The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-10
BLAND'S COINAGE BATTLE.
The SeigniOTase Fight Resumed in The
House.

roneously as Voting on the Taking
Up of the Bill When He was Not
Present - Other Errors, However,
Showed that a Quorum voted-Har-
ter Makes a Humorous Speech on
the Jackass in Politics.
Washington, Feb. 9.-After the reading
of yesterdays journal in the House this
morning, what threatened to be a knotty
question was uncovered by the statement
of Mr.. Babcock, rep, of Wisconsin, that
he was recorded as voting OH the last roll
call, by which the House decided TO go
into committee of the whole to consider
the Bland seigniorage bill, while he was
really absent. AS this would destroy the
quorum and thus nullify the action OF the
committee, it promised to cause some
trouble.
Owing to the confusion in the House at
the time it was almost impossible to
avoid error, and in addition, the regular
tally clerk was not on duty at the time
the vote was taken. When it was dis
covered, Messrs. Reed and Tracey showed
symptoms of an intention to take ad-
vantage of this mistake and to filibuster
On the other hand, however, it was found
that Mr.. McCleary rep, Of Minnesota !;
Marshall dem, of Virginia. German
dem, of Michigan; and She'll dem, of
South Carolina were present and voted
yea, but were not recorded, so that they
more than counterbalanced the loss, and
the presence of a quorum was mani
Tested.
BLAND's BILL AGAIN TAKEN UP.
After the call of the committees for re-
ports had been concluded, Mr.. Bland at
1921 o'clock moved to take up the con-
sideratlon of his silner seigniorage bill in
committee of the whole, and the motion
was agreed to without serious objection.
Mr. Bland was recognized to conclude
his remarks in support of his measure,
and said, by way Of preface, that he was
reported in the papers as being willing to
strike out the last section of his bill pro-
viding for the coinage of the bullion in
the treasury purchased under the Sher-
man law and remaining uncoined. That
statement was untrue, for he considered
that the most important feature of the
measure. The Secretary of the Treasury
was of the opinion that it would take
about five years 70 carry out this pro-
vision of the bill.
PRESSED WITH QUESTIONS.
Mr.. Bland was surrounded by crowd
of members and was rapidly pressed with
questions. The principal object of his
bill, he said, was not to redeem the notes
issued under the Sherman law, but to
coin the silver now remaining in the
treasury. The proposed bill did not 20 as
far as the Sherman law, nor give the
Secretary of the Treasury such wide
discretion. Under the latter, the
secretary was authorized to coin the bull
lion at hts discretion, but under the
former he would be compelled TO coin it
only in such quantities as might be neces-
sary to redeem the certificates issued on
it. He could not coin the bullion at his
discretion. Under the Sherman law, the
notes could be redeemed by either silver
or gold, and when so redeemed might be
reissued. If he Bland had been Secre-
tary of the Treasury he would use that
discretion in the interest of the people
and not in the interest of the gold bugs.
REDEMPTION OF THE NOTES.
The Sherman notes should not have
been redeemed in gold and reissued over
and over again, but the certificates should
have been redeemed In silver, and when
so redeemed should not have been reis-
sued. He said, in answer to question
from Mr.. Tracey, that if he Tracey as
serted that the Sherman notes were be-
ing redeemed in silver, he was laboring
under misapprehension.
Mr.. Bland was frequently interrupted
by a constant stream of questions from
the members who surrounded him and
the close of his speech was marked by
applause from his sympathizers.
STONE ON THE sETGEIoRAGB.
He was followed By G. w. Stone, of
Pennsylvania, one of the republican mem
bers Of the committee on coinage, weights
and measures, who antagonized the bill.
He went into a legal description of what
constituted seigniorage, holding that
there could be no seigniorage until all the
silver was consumed. You could not, he
said, take out portion of the silver in the
treasury and say that IL was
seigniorage, because it was not
seigniorage until it ceased to
be bullion. This view was diamet-
rically opposed 10 that held by Mr. Bland
You could not segregate from the 40, GOO
900 ounces of silver in the treasury 81, 600 :
900 ounces and call IL seigniorage, and the
balance bullion. This bullion constituted
a collateral trust fund for the redemption
of the notes issued upon it, and If any
portion of this fund should be taken and
used for the necessary expenses of the
government, or for any other purpose
than that to which it was dedicated, il
was not only perversion Of the trust,
but was embezzlement Of trust funds.
THE TRUST IGNORED.
Mr.. benson, DEM, OF ALABAMA, asked
whether the trust constituted by tine
Sherman law was now being executed,
and if not, why notl
Mr.. Stone replied that the trust was
not being fully executed, because the
trust provided that the silver dollars
should be coined only TO redeem the bull
ion notes issued, but whereas many
millions in notes had been issued,
only two millions had been
redeemed, and the balance Of the dollars
coined to redeem them had been lying idle
in the treasury three years.
Mr.. Mcclellan, ind, Of Nebraska, fol-
lowed in support of the bill. He arraigned
the financial policy Of President Cleve-
land, and predicted that it would lead the
Democratic party into disaster. He
pleaded for equality Of gold and silver.
HARTER NAMES REMEDY.
Mr.. Harter. dem, OF Ohio, one Of the
members Of the committee who signed
the minority report, spoke in opposition
10 the pending bill. In lieu of the bill re-
ported by the chairman Of the committee
for tiding the government over its present
financial distress, he suggested several
methods Of raising revenue. II the mem
bers would only eliminate their congress-
ional districts and forget that there was
going 10 be an eleetion, and vote
for revenue tariff, the DIFF
fculty would be readily obViated
To begin with be advocated the prae-