ,rsumeD, in
favor of the repeal OF the purchasing clause
of the Sherman actuud tho Lee Mantle case
was taken up. After discussion IL was de-
cided to postpone ttfestbte on the resolution
to seat MIR. Mantle yntil Wednesday at 5
y. m.
The bill to aid the "midwinter national
exposition" at San francisco was passed.
MIR. Pcffer otfered89ubstitute for the bill
to increase the national bank circulation.
MIR. Chandler offered resolution. which
was referred TO tha,cpmmittee on privileges
and elections, declaring there was no law
full election OF a United States senator in
Kansas by the joint assembly which met on
January %, 1898, and that John Martin is
not entitled to n seat as senator
MIR. Stewart offered resolution, which
was agreed TO, calling on the secretary of
the treasury for statement as to the silver
bullion purchased in July, 1893, with prices,
aud as to the bullion offered for sale In the
same month, with prices asked.
Mr. Morriii's speech,
The finance committee bill reported last
FRIDAY, ontinuing the purchase of silver
bullion, was taken up so as to give Mr.. Nor
rill chance OF addressing the senate in
favor of the bill. He first however asked
and obtained indefinite leave of absence, re-
marking he was in the senate chamber
against the advice of his physicians He
then proceeded to read from slips his speech,
bearing the motto, Sound Money Cheats
Nobody"
He said he had not yet abandoned all hope
OF bimetallism, ana for that reason he would
gladly vote for the repeal of so much of the
act OF 1890 as required the purchase of silver,
in order to remove the wide distrust which
1T had caused. The country would continue
TO De dependent on paper as well as on silver
and gold, and as the silver dollar would not
be demonetized thereby, whenever more sill
yer could be coined and utilized without
crowding gold to premium it would be
done by universal consent. But the treas
ury should be relieved from the embarrass-
ment of furnishing gold TO pay for silver
bullion. The substitute which the silver
mine owners demanded for the repeal OF the
purchase clause, he said, was the very meas
ure most feared by the country, as 1t would
bring with it single silver standard.
Favored BimetalIism Conditionally.
He did not, however, favor bimetallism
without an increase of silver IN silver coin
age, as without an increase it would be i'm
possible to maintain any parity between
gold and silver, even with the cooperation
Of many nations. Nor could he favor the
free coinage of silver by the United States
alone with the ratio between the two
metals to be advanced from 16 to 25 to l or
even to % to l. for the reason the present
colossal output of silver could not be an
nually absorbed by any single nation, and
preposterous attempt to absorb it on our
Il u
Colorado, but would provoke the rldicule of
the commercial world and cause its further
depression. No remedy would have n
prosperous ending which did not fully
recognize the existing extraordinary amount
of silver which must, be furnished with a
now market. If the senate should tamely
assume the burden of monopoly of silver
that might induce France and other nations
10 join the gold monometallists Of Europe,
there was therefore, no possibility of cir
rl m IN cpull lopriva this
OF It's large and natural share of the worlds
gold unless by coinage it went directly to
the silver Standard or unless the revenue
laws were 50 framed asi to make the imports
exceed the exports permanently, ard that
was u risk which no political party would
take. With u sound currency foreign gold
capital would flow into our country by mil
lions for Investment, but with any cheap or
uncertain standard of money panics would
be an every day occurrence and foreign
capital would stand aloof and foreign cred
itors would demand prompt return of all
Investments. 2nC
Other Nations sIpst BE Enlisted.
You will understand, Mr. Morrill, con-
tinued, 1t will be necessary to enlist in any
international agreement considerable num-
bers of nations that will each take their just
proportion of the present, enormous annual
production of silverOor;i it must necessarily y
be a failure. Nevertheless an intern stional
| agreements the best hope OF perman ent re-
| lief, and after proper action here on our part
the chances will be greatly multiplied to
| equal responsibility. 1t may be called u bit
| ter remedy to stop purchasing silver, but
| without it the case is hopeless. If in all the
world we are now the only purchaser of sill
| yer. to cease from it might temporarily
! cheaper its price, but to open our mints to
its free coinage would permanently
cheaper its value, as It's solitary ac-
! cumulation in our hands has al
ready sufficiently demonstrated. In
| the language of Burke, "a wise and Statutory
| can now render to silver. The crucial test
! is whether we are or are not to drop the
bimetallic standard Of gold and silver and
maintain on parity the dangerously Grip
| pied standard of silver only This grave re.
| sponslbllity rests upon a democratic admins
| tration, now in full control of both branches
| of congress, as well as the executive de-
| partment No department can be main
| tanned which does not fulfill its pledges.
| The public debt, national and state, and all
| other contracts by our recorded pledges, are
| payable in legal tender on parity with gold
! Tho honor of the country may be IN peril
| Whatever policy will relieve the public dis
| tress will be my policy. Whatever party
! favors the public credit will have my favor
| Whatever measures support public honor
| will have my support
Had Carlisle's Letter Road.
/
| took little over an hour in its delivery, MIR
Voorhees, placed the letter addressed to him
! by the secretary Of the treasury showing the
probable cost of coinage of silver at a
changed ratio, and had it read by the clerk
| saying he deemed it his duty to lay 1t before
| the senate and country
| Mr.. Vance, chairman of the committee on
| privileges and elections, suggested that The
vote on the Lee Mantle case. which was tc
be taken at 5 today, should go over until the
same hour tomorrow, but as Mr.. Voorhees,
expressed desire to address the sen ,te to
morrow on the, silver bill, it was agreed
| that the vote on the Lee Mantle case snoulc
be taken at o'clock Wednesday.
At the request of MIR Voorhees, the bill
reported by him this week from the finance
committee in aid of the California Mid
winter exposition was taken up and Mr.
White of California stated the objects Of the
bill. 1t simply permitted, he said, the re
moval Of dutiable goods and Of European
workmen from Chicago to San Francisco
No money was asked from the government
He held two messages, one from the mayo
of San Francisco and one from Mr.. DeYoung
director general Of the exposition. statini
work would begin with the passing of thu
bill and would employ thousands of men
The bill was passed. a.
The Lee Mantle case, Involving the righ
OF governor to appoint senator in cas-
the legislature failed TO elect one, was takel
up and Mr. Vance and Mr.. George argued
against the right OF appointment in sucl