The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-03

thrifty purpose in securing better
market for our annual domestic pro-
duction.
Were it as certain as some extreme
silver advocates represent that no CO.
operative agreement among the lead
ing nations for a larger use of silver
can be obtained, that fact alone would
be cogent and sufficient reason why
the United States should decline to
stultify itself by enlbarking single
handed in an experiment so reckless
and SO distrusted as to be Stunned and
coldly rejected by the statesmen of
every enlightened nation. But this
hopeless representation of the silver
question in Europe rs untrue. The
trend of public opinion in Germany
and Great Britain favors a tolerance
Of the question:
THE CANAL.
In reporting a bill for the construc-
ton of the Nicaragua canal, Mr. Nor
gan asked that December IA next be
fixed for considering the bill, but Mr..
Pettigrew Rep., S. D. objected. De-
bate was then resumed on the confer
ence report on the Indian appropriation
bill. Mr.. Villas and Mr.. George oppos-
ing the report.
At 1 pm the Butler bond bill was
taken up, the Indian conference report
going over.
Mr.. Aldrich offered the following
amendment, as an additional section to
follow that prohibiting the issue of
bonds:
unless in case of emergency it is
necessary, in the opinion of the presi-
dent of the United States and the sec
rotary of the treasury, to issue such
bonds in accordance with the pro-
visions of existing laws, to preserve the
public credit or to meet obligations of
the United States created by such ex-
listing law which cannot otherwise be
met, and all such bonds. when so is
sued, shall first be offered at public
sale"
Before the debate proceeded, Mr..
Hill suggested that a vote on the
Brown resolution, declaring issues of
future bonds illegal. should follow the
vote on
THE BUTLER PRoHIBIToRY BILL.
Mr.. Brown assented, and Mr.. Butler
wanted pm. tomorrow fixed as the
time for the vote on the Brown reso-
luton.
Mr.. Hill insisted, however, that the
whole bond business should be
cleared from the floor today.
Objections were made and no agree
ment was effected.
Mr.. Brown then resumed his speech
of yesterday, discussing bonds and
free silver coinage.
Mr.. Brown was followed by his Utah
colleague, Mr.. Cannon. They had oc-
cupied different positions on the Ding
ley tariff bill, the former having voted
for and the latter against the consid-
Grafton. Mr.. Cannon replied to stric-
lures made on the five Republican sem
ators voting against the Dingley bill.
He resented the charge of insincerity.
He characterized the tariff bill as an
''iniquity and monstrosity of legisla-
tion.'' sectional and unjust. He had
been
ACQUITTED BY HIS CONSCIENCE
and by his constituents. The five Re-
publican senator's whoSsS-oted against
the tariff bill. he said. have all the
consolation they need. each having re-
ceived the endorsement of his people
at home. Mr.. Cannon referred to the
choice of Senators Carter and Mantle
of Montana, Dubois of Idaho, Teller of
Colorado and himself as delegates to
the national convention.
THE sentiment of the great inter
mountain states is for the free coinage
of silver declared Mr.. Cannon, in i'm
passioned tones, land they look to the
leadership of Henry M. Teller rather
thdn TO tnal the DISTINGUISHED SELL
ator from Ohio" (Sher1nan)
Mr.. Cannon added that any man from
that section who drew his inspiration
from Mr.. Sherman and Mr.. Morrill,
would be rejected by his people.
AT this point a report from the House
was received as to the passage of the
river and harbor bill over the presi-
dents veto. Mr.. Vest asked that the
bill and veto be taken up as soon as
the vote on the bond bill was taken.
Mr.. SHERMAN OBJECTED,
unless an agreement on the filled
cheese bill was made. Thereupon Mr..
Vest gave notice that he would move
to take up the river and harbor bill
and veto tomorrow. Before continuing
the bond debate, Mr. Butler sought to
have p. m. today fixed for the vote
on the Bond bill, but Mr.. Teller OBJ
jeoted on the ground that the present
agreement for a vote before adjourn
ment was ample. Mr.. Allison Rep.
Iowa., spoke briefly on the bond bill.
He said it was we'll known that the
bill could not be made law. It was
agreed, he said, that the borrowing
of money for the government was
solely legislative power, except as the
statutes conferred that power on the
executive branch. Under the circum-
stances the adoption of the Brown res
olution would be repeal of the only
law allowing the executive to borrow
money on bonds.
Mr.. Allison reviewed the causes lead
| ing UP to the bond law of 1875, which
was intended to
OVERCOME THE INSTABILITY
and panic following the war He de-
MED the assertion made during the
debate that the bonds under the law
of 1876 were for the sole purpose of
ceiling them, after which the bond
power ceased. On the contrary, he
| said, it was to be a continuous power
to give a stability to values. No part
of the people could be benefited by a
fuotuating. unstable, deprecated
mono-metallic currency. No expert
ment should be made in repeating the
very law which brought stability.
| AS to the seigniorage from silver,
Mr. Allison showed that seigniorage
could not arise until after the silver
was coined, that the present mint ca
/ pacity was restricted to forty millions
/ a year and that, on that amount the
seigniorage would be limited to twelve
or fifteen millions. So. he said,
SENATORS WE'RE PLAYING HORSE
with the great question of the govern
ment's paper money. They were run
ming the hazard of going back in
| thirty days to a paper basis not con-
vertible into coin. In a sharp colloquy
with Mr.. Butler. Mr.. Allison declared
his opposition to fiat money and to
the indirection by which the pending