Indiana State Sentinel, Indianapolis, Marion County, 30 August 1893 — Page 9

WMUtl ESTABLISHED 1822. INDIANAPOLIS, WEDNESDAY MORNING, AUGUST 30, 1893-TWELVE PAGES. ONE DOLLAR A YEAR. INDIANA. DAY IN CONGRE

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PACKS THE SEDATE

I Mr. Voorhees Proves a Great Drawing Card. Almost Every Senator Is in His Seat, And t Third of the Representatives Listen. THE GALLERIES THRONGED With a Crowd Which Applauds the Indianian In Defiance of the Danger of Being Removed. The Most Rapt Attention Paid to the Speech. It I Regarded ea One of the Ablest KfTorta of the Srnator'i Lone Career He Appeal to the Senate to Perform the I)aty "Which the Country Kxpecte of It Ith All I'oaalhle Dlapatch The Ileal Intereata of Silver Demand the Hepeal of the Sherman Aet Riteuded Synopala of the Aritument. BUREAU OP TUR SENTINEL, WASI 1 INQTON, Auk- 22. TrobaMy not since the days when Ingalls's magnetic eloquence drew such crowds to tlio senate side of the capltol that the galleries would not accommodate those who wished to Unten to hl.i oratory ha Much itn assemblage gathered In the feats reserved for tho public In the senate chamber as that cf today. Not a seat remained uncoupled when Mr. Voorhws took the floor, ani all along tho walls were men and women standing. On the floor but few of tho senators wi-ro absent, und every ouo present K'tve to tho senator from In tlluri.t the de'pet attention. Though nomo of tho best speakers In tho housu wire unnounced as prepared to debate the Kilver question today muny of the representatives forsook their own house to nit and atand about tho aide of tho senate chamber to listen to the armiinent of the chairman cf tho finance committee. Senator Hill, who waa said by hi physician to be too 111 to bo out last night, was today on tho floor and occupied a acat next tho Breaker, while on the other M was Mr. Mills. Chairman lUand of tho house committee on coinage occupied a seat Just to the left and nearly fing Senator Voorhce, and gazed ruefully at him during the tntlre course of hut speech. When Air. Voorhees roue there was a bustle of expectation and u murmur ran through tho Kallerlea, which quickly subsided until the chamber wan ua quiet as though no one was In It. The senator poke In a strong, clear voice, whlh was perfectly audible, and throughout the speech he was awarded the strictest attention. His remark had a patriotic ring. The solid character of the national credit was a theme which Inspired him to eloquence, and the jrosjerlty which awaits tho nation, when congress has performed its duty, afforded him opportunity for a well rounded peroration. Mr. Voorhees, in the course of his speech, gave some exceedingly sensible advice to the silver men, pointing out that a restoration of silver to its proper place In our money system would eventually be the best thing even for them. The people of the country who have been waiting with impatience for the senate to act will applaud the speech without regard to Mr. Voorhees's attitude on propositions not Included In the pending bill. Mr. Voorhees'a speech had been prepared by him In advance, and he delivered It from type-written sheets. But It was spoken with all the energy and vehemence that Mr. Voorhees haa ever displayed In a speech before the senate. lie had not been speaking more than a quarter of an hour when he noticed Mr. Stewart ripe, as if to put a question or to interpose a remark, and he prevented that by stating that he declined in adVance to yield to any interruption, and that he would have to appeal to the chair for protection in his right to the floor. "You will have plenty of chances at me," he said, addressing the Nevada senator. "I will be a naked object here and will answer all questions. I hope I will have a little peace today for about an hour." He then resumed the delivery of his speech, but had not made much further progress before he was again Interrupted, this time by an outburst of applause in the galleries, following an enconlum on President Cleveland. This breach of the proprieties of the place and occasion was checked by Vice-President Stevenson, who threatened to have the galleries cleared if the offense should be repeated. The delivery of the speech occupied an hour and thirty-five minutes. After Mr. Voorhees took his seat he was congratulated by many aenators. The galleries then began to thin out and a majority of the aenatora left the chamber. SENATOR VOORHEES'S SPEECH. A Moat Able Review of the Whole Situation. Senator Voorhees said that, while the calm, unbiased public opinion of a great majority of the American people, irrespective of partiea, had Justified the action of the president in convening the extra session, the causes for the action were widely and dangerously misunderstood, and by certain classes purposely misrepresented. Therefore, he deemed flttlnsly u. few words In explanation, spoken In no spirit of strife or contro

