The times. [volume] (Richmond, Va.) 1890-1903, 1894-02-16
THE SEIGNIORAGE BILL.
tN0rHER YUTILE ATTEMPT BIZ Mr..
BLAND 10 END DEBATE.
The Measure Further Discussed by Messrs
Ixtimer. Hendrix, simpson, and oth-
ers- senate Proceedings.

partcd fayorably House bills authoT~his
The erection Of public buildings at New
port. Ky. and Brockton, Mass. Calendar.
Ml. Gland asked unanimous consent that
General debate on the Scigniorase bin be
closed at 1 O'Clock this afternoon. to-
morrow afternoon. or Saturday afternoon
objection being made. he said 81 was
evident 1t would be impossible 10 obtain
unanimous consent. and ne would to-fnor-
TOW morning endeaVor 20 fix Limitation
oi debate by a vote Of the House. Ihc
'hni VAS taken up IN Committee OF 'nV
Whole aud Mr Bland corrected 'eI'~lh
statements made by Mr.. Walker tHeP''
Nasal Az his remarks YESTERDAY ne nay
ing read extracts from the fecoIn J"
uhich Mr. Bland claims 20 have been mis-
quoted He briefly rested his pfopoSi''oH
on the silver question. II
Nr Hawiins Dem Jtahl contihueu ms
s,,s...b which was yesterday interrupted
h, adfosrnment. lie said that gentlemen
rr,m the East smiled With derisica al
The nnsncial theories OF the south ana
West But the other sections OF the couh-
,rv could live without the East. whereas
The East with its great manufacturing
enterprises and teeming Millions was de-
t..ndent upon the West and South. The
miners Of the West could produce money
Tor the people of that section. while those
Of the East would be dependent upon
them
Nr Latimer Dem. 5. c. supported the
hn lie reviewed the demOnetizing leg
isiat0n OF 1873. adduccd evidence 10 prove
90 vas the result Of a conspiracy against
silver, and recited the evil consequences
that had followed it's enactment. lie
believed that the Secretary of the lreas-
ufv had used the latitude given him TO
discriminate against silver. If the Secre-
tary had used the same ingenuity 10
Interpret the laws governing the sels-
uiorage as he had the statutes bearing
upon the issuance Of bonds there would
have been no necessity Tor the h'rou"c-
ZION OF the pending bill.
MIR. Hendrix Opposes the Bill.
Alr Hendrix Dem, y. NJ said that
the impression prevailing throushout 'hs
world was that the United states han
zone out of the business of giving
rcutlous value 10 deprecated money. Inc
demon silver, like an evil genius. was
now haunting the English House OF fai
lpment. The situation IN lhula hau
reached an acute stage. The questioh oi
silver affected the entire world ana NaS
now awaiting settlement somewhere III
some way. The whole world Is now IN
"a listening attitude waiting for England
10 do something. ~
sreal,ng of the pending hill. Mr.. Hen
driy said that its new features are not
ecod and it's good features are not now
Every ounce os silver purchased by TINS
Government had been paid for In nara
cold dollars. the best money in the world.
The Secretary had heretofore coined
segnlorage. lie had never come to Con-
rrsss 10 DO what he was authorized 70 40
by the Sherman act. But he had no lesal
or moral right TO take an imaginary pOf-
ton Of the bullion deposited in the Treas
nrv aud designate II az seigniordee. ihe
Secretary Of the Treasury had ALREADY
coined 81. olo00O Of silver bullion, and had
made a seigniOrage profit or so'DoVoo'
which had been coined. Let HIM continue
10 coin seieniorage from time to ume IN
reasonable amounts, but not select an
imaginary portion of bullion ana designate
IL a. seigniorlge.
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 and discre-
ton, and leave the matter to his judg-
ment without the enactment of manda-
tory instruction. If bill was now passed
which required the Secretary Of the
Treasury to issue what is practically hat
money. 1t would add TO the already great
anxiety OF the people, and gold would
walk out Of the Treasury at an unpre-
cedented rate and create financial
troubles which could not be estimated.
IL Shoemaker Why Not "A Farmer
Air. simpson referred 10 the remarks
made by Mr. Walker yesterday, In which
De said that the entire financial problem
should be left for the banke 10 solve lie
read Walkers biography TO show that ne
was a shoemaker, and said that II
shoemaker could discuss the financial
aitsst t..f d f.Vm4IF
desired currency which would he
means Of money making for themselves
while the farmer ana the laborlnS people
needed a currency which would be me
most useful 10 them and attended with
the least expense. lie believed in the
issuance OF fiat money, and thou5ht the
Government could issue currency based
upon the credit OF the Government ana
increase the circulation medium re
favored the pending bill because 1t would
Increase the volume of money.
Air simpson ascribed the present hard
lines 10 the legislation made necessary
10y the war. Al that time the bankers
Rad come forward ana compelled such
legislation as has since given them abso-
llfe control 0f the Governments nnan-
oial policy. Year by year the money
mower had fortified IT'S position ana cen
fralizea wealth until 10 had to-day bound
tha Government hand and foot. Tie said
Chat both parties had betrayed the peo-
tfa Those ln the West UNDERSTOOD that
the Republican party favored free coin
age while those in the South believed
that the Democratic party would adNo-
cate free coinage. SAT neither party kept
he pledges made IN their party platforms
Ths betrayal OF the people had done
more 10 build up the Populist cause 'hAn
ai the calamity hOwieis whieh hAd eA-
If.i
Sir Simpson refutel the impression
which he said prevailed ia the east. that
the ponulists believed IN an irredeemaole
currency BE pronounced the whole sys-
f.lI Of gold redemption as makcshi'i'
There had never been any money bnt ha'
money He would limit thc isshe OF iat
money 10 the wants and needs OF tne
people, DE said that there should be
3D.. least enough money a. supply per
rsriia of $50.
3d. Bingham rep. Pa) spoke asainsl
fae lil which. ne said, was but another
movement 20 establish silver currency
Ofh.r - chez PRO md Con
a.r Boainer Dem, La) favored the biii'
which. he said. simply authoriHed the
ciafy of the Treasury 20 ui,lize me
ass 81 the government 10 pay It's oph-
sa IONS
,lg Enloe dem. Tenn) favored the bill,
ana aid that It's opponents we're mol
'tisnoi with The repeal Of the purchas-
ilf clause Of the sherman act, but oc-
tH'a 40 stop the issue OF money IN any
l"'m Tie said the opponents Of this hhi
"'ir determined 10 XII every other lphuS-
VT lh im country except that OF ciipplns
coupon s from bonds. lie believed that as
f'1n ps The money realized by the sai'
~ bonds bad become exhausted the DAnAa