The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1894-02-10
BLAND ON HIS METTLE
=
Strong Talk Made for SilVlr in ths
House Yesterday
1T IS LIKELY TO PASS
A Belief That the Silver seIgnIor-
age Bill WlI Go Through in
Spite OF the Oppoyition-A
Interesting Debate.

WASHINGTON, Feb. o.-Tho entire day
in the house was consumed in the debate
on the Bland silver seicniorage hill. the
speakers being Bland, Stone OF Pennsyl-
| vania, McEeighan, Hartcr ana kilgore.
The debate will be interrupted tomorrow
at O'Clock by special order setting
aside the rest of the day for enlosies upon
the late Representative O'Seiil OF Penn
| sylvania. 1t is expected a vote on the
bill will be reached by Tuesday at the
| furthest, and Bland is confident il will
pass. This opinion is generally shared by
| leaders on both sides, although probably
thero will be some mod iicalions of tho
bill that will make it more acceptable TO
the democrats now opposing il.
Bland explained in a few words that he
never agreed, as stated in some of the
public prints, TO tho striking out of the
second section of this bill, which provides
Tor the coinage of all the bullion in the
treasury. Aside from the question Of
raising revenue he regarded the second
section as more important than the first.
IF we are 10 deal with the bullion in the
treasury" said he, 'lct us deal with II rs
| a whole. We have already repealed the
| purchasing clause of the Sherman net.
NO more bullion will come into the treas
| ury. Why should we not coin what is
there? To coin only the seiguiorase, S55.-
5000, would be tantamount to declaring
that the rest should remain there as
worthless.
"As far as am concerned neter will
consent to stop half way
"What advantage" asked Coombs.
L 81, a.. ...11
from coming this bullion when no one
wants its?
The people want every dollar they can
get" replied Bland. Tho difficulty is
there is not enough money in circula-
| tion."
rs 1t the intention after this bill goes
into effect" inquired Tracey, democrat,
OF New York, ITO redeem the silver GER
tihcates in sold?"
DO you understand the silver ccrtifi-
cntes are redeemable in gold ~ asked
Bland in turn.
do"
"Well," replied Bland, "the secretary
of the treasury never SO held. The secrc-
tary of the treasury maintained that all
that was necessary to keep all classes OF
our currency at par was TO keep green
backs at par. They are gold obligations,
and while silver certificates have not been
redeemed in gold, greenbacks have never
been refused for them. This keeps ali
our currency at par. | am speaking now
from the standpoint of the gold mono
metalist.'
Bland declared il was only necessary TO
keep enough gold in the treasury TO meet
| tho .,rcir, T,tla, O., Ia.
Law he insisted every dollar of treasury
notes outstanding was redeemahle in sl-
yer. "And il were secretary of the treas.
ury. should SO hold.n he added emphat-
i,ally. IL would not Use my discretion in
the interest of the gold gamblers of this
country. This bill, however" he continued,
does not 20 as far as tho Sherman bill.
in this respect. II only provides that hay-
ing been redeemed, in gold or otherwise,
these notes shall not be reissued, but shall
be destroyed and coin shall take their
place. In other words tho holder will no
longer be able to force their redemption
again and again in gold" (Applauscl.
| CIV. Stone of Pennsylvania, at the head
of the minority of the committee OH coin.
age. replied to Bland. He argued with
Bland that if the first section of the bill
we're passed, the second section should
be. "lf We are prepared TO agree TO the
practical embezZlement of the trust fund
in the first section, we should not hesitate
at the irrcgularity contained in the second
section" He contended that there is no
existing seignioragc. That was purely
imaginary as yet. The seiguorage, lie
said. was the profit arising 10 the govern.
ment cut OF the coinage OF bullion. But
the bullion not having been coined, there
is no seignioragc. There might be in time
but there is not now. Stone coutcndcd
that the coinage OF the scigniorage was in
effect watering the treasury notes TO tie
extent 100000. lie referred TO the dis.
turbance in England and Prussia over sill.
vcr, and said: Europe is walking tho
floor. Let lis pursue the Fabian policy
of non-action aud we can make terms !or
the use Of silver
McKeishan, popul!st, OF Nebraska. made
free silver argument. 4 gold basis aud
high tariff, he said, was discriminating
against the West in tho interest OF the
East. "lf had power said he, II would
strip down the tariff that protects the Last
and force it into competition with tho
West. The East forces us into compe,,
ton"
At the conclusion of McKeishnn'.
speech. which consumed an hour and a
half. Harter. democrat, OF Ohio. took the
floor in opposition 10 the bill. There was
he said. little place for sentiment in the
discussion of this bill. but abundant on
poriuniiy for the exercise of common
sense. The United States had bid gouI
bye to the coinage OF silver. That qucs
ton had been settled. aud hc hoped il was
not 10 be reopcned by democratic con.
gress. The question ought 10 be settled
in business manner. There was SAT,
and easy way oft of the dihisU'tf. There
was at present deficiency in the rcyc
nucS and an increase IN tile expenditures
There were three means OF relieving
the treasury, any of which woull
suffice. Tho first was 10 reduce
salaries - per cent. including the mem
bars of congress; the second was dutJ
OH sugar. which would provide S5,OD,U0)
the further increase of the whiskey tax 70
Sl.2O per gallon which would furnish So,