New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-23
THE DAY IN THE SENATE.
Mr. DUBOIS AND Mr.. PALMER SPEAK-THE
NATInN Al. L AEK CALCULATION PILL.

MR. DUBOIS AND MR.. PALMER SPEAK THE
NATIONAL r'SK CIRCULATION PILL.
Washington Aug ?2.-Mr. Allen pop, Neb)
gave notice of an ni.ndment which he would oNer
TO the bill reported by Mr. Voorhees, Dem. Ind.
discontinuing the purchase OF silver bullion. III
proposes to add to the repeating clause OF mat
bill provision that hereafter standard silver snail
be coined at the several minis Of the United states
into dollars. halves quarters and dimes at the
present ratio of l6 to !. under the same conditions
as to mintage and other charges enforced In re-
lation to the coinage OF gold and that the Score,
tary OF the Treasury shall, without unnecessary
delay. cause all the silver bullion owned by the
Government to be coined into standard silver dol
lars to be legal tender
After Mr.. voorhees, had spoken. Mr. DUBOIS
Rep. Idaho) spoke in opposition to the repeal
bill What vote of the people. he asked. had In
structed Congress to abandon bimetalism? There
was not a Senator on the floor who had not been
elected on platform which pledged him to BIZ
metallism. No National party had declared at
any convention in favor of monometalfs:n ana
in his judgment. none ever would.
Mr. Palmer dem. I'D argued in support OF
the bill 1t could no; fairly be asserted, ne said
that the President did not favor the use OF both
gold and silver as the standard money OF the
country: nor did 1t follow that. because the Presi-
dent had failed to word In reference 10 d.
metallism In his recent message 10 Congress. he
would disapprove legislation providing for coinage
of both metals that would be of equal exchangeabe
and intrinsic value. The present ratio should be
adhered to, the Sherman law repealed. and the
use of silver coin encouraged by judicous laws.
and then the influence of events upon the relative
value of the two metals might be calmly
watched, with the hope that by the use Of effective
means the country might. at no distant day, reach
the point where both gold and silver could be
coined and used without discrimination between
them
The bill having been laid aside, and the OF
the Montana Senatorship laid before the Senate, n
motion to lay that matter aside informally and TO
proceed to the consideration of the bill to increase
| the National bank circulation was made by Mr..
Mcpherson dem, n. j.. Mr.. Voorhees, gave
notice that If 1t should turn out that the National
| bank bill was to be used to delay action on the
bill to repeal the Sherman act, he should move TO
sidetrack 1t. He thought 1t better that Senators
should be frank with each other Mr.. McPherson's
motion was agreed to: Yeas. 40: nays 10. and
the National Bank Circulation bill was accordingly
taken up-the question being the amendment
offered by Mr.. Cockrel Dem. Mo-, for the re-
demption Of such per cent bonds may be offered
and for their payment in a new issue OF Treasury
notes.
Mr.. Faulkner Dem, W. Va declared himself in
favor Of the BILL but in opposition to the proposed
amendment He could not appreciate the busl-
ness qualities Of the proposition. as IT would
change a bond obligation not due into de-
mand notes on which gold could be Immediately
demanded. He desired to have the bill acted upon
speedily as possible
Mr.. Cockrell Dem, Mo- explained and advo-
Gated his amendment. Instead Of continuing "A
bond bearing interest. his amendment. he said
would give the people twenty-five millions OF
legal tender notes.
Mr.. Hawey Rep., Comm asked Mr. Cockrell
whether there. was to be a surplus revenue Of
$25 100000 this year. He understood 1t to be the
! other way. and that there likely to be a
deficit The proposition simply TO print
an additional OF legal tenders. He asked Mr.
Cockrell If that the idea.
THAT is 1t exactly" Mr.. Cockre replied. ut
is for new issue of s25ooo,OoO OF legal-tender
! notes"
Then" said Mr.. Hawley. ut is n proposition 10
violate the policy OF the Government for the last