The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1894-02-10
BANDS Argument in Favor OF the
Bill for That Purpose
Finished.
o. w Stone ara Hartor Chief Ora
tors in Opposition TO
the Measure.
Bland sim Confident the Bln WIN Pas,
When a Vote u Reached other
Washington News.

I
stated in some Of the public prints, 20 the
striking out Of tie second section Of this
bill (which provides for the coinage Of all
bullion in tho treasury. Aside from the
question Of raising revenue he regarded
ths second section as more important than
the first
III We nre 20 deal with the bullion in the
treasury." he said. 'lst us deal with u as
whole. We have already repealed the pur-
chasing clause Of the Sherman aot No
more bullion will come into the treasury.
Why should We not coin what is thereY To
coin only iho seigniorsRe (t55.OOOOOO
would be tantamount to declaring that the
rest should remain there as worthless. IL
should be dedicated to monetary uGos."
what advantage" asked Coombs. dem
ocrat. OF New York, would accrue from
the coinage Of this bullion when no one
wants itT'
"The people want every dollar they can
get" replied Bland. The difficulty is
there's not enough money in circulation"
lis ID the intention. after this bill goes
into effect" inquired TraoJ. domos at, OF
New York, ITO redeem silver certihsates in
gold?"
Gates are rsdsems0le in goldI" asked Bland
| IN turn.
II do"
"weIl. l.'' replied Bland. "the secretary Of
/ the treasury has never so held"
| lie maintained that all that was neoes-
sary 10 keep all classes of our currency at
/ par. was to keep green backs at par. 1hey
sre gold obligations and therefore incon-
vertible, aud while silver certificates have
. - s.N NaulfH HUfu
have never been refused for them. This
keeps all our currency at par Il am
speaking now from the standpoint OF a
gold monometallist" He declared 70 IL
only necessary TO keep enough gold IN the
treasury 90 meet foreign exchange.
q. w. Stone. Of Pennsylvania, atthe head
Of the minority Of the CON mmittee on coin
age, replied 10 Bland. He agreed, he said.
with Bland. that II the hrst section Of the
bill we're passed she second section should
be also.
III We are prepared to agree to the prac-
tical embezzlsmeut OF the trust fund in the
first section, We should not hesitate at the
i regularity contained in the second sec
tion." lie contended that there IS no ox-
isting seigniol age; that was pa ely imag gin
aty us yet The seiRpio.Age, he saij, was
profit arising to the government out OF the
coinage OF Oullion, but the bullion net
having been coined there is no ssiCniorage.
There might he IN time. but there is not
now. "One might As we'll take out OF a
tank ten gallons of OIL and say, Il his Is par
aflins and the other OIL OF chop on fifty
! hounds OF a bullock and say, This Is
leather and that Is beef because IN future
processes 50 much parailins or so much
leather could be sepa ated from tue tank OF
OIL or the bullock as 10 claim there - ~
much bullion and much teig-
coined. 10 at.emtt to com this
imaginary seiRniofaRe before she bullion Is
coined vouid b. breakng faith with the
holde Of treasury notes issuel against ali
bullion he declared 10 shOdd DO held
sacred for their redemption.
There were IN the teasury 40 699, s53
ounces OF silver on which had been issued
Slj3. US5. 151 in treasury notes. IL cost the
governments Sl2G lJs go and ns coinage
value 10 SlSl.9l4 J6l. its present ma kei
value but SJl, ll6,Ul2. To coin this alleged
ssiRnlorege would be the virtual embezz g.
ment OF S31.OO0,O00 behind the treasury
notes. Hls apprehension was that this oil
lev wouid invsive the county Ia financial
ruin.
MoKeighan, populist OF Nobrnskl, made
free silver u gument. The gold basis and
high tGr4h, he said was discriminating
against tho west in the interest Of The east.
| Iii l had tue power" said h, u would
strip down the tariff that protsots she cas-
and force 10 into competition with ths west
as the east 70 ces US into competition"
AZ the conclusion Of McKoIghan's speech
which consumed an hour aud = half. HaE-
te', democ at of Ohio. took tha hOor IN
opposition to the bill. lhe . was. ho said,
little place for sentiment IN the discussion
OF this bill but abundant opportunity for
the exercise OF common sense. Ihe United
States had bid goodbye TO the coinage oil
silver. That question has been settled, an j
be hoped 10 WAS not TO bo rooponed by d
democratic congress.
The question ought 60 be settled in .
business manner. there was n safe and
easy way out OF the difficulty.
There Was at present deficiency IN
the revenues and increased expendtu e.. y
| There we're three means OF relieving the
treasury, any one of which would authce.
The hrst was TO Teducs salaries 20 per cent
, including members OF congressi the seco nd
WAS n duty on sugar. which would yroV.ds
So COO 00O. A further Increase OF th'
whisky taK 20 Sl.20 a gallon. which woult
furnish S2O.OOlOOO; IN increase Of the TAI
on beer 81 - nnd duty on tea RHd coffee
A tax OF onu-teuth OF one cent yer cup oI
teaani coffee would yield = revenue OF
saO0Q000. The third method was by thl
making OF n short loan. In speaking OF th'
4, eoinnge OF silver. HGrter called attention
60 the fact that in tWshtr-f four houra thi
value of SILVER in the treasury had falleI
. S4OoO.Oo0
= "a tApsr to-day" said Sibley. OF Penn
/ sylyania. intsfr1pting Hsiter, announced
that silver had touched the lowest point 10
. its history. and the same paper showed tha
wheat was mover 90 low. Wheat aud eilve
have maintained "a parity. The gsntlemau
from Ohio told the house last SUMMED
thnt tie repeal OF tue Sherman Law would
: be followed hy a revival OF p. osperi,Y aRt
lhlgh prices"
! And to-day We see the result of hi
prophesy." added Bland. supplementary &
Sibiey's remark.
The country was saved tie dissstFou
. CONSEQUENCES az least replied Harter
4 tutnina 90 Hand. II would have beel
vor.s 10 We had taken youf advice"
p .'lou don't know that" Tetottsd Hand
| ~aud We know the result of your ophsHy y
a Uartef created some amusement bY ref
D. erenes 60 she manner "a which the demo
+. cratic party Was delincatel in the comi
:. papcrs ~ jacksss. lie thought u va
i psrfecilY fair. refhaps. for the republiosi
rnusrs 90 portray she democracy as q jack
ass but did not see Why. when propusi
A Von ike the bland bnl was brought, int
: ne house the democrats should hsp thsi
1 ears ald bay 90 show that they are jack
4 aascs
! kiieore. OF Texas. who made she eonolud
: ing arcument cf the afternoon. contends
that n the government is 10 need Of none