The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-02-10
r1Ics

this policy would involve the country
in financial ruin.
Stone contended that the coinage of
the seigniorage was, in effect, a water
ing of the treasury notes to the extent
of $55,00O 600. He referred to the distur-
bance in England and Russia over sill
yer and said: Europe is walking the
floor Let US pursue the Fabian poll
cy' of non-action, and we can make
terms for the use of silver Jap
plause)
McKeeghan PopulisD, of Nebraska,
made free silver argument. A gold
basis and high tariff, he said. was
discriminating against the west in the
interest of the east. IF / had the
power he said, Il would strip down
the tariff that protects the east and
force it into competition with the
west, as the east forces US into COM
petition"
At the close of McKeighan's speech,
which consumed an hour and a half,
Harter OemocraD, of Ohio, took the
floor in opposition to the bill There
was, he said, little place for sentiment
in the discussion of this bill; but abun-
dant opportunity for the exercise of
common sense. The United States had
bid goodbye to the coinage of silver.
That question had been settled: he
hoped it was not reopened by a Dem
ocratic Congress. The question ought
to be settled in a business manner
There was safe and easy way out
of the difficulty There was at the pre-
sent time deficiency in the revenues
and an increase in the expenditures
There were three means of relieving
the treasury, any of which would suf-
fice- The first was to reduce salaries
70 per cent, including the members of
Congress; the second was a duty on
10 L.
further increase of the whisky tax to
Sl20 gallon, which would furnish
$2O,00O,000; an increase in the beer TO
81; and a duty on tea and coffee. A
tax of one-tenth of a cent per cup on
tea and coffee would yield a revenue
of 100000. The third method was
by the negotiation of a short time
loan. In speaking of the coinage of
silver, Harter called attention to the
fact that in twenty-four hours
| the value of silver in the
/ treasury had fallen $4 900, 600.
'The paper today" said Sibley, of
Pennsylvania, interrupting Harter,
announced that silver had touched
the lowest point in history, and the
same paper showed wheat was never
so low. Wheat and silver have MAIN
tanned a parity. The gentleman from
Ohio told the House last summer that
a repeal of the Sherman law would be
followed by a revival of prosperity
and high prices"
And today we see the result of his
prophesy," added Bland. supplement
tary to Sibley's remark.
THE country was saved disastrous
consequences at least" replied Harter,
turning to Bland. 1T would have been
worse if we had taken your advice y
You don't know that" retOrted
Bland, "and we know the result of
your prophecy"
Harter created some amusement by
reference to the manner in which the
democratic party was delineated in the
Ecomic papers as a jackass. He thought
it was perfectly fair, perhaps, for Re
publican papers to portray Democracy
as a jackass; but he did not see why
when a proposition like the Bland bill
was brought into the House. the Demo-
Icrats should flap their ears and bray
to show they were jackasses
Kilgore, of Texas, who made the
concluding argument of the afternoon
lcontended that if the government was
in need of money, it had better coir
the silver seigniorage than borrow
money and pay interest upon a loan
Without completing his speech. Kilgort
yielded to a motion that the committee
lrise.
Geissenhainer, from the committee or
naval affairs. presented a report, thai
lof the committee on the Holman reso
Tuition to investigate the premiums paiC
contractors for war vessels.
AT o'clock, the House adjourned.