The herald., 1893-08-26
HOUSE PROCEEDINGS.

Continuation of the Silver Debate-Mr.
Springer's Speech.
WASHINGTON, Aug. 2o.-Thv first un-
pleasantness over the silver debate in
the house occurred this morning when
Burrows of Michigan asked for an extern
sion of his time to 40 minutes.
Bland Of Missouri objected to this,
but after some debate the speaker ac-
ceded to the request.sd
The speaker appointed committee to
represent the house at the proceedings
of the hundrsdth anniversary of laying
the corner stone Of the capitol.
Bynum of Indiana, Dem., then took
the floor and replied to Pence's speech
of yesterday. Bynum said Pence had
turned his back upon the Democratic
party not for the sake of getting ''pie"
but for the purpose of eating crow. He
quoted q speech made by Pence going
back, as he charged, upon Democratic
principles.
. Pence retorted that when he made
those remarks he was as sober as a
judge.
Bynum rose to question of personal
privilege, and said that Yesterday he
have been construed as meaning that he
had been entertained in manner that
untitled him to make speech. Pence
knew he was sober as any man in Den
yer on the night in question.
Pence disclaimed any insinuation, and
the incident ended
The second day of the FIVE minute de.
bate in the house ON the silver bill began
this morning, and will probably last till
midnight.
Pendleton of Texas and Bowers of
California spoke in favor of free coinage,
Dockery of Missouri and Moon of Michi-
gan for bimetsllism, and Cobb of Ala
bama opposed unconditional repeal.
Burrows of Michigan advocated repeal,
but opposed free coinage. He said the
blame for the present financial distress
was at the door of the Democratic party,
saying the financial distress was the re-
suit of the fears of the manufacturers
regarding tariff legislation. He con-
trasted the condition of the country as
shown in President Hsrrison's last
message and in President Cleveland's
message to the extra session of con-
gress.
March of Illinois opposed the Wilson
bill and favored free coinage.
Compton OF Indiana spoke for free and
unconditional repeal.
Money of Mississippi spoke against re-
peal.
Durborrow of Illinois favored repeal.
He was followed by Springer.
MR.. sPRINaER's SPEECH.
Springer began with a review of the
existing financial conditions and set
forth the duties which lay on congress
to apply the remedy. He declared that
there were three leading and controlling
causes of the present conditions: Tariff
legislation since the war, demonetiza-
ton of silver in 1873 and the silver pur.
chases under the authority of the Sher.
man act. The treasury rulings in regard
to silver certificates issued for silver bull
lion purchased made them redeemable
in gold, as this was the only way in
which the government could make good
its pledges to maintain the parity
of gold and silver. The fact that
silver bullion was held as collat-
eral for the redemption of silver
certificates added nothing to their face
value. That value depended on the
pledge of the maintenance OF parity
with gold, and the fact that certificates
we're full legal tender. The demonetiza-
tion of silver In 1873 did not destroy sill
yer as much a. the Sherman act. In 16
years from ito passage silver deprecated