The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-02-06
THE DO NOTHING SENATE.
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IHE DU NOlHlNG OENAIE
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the single gold standard, [ wish to
say for one that never. never in q
time of peace, will 1 voteto issue one
bond by this Government for the pur-
pose of securing gold in order that
the country may remain on a single
gold standard.
Mr.. Cullom-I would like to hear
from the Senator whether the Finance
Committee is likely to arrive at an
agreement on any policy which b would
produce more money for the use of
the Treasury.
Mr.. Vest-It would be proper that
the chairman of the committee should
answer that question, but in his alb
sence venture to remark that I don't
hink there is the slightest possibility of
the Finance Committee of the Senate
agreeing upon any bill to be reported
to this body. As to legislation to meet
Deficiencies, that question is not
now, in view of the statement
of the Secretary of the Treasury,
one of any importance. The Secretary
of the Treasury stated to me day be-
fore yesterday that he needs no legis-
lation to meet any deficiency, and that
no Deficiencies exist.
Mr.. Sherman-A member of the Fl
nance Committee said the contest whe-
ther this country should be on stand
ard of silver or on standard of gold
could not be longer avoided. That
was the question which looked in the
distance. He had hoped that for the
present session at least it would not
have to be taken up. Every man in
the country who was familiar with the
financial conditions felt that it was
necessary to extend to the Govern
ment some relief under present cir
cumstances, and yet Senators were told
that they should give no relief what
ever except with the adoption Of a
measure for the free coinage of silver.
He believed that the adoption of the
system of free coinage of silver would
degrade the nation among the financial
people of the world, among the busi-
ness men of the world, and among the
laboring people of the world 1t would
do so more than any other measure
that could be devised. If, therefore,
the choice lay between a gold stand
ard which was the highest and best,
and which was the standard of all the
civilized and Christian nations of Eu-
rope, while the other standard had
been rejected over and over again.
But" Mr.. Sherman continued,
II have always believed and
1 still believe that both silver
and gold ought to be main
tianed as the circulation of this coun-
try-gold as the highest measure of
value in all our commercial relations
abroad and as basis of our CONNER
cial and business relations at home,
and silver to be used to the largest pos
sible extent, so long as it does not
demonetize gold. I am of that belief
now; but, I am bound to say that the
Committee on Finance is utterly help
less to agree upon this vast question.
We are quite divided upon it. We are
not allowed to propose a measure to
this Senate, which all can approve of
unless there is attached to it a provi-
sion for the free coinageof silver. We
know that measure would be rejected :;
and therefore it is not insisted upon,
so as to prevent any relief being ex-
tended to the people OF the United
States in their distress
The best thing, therefore for the
Senate to do is to discharge the Com
mittee on Finance from the further
consideration of this question and to
take it UP itself and give the necessary
relief to the country.
Mr.. Hill said there seemed to be a
dispute as to what this Congress was
required to do to meet the public
expectation. In the public mind
there was an impression that
some affirmative legislation was
desired to meet the present
deficiencies in the revenue of the Gov
ernment and that Congress, unmindful
of its duties, was refusing to give the
necessary relief to tide the Treasury
over the emergency. 1t was for the pur-
pose of meeting the alleged deficien-
cies that various bills had been intro
duced. Mr.. Sherman had said that the
revenues should be increased and Mr..
Vest had said semi-otiiciaily that no
such legislation was required but that
it was desired that we should settle the
currency question. Mr. Hill continu-
ed that the first duty of the Senate
Nes to ascertain what was wanted by
the Administration and the Treasury
Department, whether it wanted tenn
porary relief or some elaborate legisla-
ton involinga change in the currency
and financial system of the country.
Mr.. Vest interrupted Mr.. Hill to
state that the President in his message
said there!was no deficiency, but sur
plus, but that it was not in gold. MIR.
Hill replied that there were those who
thought the Presidents message took
| rather cheerful view OF the condition
! of the condition of the finances. How
ever, he called attention to the fact
that the estimate of the Secretary of
the Treasury suggested deficiency OF
ten million dollars. The Senate should
have it definitely determined whether
any temporary fiscal legirlation was
wanted or something more radical, for
the reason that he believed that the
country should be put Alright on the
subject so that the Administration
mig ight deal fairly with Congress and
Congress fairly with the Administra-