Morning journal and courier., 1893-08-16
NEWS BY TELEeRlPH.
 From All Quarters. PICKING AT THE BIGBONR Debates in Congress on the
 Financial Question.
 SHE WAS PRlBABLY aURDERED. Arrests to Follow the Ex-
 humation of a Body VIGlLAaT PRaVeS 70 BE \ WONDER. She Did Good Work in the
 Races Yesterday.
VIGllAsT PRoVes 70 BE A WONDER.
QUICK ACTION WANTED.

Senator Lodge Says What should B Done With the Silver Bill-It Is No Party Question But one Tha Concerns the Entire Country Speeches by Senators WoIcott ana Hoar.
 WASHINGTON, Aug. 15.-The resolution offered last Tuesday by MT. Lodge direct ing the committee on finance to report a, once bill to repeal the purchasing clause of the Sherman act, and that a vote be talk. en on such repeal on Tuesday, the 22d was laid before the senate. and MT. Lodge made an argument in advocacy of it. The repeal of the purchasing clauses of the Sherman act was not, he said, new idea with him. Two years ago he had in- troduoed 6 bill for their repeal. He was far from thinking, however, that the Sher- man get was the only cause of the existing state of things. He believed the practical effect of its repeal would be tendency to lower the rates of interest on money, make money easier and relieve the existing strin- gency. The first step in restoring conf dence was to lower the present excessive rates of interest. Money was lending in London to day at t per cent. Referring to the remarks of MT. Vest yesterday as to the protests that would come from New England if legislation were proposed that would close it's factories, Ar. Lodge said:
 ''I am sorry to say its mills are closed now. At this moment, with the exception of two small mills, there is not spindle turning in the city of Lawrence, where 12,- 900 hands are usually employed.
 "There are 1000 people out of employ Lowell, in the commonwealth which in part represent. Multiply that by ten and you get some idea of the distress which rests on the state. Multiply it by 100 and you get some idea of the distress pervading all New England. While there is such 8 blight resting on the industries of my own state and all other industries in the states have no mind for party politics or delay. ask simply for action. I believe that the highest duty which the senate can perform Is to take the quickest action in this mat ter, and will close with @ quotation from MT. John Quincy Adams: I would not de- iberate. would act"
 MT. Wolcott replied to MT. Lodge. He agreed with the Massachusetts senator that this was not party question. He felt REcdtlJ Ic1lobcu III flOW OI BUILD uuplo65- ant relations in the senate within the past few years, that question had arisen on which the democratic executive and the Massachusetts senators might agree. It was a most delightful foreshadowing of the days when party rancor should cease and when all notes of discord should be blended in one harmonious melody. [Laughtsr.1 He believed the next thing in order would be for the president, who was untrsmmeled by any previous utterances on the subject, to frame some cleo ti on law the senators from Massachusetts, and then the reconciliation would be complete. Laughter.
 Mir. Wolcott said the only tangible stste- ment which he could get as to the injury wrought by the Sherman act, was that there was lack of confidence in Europe; but he did not find that that statement was borne out by the facts. Great Britain had suffered seriously in Argentine and in her own colonies, and she had been forced to sell her securities. The American securities held abroad were payable some In gold and some in lawful money; but the Am erican securities which came back to this country came back irrespective of the method of their payment. The New York and New Haven road stock and the Penn sylvania, stock which had permanent value had not come back, their dividends were payable in lawful money. The cheapest and weakest securities came back first. There had been little breathing spell, and then again had come healthy demand abroad. That demand had been checked by the Reading fasco. Then had come the trouble with the whisky trust and the breaking up the cordage trust, organized and managed by leading finan- ciers of New York. The Sherman act was not responsible for all those disasters. The existing financial panic arose partly because of European losses in South America and Australia, partly because Russia and Austria were buying gold, and partly because the United States had pur chased more goods abroad than it had sold abroad. All these causes were utterly in- dependent of silver and the Sherman act. Ali the legislation that might be enacted would not restore confidence to the men who had withdrawn their money from the banks.
 At the close of Mr. Wolcott's speech the Lodge resolution was laid aside without action, and Mr. Hosr addressed the senate on MT. Vests resolution as to bimetallism
 Mir. Hoar proceeding to a general dis cussion said that while. men on each side might differ as to the cause of the present | uuauClhl OcpISSSAooJ AO uOpCo buat nl could agree upon the remedy. The repub licans stood ready to hold up the hands o the president and restore that prosperit, which the country enjoyed down to Marcf | 4, 1893. Any man or party in the eas | who found desire to have in value or the purchasing power of th dollar increased in order that the value o goods or that permanent incomes might b increased, or in order that speculation il
 gold or in credits might be rendere'
 as profitable would be hurled fror
 power and buried in infamy by the swif
 and righteous indignation of the whol people of those states.
 At the close of MT. Hoar's speech dis
 cussion started as to responsibility for th
 demonstration of silver. Finally after a executive session the senate adjourned. l IN THE HOUSE.
 l WASHINGTON, Aug. 15.-Mr. Blanchard
 Louisiana, in the house to-day in speakin
 in favor of free coinage expressed his opil
 ion that if the republican platform mear
 anything not twenty republicans woul
 vote for the Wilson bill.
 MT. Grosvenor of Ohio said that it WI
 unfortunate that the president in his me
 sage had seen fit to first appeal to partisan
 ship and to unjustly proclaim to the peep
 that the present perils of the country gre