New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-17

20 asked was that Senators interested In the ds-
cussion might indicate some time wheh snou'o
be ended. There was no subject tia' eo"eu "
everlasting discussion, except perhaps that "hien
affected mans relation to the worio 10 eolne' ""u
even that had better be taken by lal'h Una" Wy
DISPUTE He therefore asked the senate 10 give w
weight OF reason to the question. ne shiu"N MN
nothing IN the line of duty, but he shouio resre.
see the issue settled on the low leVei OF ph9s.a'
endurance when 1t might as well be setueo oh '"e
h,oh level of manly. intelligent agreement.
NJ Teller Hep Col) said that there had pee"
no delay In the debate Ihere hau "o' o.,
sueech made for the sole purpose OF oeiaS' ~
there were many Senator'S who had MOI yet sPoheN,
% 80 t.or rotjca Of speeches There were others
- rad sneeches prepared and stn others VIM
,ors nrenarinc speeches. At any rate. the SENATE
had NOT reached a point where 1t was ld'' u 'a'"
about fixing the time 10 close DEBATE 49,,
Mr.. Voorhees, dscaimed making any aceusa.'V 49,
or oven making use OF the word delay Du' Ne
y, 'aa o., nove some indication OF the purpose OF
senator's on the other side OF the question as "
when debate should be concluded
THE IOWA SENATOR'S SPEECH.
Mr. Allison Rep Iowa) then addressed the seha'e
The first portion Of his speech was ue'o', I.. ~
rev,ev of the history of legislation on the sup,e.
silver coinage. In the course OF "hich ne ei A.
., was NOT in 1873 that the silver dollar was q.
,uona,,ed because BY the law OF 1913 the "a"'
dollar (of 420 grains) authorized. ana ,ha' wv
lar was or the principle OF free coihase' 49,,
although the trade dollar was only iesai en-
Cor &, the owner Of silver bullion could take " "
tho mint and have it coined But II was inc Ia" "
1875 which took away that right and thus s"u0N
down free coinage He agreed with the 'e""'o'
from Virginia ONr. DanieD that silver was Wv
money of the people ,,ot
ne knew that II had been said frequently Una.
from 1892 to 1873 the coinage Of silver collars i
only aggregated $sO0O000. But up TO 1875 u''"e
were a legal tender. might nave sd'"e'e
I'D dimes quarters and halves. ana maue p"S
ment of a million dollars up 10 1913 Ana Vi ms
co;rs there had nearly ninety mi'''o's ~ 80
culation The final outcome of all the les's'auoN 40
to silver was the striking GOWN u wv '>eN .
quality of silver in 1876 49,,
Mr. Vest reminded Mr.. Allison that IN 1891 ne 'N''.
VesO had offered resolution deciaIins !" i"'
of absolute free coinage of silver. anu '""' " ~
been ION Mr. Allisons own motion ana o' ON! 0',N
majority referred TO the FINANCE ,e,..,
though that committee was known 10 De dpso'"'e'S
onnosed IN IT. Mr. Allison admitted the correct
nass of that statement, and added that during 'he
forr wears of Mr. Cleveland's first Adhihs"d
tion when the Democratic party mad the ma
iorItv silver was quietly left 10 sleep. lie H'aue
Tho noin, that for sixteen years CUP 10 1871 ho
no,tical party had gone before the people lavor'ns
~ frea coinage of silver or the destruction OF goid
os the measure OF value Neither the kepuDhcai,
nor Democratic platforms Of 1892 could De 'or'uieu
into declarations for the free coinage OF s'ei ou
the Populist party knew how TO use phraseoios! !"
MIA II knew what 10 say. IL sai' '''"N
q was in favor of free coinage OF silver at inc
ratio of l6 10 /. Now" he continued We are
asked to sustain measures and 20 sustain Poi'V'es
that will bring this country. In my opinion ~ '"e
single standard of silver. This law ot loV ""s Il
,smnorarv law 1t was an experimental law also
in one sense Nobody believed at the Time ''"' II
would stand long upon statute books. GET
,ainlv did not believe so. | do not believe III the
nolicy of piling up bullion in the treasury oi .e
United States and holding 1t there uhcoiheu' "
ueye that that policy is most dangerous poii,
for silver itself 1t is. this minute menace ~ INV
price of silver
LARGER RESERVE NECESSAlN'
.., ,,,. ,nor,en, We have sslsoooOO in green
hacks. sl5OOOaOOO in Treasury notes ana >""VVV'V'
s,,.ar cer,;ac,,cs-oyer SsOOOOO 900 of Government
currencv-to which we have pledged parity WIN
cold and vet We have only SlVlV~Wo Oh KUN '"
round numbers Of reserve. Therefore = '''
though our resources are great these 'esou''e'
are not in the hands of those whose duty " - u
administer the law - H.. ,h
..rnratore there must be a larger reserve for tn'
,ointsnance of the paper money that we nave IL
circulation We need not m!hoo 1at'erS apou' ''','
We have paid bonds to the amount oil SV'V
through the seigniorage Of the Bland laH' anu ]"
haye ESQ 900 600 more But there is no surplus II
the Treasury Therefore. maintain mat II We ai
,o do what the people expect US to do, we must Sc
e, ., thar this reserve in the Treasury IS strength
ened.
.J undertake TO say that We cannot continue UNI
nurchase of silver without endangerihs sei'oN'''
the standard which we have had since 49," "''
.,hou, bringing this great Nation, with all lis op
portunities with all its wealth. WIN All i9 "a
dustries and labor. to silver stanaafo IRON" go,
standard when the disparity between these Naiue'
now is we'll nigh 20 per cent
1.-THE Senator from Virginia Cr. Daniep 'o'u u"
Senate the other day (when debating on the pros
perity Of this country OF the enormous increase
railroad and corporation debts since 1871 Is IL u
no the policv of Congress to allow the payment o
debts contracted at one standard In announcer s''"'
ard-and that deprecated, if 1t Is deprecated
submit that TO do so would be wrong th"is'
the people of this country. having mat queS''"
fairly submitted to them are willing mat we s"o"'
scale down our debts let US DO II; put "hoeNe
wants 70 do it. | am not one OF them. But II W
arc 70 do IT, In view OF the scarcity Of gold twhic
believe is SO scarce that it is not no% ana canno
he the standard Of the worlds money!. lei us 90
by reducing the number % grains IN the eoiu uo
lar II il is necessary in order to secure the uu
relations between the debtor and creditor classes.
THE RESULT OF BULLION PURCHASES
at is Just as plain as the MONDAY sun mat "
20 on purchasing silver and putting II into IN
treasury as bullion II is only q question OF a ie
months Tor a few years ut the rnosO when we vi
fail 10 redeem our obligations IN gold. and then
yvin no at a silver standard. / believe that just a
much AS [ believe that am this moment address
Ing the Senate. have studied that question Tor a
these years. and ave brought to the study my hri
industry and have never changed my mind fTo
1878 TO this moment that we cannot Of ourselves r.
store the parity in value between gold ana SILVER Z
tho ratio OF &c TO l. If could not do II the
when silver was worth 81 % per ounce, how can "
do IL now when it is worth only q or ~ cents
India was then and has been for all of these year
a constant absorber of silver money. but has no
stopped its coinage and has put herself in pos
pot bN n
ion. Last year reported the bill of the Senate
,ro,, Ohio MIR Shermnn) TO repeal the law OF lS9
IN take effect on the lst Of January 1894
81 favored that delay then because believed q
nov believe, that when IA great Industry has bee
buut I'D on the faith OF our legislation 1t shou