Congressional Record-Senate. August 17
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·... 418 CONGRESSIONAL RECORD-SENATE. AUGUST 17, Mr. MOSES. As I have said, our fathers thought it unwise repeal of the silver-purchasing clause of the so-called Sherman to take one metal as the st:mdard, because one metal was more law; which was referred to the Committee on Finance. liable to fluctuate in value -than the average of two. They Mr. TELLER presented a memorial of the Denver (Colo.) thought it wiser to take two of the precious metals and establish Chamber of Commerce, remonstrating against the repeal of the• a parity between them, so that when there was a scarcity of one so-ealled Sherman silver law without an adequate substitute there might be a supply of the other. Now, I .think it is unwise therefor; which was referred to the Committee on Finance. for us to repudiate the system whic11 has existed for a thousand He also presented a petition of citizens of Montezuma County, years, and for more than a hundred years in our own country. Colo., praying for the enactment of legislation providing for the Men talk about putting a price upon silver; how canyouput a free and unlimited coinage of silver at a ratio of 16 to 1; which price upon a thing which itself sets prices? To talk about putting was referred to the Committee on Finance. a pr ice upon silver under free coinage is to talk about measuring Mr. HALE present.ed the petition of W. W. Thomas, presi a measure, about measuring a yardstick. Now, I say it is our dent of the Canal Bank, and of r epresentatives of seven other duty to our people to keep the standard of value uniform in our national and savings bmks of Portland, Me., praying for the country, and I believe that if the American Government will say pass _• ge of Senate bill 453, allowing national banks to issue an to the world that we propo e to have free coinage of silver, sil amount of circulating notes equai to the par value of the United ver will be upon a p :1rity with gold at its coinage value the world States bonds deposited as security therefor; which was referred over. .to the Committee on Finance. My friend from New York [Mr. HENDRIX] quolied Mr. Cernu Mr. MITCHELL of Oregon. I present a petition signed by 19 schi, the great French :financier, as a high authority to prove business men and merchants of the city of Portland, Oregon, in that free coinage by the United States alone is impracticable. I which they pray that Congress may enact legislation as follows: will introduce his own witness. Mr. Cernuschi said: First. That the purchasing clause of the Sherman silver act be repealed. Second. That no substitute of any kind whatever be enacted at this ses France maintained for a century the ratio of 15} to 1 in every part of the sion. world. A m onetary system ba. ed 0n two metals is more safe than it is when Third. That an expert commission be appointed to consider n.nd recom based on only a single metal. England has suffered many crises simply be mend a scientific plan of currency, based on the experience of other coun cause she had only one metal in circulation. tries, and adequate to the requirements of a great commercial nation. He then goes on to ss.y, Mr. Speaker: All the petitioners are leading merchants and business men of It is the monometallists who are the authors of the depreciation which tb:ey point to as a proof of the unworthiness o{the me tal they cry down. ~hey the city of Portland, 19 of them; and their petition comes to me resemble the people who, havinq tied the legs of a horse, call out for him to not directly from them, but under the cover of a communication be killed becaru.e he does not gallop. from the secretary of the Chamber of Commerce of the city of That is what Mr. Cernuschi says about the rea ~ on why silver New York. I move thaii the petition be referred to the Com does not keep upon a parity with gold. mittee on Finance. Mr. Speaker, I see that my time is exhausted. I know that no The motion was agreed to. man's vote will be changed one way or the other by this de bate. Mr. CHANDLER presented the petition of John P. Goggin, Let us not inaugurate a Democratic Administration by repudi W. A. Nelson, George B. French, and llothercitizensof Nashua,. ating our past record. N. H., praying for the repeal of the purchasing clause of the so ·The people will see to this matter; and ii you do not stand by called Sherman silver law; which was referred to the Committee