The morning times., 1896-01-14

Senator Morgan. Dem, Alabama. delivered
n two hours speech In the Senaic yrstcr
day on the House boad bill and the free
SILVER substitute for 1t reported from tiit
Finance Committee.
when he resumed his seat, the floor
was taken by Mr.. Butter, Pop, North
carolina, WHO Will speak OIL the bill today
a concurrent resolution empowering and
directing the President of the United States
10 receive dcputation from the Cuban
reFolutioEists and 10 extend beliigerent
rights to them was introduced by bIr.
Kyle, Pop, southE Dakota, and referred To
the Committee on Foreign Relations
a rather amusing cullcquy between Mr.
Hill, Dcn., New York, and the two South
Carolina Senators, Mr.. Pritciiard. Rep
and MT Butler, Pop. took place apropos
or n sarcastic remark of Mr. Hill 4 few
days ago, to the effect that alth ough the
TWO North Carolina Senators were elected
at the same time and by The sa Inc combina-
ton. their statements were inconsistent
one or them claimed that the State was In
favof OF high protective duties, while the
other asserted that it WAS in favor of tariff
reform.
Mr. i'll declared that it would he utterly
impossible In the next Presidential election
Tor either of the two great parties to crafty
thcficSle constituency of North Carolina
WAS AGAINST SHERMAN.
Mr.. Morgans speech was directed prin-
cipany against MIR. Sherman's course both
as Senator ana as Secretary of the Treasury
adverse to The recognition of silver on an
equality OF gold i'll the payment OF the
liabilities OF the government. He spoke OF
Mr.. Sherman IN 4 sarcastic vein as tlie
Napoicon OF finance ana pred icted for him n
approaching Waterloo and relegatiOn
to saint Helena. He charged him with
having done all that could he done to drive
silver out Of circulation and to deprive
it of its bdilion value.
The Senator from Ohio. Mr. Morgan said,
was the author OF five measures or finance
tina; had given the people and the country
more trouble in handling S346 COO. 900 OF
billiorsofpubiicde These measures were
sreenbacks than they bad had in paying
twelve billions or appropriations and three
billions of public debt. These measures were
the decentralization of silver in 1873, the
seque5tration OF the gold reserve Ia The
Treasury in 1878, the power given to the
Secretary OF the Treasury in ] $50 tO pre- serve
the parity between the metals, the power To
Sell bonds at private sale and the power TO
enable private persons By contract 10 dis
pense with The legal tender laws in their
trausac ctions.
There never had been more fragrant case
of Tepudiation, with excuse or necessity.
than when The Secretary of the Treasury,
MIR. Sherman, refused to pay silver coin in
redemption of legal teCdcr notes, and
bought geld coin with the same money AID
paid it out to redeem obligations. The
segregation of The reserve fund OF $780,
10000 in gold In the treasury had made
it an easy matter for the dealers in bull
lion and exchange to corner the market
for gold. ard to force the treasury TO
buy 1t in order to keep the reserve at
its maximum. 49, ~
ABOUT THE PARITY.
AS there was no comparison in the con
dition OF silver that is refused coinage at
the mints with gold that has full ard free
coinage, the question of the parity between
them was simply an absurdily W hen one was
destroyed and the other WAS coined.
In reference to the Rothschilds and
Seiigmans as princes of finance. Mr.. Morgan
spoke sneeringiy OF the latter as people
who used to sell cheap clothing down in
Alabama" He expressed his willingness
to have greenbackS funded into gold bonds
if silver certificates were issued to take
the place of the grecn5ackS in the volume
of currency and II the silver in the Treasury
were coined for the redemption of those
certificates.
A bill to provide an American register for
the steamer Miami was, on motion of Mr.
HILL, DEM, New York. taken from the
calendar and passed.
The Senate then at Al p. m, adjourned
until today after short colloquy in which
Mr.. Chandler, Rep. New Hampshire, re-
marked sarcastically that he had thought
at one time OF welcoming Mr. Hill TO a
Republican caucus, but that there was
no hope Of that now.
II am inclined to agree with you in that
statement" Mr.. Hill replied.