The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-31

body. AS to legislation to meet dehcien-
cies, that question is not now lin view OF
the statement OF the Secretary OF the
Treasury one OF any importance. The
Secretary OF the Treasury stated to me
the day before yesterday that he needs
no legislation to meet any deficiencies,
and that no deficiencies exist.
Mr.. 81, RM Ms VIEWS
Mr.. Sherman member OF the Finance
Committee. said that the contest whether
this country should be on a standard OF
silver or on a standard of gold money
could not be longer avoided. That was
the question which loomed in the dis
tance. He had hoped that for the pres
ent session, at least, it would not have
TO be taken up. Every man in the coun-
try who was familiar with the financial
conditions. felt that IL was necessary TO
extend the Government some relief un-
der present circumstances. and yet sem
ators were tod that they should give
no relief whatever. except with the adop-
ton OF q 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 business men of the world; yea,
among the laborlng men of the world IL
would do SC more than any other mea-
sure that could be devised. III, therefore,,
the choice lay between gold standard
and a silver standard, and II one or the
other must be- adopted. he was for that
standard which was the highest anu
best. and which was the standard OF al
the civilized and Christian nations OF
Europe. while the other standard hao
been rejected over and over again
N FAVOR OF BOTH MrTALs.f
"But." Mr.. Sherman continued, Il have
always believed, and | still believe. that
both silver and gold ought TO be main
taned as the circulation OF this country
gold as the highest measure of value IN
all our commercial relations abroad, ana
as a basis of our commercial and busl-
ness relations at home. and silver to be
used 10 the largest extent possible so
long as 1t does not demonetize gold. L
am of that belief now, but | am bound
10 say that the Committee on Finance
is utterly helpless 10 deal with 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 un-
less there Is attached TO ii provision for
the free coinage of silver. We know that
therefore Il Is insisted upon so as TO pre-
vent any relief being extended to the peo-
pie OF the United States in the present
condition OF distress.
The best thing, therefore, for the Senate
TO do Is 10 discharge the Committee on
Finance f'cm the further consideration OF
this question and to take 1t up itself. and
give the necessary relief TO the country
WORD FROM Mr.. HILL.
Mr.. Hill said there seemed to be dis
pute as % what this Congress was re-
ouired to do 10 meet the public expecta-
ton. In the public mind there was an
impression that some affirmative legisia-
ton was desired to meet the present dell-
ciencies in the revenue OF the Govern
ment. and that Congress, unmindful or
its duties. was refusing to give the ne
cessarv relief to tide the Treasury over
the emergency. II was for the purpose
of meeting the alleged Deficiencies that
various bills had been introduced. Mr.
Sherman had said that the revenues
should be increased, and Mr.. vest mad
said officially that no SUCH leSlsla-
ton was required, but that II was de-
sired that we should settle the current
question. a. ,,,.,
of the Senate was TO ascertain what was
wanted by the administration and the
Treasury Department, whether 1t wanted
temporary relief or some elaborate legs-
lation involving 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 not a deficiency but surplus,
but that it was not in gold.
THE COUNTRY SHOULD BE PUT Alright.
Mr.. THll replied that there were those
who thought the Presidents message look
q rather cheerful view Of the condition
OF the finances. However, he called at
tention to the fact that the estimate OF the
Secretary OF the Treasury suggesed de-
ncicncy Of ten million dollars. The SEN
ate should have il definitely determined
whether any temporary finance legislation
was desired, or something more radical
for the reason that he believed the coun-
try should be put Alright on the subject,
50 that the administration might deal
fairly with Congress and Congress fairly
with the administration.
Mr.. Hill submitted a resolution, and
asked It's immediate consideration, direct
ing the Secretary of the Treasury 10 In
form the Senate whether IL was necessary
or desirable that legislation should be had
20 authorize the issue Of bonds, Treasury
notes or other securities to realize moneys
for the purpose of paying current de-
hciencies In the revenue, and if so, the
nature and substantial details Of such
legislation.
Mr.. Allen Pop.. Neb) objected, and.
under the rule. the resolution went over
until tomorrow
Mr. George. in charge Of the bank
ruptcy bill. submitted a resolution, which
was referred 10 the Committee on Rules.
providing that from and after February
1st the Senate should meet daily at IL
O'Clock.
In explanation Of this resolution, Mr..
George called attention to some news
paper paragraphs indicating obstructive
tactics onrhe part OF the Republicans in
tended to prevent action on the bank
ruptcy bill.
This gave rise 10 a short discussion, In
which the Republicans denied, with more
or less Irony, the accuracy OF the report
In the midst OF t1his debate Mr.. Morgan
moved an executive session, and the Sem
ate closed It's doors and began the con-
sheraton Of the japanese treaty.
The doors were reopened at 4:0j, and
the Senate at once adjourned.
LOWEST RATES or DU1Y