The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-14
WORDS NASILVER STREAM
The House DeVOteS Another Day TO the
SeiSniOTage Bill.


Have the Debate Ordered Closed
This Afternoon-Bankh and Gull
berson Come Out Flat Footed for
Free CoinaRe-Denson Says the Rich
Never Feel Hard Times.
Washington, Feb. 3-Immediately af.
ter the Journal had been read and ap-
proved in the House to-day the Hawaiian
correspondence, sent to the House yester-
day afternoon and which arrived during
the delivery of the eulogies upon the late
Senator Stanford, was read, at the sugges-
tion of Mr., Burrows, rep, of Michigan,
and referred to the committee on foreign
affairs.
Mr.. Hit, rep, of Illinois. asked if the
clerk had not omitted to read the letter
from President Dole to Minister Willis,
which was referred to in the correspond
ence. The clerk stated that he had read
all the papers which had been submitted.
An effort was made TO take up the con-
tested election case of Whatley against
Cobb, from the Fifth Alabama district,
but Mr. Taylor, dem, of Indiana, who
had the matter in charge, would not
press the question Of privilege.
BANDS BILL TAKEN UP.
The seigniorage bill was taken up and
Mr.. Bland asked unanimous consent that
the general debate should close to-mor-
row afternoon at l O'Clock; but general
objection was made on the republican
side, and there was demand for the
regular order. Accordingly the seign-
forage bill was taken under considera-
tion and Mr.. Kilgore resumed the re-
marks which he had begun last Friday.
He favored the bill and said that its eff
feet would be to remove the pressure
which now prevails upon the gold reserve
and place portion of it upon silver,
where it properly belonged. This would
better aid the government in maintaining
the parity between the two metals, not
withstanding the wide variance in their
value as commercial commodities.
BELL ADVOCATES TIE BILL.
MIR. Bell, dem, of Texas, spoke in favor
of the bill. He compared the financial
policy of the present administration with
that which preceded it, and held that the
remarkable extravaganza which pre-
vailed prior to President Cleveland's s
Inauguration, was responsible for the de-
preston which followed, and now rem
dered necessary the issuance of bonds or
money with which to provide fluids for
the payment of current expenses. He
thought it better TO issue money than to
sell bonds, which would pass into the
hands of national banks and become an
additional drain upon the gold reserve.
He thought the issuance of paper money
In the shape of greenbacks preferable to
silver certificates.
JOHNSON OPPOSES THE BILL.
Mr.. Johnson, rep, of North Dakota, op-
posed the bill He favored the coming of
the seigniorage and all the bullion in the
treasury, but he regarded the pending
measure as deceptive, misleading and de-
structiye in its effects. Its real purpose
and result would be to withdraw treas
ury notes and substitute for them silver
certificates. 1t would not only destroy
the parity between gold and silver. but
would destroy the parity between the diff
fereht kinds of paper money now in cir
culation.
BANKHEAD WANTS FREE COINAGE.
Mr.. Bankhead, dem, Of Alabama, spoke
In favor of the bill. He did not believe it
possible that the Secretary of the Treas
ury could accumulate and maintain a suf-
ficient volume of gold with which to re-
deem the currency, and he thought that
silver should also be made available for
purposes of redemption. The price of
commodities and silver, he said, had gone
hand in hand for twenty years. An ounce
of silver to-day would purchase just as
many pounds of wheat or corn as II
would when the market price was
Sl.29 per ounce. But an ounce of gold
would now buy double the amount of the
necessaries of life that it did twenty
years ago. The fact remained that either
gold had advanced or silver had been re-
duced in value. If, under the conditions
that now exist, it became necessary for
the United States to have single stand
ard he would prefer silver TO gold He
hoped that a free coinage bill would be
introduced and passed. He considered
sheer nonsense the assertion that
foreign bullion would deluge this country
in the event of free coinage being estab-
lished. He did not believe that there was
any considerable amount of surplus bull
lion, but even if it existed, let it come and
be coined.
NO HARD TIMES FOR THE RICH.
Mr.. benson, dem, of Alabama. favored
the bill He said that financial depres-
sion affected only the laboring man and
industrial classes. The rich were exempt
from the evil effects of hard times. The
repeal of the Sherman act had brought
no relief, but the condition of the poor
had steadily grown worse.
Mr. Bland called attention to the fact
that all of the speakers had asked per-
mission to continue their remarks in the
record, and he hoped that no further re-
quests would be made.
MIR Hatch, who was in the chair, in
formed him that the list of speakers at
present embraced more than forty names.
Mr.. Bland stated that he would to-day
secure an agreement by which the gen
eral debate would close at o'clock TO-
morrow afternoon.
CULBERsoN A SILVER CHAMPION.
Mr.. Culberson, dem, of Texas, favored
the bill. He favored the free and unlim-
tied coinage of silver, and never expected
to see the time when he would not vote
for any proposition calculated 10 increase
the coinage Of silver. He thought that
the Sherman act should be carried into
this act to the extent Of saying that
silver certificates shall be redeemed
as now provided for. He be-
lieved that unless certain changes
were made in the pending bill,
the Secretary Of the Treasury would find
1t beyond his power to redeem any Sher-
man notes until after the coinage Of the
seigniorage had been completed. Mr..
Bland stated that he had prepared an
amendment which would obviate the OBJ
lection made by Mr.. CulbersOn.
Al the conclusion of Mr.. Culberson's re.
marks Mr.. Bland asked unanimous con.
sent that the general debate shall close al
3 o'clock tomorrow afternoon, but obJec.
tion was made.
Mr.. Warner, dem, Of New York, op-
posed the bill.