The National tribune., 1893-08-31
CONGRESS.
Abstract of the More ImpOrtan
Proceedings Of Both Houses.
TUESDAY, AUG. %.

In the Senate the Chamber and galleries
were crowded when Senator voorhees, took the
floor at 1925 to address the Senate in advocacy
of the bill reported by him dlscontlnulng the
purchase of silver bullion.
Senator Voorhees, called special attention to
the fact that public credit had not fsltered for
an instant. He charged the present stringency
TO the Vaccinations Of bankers and others of
commercial centeIs; the refusal of the Presi-
dent and Secretary Carlisle to issue bonds had
prompted the money centers TO shout that our
credit was in danger.
None OF our currency was ever deprecated
save once, and that was by The Government IT.
SELF No other power can discredit our cur
rency. When the greenbacks were issued, and
all its creditors required to take it. but the
Government refused to accept it itself, there
was depreciation, but repetition of that would
never occur.
He described the passage of the Sherman bill
rs the darkest hour in the history of silver.
After having passed what he considered crisis,
and having offered coinage to silver, the au-
thors of the Sherman act were Immediately
willing 10 cancel the contract and remit silver
TO the condition of a commodity.
lie Landed silver as au essential part of the
worlds currency. He had not surrendered an
atom of his faith in silver. He would vote to
repeal the Sherman act as he would remove
dead fl from a box OF sweet ointment, or as he
would ab8te nuisance.
The question had been asked whether a vote
should be given for its unconditional repeal
or whether a substitute must be agreed
upon He lNoorhees) would at once eradicate
this confessed evil from the body of our laws
with no other condition than his right and free
agency 10 support and TO secure, in connection
with its repeal, or afterwards by an independ-
ent measure, as the success of its immediate
repea the primary duty Of the hour might
at the time dictate sound financial system,
embracing the coinage of silver on an equality
with gold.
Mr.. VOORHEES, quoted the financial plank of
the Chicago platform, and, saying that the rec
ord did not stop at this poiut, quoted from
Cleveand's letter OF acceptance, which, he
said. was in no wise modified contradicted
by the singularly able message delivered few
days ago. He said in four brief sentences it
contained every sound. wholesome, enduring
principle Of finance ever known in the history
of the most prosperous Nation OF the earth.
He (VOorhees) was willing to stand or fall by
his faith in the truth and honor of Grover
Cleveland and in his well-known fidelity 10
pledges when once made. John q. Carlisle was
the peer in intellect and spotless integrity of
any of the illustrious statesmen who had held
the folio of finance.
Such questions as ratio were matters of de-
tail, but the American people had declared that
silver should not be demOnetized and contrac-
tion take place on the basis of recommendation.
Congress would establish a fair ratio, and
neither oil the metals WDuiG Be dismissed.
No efforts would be spared to effect an in
ternational agreement; but under no circum-
stances would the labOring debt paying nine
tentbs of the American people consent to
double the debts Of debtors by destroying half
of the constitutional money. He would say to
those urging a single gold standard that the
people would tear down and annihiate such
an oppressive and destructive system of finance,
should it ever be established.
There were other features of the situa-
tion demanding consideration which did not
result from the Sherman act. The bitter and
determined assault which had been witnessed
on the part of the Administration to compel
an enormous issue of Government bonds had
not gone unheeded by the American people,
nor had the authors of The assault and those
interested in its success escaped widespread
and intelligent observation.
The unrestricted, unrestrained and unbridled
power of National banks, whereby the circula-
tion OF money in the hands of the people can
be, and oftenA has been, suddenly fuctuated
from prosperous maximum to a stunned and
distressful minimum, constituted a frightful
menace against the safety, welfare and happi-
ness Of the American people
The National hanks were between the Gov
eTnment and the people, and in their vaults |
to-day lay hidden millions and hundreds of /
milions-not less than two-thrds of the whole |
amount dedicated 10 circulation on the books |
Of the TreasuTy-held there by the cowardly, |
HnpatTiotic fear which has always hanted great |
earthly possessions.
The Senator denied the constitutionality of |
the 10 per cent. tax on State bank circulation, |
even though a majority of the Supreme Court |
bad reached such conclusion, and argued for /
the right OF the Stale to provide its people |
with circulating medium through the agency |
OF State banks.
The great value of State bank money was,
and ought TO be, mainly local It would in- /
he hgEn cir lott nd
mediation OF every agricultural community /
on American soil. Meanwhile it should be /
the plain duty of the Federal Government to |
issue lis own un8ssailable notes by retiring |
much Of its present outstanding currency and |
also by the payment of its debts and to issue
them in amounts equal 10 the requirements
of trade as nearly ascertained as possible, |
bearing within the breath of National life, |
hOROrcd in every village and hamlet in the |
American UAiOu. uniform in value from |
Maine 10 Alaska, and their faces as well |
known as the n4g wherever flies that en- |
b3em Of the power and glory OF a united aud |
fsateTnal people.
Alter Senator Voorhees, finished. the debate |
was continued by Mr.. Du Bois idaho, r. in /
opposition 10 the bill. He insisted most earn
esily That no representative of the people had /
moral right by his vote or on his own judg- |
meBt 10 put the country on gold standard |
1t would be betrayal of the people.
Mr.. Palmer llli, D. argued in support of the |
bill. lie expressed the opinion that the great |
majority Of the American people would not |
only approve but would raptprously applaud |
legislation that would establish and maintain |
the biuetalism Of the Chicago Convention.
The bill having been laid aside. the National |
bank circulation bill was accordingly taken up !
the question being on the amendment offered
by Mr.. Cockreil Mo, d. for the redemption of
such two-pcr-cent. bonds as may be offered and
for payment in a new issue of Treasury notes
Mr.. Stewart (Nev.. L. was the first Senator
TO take the loor, and he set out TO autagoniZe
some Of tie positions taken in Mr. Voorhees's
speech.
Mr.. Faulkner Nv. Va. d. declared himself
in favor Of the bill, but in opposition TO the pro-
posed amendment.
Mr.. Cockrcil explained and advocated his
amendment. Instead Of continuing bond
bearing interest. his amendment he said would
give to the people % 600 600 legal tender notes.
Finally the bill aud amendment went over
without action.
After short Executive session the Senate at
BIO adjourned till tomorrow.
Tho Speaker this morning laid before the
House a communication from the Secretary OF
The Treasury ia response 10 a resolution of the
House asking for information relative TO the
purchase and coinage of silver under the Sher-