The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-02-10
HANDS SEIGNIORAGE BILL.
800, pEsl4E ON SILVER FAIRLY
rSpER war IN THE HOUSE

"a. At,itude o. silver to = Jscksss.
u,.u,xcroS. Feb 9.-After a little time
" IN .scertainlnR whether there was an
10 Democratic quorum present when the
90 ssIepiorage bill was taken up. which
Da. piston was formally disposed Of by the dis
W., that though one member was recorded
,o,lne who was not present. several other
~hors who were present and voted were
", ,.corded the House to-day went into
.,,m,ttee Of the Whole for the further con
.tIo,stion of the Seigniorage bill. and Nj.
n,.nd concluded his remarks. lie said, by
- ~ rreiace that he was reported in the
..rsr, AZ being willing TO strike out the last
...,ion OF his bill. providing for the coin
.rs a, the bullion in the Treasury purchased
..dar the sherman law and remaining lincoln
"a That statement was untrue, for he con-
.id.red that the most important feature OF the
..,surs The Secretary Of the Treasury was
.Itss opinion that it would take about five
var. to carry out this provision OF the bill
IA. principal object OF his bill he said, was
-, 10 redeem the notes issued under the
sh.,m.n law but 10 coin the silver now re-
lining in the Treasury. The proposed bill
a1pot 20 as far as the Sherman law. nor did
!, tive the Secretary OF the Treasury such
ida discretion. Under the latter the SOcre-
az, was authorized to coin tho bullion
=, bs discretion. but under the form
:, he would be compelled to cion
n univ in such quantities as might be
r,,s.sary to redeem the certificates issued on
a lie could not coin the bullion at his dlscre-
tion. Under tho sherman law the notes could
be redeemei by either silver or gold. and whom
"a redeemed might be reissued II he (Mr.
Bland had oeen seer U. '"e .Ioasur, no
l,,N t,,No - haT yp1I hue
Ieop U,' o. -. hui, ~ h,,o 49, e
The sherman n1'ee s"ou , Nv, n",o ISL
deemed In gold, and relssued over ana over
..,ip Int the certificates should have been
ssIu , :. s,lra- GA ,ban 40 radeamod
should not have been rcissued.
NJ RlanI was frequently interrupted BY n
.. ~, s,r.am q, onestions from the mem.
constant stream oI uues'ohS IIoh 'he mem
bers who surrounded him. and the close OF his
.n.ech was marked BY applause from his sym
rathizers
Mr. C. W. Stone OF Pennsylvania. one OF tho
Republican members Oh .ne oomml'se on
coinage melEne. anu n'asut t ansasTn.Neu
xnat ons'''u'eu eeikn'otaGo' noiuhs 'aS
there could BIO no seigniorage until all the
,.so,', nortion ~ m. slvor in IN. Tr.,snry
NAe o"' q ~ =. '.oi '. ~ - I.
and say that 1t was seigniorage becauselt was
not s.icniorace until II ceased to be bullion.
IT, 49, .s aio,,.tr,o.IIv onno..d 20 tb.t
hi mi WI NJ WI MIonn NJ Stnne iiInstrated his
neM ~ ~ D.anu ~ ~ n, 10Y nj 90 "
PosIIhh q, D' h m t"an you nt iaos IN bis
pumock IN nn1 nnI q, Ia ,b ptSo ey on III. i'
ns portion bulioek but ater ts Tniie e wnea
,Se q va, co,Id M, soarsya,. from the
ltoO0o; 600 ounces OF silver in the treasury
gSWNvoo 9uhgges am Th Js =, .I,r n
ue ,n.t INA tn, ~. radam6tion 81
ihs notes issued upon t. and ~ any p9r ,n OF
s.c.ss.rx annansss n, The Goyapnment or for
nv oibay nnrnoss tSan That to which n was
sst5ati ' ~ -. ~ LII naovaraton -, rSa
esaeateo' u WAS NOT only peTsers,o "a oi 'he
MS Pau was n ~ asEad wbnthar The
t,nst con.titntsd Nv the Sbe9man law was not
hvSt om,nJ W i1 49, hnot was NV
vs. W. &c., ronl;ad that IN. trnst wae MT ha
MI stone Iepheu mat tne ~, trt t was noJ pc
mg iuily skecutedi because ihe .ruSs proV I
VA .me @ S,,iitnn notan issusJ. bnp wEar.as
mSnv Millions HI in notes had been issued only
t.a - ;iinn. 80 ha.n radsamad and tha hal,
me- y, tSa dniIors coined 10 red.em them had
ha.o IL I.in no ,dia IN the Trsssury thrae vsars
Ill Tnone e ,ne nhin, msDiions6 Nv tSa COM
mittse Was to ride the country over the pres
emit deficit. The Democratic party in Con-
tariff bill which created a defcit. and now
thax npnnosed 70 niIfeS from that trnsr fund in
order TO cover I'M the deiIcit. The attempt TO
pesnsciiate The industrieS OF the countTy nv
Issuing m ore currency was like trying to re-
Gna man nan hond X pJ hi apiHpieAr ~
isct ~ blood from which rho man snffaTed
but that ali the blood was in his head; SO il
sonntTy vas snffaSino Inf from IN. fac, ,hat
ali the curTencv was IocE al mn in Nav York
Tha country was NOT 10 he relisyej nv mn m ming
mora currency into tic fnnnciai systsm buf
Nv ralisving the conpastion and oStaininS a
more healthy di.tribution OF that which should
Es rircuiatinp traeiy
Mr. McKeiRhnn Ind. Neb spok. in sunnort
oithe hill He arraipn.d the financial nnIicy
nj pTesidant Slsyeiand and nradictad thst II
HomIi LEAH tha Damncrntic M NV NO disnstar
He pleaded for enuRIity OF cold ami silver Hc
CAV, a Long dissertatinn on noliticaI econo,nv
IN ganarsi Mt cont nina III Iii ~ 20 ~
.ui,rrt of liver Coinn%s ''''s'' " INV
Nj. Harter dem OT one NJ tbe memhars n,
the COMMITTEES who sipnad the minority rs
port smoke in opposition Ia the nsnIin1 hill
Ha Saii that ba had inynsti,a t.J ,ba an1nciai
condition OF avery nation Of which he couid
erI IN. statistics and amonU than ali rich or
Door laTce or small 4 hristian ar nn0an theTe
was none i'm which The trsrsnry was in snch n
condition AS thnt ~ this nation Of IL oon noo
reopie And 81 the a 4uu nationai ha MIS- in This
eOuLtry which were ohIipad to InnLe raTuIns ~
their oneratIons thers ,Sns N m on. in the con-
dillon oftha Ifnitaj states rressuTv TbaSe was
ouy something IIEe S,5 utItI Csy,I in gold in The
Treasury AGAINST n NANNY M s5,Ii III IiH
And Their. Vas ana grn|t roiIu tarnI tiahiiity tn
viii n he had NOT reierred and tint WINS The
Rational bhne notss Tor iha radem ntion al
NhI,h golI had Ia Ia 6eId in the Trensury
Therefore h,fsIt iustiuad in a. VIM, th,f thaSa