The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-04-10
SILVER TALK In THE SENATE.
TIE PROPOSED COINAGE OF MEXICAN
DOLLARS IN Our MINIS.


Senator woicot, Advocates the Propo.itou
sud Crttiei.e. eve Ssientrrnne But Veto
| senator Shermaa OF Ohio Announces
that me VIII Vote Tor tie Resoiu'tor.
wAsu1NGToS. April o.-Mr. wolcott tTen,
Col called IN in the Senate to-day his resolu.
tion requesting the President to enter into
negotiations with Mexico looking TO the coin
age by the United States al its mints OF stand
ard Mexican dollars. with n view to encour-
aging and extending commercial relations
with Chinese and other Asintc countries" and
addressed the Senate in It's advocacy
The resolution did not. ho said touch or
affect in tho slightest degree the general
question Of bimetallism. IL was simply n
suggestion to n fri ndly sister republic that
the idle minis In the United states might be
utilized on fair terms for the coinage OF tho
only dollar that had secured the confidence OF
the Orient ms n medium Of commercial eN-
change. to the advantage and profit Of the
three nations concerned. IL the SeiRniUragc
bill had become law the resolution
could not have been introduced. be-
cause the now idle minis Of tho West
would have been busy. but the veto
OF the SeiSnioraRe bill left action free. While
that bill was utterly unmror;ant. the lessons
Of its veto were many. The bil was unim por-
tant because all thit il could accomplish In
| the interest Of bimetallsm was tho coinage
| OF the Idle bullion now lying in the Treasury.
| A great many people in this country thought
| that 1t would be better to meet the gap caused
| by the impending deficit in that way than by
borrowing money and paying interest on It,
| II. therefore. the measure itself was unim
| portant. its veto left deep impress on the
minds OF the people 1t hal shown clearly tho
positions OF tho different sections Of tho coun-
try. The Senate was told last summer when
ha t.N h.. 90 vra A.
| ing Of the friendship Of the President OF the
| United States for silver IL was told by mem
| hers OF the Finance Committed that as soon
as tho Infamous sherman act wns pushed
! aside the first moment would he utilized for
rcintroduclng . hii for the free and unlimited
| would undoubtedly stand sponsor. The vote
| OF the SeiGniorage bill however. shovel that
the President was the consistent and i'm plaza
| BILE and eager enemy of silver. The President
had been consistent throughout. lie had
Re he 90 the nSnm AMI the
| trust companies, to which tho name OF silver
was a stencil and an offence.
further that the silver question was one OF
location. and not OF rartJ politics In THO
parties had outione each other in adgaiion
and praise Of the President Of the United
the country it was ie!t with sorrow and indie.
| nation. In the New England States and In tho
PresiGent Of tho United stste aH was Infinitely
better than his party. SO universal was tha:
| sentiment that the democracy In those
| sections intended apparently IT, endorse the
Presidents expressed contem ut for the Demo
cratic party at large by voting overwhelmingly y
but In the West and Southwast Irrespective OF
party. there was a prevailing. an unanimou;
states had BETRAYED not only the platform OF
his party. but the interests OF the people. and
tural states Of the Union. which wers borrow
ers and not lenders, with scorn and dertsion.
| aaid thera wa N a hOpa VI for tla IN a
OF silver. and the self-respect Of those who be-
lieved that the day OF prosperity would never
money %eta anu rs sn that ,I sSe should
porary eIpedient And, for one: he should on.
pose every measu,o that stood on any ny
Sa hs sas t .Hs the Ss n 4so d is
or ~ to enc He wan ga. ne "a further
had been introduced in the other House to
issue bonds and TO coin the seiGniorage. which
dent in his veto In essago" such suggestion.
Mr. wolco.t declared; was too raltry to ne
men. He. for one. needed no sop thrown in
Mr.. Sherman itep.. o. said that. he was in
clined to favor the resolution. he thought
+ some be TO o fce for
| He would certainly favor any PROPOSITION that
would tend r We silver larger use TOR com on
| great benoilt to the human race H. in some
| way or other. silvec and gold were put In re-
| lation to each other. and to stand at par at a
| given ratio There could be no opposition
among any portion OF the people to tho use OF
silver. only where II would demonetlZe gold.
Even those who were popularity classed as
| eoldies would he glad to see sill
| YER and gold placed on fixed parity.
| The proposition embraced in the resolution.
| he thought. was very taking one. hut the pro-
posed dola. coin should be restricted TO use
should not to made legal tender. lie thought
silver dollars could he sent to China and other
| eastern countries. the price o; silver would be
| advanced. and there was no one who did not
| desire TO advance the price Of silver. lie
should. therefore. vote for the resolution. with
| an amendment, inserting after tho words.
THAT tho President be requested" the words
If not incomp atble with the pu bile Interests
| He offered that amendment. and It was
agreed TO.
Mir. Mcpherson Dem. y. ]. ! suggested some
| objections to the resolution. He recalled tho
history of the issue Of trade dollars for expor-
tation to China, and predict cd that in this case,
| tho Government 0f the United States. ie did
not see how an msrican merchant could pay
| for his goods in China better with Mexican
| standard dollars than he could with American
standard dollars and he could see nothing but
humiliation in the project. lie offered an
amendment oinsert the words for exporta-
ton"
No action was taken on tho mendment and
the resolution went over till tomorrow.
HTIE DUup EIYE MILES FIFE TIER OU7