The herald., 1893-08-23

said the president had never recalled,
retracted or explained q single word ol
his letter of acceptance which WAS just
as binding a. when first given to the
world. He (Voorhees) was willing to
stake his. faith in the truth and honor oi
Grover Cleveland and his well known
fidelity to pledge when once made.
He paid 3 hiRh tribute to Secretary
Carlisle, and said: "dod help the
Democratic party If We are to turn our
backs on such men as the president and
his secretary"
He spoke Of the ratio as matter OF
detail which congress would establish on
fair basis. He said the people would
not tolerate single gold standard and
then addressed himself to q denounce-
ment Of the selfishness and greed OF the
money power which had done so much
to aggravate the financial situation, and
spoke in favor of the present pension
srstem a. helpful in the distribution OF
money. He urged the necessity OF the
government in providing new circu-
latiug medium in place of that furnished
1t present by national banks. He
favored, in addition to the money issued
by the government, currency properly
guarded, issued BY state banks. He
urged the necessity Of financial legisla-
ton which would furnish a sufficient
volume Of currency on practically specie
basis, guaranteed by public honor, and
second, to deprive individuals, corpora
tions or syndicates, of the power to
cause huctuation in the amount OF the
different currencies in circulation; third.
to maintain ON parity gold, silver and
paper money fourth, to settle the stat
us of silver money by authorizing it to
form . portion of the specie basis re-
quired BY the constitution for chartered
banks fifth, to overthrow the dangerous
Capitalization of the money power now
existing at two money centers, in the
hands Of Q few individuals, by giving
the people of each state the right OF
home rule on the subject of money, thus
securing them q home circulation. 10
these FIVE propositions he added care
fully adjusted and graded income tax, ss
the most equitable and upright measure
for providing government revenue.
The delivery of the speech occupied an
hour and 35 minutes. After voorhees,
took his seat he WAS congratulated by
many eDatore.
The debate was continued by Dubois
of Idaho in opposition to the bill. There
was not senator on the floor, he said,
who had not been elected on platform
which pledges him to bimetallism. He
insisted that no representative OF the
people had moral right by his vote, or
on his own judgment, to put the country
ON gold standard. 1t would be a be-
trayal Of the people.
Palmer argued in support OF the bill.
ko fosr II ho nof1
that the president did not favor the use
of both gold and silver as the standard
money of the country, nor did it follow
that because the president failed to say
a word with reference to bimetallism in
his recent message to congress that he
would disapprove legislation providing
for the coinage of beth metals that
would be of equal exchangeable and in
trinsic value. He expressed the opinion
that the majority of the American peo-
pie not only approved, bnt would
rapturously applaud legislation that
would establish and maintain the
bimetallism OF the Chicago
convention. He believed, however, that
in the present state of the market 1t was
beyond the power of finite mind to fix
the ratio of silve. to gold, because the
market value of silver was in q state of
chronic fluctuation.
The bill having been laid aside end
the case of the Montana senatorship
laid before the senate. q motion to lay
that aside informally and proceed to con-
sideration OF ths bill to increase the
nstionsl bank circulation, was made by
and agreed to. The bill was
taken up, the question being on the
amendment offered by Oockreil for the
redemption Of such two per cent bonds
rs may be offered, and for their pay
ment in a new issue of treasury notes.
Stewart took the floor and set out to
antagonize some positions in Voorhees,
speech.
After brief debate, the bill and
amendment went over without sction.
A resolution was offered by Peffer
(Which went over till tomorrow) calling
on the secretary of the treasury for in
formation as to the report that national
banks in Boston, New York and Phila-
deiphia were being conducted in viola
tion of the law; whether they were pay.
ing deposisors checks prom pity in lawful
money, and whether they were demand
ing rates OF interest higher than those
provided by law for loans of money or
discounting notes.
Adjourned,