versy. For five months there had gone up the voice of the prophet of financial evil, and from the great money centers had emanated cruel edicts affecting the currency and resulting in panic. No one believed there was want of confidence in the government's credit, or in the stability of its currency, notwithstanding the empty treasury left by the last administration and the record of a billlondollar congress. The American credit was better today than that of any other country on the globe, and even cowardly capital seized upon our bonds with swift greed. Investors of capital complained that the administration had refused to Issue at least three hundred million more bonds. This additional indebtedness. Increasing the burdens of American labor, would be hailed with the keenest delight and swept with avidity Into unpatriotlo vaults by the very partiea who most loudly declaimed against the government credit. There are many reasons why our credit should be stronger now than ever before. It rested on the absolute unity of purpose of the American people that It should be upheld. No one put a political madman could deem a political contest in this country ever again possible on lines of sectional animosity. The public credit of every European government was unceasingly threatened by shadows cf coming wars; financial resources there were constantly weakened by vast standing armies and permanent navies, but throughout the wide earth there were none to molest us or make us afraid of war or rumors of war. Alone as It were, the colossus of tho western hemisphere and towering up in Isolated power and glory, our limitless material resources are sometimes overlooked in summarizing the elementa of our financial strength. The Interstate commerce of the United States alone exceeded in value the entire foreign commerce and carrying trade of fJreat Britain, Germany, France, Austria, Holland, Buss. a and Belgium rut together. Developments of Internal resources, of wealth on farm. In factory, on tho rivers, on the ocean borders, In the mountains and on tho Inland seas, dwarfed into insignificance the achievements of any other age, race or nation, legislation had checked our foreign trade, and we had not today a commercial friend In the world. For every law that we enacted, denying to foreign productions a place In our markets nnd declining commercial friendships, wo might b certain of an Injurious blow in return from every trading people In the world, lie had faith that the giant evil which crippled this commerce would be removed with other evils which challenged attention and action, and If th true greatness of the country wna studied it would be seen thnt financial j.inl s and alarms could have no foundation here. What Money Is. But there was another nnd exceedingly sensitiv nnd powerful test of our government credit which asserted Its claims, not only to the trust und admiration of tlu American people, but nlso to tho business confidence and respect of every civilized nation beneath the sun. Money was simply a medium for the exchange, of values; money wua uircaturo and congress was Its creator. Gold and Its allege 1 Intrinsic value wont for naught as a circulating medium unless the coin bore tho stamp of the govern

ment, a stamp more powerful than the I grasp of the lion's paw or tho cugle's claw in bestowing life and activity on a dead nnd otherwiso useless material. The same ofhclul stamp on sliver or on paper at once ennobled them to an equality with gold In purchasing power, no matter how debased or valuties the material may have become ns commodities by sinister or unwise legislation. It would doubtless sound strango to pome ears that there were nine different currencies transacting the business of this country, and to a largo extent tho business of the world. Ho uniform In purchasing and debt-paying iowcr were they, so in harmony with each other and Interchangeable, that hardly one-half of them were generally known to exist. National credit had been tested by the smooth and harmonluos circulation of those nine currencies, and had, met the ordeal In a manner to awaken the pride of every patriotic American heart. Never was a part of it discounted or discredited, except by the government itself. That happened once and will never happen again. Mr. Voorhees referred to the greenback currency of 18C2. Issued for the purchase of bonds, for the benefit of capitalists who could be induced In no other way to support their government In the hour of Its deadliest peril. The bar sinister was written on Its escutcheon, for it was made non-receivable for customs, dues and Interest on the public debt, and disgraced before the world. Air. Voorhees contrasted, with this "unjust and dishonorable arrangement" the statesmanship of France In issuing asslgnats after the Franco-Prussian war with full legal tender qualities, which enabled her to maintain the strongest financial credit In Europe. He said he had referred to these things to Illustrate the power and duty of the government in furnishing sound, reliable and constitutional money for the people. At this point, he said, he was confronted by law without precedent or parallel In American history; a law which for months past haa been the theme of all tongues and pens, and in whose name financial panic, alarm and distress had been Invoked, and for whose repeal this congress had been convened. Mr. Voorhees briefly stated the birth of the law. which resulted from a compromise, and said that in an? evil hour the worst and darkest that ever befell the cause of bimetallism, or the honor and existence of silver money, this pernicious compromise was accepted and fastened upon the country. The senator from Ohio (Mr. Sherman) it was true now claimed credit for his repeated assertions of late that there had never been an hour since the compromise was effected ' that he had not stood ready to violate it by voung us repeat, in other words, having Induced the producers of silver to surrender their right to Its free coinage in exchange for the right to sell 4,500,000 ounces per month of bullion, the senator from Ohio and his followers on that side of the chamber had been willing and anxious ever since to break the compact, repeal the consideration on which the compact was made and leave their victims of misplaced confidence empty-handed, without either the privilege of coining their sliver or selling it as a mercantile commodity to the government. The act was not intended In good faith for the coinage of silver at all. On the contrary, it emanated from the enemies of silver money, and Its purpose was to degrade, dishonor and dlagrace this, one of the precious metals, until it could no longer hold Its place with gold as a part of the specie basis of this country and of the world. In reducing sliver to a merchantable commodity, on a level with the products of the field and farm, and issuing treasury certificates on it according to Its market value, there could be but one effect on the dignity and stability of that great money metal. It reeled and staggered under the blow until now ita enemies predicted with Joy its speedy and total destruction. How the Sherman Hill Faaaed. Mr. Voorhees said that he spoke In no partisan vein, but yet it was with great atlsfactlon that he quoted from the re;1 ord that not a single vote on bis side of

