Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-02-15

tehNSE " Tie price u nc
did not dispute the accuracy of the report
of his speech, but the words had been
spoken IN the heat of debate ana did not
represent his views.
There was. he said, an active, universal
demand for silver money, while there was
only limited demand for silver for use in
the arts. Under these circumstances IL
would be strange, ne said, if bullion silver
and coined silver had the same value. lie
urged however that once there was free
and unlimited coinage of silver the demand
for the bullion for coinage purposes would
bring both coins and bullion silver to par.
Then you withdraw what Mr.. Walker
quoted" suggested Mr.. Reed.
Il withdraw nothing. l care nothing
about it,
"You appear to care enough about it,
retorted Mr.. Reed, SarcaStically, Ito make
this explanation"
Mr. Rawlins Utah) was then recognized
to complete his speech. begun yesterday.
He was followed by Mr.. Latimer IS. c..
who supported the bill with free silver ar
gument.
Democratic Opposition.
Mr. Hendricks IN. " opposed the bill in
vigorous speech. 1t was the impression
in the markets of the world. he began, that
the United States had gone out of the BUSH
ness Of attempting to give fictitious value
to deprecated money metal. At the close
Of the extra session it was thought that our
financial system for the first time since
1873 had settled down to a solid basis. The
silver demon which had demoralized our
extra session OF Congress had passed away
like an evil genius and was now lowering
about the houses of parliament.
England was now walking the floor. He
then sketched the events following the de-
monetization of silver in India. That vas
an important meeting, said he, last year
at Simla, when 1t was decided to close the
mints Of India. Spectators began to buy
fhA hull
the mints would be reopened or an irnport
duty be levied on silver. This accounts for
the enormous expectation OF silver to India.
But few days ago the English chancellor
Of the exchequer announced positively that
the India minis would not be reopenad and
that an import duty will not be imposed on
silver. So, he continued, this silver problem
Is awaiting some sort of settlement some
where.
Kicked About Like a Foot Ball.
1t has been. kicked about like a foot ball /;
in Belgium. then in Germany. France. the
United States and India. Now the whole
world has gone cut Of the silvn- business
and is waiting to Sc. what country will / ave
the temeri.y t. make the first move Egg
land.it was admitted at the Brussels confer
ence, must take the frs. step. Our rvs' IA, n
made strong !'y he ~ep.,tl of the Sherrs n
law. was assailrd by This hill. Wha, was
new in 1. was not goo J, ami Nuat was good
was not new.
The first section luts the eminent
IN the business + ,rc5.ting fla; money.
Since 1873. when silver coinage was sus-
pended. SNS.OO0.uW worth OF silver has been
purchased with gold. He proceeded 10 argue
that II the government needed money 1t
should borrow II as corporation or a
municipality would.
do you mean to say" inquired Mr. Rry
an, that the Secretary Of the Treasury wa
pretending when he sold bonds that II VAS
for the purpose OF keeping up :he .eserye.
when,s in fact, 1t was to secure means TO
pay the expenses of the government
Oh replied Mr.. Hendrix. 1--WE all know
that the government needs money and ina :
the proceeds OF the sale Of the bond, will
be used to defray the running expenses OF
the treasury
The Banks Defended.
He went on to defend the New York banks
against the charge brought against them
that they had boarded gold and ,,old obl;ss-
tons in order to compel the Treasury De-
partment to sell bonds. Since October. 1891.
to September. 1898. said he, s1l2, ZOO, 900 was
taken out of the treasury by means of
United States notes and treasury notes
But this gold die not go to New York to be
boarded. 1t all went abroad. During the
same period Sl54. 0O0.O 600 IN gold was EXPORT
ed. I'VE did not get II or hoard IL in New
York: 1t went abroad to pay debts"
II the silver bullion in the treasury were
coined, he continued. and 1t were made re-
deemahle only In itself II was as sure to
drive gold out Of this country as that wa
ter would drive oil or a magnet would nick
up iron filings. That law was a natural
law before Mr. Bland began his free-silyer
crusade.
Series of Questions.
rs not the purpose Of this BILL" asked
Mr. Blair IN. HD, Ito place this country
on a silver basis?"
Il can not believe that is the purpose :"
replied Mr.. Hendrix. Il do not think such
a purpose could animate the democra tic
party"
At this point Mr.. Hendrix was besieeed
with questions from all sides. He crossed
swords with Mr.. Livingston, McCreary.
boatner Cox and others. At last he de-
ciared that there was nothing sadder than
to see a farmer sitting Oh a fence rail with
gesticulating politician trying TO convince
him thnt the low price of wheat was due
to the crime of 1873
when the act of '13 was passed" mn ia
Mr.. Hudson (kan.J. was there any mem
ton in either house Of Congress t!.at it
was an &C, to demonetize silver"
Does this act" replied Mr.. Hendrix, ask
ing him question in turn, mention the
fact that 1t is an act to drive gold out Of the
treasury
Later a question arose as to the position
held by S. Dana Horton under the Harrison
administration and Mr.. Hendrix stated that
he was paid $4,000 a year out Of the secret
service fund of the government to canvass
the European countries and keep the
United States posted upon the sentiment
regarding bimetallism.
Mr.. Cannon GND declared that Mr. Hor-
ton held the same position Manton Marble
had held under the first Cleveland admins
tration.
Mr.. Simpson FavOrs the Bill,
At the conclusion Of Mr.. Hendrix's speech
Mr.. Simpson Kan.) took the floor in advo-
cacy of the bill.
He began with a humorous reference to
the fact that the bankers only seemed to
think themselves competent to discuss the
currency quest lion. Yet Mr. Walker of Mas
sachusetts had been brave enough to enter
the arena ana according to the Congression-