Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-02-16

Mr.. Peffer's amendment was rejectcd--
Yeas. Is: nays, 4. The affirmative votes
were given by Messrs Allison. Carey.
Davis. Dolph, Frye. Ga1iinger. Hans
brouzh, Kyle Henderson. Mitchell tof
oregon. PETER. Perkins. Stewart, Teller,
and Wilson.
The committee amendment was then
agreed TO.
several amendments were proposed by
Mr.. Blackburn, and were rejected. The
bill was then passed. The vote was-feas.
q; nays, q, and the vice-President voted
aye.
Mr.. Berry, in charge OF the bill, asked
consent for the appointment or COM
mittee of conference on the amendment,
but Mr.. Blackburn objected, making q
remark In an undertone about motion
to reconsider.
The Senate then. at 2I5. on motion os
Mr.. Pugh, chairman of the Judiciary
Committee. proceeded to the considera-
ton OF executive business. The executive
session lasted until 5:55. when the Senate
adjourned until tomorrow.
The Committee on Public Buildings and
Grounds reported favorably on House
bills authorizing the erection OF public
buildings at Newport, KY, and Brockton,
Mass. Calendar.
Mr.. Bland asked unanimous consent
that general debate on the seigniorage
bill be closed at 4 o'clock this afternoon.
tomorrow afternoon. or Saturday. after
noon. Objection being made, he said 1t
was evident II would be impossible to OBJ
tain unanimous consent, and he would
therefore tomorrow morning endeavor
10 fix limitation OF debate by vote Of
the House. The bill was taken up in
Committee OF the Whole, and Mr.. Bland
corrected certain statements made by
Mr.. Walker Republican), Of Massachu-
sets, in his remarks yesterday. he having
read extracts from the Record in
which Mr.. Bland claims to have been mis-
quoted. He briefly restated his PROPOSE
ton on the silver question.
Mr.. Rawlins DemocraD. Of Utah. con-
tinued his speech. which was yesterday
interrupted by adjournment. He said
that gentlemen from the East smiled with
derision at the financial theories of the
South and West, but the latter sections
OF the country could live without the East,
whereas the East, with its great manufac-
turing enterprises and teeming millions,
was dependent upon the West and South.
The miners OF the West could produce
money for the people of that section, while
those OF the East would be dependent
upon them.
Mr.. Latimer Democra). OF South Caro-
lima, supported the bill. He reviewed the
demonetizing legislation OF 1873 ldduced
evidence TO prove it was the result CT a
conspiracy against silver. and recited the
evil consequences that had followed its
enactment. He believed that the Secre-
tary of the Treasury had used the lati-
tude given him TO discriminate against
CilVcr II tho GarratDfty had ttcp1 tho
same ingenuity to interpret the laws gov
erning the seigniorage as he had the
statutes bearing upon the issuance OF
bonds there would have been no necessity
for the Introduction of the pending bill.
THE SITUATION IN INDIA.
Mr.. Hendrix DemocraO, OF New York,
said that the impression prevailing
throughout the world was that the United
States had gone out of the business OF
giving a fictitious value to deprecated
money. The Demon silver, like an evil
genius, was now haunting the English
House of Parliament. The situation in
India had reached an acute stage. The
question OF silver affected the entire
world and was now awaiting settlement
somewhere In some way. The whole world
is now in listening attitude. waiting for
England to do something
Speaking of the pending bill, Mr.. Hen
Dirk said that its new features are not
good and its good features are not new.
Every ounce of silver purchased by this
government had been paid fors In hard,
gold dollars, the best money in the world.
The Secretary had heretofore coined the
seigniorage. He had never come to Con-
gress TO do what he was authorized TO do
by the Sherman act. But he had no
legal or moral right to take an ima.si-
nary portion of the bullion deposited in
the Treasury and designate it as seignIor-
age. The Secretary of the Treasury had
already coined s27,0O0OOo of silver bullion
and had made selgniorage profit OF
100000. which had been coined. Let
him continue to coin the seigniorage from
time to time in reasonable amounts, but
not select an imaginary portion of bull
lion and designate it as seigniorage.
He believed that the Secretary OF the
Treasury could satisfactorily handle the
financial question at this time. He believed
that the people OF all sections could trust
to his wisdom ana discretion, and leave
the matter to his judgment without the
enactment OF mandatory instructions.
IL bill was now passed which required
the Secretary OF the Treasury to issue
Nlldl ith ilphNy ~ nVN''
add to the already great anxiety of the
people. and gold would walk out OF the
Treasury at an unprecedented rate and
create financial troubles which could not
now be estimated.
A SIMPSON STOCKHOLDERS.
Mr.. Simpson referred TO the remarks
made by Mr.. Walker yesterday, In which
he said that the entire financial problem
should be left for the banks TO solve.
He read Mr.. Walkers biography to show
that he was a shoemaker. and said II a
shoemaker could discuss the financial
question, why not farmer? The bankers
desired a currency which would be
means OF money-making for themselves,
while the farmer and the laboring people
needed currency which would be the
most useful to them and attended win
the least expense. He believed In the
issuance OF fiat money, and thought the
government could issue currency based
upon the credit of the government and
,ncra.sa tho circulating medium He
favored the pending bill because 1t would
increase the volume OF money.
Mr.. Simpson ascribed the present hard
times to the legislation made necessary
by the war. At that time the bankers
had come forward and compelled such
legislation es has since given them abso-
lutte control of the governments financial
policy. Year by year the money power
had fortified its position and centralized
wealth until it had to-day bound the gov
eminent. Iand and foot. He said that both
parties had betrayed the people. Those
In the West understood that the Republic
can party favored free coinage, while
those In the South believed that the Demo-
cratic party would advocate free coinage.
But neither party kept the pledges made
in their party platforms. This betrayal
of the people had done more TO build up
the Populist cause than all the calamity
howlers which had ever existed.
Mr.. Simpson refuted the impression
which he said prevailed in the East that the
Populists believed in an irredeemable cur
rency. He pronounced the whole system
of gold redemption as a makeshft. There
had never been any money but fiat money.
He would limit the issue OF fiat money to
the wants and needs OF the people. He
said there should be at least enough
money to supply per capita OF $50.
Mr.. Bingham Republican,. or Pennsyl-
vania, spoke against the bill. which he
said was but another movement to es-
tablish a silver currency. Mr.. Boatner
DemocraO, of Louisiana, favored the
bill. which. he said. simply authorized
the Secretary Of the Treasury to utilize
the assets Of the government to pay Its
obligations.