Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1893-08-26

this morning Mr. Allen, populist, Of
Nebraska, offered as an amendment TO
the Voorhees, repeal bill--in the form of
q provision for the coinage of silver at
the present rate Of 16 to 1, under the
same conditions enforced as to the
coinage of gold and directing the coin
age without unnecessary delay Of the
silver bullion now in the treasury.
1t was referred to the finance com
mittee as was also bill introduced
bv Mr.. PETER, of Kansas, for the re-
duction of the salaries of all of the
government officers from $1,000 up
wards by 10 ,ld 20 per cent
Mr. Voorhees,, of Indiana, chairman
of the finance committee, addressed the
senate in advocacy of the bill reported
by him last Friday disseminating the
purchase Of silver bullion.
Mr.. Voorhees, said that it was an evil
hour for bimetallism when the sen
ator from Ohio sherman and his fol-
lowers had succeeded in fastening his
compromise law on the country. The
act was not intended in good faith for
the coinage Of silver, its purpose was
to degrade. diShonor and disgrace the
white metal Mr.. Voorhees, said he
should vote to repeal the Sherman act
as he would remove a dead fly from
a box of sweet ointment, as he would
abate a nuisance and wipe out an OBJ
struction to rational, wholesome legis-
lation.
The question had been asked whether
a vote should be given for its ncOn-
ditiOnal repeal or whether before a
substitute must be agreed upon. Mr..
voorhees, would at once eradicate this
confessed evil from the body Of our
laws. with no other condition than his
right and free agency TO support and
to secure in connection with its repeal,
or afterwards. by an independent
measure, as the success Of its immcdi-
ate repeal, the primary duty Of the
hour, might at the same time dictate
a sound financial system, embracing
the coinage of silver on an equality
with gold.
Mr.. Voorhees, quoted from President
Clcyeland's letter Of acceptance, which
he said was in no wise modified or con
tradicted by the singularly able mes
sage delivered a few days ago. 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. Who dared in the face of the
clear and explicit words which he
read. to charge that their author was
81 .,+ ~, Il hnIinyagp
in the use Of gold and gold alonef He
Voorhees, was ready to stand or fall
by his faith in the truth and honor Of
Grover Cleveland.
John Carlisle was the pier in intel
lect and spotless integrity of any of
the illuStriOuS statesmen who had held
the folio Of finance including Hamil-
ton. and he made no mistake in play
ing him as a bimetallist.
Mr.. voorhees, said there were other
features of the situation demanding
attention which did not result from the
Sherman act The assault which had
been witnessed on The present admins
tration to compel an enormous issue of
government bonds had not gone I'M
needed by the people. The campaign
Of capitalists seeking a new supply Of
interest bearing government bonds did
not cOnfine themselves TO any one
point Of assault while they operated
to break down the gold reserve, and
to that extent impair the public credit.
Mr.. Voorhees, never believed that our
silver had driven gold from the coun-
try. The gold shipments were to be
accounted for as part Of the plan to
sack the treasury, which was to be ac-
onpanied by a concerted outcry from
terTor-striclen business circles and
from the whole national banking sys-
tenn that nothing could restore conf
dence and credit save the issuance of
bonds. He had no desire to assail the
national banks. 1t was a system TO
be arraigned and not the individuals
who constructed it. The Unrestricted,
unreStrained and unbridled power OF
hese banks, whereby the circulation
Of money in the hands Of the people
can be and often has been suddenly
ductuated from a prosperous maximum
to a stunned and distressed minimum,
constituted a standing and frightful
menace against the welfare and the
happiness Of the greatest and most
useful body Of the American people
Mr.. Voorhees, asserted that the banks
We're entering on a final fight for a pro
longed future existence. They intense
ly realized that the present supply Of
government bonds for banking pur-
poses must be very largely increased
within the next FIVE years, or they
would be forced to commence wind
ing mp.
Mr. Voorhees, took his stand against
the existence. The Increase or the per-
petuation Of the national debt for pur-
poses Of national banking, and called
upon the millions who constitute the
great army Of the laborers to take no
tice Of this issue from this time on
an issue that VIII not down at any
mans bidding.
Mr Voorhees, believed a sound fnan-