Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1893-08-15
MUCH TALK (F SILVER.
Senator Vest Makes a Three
Hours Speech.
VOORHEES, HAS A FINANCIAL BILL

other Members DO Likewise-There Wa
Some Very Lively Debating In the House
Yesterday.
WASHINGTON, Aug 15.-The free and un
limited coinage of both gold and silver
without discrimination against either met
al, found a strong and eloquent advocate
in the senate in the person of Mr.. Vest OF
Missouri, who made a three hours speech
on that topic, based on resolution offered
by him last Tuesday. Mr.. Vest was EN-
phatic, as he always IS, and made it very
plain that he would resist to the last ex.
tremity the repeal of the Sherman act I'M
less that repeal was coupled with bimetal-
lism.
MIR. Vests Speech.
Mr.. Vest went on to argue against the
idea that the overproduction of silver in
relation to gold justified the demonetiza
ton of the white metal, and he quoted the
tables of gold and silver production for
many years in support of his argument.
He undertook to say, with the greatest
respect for the president and without the
slightest doubt of his honesty of purpose
that when he failed in that great state pa
per to say a word in respect to bimetallism
he certainly meant that a consideration OF
the question of the free coinage of silver at
any ratio was so impracticable that it did
not need executive notice. As to the as
sertion that silver should be demonetized
because it tluctuated in value. while the
value of gold was stable, he read an ex-
tract from what he called "a remarkable
pamphlet written by Mr.. Monteith Doug
las, business man of London, before the
closing of the Indian mints pleading with
the people of Great Britain in favor of BIZ
metallism as the only safe and sure foun-
datiuu for financial existence and declar-
ing that silver has really tluctuated much
less than gold.
In replying to questions by Mr.. Gray OF
Delaware. Mr.. Vest asserted that any dis
cussion OF the subject would be imperfect
and unsatisfactory which did not admit on
both sides what was known TO every intel
ligent man that if the volume of money
was increased the prices of commodities
went up, and that if the volume of money
was decreased the prices of commodities
went down.
He had seen the day in the viciSsitudes
of his life when $50 OF paper would not buy
loaf of bread and when a IS gold piece
would buy house and lot. 1t was not
necessary Tor him to say when and where
that was because he did not wish to revive
war issues. Laughter
If one half the coin currency of the coun-
try were struck down. the burdens of those
who owed money would be doubled. and
the prices of commodities would be put
down beyond computation.
He Answers Questions
Mr.. Palmer-Would the repeal of the
| Sherman act bring the country to a gold
| standard:
Mr.. Nc~t-l think it would. If the Sher
man act be repealed. not another silver
dollar will hc coined in this country.
I Il, 1T
aid free Coiuagcf
Mr. Ncst-l do not think it does aid free
| coinage.
Mr.. Palmer-Then why not repeal it1
Mr. N,st-l am willing to have it re
pealcd, hut do not want its repeal made
a stalking horse for recommendation.
In reply to question by Mr.. Plat of
| connecticut. Mr. Vest said he did not know
| nat the president would do He only
| .-4.- that the president had sent a mes
/ sage TO congress in which he did not say
one word about bimetallism. and he took
| 1t for granted that If the president had any
| idea OF sus. aiming bimetallism he would
| have said something about II.
| y Till was introduced by Mr.. VOORHEES,
| Of Indiana and was referred to the finance
| committee of which he is chairman, al
| lowing national banks TO issue notes to the
par value Of the bonds deposited or to be
deposited in the treasury, not to exceed.
| however, the paid in capital stock of the
| banks. This bill was accompanied by a
letter from the secretary of the treasury
approving il and stating that its passage
would at once increase the national bank
issue on the bonds already deposited by
Sl9.O0O,OO0
| Some important resolutions were offered
and laid aside for future action-one by
Mr.. Hill of New York restricting legisla-
l
jects, and two by Senators Mitchell OF
Oregon and Gallinger of New Hampshire
that there shall be no change in the tariff
laws during this congress.
| In the House.
The day in the house was devoted tc
speechmaking. The greatest attention was
paid to Mr.. Warner of New York, but ht
seemed scarcely so much at home as ht
would have been had the tariff been the
subject matter of debate.
| Mr.. Patterson of Tennessee was also slow
in securing an audience, but when he die
so it was an enthusiastic and appreciativ,
one.
Mr.. Pendleton of West Virginia main
tanned his position in favor of the Wilson
bill in good manner and answered thu
| many quest ions piled to him with ease an(
courtesy.
Mr.. Bailey of Texas gracefully and quiet
~ pESSCuNcu lut TSftsonS which
him to vote for a coinage bill.
The house adjourned while his colleague
Mr.. Hutchinson, was still holding the foo
on the same side of the perp!eXed question
Owing to the lateness of the hour whel
the senate adjourned. the Republican eau
Gus was post poned, subject to the call o
the chairman. Mr.. Sherman. 1t is reporte,
that the Republicans will get together thi
afternoon.
Representative w. NJ. Springer of Hi
hois saw Secretary Carlisle in reference t
y an alleged dispatch from Deer Park whicl
} imputed to Mr.. Carlisle the statement tina
Speaker Crisp had yielded to the wishes o
the administration and had promised I
lappoint Mr.. Wilson of West Nirgini
chairman OF the committee on ways an
means
Mr.. Carlisle authorized Mr.. Springer I
say he had never made any such statemen
at Deer Park or anywhere else, and furthe
= that it was not true that the president o
any member of the cabinet, so far as b
knew, had communicated with the speake
in any way A. to the makpuD of the COm