the chamber was cast for the act which bore the name of the senator from Ohio to such a peculiar eminence. He then quoted the yea and nay vote by which this "most dangerous makeshift ever known" In our financial history passed the senate. He wanted the grave responsibility for the violation of every sound principle of finance, which such a measure created, to be set before the American people by those who were shown by the record to have assumed it. As a firm, unfaltering believer in bimetallism and an undevlating supporter of the coinage and use of both gold and silver as the standard money of the country, without discriminating against either metal, Mr. Voorhees said he voted against the passage of the Sherman act, and for the same reason he would vote for Its repeal. The outcry in certain quaiters at the time, that those who vote for the repeal of this measure are enemies of sliver as money, and in favor of Its demonetization, was not only false, so far as he was concerned, but In the light of what had happened In the past it was absurd. Beginning with the first speech he had made in the senate, and down to the present hour, he could recall no vote or words on the subject of the coinage and circulation of Fllver which he would now change or blot from the record If he could, and now in this, the darkest days ever known for silver, he avowed his unshaken faith that It would remain forever one of the world's great and potential factors of finance, commerce, traffic and dally business transactions. It would neither be demonetized nor driven away from the habitations of tho laboring masses of mankind. It had come down from immemorial ages, and would contlnuo to exist as one of the precious metals upholding the credit of nations and bringing blessings to the sons and daughters of toll when tho scenes through which we arc now passing had grown dim in the light and progress of distant centcrles. He should vote to repeal the Sherman act as he would remove a dead fly from a box of sweet ointment, as he would abate a nuisance and wipe out nn obstruction to rational, wholesome legislation. It tainted and vitiated the entire financial system, and destroyed confidence in all business transactions every hour it remained a part of the law. The question had been asked whether a vote should be given for unconditional repeal before a substitute should be agreed upon. He (Mr. Voorhees) would at once eradicate this confessed evil from the body of our laws, with no othor condition than bis right and free agency to support and secure, in connection with its repeal, or afterward by an Independent measure, such log Islution as was necessary. The primary duty of the hour might ut the time dictate a sound financial system, embracing the coinage of silver on an equality with gold. In making this statement he only repeated the declaration of tho Chicago platform, on which American people restored to tliu presidency one of the strongest, ablest, purest nnd .inmt patiiotle characters ever known to American history. Mr. Voorhees, at this point, quoted the financial plank of tho Chicago platform, nnd saying that the record did not stop nt thin point, quoted from President Cleveland's letter of acceptmice, which, ho Haid, was in ho wlsu modified (,r contradicted by the singularly able message delivered a few days ngo. lie said In four brief sentences It

