The times. [volume] (Richmond, Va.) 1890-1903, 1894-02-10
BLAND BILL UNDER WAY
mr. srrysR sEIGNIoRzGE MEAS.
URr DISCUSSED IN fHE HOUSE.
Mr.. Bland Advocates II and MI. Harier' q
ohio, Opposes IL in a witty speech
Other speakers.

House to-day, Wn"N '"'No'N"
,oottv question was uncovered by the
s,siemcnt OF Mr. Babcock Rep, Nis)
,bat he was recorded as voting on the
Last roll call. by which the House decided
20 20 into Commi,te Of the Whole TO con-
slier the Bland selgnicrage bill. while
he was really absent. AS this would
destroy the quorum and thus nGllify the
action OF the committee, ii promised TO
cause some trouble.
owing 10 the confusion In the House
~ Tho tlmc n vas almost Impossible
10 avoid error. and, in aoditioh, "ne
,.rt,tar tally clerk was not on dut3 at
fhe time the vote was taken.
when this error was discovered Messfs.
f,.c5 and Tracey showed symptoms OF
sn Intention 10 take advantage OF lmS
mistake and TO nhbuster on the otner
hand. however Il was found that Nc
Cleary ukep.. Mimi, Marshall u)en
Val. German Dem. Miss), ana Sha'l
Dem. :. 60 were present ana No'eo' pue
v~ere not recorded so that they more ihan
connterbalanced the loss. and the
presence OF a quorum was manifested.
The silver seigniorsge Bill.
After the call of committees for reports
had becn concluded Mr.. Bland. at l2I'
O'Clock. moved 10 take up the considera-
,ion OF his silver scigniorage bill In Com
mittec Of the Whole. aud the motion was
agreed to without serious objection
Mr. BLAND was recognized 10 conclude
his remarks I'm support Of his measure
and said By way OF preface. mat he
was reported in the paper as being VIII
ing TO strike out the last section or his
bill. providing for the coinage or the
bullion i'm the Treasury purchased under
the Sherman law and remaining lincoln
ed.
That statement was untrue, for he con-
sidered that the most important feature
OF the measure The Secretary OF the
Treasury was Of the opinion that 1t
would take about five years TO carry
out this provision of the bill.
Mr. Bland was surroundd by crowd
Of members. and was rapidly piled with
questions. The principal object Of his
bill ne said. was not 10 redeem the
notes issued under the Sherman law. but
90 coin the silver now remaining in the
Treasury. The proposed bill did not go
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 bullion at his
discretion. but under the former he
would be compelled TO coin II only In
such quantities as might be necessary
10 redeem the certificates issued on it.
He could not coin the bullion at his dis
cretion. Under the Sherman law the
notes could be redeemed by either silver
Or gold. and when so redeemed might be
roissued If he BLAND had been Secre-
tary Of the Treasury he would use that
discretion I'm the interest OF the people
and not in the interest of the gold bugs
The sherman notes should notl 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
reissued. lie said In answer TO a ques-
ton from MIR. Tracey that if he (Tracey)
asserted that the Sherman notes were
being redeemed in silver. he was labor
Ing under misapprehension. Mr.. Bland
was frequently interrupted by con-
stant stream of questions from the mem
bers who surrounded him. and the close
OF his speech was marked with applause
from his sympathizers.
Mr.. Stone Opposes the Measure.
lie was followed by c. w Stone Pa).
one OF the Republican members of the
Committee on Coinage, Weights and
Measures. who opposed the bill He
went into a legal description Of what
constituted seigniorage, holding that
there could be no seigniorage until all the
silver was coined.
You could not, he said, take out a por-
ton OF the silver in the Treasury, and
say that IL was seigniorage. because 1t
was not seigniorage until il ceased to
De bullion. This view was Numerically
opposed TO that held by Mr.. Bland. You
could not segregate from the 10000. 900
ounces OF silver i'm the Treasury s., 900, 900
ounces and call it seigniorage and the
balance bullion. This bullion constituted
q collateral trust fund for the redemp-
ton Of the notes issued upon it, and. If
any portion Of this fund should be taken
ana used for the necessary expenses OF
the Government or for any other pur-
pose than that TO which II was dedicated,
10 was not only perversion OF the trust,
but was embezzlement Of trust funds.
Mr.. benson Dem.. Ala.) asked whether
the trust constituted by the Sherman law
was now being executed, and If not, why
not?
Mr.. Stone replied that the trust was
rot being fully executed because the
trust provided that the silver dollars
should be coined only TO redeem the bull
lion notes issued. but whereas many mil
lions in notes had been issued. only two
millions had been redeemed. and tho bal
auce OF the dollars coined TO redeem them
had been lying idle In the Treasury three
years.
Mr. McKeIghan Und.. Neb) in support
of the bill, arraigned the financial policy
Of President Cleveland and predicted that
81 would lead the Democratic party into
disaster. lie pleaded for equality of gold
and silver.
Mr. Harter's Views on the Subject.
Mr. Harter Dem. o., one of the mem
hers Of the committee who signed the
minority report. spoke in opposition to
The pending bfl
In lieu Of the bill reported by the chair
nan Of the committee for tidng the
government over it's present financial dis
ness he suggested several methods of
ialsuE revenue II members would only
.lminaie their congressional districts and
loige' that there was going 10 be an
'leciion. and vote for "A revenue tariff,
ne difficulty would be largely obviated.
TO begin with. he advocated the practice
=" more rigid economy, and also sug-
Fesied that the salaries Of all government
"heefs, including members Of Congress,
receiving over $500 per annum, be low
eicl = per cent.
Mr Walker .Rep.. Mass) said that a
Congressman djd not get half enough
now. They did three times as much work.
IN comparison with their salaries. as any
0,hrr class OF men. daughter and APP
plause)
MF Iarer. continuing. said that II the
''ni"cfaiic party had had the courage
20 impose a tax OF one cent per pound on
s'saf there would have been large
sNNual revenue from that source. He also
'.Noied q higher tax cn whisky, ana m
esu oi increasing the tax on spirit ten
-"'' per gallon. he thought II should