The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-31


ploclamtion OF war against the silver issue
OF the country; and he seeks now II do
not speak OF his motives but Of the re-
sults) 70 make those Of us who do not
beieVe la single gold standard accessory
TO the destruction of silver and to the per-
petuauon OF the system 10 which he Is de-
voted. Is it possible that intelligent men
oeheNe that the President has not now the
power TO secure all the gold that is neces-
sary Tor the treasury OF the United States,
even on his own theory in regard 10 the
finances? The Secretary Of the Treasury
openly avows. and the President repeats,
that they need no more money to meet
the current expenditures Of the governs
ment. There IS. to use the Presidents own
language. comfortable balance OF $685..
WOVV IN the treasury. They openly avow
that they want gold to maintain the sim
gle gold standard, and for no other pur-
pose.
Mr.. sherman, a member OF the finance
committee. said that the contest,
whether this country should be on a
standard of silver or on standard of
gold money, could be longer avoided.
That was the question which loomed i'm
the distance. He had hoped that for the
present 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 II was necessary TO
under present circumstances; and yet SEN
ators We're told that they should give no
relief whatever. except with the adop-
ton 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 business
men of the world and among the labor
ing men Of the world II would do so
more than any other measure that could
be devised. IT, therefore. the choice lay
between a gold standard and silver
standard, and II one or the other must
be adopted. he was for that standard
which was the highest and best and which
was the standard Of all the civilized and
Christian nations of Europe. while tho
other standard had been rejected over and
over again.
But" Mr.. Sherman continued, II have
always believed and / still believe that
both silver and gold ought to be main
tained as the circulation Of this country
gold as the highest measure of value in
all our commercial relations abroad and
as a basis OF our commercial and bust
ness relations at home; silver to be used
to the largest extent possible, so long as
it does not demonetize gold ! am Of that
belief now; but l am bound to say that
the committee on finance is utterly help
less to deal with this vast question. We
are quite divided upon n. We are not al
lowed to propose a measure TO this Senate
which all can approve OF unless there rs
attached to Il a provision for the free
coinage of silver. We know that that
measure would be rejected; and there
fore il is insisted upon, so as to prevent
any relief being extended to the people
OF the United States in the present condi-
ton of distrss.
THE best thing, therefore for the SEN
ate to do is to discharge the committee on
finance from the further consideration or
this question and to take it up itself ana
give the necessary relief to the country
Mr.. Hiu said there seemed to be a dis
pute as to what this congress was re-
quired to do to meet the public expecta-
tion made in the public mind. There was
an impression that some affirmative leg
islation was desired to meet the present
deficiencies in the revenue OF the govern
ment, and that congress. unmindtui or
it's duties, was refusing to give the nee
essary relief to tide the treasury over the
emergency 1t was for the purpose Of
meeting the alleged deficiencies that va
rious bills had been introduced. Mr.. Sher-
man had said that the revenues should
be increased. and Mr.. Vest had said semi
officially that no such legislation was re-
quired, but that IL was desired that we
should settle the currency question. Mr..
Hill contended that the first duty Of the
Senate was to ascertain what was wanted
by the administration and the treasury
department; whether II wanted temporary
relief or some elaborate legislation involv-
ing a change in the currency and financial
system of the country.
MIR. Vest interrupted Mr.. Hill to state
that the President in his message said
there was not deficiency, but surplus,
but that II was not in gold.
Mr. Hnl replied that there were those
who thought the Presidents message
took rather cheerful view of the condi-
tion of the finances. However, he called
attention to the fact that the estimate
of the Secretary Of the Treasury suggested
a deficiency of 000O.0OO The Senate
should have 1t definitely determined
whether any temporary fiscal legisla-
ton was desired or something more rad
icaI. for the reason that he believed
the country should be put Alright on the
subject, so that the administration might
deal fairly with congress and congress
fairly with the administration.
Mr. Hill submitted a resolution and
asked its immediate consideration di-
recting the Secretary of the Treasury to
inform the Senate whether it was nec-
essary OF desirable that legislation should
be had to authorize the issue OF bonds
treasury notes or other securities to re-
alize moneys for the purpose Of paying
current deficiencies in the revenue, and
If so, the nature and substantial details
of such legislation.
Mr.. Allen, pop, of Nebraska, objected
and under the rule the resolution went
over till tomorrow.
Mr. George, in charge of the bank
ruptcy bill, submitted a resolution, which
was referred to the committee on rules,
providing that from and after Feb. ],
the Senate should meet daily at II o'clock.
In explanation Of this resolution, Mr..
George called attention to some newspaper
paragraphs indicating obstructive tactics
on the part Of the republicans intended to
prevent action on the bankruptcy bill.
This gave rise to a short discussion in
which the republicans denied with more
or less irony the accuracy of the report.
In the midst of the debate, Mr.. Morgan
moved an executive session, and the Sen
ate closed its doors and began the con-
sideration Of the japanese treaty.
The doors were reopened at 4:05 o'clock
and the Senate at once adjourned