The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-17

f intn Idard eoins at rntio Of l TO l. Nore
ssryo is TO be held. except n sufflciency to meet
TIE dos. SoS and liver coined The
tioyernfnent is to Issue two dollars In green
backs te sunpy the place OF baion is to be-
purc6ased monthly. but the purchase IL to be
made so as to keep the mints running At All their ~
currency are to he used. and discrmination
against any special class Of It is proh.pt nf
Finance ee9 GoSmttoe said that he had been ap
penled to by several senators. VINO relaairIe e
more tine net to call up to ofops al banks e to In
crease their circulation to the amount OF par
value OF tho bonds Deposited by them. but ne
msnt directing tho Secretary OF the Treasury
to n r"s TO ent tSsm for
value with accrued interest In United States
i'SM NJ. sherman item. o. stated the objections
which occurred TO his mind against the amend.
ment. The very moment that the iremsSu rS
were not now due and the interest on which
which was no burden to tho Government the
notes would be presented to sae TbHt w"eId
b" an NJ unhusine sslike pro- osition aud would
;Smr;GatSe s, the hss called attention
and forcihle language. to the inct tha ia tne
Treasury notes issued under the act OF lS,oi
tn That that caused tho irst falling OF OF the
siuo'uWW. 100 gold reserve. The PROPOSED
amendment he regarded as a most dangerous
''p AIR. "orHrrii riii"nled tho objections made
by Mr. sherman, whom he srok ,to o. a. han nhe
R +" asked * should the national banss be S, a.
UUo on n their ionis now deposited. while the
Government Itself could not issue greenbacks
to Srbs .p per Mr. cockr
It was not fact that II great portion OF inc
S25,Onnnu9 ot two per cent emf. oonus was no" 'n
Mr. 1 ockrell-rwenty- one millions. or a lit
tSWE r ySiJ,,cbcl-Does the Senator think that
any considerable portion of these bonds would
Mr.. tockrell think that every one OF them
Mr.. Mitchell DO you mean that they would
surrender these bonds deposited TO secure
Mr.. C"ckrell i suppose. that when We have aye
M another 5h on TWO p1r cent
NJ Mitehe-Thet If not in the Ei bill now %S 90,
through wi h the bill have got all these
points in mind. A..
rS o'ns5 pH Be T'rf fer
rich Rep. 4, ~. and Grey Dem: pei they
were all replied to by Mr. Soekre,a who ext st
the objections made to his propagation 81, by ths
friends uf the national banks. Finally the OIL
Mr.. Berry dem. Ark then addressed the
Senate In favor OF the double standard OF gold
s sher ssnr act without ta other sation would
basis. would prevent the future coinage, Of any
silver and forever practically destroy silver as
money He believed, in the double standard
and was net s wilanE to cast mop m,s Sofe
tRRs te f he was in inli accord with al that
the Democrats. party had ever taught.
eat, v and absoiuteiy fearless in the EXP, ession
ciar rec, in favor OF bimetalism, and he tMr.
Berry, was confident that. notwithstanding the
Presidents failure to discuss ometI hii hbnt
repeale I. the sherman law and provided for
the circulation OF both gold and silver i" on SUCH
The Lodge resolution was then taken up.
with the GallnEer. anendme to 1t. to the
effect that 1t Se hanre nf the ss pror
70 March, 1897 and M GaHEer addressed Or ssts
ate the esres possSs
Of the Sherman act, though he did not believe
that that much. abused law was largely re-;
s noP lsy claim Ga 70
cial question. hut from all he had read and
th"t one s might as we'll attempt tocure bpnions
Sspeal Of The Rurs6asr9 clauses s. Of the
ing financial stringency. He believed that
silver and the Sherman act had infinitely less
TO do with busness depression to-day than the
antjcipated onslaught nf the party in power on
the Mckinley tarii bill. His amendment gave
the Democratic party opportunity to escape
until 1897. when the Republican party would
again be In power. the only party in the coun-
try that had shown capacity TO deal with
great economic questions.
In conclusion Mr., Gnliinger said: Let the
bill permitting banks to increase their clrcu-
at IA anActpd W.
ton and amendment be adopted and conf
dence in our finances will he at once restored.
and another era Of prosperity. equal to the
marveous prosperity Of the a AdhmIinIstrat'on
the people Of the United States"
At the close hf Mr.. Gallinger's remarks the
Senate proceeded to executive business. and at
3:15 adjourned until tomorrow