Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-16
CONGRT.ss
senator woicoti, of Colorado, ON inc
sherman Act.

sherman Act.
WAsHtNGToS, Aug l5.-fn the Ben.
ate this morning Gordon Of Georgia
recalled plank IA the last Democratic
platform by presenting a measure TO
suspend Tor ninety days the law i'm.
I0sing ten per cent tax on state bank
Issues. The proposition was not 10.
Ceiyeu with any particular warmth by
the Senate anu II was referred to the
nnHnce committee.
Voorhees, reported hack from the
committee tho bill introduced by him
yesterday ns measure OF RELIEF. IL
had, he FAiI, the approval Of the com.
mitlee aud the secretary Of tho treas.
ury anu he hoped ths Senate would
take the matter up,
Cockrell OF Missouri objected aud
the bill went over.
CCCkrull then asked the Senate 10
PASS tho House joint resolution, Tor the
payment VI mileage 10 senators aud
representatives for the present session.
Went 70 tho calendar.
Ledge made an address In advocacy
" his resolution, offered Tuesday lasl,
directing the committee ON finance
~ report at once bill 10 repeal the
purchasing CLAUSE Of the Sherman act.
What tho people wanted, no said, was
prompt action.
Wolootl Of Colorado replied at length.
He had yet ~ hear any intelligent
man state that he FIRMLY believed the
Sherman act had wrought the injury
under which the country now suffers.
The Sherman act was Illogical aud
vicious, In that II made OF silver com.
modify anu ielt the silver bullion In the
treasury unooined. IL bad some al-
yanIages, however. It's quasi recog.
hlti0n VI silver had been " minute
value, as II had Inspired u hope Of BIZ
metallitm, anu, Ia tact, II had afforded
an enlarged currency from month 10
month lot tho past three Yeas. The
only tangible statement that no could
got ~ 10 the injury wrought by tue
Sherman act was that there was "a lack
OF confidence IN Eur0pe, but he did
not nnd that statement borne out by
facts. American securities hnd been
hold eLOTmoualy In Great Britain.
Iho Sherman act was not responsible
Tor the Reading fiascO, or the whisky
uust trouble, or Tue c0rdngo trust
Trouble, anu yet the New lOrK papers,
striking balance between tue quo
laliOns OF now anu q year ago, argued
That silver and the Sherman act was
Responsible for all those Jisasters.
The real cause Of tbs present flnan-
elhl panic was 70 be looked for else
where. IL came partly because Of the
European lossrs In SOuth America ahd
Australia, partly because Russia anu
Austria were buying gold ana partly
because the United states hud puT-
elaseu more goods abroad than IL had
sold abroad. All these causes were
uNutiy independent and irrespective Of
SILVER anu tho Sherman act. All the
Wthlatlun that might be- enacted
would not bring back confidence ~ the
men who have drawn their money
lfgu the bnuks.
WolcoIl expressed the conviction
!uAl when prosperous days came bnck
luis county it would be after 10 had
announced to the world that this WBsR
lA9lon Of blmeiallists, believing in hard
lohtyi both gold anu silver, anu that
"pfOpused 10 have It's share OF the gold
tue world, was rich enough to mold
NAul was entitled by its resources aud
,hullion 20 hayu II. That NJ the same
me II pTopO,ed 10 open IT, minis 10
"ee ana unlimited coinage OF silver
sau mat we had returned 10 the paths
We founders OF the Republic.
Louge's resolution was then laid
ssue without action, and Hoar nj.
dressed the Senate on Vests resolution
" bi'metallism. Tue Republicans,
~ said, stood ready TO hold up the
'ahus " the President and restore that
spefily which the couutry enjoyed
sMn to March 4Ih.
'Ihe Republicans are told daily that