The herald., 1895-01-12

(Voorhees) said during ths debate that
financial legislation would not stop with
the repeal, but that the repeal would be
supplemented by legislation in behalf Of
silver. Other distinguished advocates
OF repeal stated tho same thing. Well.
Mr.. President, Wa have been waiting 10
months for this proposed Legislation, but
nothing has been offered. The longer
we wait the worse the country gets. II
does not. take much of a.Enaneier.- nor
an adept in figures. to arrive at the con-
clusion that you cannot redeem 81, 49,
150,S with 500. 100000. OF course l
do not admit, in fact insist the govern
ment is under no obligation to redeem
this volume Of paper money with gold.
but the administration has insisted and
still insists that, no matter what sort OF
note or what is written on it. it must be
paid in gold If its owner demands gold.
There have been two bond issues OF
$50 600, 900 each. Gold has been with
drawn from the banks to buy these
bonds. As SOON as the gold reached the
treasury it commenced to dwindle
away, being exchanged for these various
paper notes which were presented for
pay
ADDED COMPLICATIONS.
This process can and will 60 on just
as long as the government issues bonds
and redeems it's paper with gold. The
only result is to burden the people with
an increasing interest bearing debt.
Any scheme which proposes to enlarge
the currency without broadening tn Q
basis of money Of ultimate redemption.
will certainly add to our com plicstions Z.
That has been the chief fault with all
bills for the reformation OF our currency
system which have been formulated up
to this time during this session of con.
gress. sincerely believe four-fifths OF
the members of this body conscien~
tiously believe there will be no psrms-
nent prosperity in this country uutil
the basis of our currency ia brosdsned.
believe they will be glad to witness
the retutn to the free and unlimited
coinage OF silver as we'll as gold. A
great many senators on this foor-I
think majority-are fully convinced
there can be no substantial relief with =
out unlimited coinage Of silver, and it
is my impression no financial bill will
pass the senate at any rate which doe 8
not fully recognize silver.
NO TERRoRs FOR sILvEH ADVOCATES.
"The folly,of make shift Liquidation en-
acted only to be repealed, has fully
demonstrated this. 1t were better to
continue IS we are with the gold stand
ard and all of its necessary and atten-
dant evils than to resort to any more
experiments in that line. We are
threatened that II the present currency
laws remain unchanged the country will
kA nS- kaasn De-
this is true. am somewhat inclined
however. has no terrors for the silver
advocates. They are contending for
both gold and silver and to choose be-
tween the two would greatly prefer sill
YER. This. at any rate, 10 the position l
would be serving the best interests OF
Mr.. Quay, Republican, of Pennsylva.
Grafton OF the bill and amendme q ts
until February 1st. 1t was the duty of
congress to exert all power to prevent
the collection OF the income tax.
II believe" he said, "it is the highest
privilege Of the minority Of this chs m
Der to prevent the carrying out OF this,
the highest crime of the criminal tariff
act. placed on the statute books by the
last session OF this diseredited CON.
gress."
At the conclusion OF Mr.. Quay's re.
marks his motion was defeated--1 to AZ
MIR. Quay requesting the yea and
nay vote and Mr.. Hill not voting. @
The discussion was further psrtici-
psted in by Msssrs. Allison and White.
At this point Mr.. Morgan, Democrat oil
| Alabama, raised the point of order
against the amendment, holding that il
was general legislation ON q general ap.
preparation bill and the chair 80 ruled.
Hr. Hill appealed from the decision OF
tine chair. and on this appeal he address
ed the senate. holding that the amend
ment was proper aud that he wanted to
take the judgment of the full senate on
the matter tomorrow. Before Mr.. Hill
spoke on the appeal. Mr.. MCPHERSON
DEM, of New Jersey, introduced q bill
on the currency question, which Mr.
Aldrich, Rep. OF Rhode Island, asked
to have read in full. Object.
ions were made. and Mr.. MCPHERSON
withdrew the bill. Later leave was
given to print the bill in the Record and
also the bill presented by MIR. Vest to-
day on the same question,
| The senate then, at 5 10 went into
executive session and, at 80 p.m., ad-
journed.