Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-10-28
GRAND RAPIDS MICH SATURDAY MORNING. OCTOBER

sub ttats b the house bill. With the
en-sfst2nsiing that IL would thsn De
tzsss>t - the ofissnal measure. oIsa %
"a sfaendment After sone discussion
81 hls request Il gss conceded. and the
vote sss eecordinssy taken On the sub
stitufe. II sas agreed %. Yeas. 81;
bays. =. the negative votes being gisen
by Aessrs Allen. Bate. Cali. Coke. Troy.
kyls. PETER. Roach and Vance
The Substitute a. agreed % strikes
out tbs whole n the house ball aud Ia
serts In hen ~ il the folloxing. That
30 much II tbs act approved July Ia.
i.0o entitled an act directing the par
ehass % silver bullion and issue of treas
ury notes thereon. and fof ether par
poses. add directs the secretary Of the
treasury % purchase from time % time
silver bullion 10 the aggregate amount
of 3.o0oouu Dances. or 20 much thereof
- nay u offered. in each month
q the market price thereof. not
sxceeiing one dollar Tor three hundred
and sesenty one and tVenty-hv one
issue IN payment for such purchases
treasury notes q the United States. be
aad the same i hereby repealed Aud
Il Is hereby declared 20 tsc the policy of
the unlted States 10 spuIinue the use
of both gold and siivsr as standard
money. and "a coin both gold and silver
into monsy Of equal intrinsic and on
changeable value. such equality 10 be
secured through international agreement
OF by such safeguards OF legislation as
will insass the mainteaance OF parity in
value % coins Of the tro metals. and the
equal power Of every dollar al all times
in the markets and in the payment OF
debts And il is further declared. that
the efforts OF the government should be
steadily directed 10 the establishment Of
such safe system of b. metallism as
viii maintain az all tunes the equal
power OF every dollar coined or issued
BY the United States. In the markets
asd in the payment OF debts.
Perkins Amendment Discussed
Mr. Perkins offered anamendment OF
which he gave notice on October Ia. Ii
proposes 10 open the mints To the coin-
age OF siiyes OF proved American pro-
duction at the parity OF l6 10 |. with a
minilng or seigniorage charge OF ~ per
cent which is to be paid into the treas
yry. No gold pieces of q less denomina-
tion than slO are 10 be coined Silver
dollars may be exchanged at the treas
ury into legal tender notes OF
not less denomination than slO
are 10 be coined A commission
Of i've monetary experts is 10 be ap-
pointed whose duty IL shall be 10 keep
congress aud the executive advised on
al necessary matters relating 10 the
currency. Mr.. Perkins addressed the
senate at some length In explanation
and advocacy OF his amendment
Mr.. Stewart commented sarcastically
on the change which had taken place IN
the vicSs OF senators since last spring.
when the bill 10 repeal the Sherman act
Vas voted down. Among the senators
who had voted against IL then and who
now supported uncondition repeal, he
mentioned the names Of Messrs Voor-
bees. Gordon. Rsmson. Hill. Mills. Tur-
pie and Squire.
Mr.. Allen expressed bis regret to wit
ness the backdown on the part OF the
senators who favored the free coinage OF
silver.
Teller VIII support It.
Mr.. Teller said that he would vote for
the pending amendment. although he
had not favored the exclusive coinage OF
American silver. Sun. IL IL passed. IL
would be some refief % the silver pro
ducing states. and great relief To the
people of the United States. He de
ciared that he was not cast down nor
detected. but be did not disguise the
fact that the people Of his state were
about To 20 through the valley OF the
shadow of death" He knew well il
would turn over 2O.0o0 silver miners out
of work in the fall of the year. The iron
would enter into their souls. Mr.. Teller
spoke with great bitterness on the de-
ators MIR. President" he said. this is
the most terrible moment OF my
Legislative life. To me II brings
more fear Than any other moment
since entered public life. What
60 fear. Mr.. Presidenty fear that We
are entering on financial system from
which there IL absolutely no escape. |
know that some senator's on the other
side will perhaps tell me that when this
ball Is out % the way. they will Introduce
other bills looking % the rehabilitation
of silver Mr. President. have no hope
in that direction. | know as certainly
as stand here that there will be no
favorable legislation for silver until the
American people are heard from at the
ballot box. and heard from in a way that
will compel attention 20 their desires.
Mr. Ncicott rose and addressed the
chair: bat on Mr.. Voorhees, inquiry
shether he would not prefer b speak
tomorrow he assentei. aud then. on Mr.
Voorhees, motion. the senate at $40
took recess tlli II o'clock tomorrow.
Presidential Nominations