Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-09-01
FIFTY-THIRD CONGRESS.
The Maiden Speech of Senator Caffery.
II IL for ReptaI.
Dy telegraph to the Dispatch)

III IL for Repeal.
QBy telegraph TO the Dispatch)
WASHINGTON. Aug. S1.-SENATE.-
After some unimpOTtant proceedings Mr.
Cockrcll introduced a concurrent resolu-
tlon directing the Secretary OF the Treas
ury (undcr provisions of Section 254 Of the
Revised Statutesl to issue certificates not
TO exceed 20 per cent of the amount Of
gold coin and bullion In the Treasury, and
to use and exDend the same I'm payment OF
interest on the public debt. or any other
demand liability or obligation of the
United States.
lie read the section referred to-which
authorizes the deposit OF gold coin or
bullion I'm the Treasury and the issue
thereon of gold coin certificates. and also
authorizes the issue of gold certificates
TO the amount Of 20 per cent Of the gold
coin and bullion in the Treasury.
lie said that the passage of the concur
rent resolution would allow the use Of
from 25 TO S5 million Dollars in gold certif-
Gates.
The concurrent resolution was at his
own request laid on the table for the pres
ent.
The House bill for repeal OF the pur-
chasing clause OF the Sherman act was
then taken up, and Mr.. Wa)cott, ot Colo
RADIO. opened the debate with a prepared
| speech against tnc Dill, NtuNtItl III inc
presence Of almost all the senator's, and
of large audience in the galleries. The
most telling parts Of It, and those that
amused and interested its hearers most
were some numerous and sarcastic touches
i'm which he depicted the conversion OF
Democratic statesmen from their belief
in silver and their devotion to bi-met-
tallism to the gold monometallist faith of
the President.
At the close OF Mr.. Walcott's speech.
notice was given by Mr.. Mills that he
would ask the Senate next Wednesday 10
hear some remarks from him on the re-
| peal bill
Then the floor was taken by Mr.. Caf-
| ferv Democrat of Louisiana. His maid
| en- speech I'm the Senate was in favor Of
| the unconditional repeal OF the purchas-
| ing clause OF the Sherman act He warnsd
| the Senator from Colorado (Mr. WalcotD
| tnat If he expected to smile away the
| serious money troubles of the country
as Cervantes had laughted away chivalry
and romance from Spain, he was doomed
| to signal failure.
Mr.. Caffery argued that II free coinage
| were established at the ratio of 16 to /,
| the object of having both metals would
| be defeated for the country would surely
| have nothing but silver If at 20 10 /
| the same result would occur, "a silver
| was worth but % TO 1. If the ratio
| should be Is To l. there would be either q
| gold or a silver basis according as gold
| or silver was over-valued The alternative
| OF a silver standard was not TO be thought
| of The United States were not going
| backward a hundred years to grope
| their way along with the South American
| States and Mexico. cotton would be sold
abroad for gold prices and paid for in ex-
| change calculated in silver. with large
| discount for fiuctuation. The United
| States would sell I'm n gold market and
buy in a silver market. Besides. the en-
barassment Of domestic exchange would
| be intolcrable.
| lie was proud Of the position Of his
native state on the money question. She
had always been sound. and II his feeble
efforts would avail. she always would be.
Sorely tempted she refused in 1879 to re-
| pudiate the principal of her bonded
debt. Now the seductive offer was made
| 10 debase the national currency. but her
| senator's on this floor. true to their con
| victions and the traditions of their State
had put aside the insiduOus proposition.
II might be his fate TO feel the Temporary
weight of the forces of imitation. 1t
might be that the star OF his political
life. Just rising above the horizon, would
be eclipsed in darkness by reason of his
| vote: hut come what might. he should
| stand fast to a deep conviction that he
should be recreant to his duty and his
oath should he add one pang to poverty
or one tear TO want: should he give the
people 4 currency that would refuse "
toll its recompense or to capital It's re-
ward.
Al the close OF Mr. Caffery's remarks
Mr.. Cullom gave notice that he would
address the Senate on the repeal bill
next Monday The resolution offered last
| week by Mr.. PETER with reference 10
national banks refusing 10 pay the check'
| OF their deDositOrs In currency was taken
up. and IN spite of his opposition and that
OF score of other senators was re
ferred to the finance committe by vote
of S5 to q. as follows:
| Yeas-Messrs. Aldrich, Allison, Black
burn. Coffery. Camden, Carey, Cullom
Dixon. Faulkner. Frye, Galllnger, Glib
son, Gordon. German. Gray, Hale, Haw'
ley, Higgins. Lodge. Mcmillan. McPher-
son. Mitchell (Orcgon), Mitchell Owls
consin). Palmer. Pasco. Power, Proctor
! Ransom. Sherman. Squire, Stockbridge
Villas. Voorhees,. Washburn, and White
| louisianal-35.
| Nays-Messrs. Allen. Bate, Call, Cock
rell. Coke. Hansbrough Irby, Jones CNe
vada) Kyle. Lindsay Manderson
PETER Perkins. Pettigrew. Shoup. Stew,
1 art. 1elieF, vance,. NGSt, NNiNiA"h' "A'N
| White (Californial-2l.
Formal announcement was made OF th'
death OF Representative Mutchler OF
PENNSYLVANIA. and the Senate, at SD
adjourned till tomorrow.
House of Representatives.
| Immediately after the routine business
OF the opening OF the daily session, Tn
| House resumed the consideration OF IN
| rules, and Mr. Pickler's amendment 4
increase the membership OF the commite
| on rules from five te nine was rejected.
| Mr.. Hoker's amendment to increase IN
| membership TO eleven was lost.
On motion OF MIR. kilgore an amend
| ment was adopted giving the committe
on ways and means jurisdiction over al
measures purporting TO raise revenue
The purpose OF this amendment Is TO pre-
| vent such measures as the anti-optioi
| hin and the oieomargarine act from beinl
, referred by the Speaker 10 the committe
| on agriculture. as has been done hereto
fors.l
Mr.. Springer offered an amendmen
giving the committee on banking and cur
rency the right 10 report at any time o.
matters relating TO banking ana cur
rency. Mr.. Rngope moved 70 amend Nj
springys amendmeot by inciudins "a