Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1893-08-19


Washington, Aug 15-The senate
committee on finance 10y a practically
unanimous vote this morning decided
to report favorably the bill introduced
yesterday by Mr. Voorhees, providing
for the issuing of circulating notes TO
national banks to the par value of gov
eminent bonds on deposit to secure
circulation
Mr.. Voorhees, win endeayor to put
the bill on its passage at once.
The senate finance committee this
morning decided to hold daily sessions,
beginning Thursday next during which
time they will endeayor to reach some
conclusion ON the silver question. Sen
ator Voorhees, subsequently notified the
senate of this action, and asked for
authority to sit during the sessions Of
the senate
Mr.. Gordon, of Georgia, introduced a
hill to suspend for six months the OPP
Grafton Of the law taxing the notes of
state banks 10 per cent The bin was
referred to the finance committee
When Mr. Voorhees, reported back
from the finance committee the bill
to enable national banks to issue cur
rency to the amount of the full par
value of bonds, Mr.. Coclrel, demo
crat, of Missouri objected to its lmme-
date consideration. The senator then
proceeded to make an argument against
It as fayoring the national banks to
The disadvantage of the state banks.
Mr.. Voorhees, said that as Il single OBJ
lection caused it to 90 over till tomor-
row he would now give notice that he
would call it up tomorrow and move
to put it on its passage.
After the Voorhees, bill had gone
over Mr. Coclrel asked the senate to
consider and pass the house joint reso-
luton for the payment Of mileage TO
senators and representatives for the
present session,
Mr.. PETER, populist, of Kansas step
pod in with an objection and the rcso-
luton went to the calendar.
The Lee-Mantle case, involving the
question of the right of governors Of
states to appoint senators under Ger
tain circumstances was then taken up,
and Mr. Hunton, democrat, of Virginia,
addressed the senate in support Of Mr..
Nantes right to seat
Lodge then made an address in adj
vocacy Of his resolution offered Tues
day last directing the committee on
finance TO report at once the bill to
repeal the purchasing clause Of the
Sherman act
What the people want, ne said, is
prompt action, He had no mind for
party policy or delay
Woolcott of Colorado, replied at
length. He had yet to hear any in
telligent man state that he firmly be
lieyed the sherman act has wrought
the injury under which the country
now suffers. The real cause of the
present financial panic is to be looked
for elsewhere II came 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
purchased more goods abroad than it
had sold abroad All these causes were
utterly Independent of an irrespective
of silver and the Sherman act All
legislation that might be enacted would
not bring back confidence to the men
who have withdrawn their money
from banks.
The lodge resolution was then laid
aside without action and Hoar ad-
dressed the senate on Vests resolution
as TO bimetallism. Republicans, he
said, stood ready to hold up the bands
Of the president ana restore that pros
perity which the country enjoyed down
to March f.
He entered upon a long discussion
concerning the production Of gold and
silver, during which he announced him
self in favor Of both these metals as a
currency on a parity.
At the close Of Hoar's speech, a dis
cussion started as to the old question
Of the responsibility for demonetiza-
ton of silver After it was carried on
for some time the senate adjourned
HOUSE.
After prayer and the reading and
approval of the journal before a small
attendance Of members) Mr.. Burrows,
Of Michigan, offered a resolution Civ
ing Charles Z. Bellsnap the right to
contest the seat Of George f. Richard
son from the fifth district of Michigan.
Mr.. Richardson (the sitting member
asked that the resolution be laid over
until tomorrow, and il was ordered.
The silver debate was then resumed.
Mr. Hutchius, democrat Of Texas, con
Guiding his remarks
Mr. Hutchinson was followed by Mr..
Blanchard Of Louisiana. who spoke in
favor Of free coigage.
Grosvenor. Of Ohio, made the really
first republican protest against free
coinage
Republicans, said Grosyenor. could
be- relied UuOn 10 do their dufv This