contained every sound, wholesome, enduring principle of nnance ever known In the history of tho most prosperous nation of the earth. Who dared, In the face of the clear and explicit words which he read, to charge that their author was a inononietulllst In disguise, believer In the use of gold and gold alone, but wearing for the sake of nn election to the presidency, a bimetallic mask. Ills fearless frankness In tho expression of his views on all public questions, wltho-it regard to their effect upon himself, bad long been conceded by friend and foe to be tho leading characteristic of his mind. He had never recalled, retracted or explained a single word of Ms letter of acceptance, and It was Just ns binding as when first given to the world. He (Mr. Voorhees) was willing to stand or fall by his faith In the truth nnd honor of Grover Cleveland, and in his well-known fidelity to pledges when once they were made. A Tribute to Carlisle. John (. Carlisle was the peer In Intellect and Fpotless Integrity of any of the Illustrious statesmen who had held the folio of finance, Including Hamilton, and he made no mistake in placing hlrn as a bimetalllst. Said Mr. Voorhees. "As a democrat and American citizen, and loving und believing In Justice and fair play and common sense, I appeal to those round me, and to the great body of the people, to know whom we can trust, whom we can believe at such a time as this. If we are to turn our backs on such men as Grover Cleveland and John G. Carlisle? God help the democratic party and the country if such a stupendous mistake Is to take place." C mtlnulng, Mr. Voorhees said that such questions as ratio were matters of detail, but the American people had declared that sliver should not be demonetized, and the contraction should not take place on the basis of monometallism. Congress would establish a fair ratio, and neither of tho metals would be dismissed. No efforts would be spjired to effect an International agreement, but under no circumstances would the laboring, debt-paying, ninetenths of the American people consent to double the debts of debtors by destroying half of the constitutional money, ile would say to those urging a single gold standard that tho people would tear down and annihilate such an oppressive and destructive system of finance should it ever be established. Mr. Voorhees here paid an eloquent tribute to the Western silver-producing states. He told In glowing language how the country had come into possession of these states, calling them "the treasury house of American riches, power and glory," and said that they had been preserved to us as a trust and a blessing to the present and future generatlona. There had been no business disturbance in connection with silver until after the stealthy and treacherous attempt to stab it to death in 1873. He submitted to the western senators that the very existence and honor of the true silver currency required the fair and legitimate coinage of silver, other than Its sale as bullion. Must we not at once and without delay get back of all makeshifts, subterfuges and insincere lompromises, and stand on the plain constitutional right to coin silver and gold into money? What hope was there that silver would rise from the degredatlon Inflicted upon it by the Sherman act? Who in this chamber or elsewhere w-as willing for the government to remain responsible for such an enactment a single day longer than its repeal was possible? If Indiana were inlaid with silver or threaded with gold, he would resent any such discrimination and would vote for the repeal of the ill-omened and bad-odored act under discussion. Mr. Voorhees said that there were features of the situation demanding consideration which did not result from the Sherman act. The bitter and determined assault which had been witnessed on the present administration to compel an enormous Issue of government bonds had not gone unheeded by the American people, nor had the authors of the assault and those Interested In Its success escaped widespread and intelli

gent observation. By breaking the gold reserve it was supposed the secretary of the treasury would be under the Immediate necessity to Issue and sell bonds to keep the reserve intact. The attack, therefore, on the head of that column was swift and strong. With Intervals of delay for ample and skillful preparation those attacks have been repeated again and again, and have only slackened In their frequency and force since it was found that the executive department could not be coerced In that way. The campaign of capitalists seeking a new supply of interest-bearing government bonds did not confine itself to any one point of assault, while they operate to break down the gold reserve and to that extent imuiir the public credit. They startled the country and thrilled the world with the cry that American gold was running away from the silverblasted country, chased out by silver money and that there waa no way to lure It back except to bail plentifully with government bonds. The Sherman act was made to do double duty and was charged with grave offenses in which It had no part. He never believed that our sliver had driven gold from the country, and In this connection he recalled the wall of dismal prophecy that went up when in 1878 the attempt was made to check the torrent of bankruptcy and ruin occasioned by the demonetization of sliver in 1873. It was predicted that gold would fly to the uttermost parts of the earth, from beneath the folds of the American flag to escape the contamination of silver. What did occur? The government coined 524,000,000 of silver per year for twelve years, and meantime the gold In the United Ktaes Increased at the rate of $10,000,000 per year. Such was the fulfillment of the prophecy of 1878, and yet ho was now expected to believe that the free coinage of silver at a proper ratio would banish all our gold and put us on a single silver basis. He must be pardoned for believing nothing of the kind. The tnpatrlotlc Dank a. The gold shipments were to be accounted for as part of the plan to sack the treasury, which was to be accompanied by a concerted outcry from tho terror-stricken business circles and from the whole national banking system that nothing could restore confidence und credit save the Issuance of $300,000,000 of bonds. Ho had no desire to nssall tho national banks. It Was tho system he arraigned, und not the individuals who conducted It. The unrestricted, unrestrained nnd unbridled power of theso banks, whereby the circulation of money In tho bands of the people can be nnd often has been suddenly fluctuated from a prosperous maximum to a stunned and distressful minimum, constituted a standing and frightful menac e ngalnst the safety, the welfaro and tho happiness of the great and most useful body of the American people. The idea presented was appalling, and no other nation on earth had ever permitted such power to private parties. In tho attempt to force the government in the attitude of a borrower to escape bankruptcy the banks had endangered their own credit and In many Instances

