The herald., 1895-01-12

(Voorhess) 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, VS. 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 q fnsncief. nor
an adept in figures. to arrive at the con.
clusion that you cannot redeem 81, 49,
150,830 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 II its owner demands gold.
There have been two bond issues OF
$50, 000, 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
payment.
ADDED COMPLICATIONS.
This process can and will 60 on just
as long as the government issues bond 9
and redeems its 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 plicst ions =.
That haa ham tho ahiof fonle NTH al
bills for the reformation OF our currency
system which have been formulated mp
to this time during this session of con-
gress. sincerely believe four-fifths OF
the members of this body conscisn~
tiously believe there will be no psrma-
nent prosperity in this country uutil
the basis of our currency is broadsned.
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.o make shift legislation en-
acted only to be repealed, has fully
demonstrated this. 1t were better to
continue a. we are with the gold stand
ard and all of its necessary and atten-
dant evils than to resort to any mo re-
experiments in that line. We are
threatened that II the present currency
laws remain unchanged the country will
soon be upon q silver basis. Perhaps
this is true. l am somewhat inclined
to believe that it is. This prospect
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
would wish to take. and in doing go 1
would DO serving the best interests OF
the entire country. in my Judgment"
Mr.. Quay, Republican, of Pennsylva.
mia. moved to POSTPONE further consid-
Grafton of the bill and smendme n ts
until February 1st 1t was the duty of
congress to exert all power to prevent
II believe" he said, sit is the highest
Der to prevent the carrying out of this,
shu hi8hops Va tho thtib
act, placed on the statute books by the
lsst session OF this diseredited con.
q ress."
At the conclusion OF Mr.. Quay's re.
marks his motion was defeated-1 to AZ
Mr.. Quay requesting the yea and
nay vote and Mr.. Hill not voting. 10
The discussion was further partici-
psted in by Messrs. Allison and W hite.
At this point Mr.. Morgan, Democrat oil
Alabama, raised the point OF order
against the amendment, holding that il
was general legislation ON general ap.
propristion bill and the chair 40 ruled.
Hr. Hill appealed from the decision of
tine chair, and on this appeal he address
ed the senate, holding that the amend
msnt 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 leland, 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 5 80 p.m., ad-
iournod,