your pledges they will send men here who will. I appeal to my onFinance. · colleagues to be faithful to the people; and then, with the Demo Mr. PERKINS presented a petition of the Board of Trade of cratic party at the helm of st!1te, we can go back and ask them Los Angeles, Cal., praying for the construction of the Nicaragua for a continuance of power, and we shall close the last decade of Canal by the Government; which was referred to the Committee this century with an era of prosperity greater than we have ever on Foreign Relations. seen before, and we sh"ll show to the struggling peoples of the Mr. PASCO presented a petition of the Bond of Trade of world that we realize that we stand as the culmination of the Tamps., Fla., praying for the unconditional repeal of the silver . ' hopes ~f past agos and will not be recreant to the trust com purchasing clause of the so-called Sherman law; which was ra mitted to our care. [Applause.] ferred to the Committee on Finance. LEAVE OF ABSENCE. Mr. PEFFER presented the memorial of N. B. Coggeshall, of By unanimous consent, leave of absence was granted asf.ollows: Eldorado, Kans., remonstrating against the unconditional re peal of the so-called Sherman silver law, and praying for-the To Mr. WISE, for two days, on account of import~t business. To Mr. MARSHALL, for three days, on. account of important free and unlimited coinage of the silver dollar of the present weight and fineness; which was referred to the Committee on. business. UNITED STATES MILITARY ACADEMY. Finance. He also presented amemorialofthe Chanute Populist Club, of Mr. WHEELER of Alabama, by unanimous consent, presented Kansas, remonstrating against the destruction o1 silver by any the annual report of the Bo:ITd of Visitors to the United States legislation; which was referred to the Committee on Finance. Military Academy for the ye:tr 1893; which was ordered to be Mr. WASHBURN presented a petition of the Board of Trade printed, and laid on the table. of Minneapolis, Minn., praying for the repeal of the compulsory The SPEAKER. As it is now within two minutes of the hour silver-purchasing section of the so-called Sherman law, and the :fixed by the standing order for adjournment, the Chair, if there passage of a bill allowing national banks to issue notes to the full be no objection, will declare the House adjourned until to-mor face value of United States bonds deposited to secure circulation; row morning at 11 o'clock. which was referred to the Committee on Finance. There was no objection; and accordingly (at 4 o'clock and 58 Mr. FRYE presented a memorial of the Board of Managers minutes) the House adjourned. of the National Temperance Society, remonstrating against the passage of a joint resolution providing for a six months' exten si.on of the bonded whisky period; which was relerred to the Committee on Finsnce. SENATE. Mr. KYLE presented two memorials of citizens of Clay County, THURSDAY, August 17, 1893. S.Dak., remonstrating against the repeal of the so-called Sher man silver law ; which was referred to the Committee on Finance. Prayer by the Chaplain, Rev. W. H. MILBURN, D.D. Mr. CALL. I present petitions from the boards of trade of a The Journal of yesterday's proceedings was read and approved. large number of cities in the United States, praying for the con CHANGE OF REFERENCE. struction of anational harbor of refuge in the bight of Cape Can averal, .l!,lorida. I move that the petitions·be referred to the Com Mr. McPHERSON. I find• in the RECORD that a bi11 I had the mittee on Commerce. honor to introduce.yesterd ay, the bill (S. 504) for the relief of the The motion was agreed to. Berdan Fir·earms Manufacturing Company, was re:t<l twice by its Mr. MARTIN presented a petition of citizens of Lyon County, title, and referred to the Committee on Claims. By some mis Kans., praying for the repeal of the silver-purchasing clause of take of mine it was referred to the Committee on Claims, when I the so-called Sherman law, and for the pas'3J.ge of legislation in desired to refer it to the Committee on Patents, that committee lieu thereof providing for the free and unlimited coinage of sil having inquired into this m atter. I ask a change of reference ver upon a basisof not less than 15 nor more than 16 to 1; which ' of the bill from the Committee on Claims to the Committee on was referred to the Committee on Finance. Patents. Mr-. GORDON presented a petitian of the Chamber. of Com The VICE-PRESIDENT.