Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-02-01

clause OF the sherman act, was III hai
mony with that same view.
He believed that the true remedy for
the present financial troubles was a re-
turn TO bimetallism. The coinage would
then rest upon "A foundation of gold and
silver dollars. equal I'm intrinsic and eX-
changeable value. With that broad basis
Of support the Treasury would
cease 10 be cause of embarrassment
He should vote for the substitute I'm the
hope that the former ratio Of l6 10
could be returned TO With safety.
The ultimate settlement OF the question
had 60 be upon the foundation OF right
ana justice. History and experience had
demonstrated the wisdom Of the fathers
In establishing bimetallism. and there
was abundant reason TO believe that
business activity and commercial pros
perity would follow Its restoration.
Mr.. Pasco had not finished his speech
when the hour of 4 o'clock arrived, ara
then, under the agreement. the Senate
took a recess till 1880 r. NJ.
Night Session.
At the night session Of the House two
private pension bills were ordered ialu
aside with n favorable accommodation.
The session lasted two hours and
half. the major part of the time being con-
sumed i'm hlbustering by the opposition.
The House, at 1890. adjourned.
When the Senate resumed Cat i;5O) me
attendance was quite small but graduaily
the number swelled, until half an hour
afterwards there were twenty-five soma
tors present. The galleries we're pretty
well filled.
Mr.. Pasco resumed his speech where
he had left off at the close OF the after
noon session. and continued II TO the
end, which was reached at 800
PALMER AMENDMENT
Mr. Palmer Democrat, of Illinois,
gave notice Of ar amendment. declaring
IL 10 be the policy of the United States
10 maintain parity between gold and
silver dollars. and maintain the equal
power of both gold and silver dollars in
the markets and in the payment of oebts.
and ii directs the Secretary of the TIea-
sury 10 exercise the discretion vested in
him. so as, in his judgment. 10 better
advance and promite the policy thus de-
clared.
Mr.. Caffery addressed the Senate in OPP
position 10 the free-coinage substitute.
lie admitted that there was a remote
danger Of the silver movement succeeding.
but no thought that il vas .rlught with
more evils than the Imagination could
portray
He hoped that the discussion going on
IN Congress on the hustings. IN the press.
in the lecture-room, and in periodicals.
would dispel the illusion which had cap
tured the judgment Of iarge portion
present standard-the standard OF the civil
liZed world. with silver 4 subsidiary coin,
and with practical equality.
Mr.. Caflery was snterrogdted by Sena-
tors Daniel and Harris as TO the point
made by him that at the time cf the
demonetization OF silver the silver dollar
was more valuable than the gold one.
lie denied their assertion that silver had
been destroyed by that act and said that,
on the contrary, more silver had been
coined in the United States since then
than had been coined IN all the preceding
period from 1872
lie declared that no country in Europe
had ever demOnetized gold: but I'm that
assertion he was cOntradicted by Mr..
Mitchell Republican). of Oregon who
said that Germany had demonetiZed gold,
and by Mr.. Tettel Repubicam, of Colo
rado, who said that Holland had also
done so.
WHITE FOR FREE COINAGE.
Mr.. White supported the free-coinage
substitute. The President Of the United
States. he said proposed 10 retire the
greenbacks. and to trust the financial
affairs Of the government TO the national
banks But whenever the financial affairs
OF the country were placed in the keeping
or national banks. or Of any private
banking system, free government would
cease. and deliberate malefeasance would
rule impeIiously and undisputably. He
asserted that the utter futilitv of main
tanning a gold basis in this country would
give rise to disaster. and would bring
about the further concentration of gold,
ana all the direful consequences of
congested and inadequate currency
DE could not understand how any fol-
lower Of Jefferson or Jackson could stand
the new departure on which the admins-
trA,ion insisted. He thought that n mn
joriiy Of senators were opposed TO Issuing
bonds at all. The general sentiment of
the country was that gold. obtained either
as the result of taxation, or by the
iss lance of bonds. was not needed but
II there was TO be a gold standard. and if
silver was TO be further debased then
Mr. Cleveland was right He should have
10 issue gold bonds. and should
and the crisis would be then reached.
He declared that IL was not the aim
OF silver advocates to force silver on the
governments creditors but they believed
that the debtor had also some rights.
And the time must come, he declared
when the government will take control of
the matter. and will refuse TO subject
Itself 70 the public and private demands
OF those whose impudent dictation il now
tOlerates.
At the close of Mr. Whites speech the
Senate, al 10 =. NJ, took a recess till IL
A. NJ tomorrow.
The Vote To-day.
WASHINGTON, d. c., January IA
prominent anti-silver senator tonight
places at three The majority for the
bill. upon which the Senate will vote
TOMORROW. and intimstes :hat there is
a possibility OF its defeat. Senator Jones,
Of Arkansas. i'm charge of the substitute,
says il will carry by at least five.
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