Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-02-13
SILVER IN THE HOUSE
Debate Upon the Bland Seigniorage Bill
Continues.
Speeches for and Against the Measure
Made by Various Repre-
sentatfves.

The debate on the Bland silver seieniorape
bill was resumed in the House today Some
routine business preceded 1t. The Speaker
laid before the House the Hawaiian message
Of the President transmitted yesterday. At
the request of Mr.. Burrows the correspond
ence accompanying the message was read
The message and correspondence were re-
ferred to the foreign affairs committee.
Mr.. Brown of Indiana attempted to have
the House concur in the unanimous report
of the committee on elections in the What
ley-Cobb contested election case confirming
Mr.. Cobb's title to his seat. but Mr. Pence
Coli objected. and on motion of MIR. Bland
the House then went into committee of the
whole for further consideration of the
seignicrage bill. Mr.. Bland sought to make
an arrangement to close general debate at
1 o'clock tomorrow. but his suggestion met
with chorus of objections from the repub-
lican side.
Mr.. Kilxore on the Bland Bill.
Thereupon Mr.. Kilgore Texas) was recog-
nized to complete his speech begun last
Friday. He began by denying the state
ment made by the opponents Of the bill that
1t would force the Secretary of the Treasury
to redeem the treasury notes of 1890 in
silver. 1t would not in any way interfere,
he said. with the redemption of those notes
T.,
but having been redeemed, silver coin or
certificates would so out to take their place
In the country's currency.
Mr.. Bell CTex.), who followed, contended
that the real question at issue was whether
the United States should exercise it's right
OF sovereignty to issue paper money or issue
interest-bearing bonds upon which the ma
tional banks would issue national bank
notes.
Continuing. he declared that the policy
Hny 1afv
expenses Of the government began in 1880,
under the Harrison administration, when
$6S, 100000 Of the national bank redemption
fund was transferred and made available
for current expenditures.
First Step Toward q Silver Basis.
Mr.. Johnson On. d. said that he favored
the coinage Of seigniorage and the silver
bullion in the treasury. but that was only
the superficial purpose of the Bland bill;
its real purpose was to retire the treasury
notes of 1880 and substitute for them sill
yer certificates. 1t was monometallic bill.
the first step toward placing The United
States on a silver basis
Redemption of Silver Certificates.
In the course of his remarks Mr. john
son became involved in a controversy with
Mr.. Bailey of Texas over the question of
the redemption of silver certificates. The
former declared that under the policy of
the republican party silver certificates had
been maintained at parity interchangeable
with gold. He described how, on yesterday,
he went to the treasury with a $40 silver
certificate and was refused legal tender
money for it. Mr.. Bailey declared there was
no law warrant for the redemption of silver
certificates in anything except silver dol
lars.
when the republican party was in
power" said Mr.. johnson, lit maintained
all classes of coinage currency at par and
interchangeable. That's the way We con-
strued the law"
You construed the law" returned Mr..
Bailey, 1--WE executed it,"
Proceeding. Mr.. Johr son argued that the
result Of this refusal to keep silver and
gold interchangeable at par would be the
boarding of gold and all legal tender
money.
Mr.. Bankhead (Ala) supported the Bland
bill as modified by the amendment Of its
author offered yesterday. He favored the
more liberal use of silver, and he could see
no reason why the legitimate profit of the
government in the purchase of silver should
not be coined into standard money.
Mr.. Bankhead drifted into a general dis
cussion of the silver question.
IJr. benson tAla-), who followed Mr..
Rankhead also discussed the general phases
of tie silver question from the standpoint
Of free silver advocate. He attributed the
universal distress to the decentralization of
silver. He sketched the trepidation pro-
duced in the old world by the disruption of
the trade value in India.