caused it total Jobs of tho confidence of those who had trusted them most. Without unklndnesa In his heart, still, ho must say, the consequences be on their own heads. In the midst of a fair and reasonable degree of prosperity the volume of our circulating medium, even whllo tho people were looking at it. suddenly shriveled away and practically vanished from their sight. As if by some infernal enchuntment, money disappeared In a single night and left the people In mourning and deep trouble when morning rami). The men of active business and tho tolling millions who suffer most have been tempted In their distress to say that there was no longer any money in this country. The books showed that something more than $1,600,000,000 nearly twenty-four dollars per capita was In circulation within the rast year, nnl should be In circulation today. The government waa not In direct contact with the citizens on this subject. The national banks were between the government and the people, and In their vaults today lay hidden millions and hundreds of millionsnot less than two-thirds of the whole amount dedicated to circulation on the books of the treasury, held there by the coward ly, unpatriotic fear which has always haunted great earthly possession. Could any one be blind to the fact that the banks had not only and without cause, except their own Interest, turned their keys on all business prosperity, but that they had also attempted to seize the government Itself by the throat and to play bully and mastiff toward those highest In authority? In this connection another great evil arising from the selfish and greedy instincts of the money-power demanded thoughtful attention. On general principles the contraction of the currency throughout the whole country was an object eagerly sought by that limited but powerful class of people who control four-fifths of the wealth and nearly the entire volume of the circulating medium of the United States. The power of the millionaire over the property, the labor and the very lives of the people depended not merely upon the great sums in his own coffers, but equally as much, and far more, on the fact that the great Industrial classes had scarcely any money at all in their hands, and were deprived of every reasonable chance to obtain more. A condition of the two extremes of vast, consolidated wealth on the one hand, and absolute poverty on the other both very dangerous Was rapidly culminating In this country. Every proposition to put more money in circulation and within reach of the people's dally toll, was always fearfully denounced by those interested In minimizing the wages of labor and the exchangeable value of property. Every dollar which tended to make the people independent of the banks, of usuers and taskmasters was looked upon with aversion. The Tension Money. Even the penslcn rolls of the government those records sacred to the blood and tears of millions, shed for the existence of the American union, had not escaped determined and vindictive assault. The fact that the amount of money in circulation Is largely Increased every three months In the year, by the payment of pensions, that it is done without the agency of the banks and beyond their control for fluctuations, has excited the open and bitter opposition of the great money centers from the very beginning of our present pension system. The charge made of fraudulent pensions was simply a continuation of what had been heard from the start and had the same Inspiration ns In former years. That frauds were sometimes committed In the pension office was undoubtedly true and they should be Investigated and exposed. But the same could be truthfully said of every other office or institution known among men. Fiaud was Incident to human affairs and from it there could be no complete escape, but It were better far that even a fraudulent pension1 should be granted than an honest, well-earned, well-merited pension should be denied. It was the

question of money, however, and not the question of fraud, which provoked the greatest wrath in certain quarters on the subject of pensions. After quoting from his former speeches on the pension subject. Mr. Voorhees said that Jt was clear to his mind that pension money, amounting to over $160.000,000 per annum, perhaps, and going everywhere, was one of the greatest sources now left to the people in the way of currency, independent of the contracting, retiring power of the banks. Turning again to a discussion of the national bank system Mr. Voorhees asserted that the banks were entering on a final fight for a prolonged future existence; they were engaged at their Quatrebras. preliminary to their Waterloo. They intensely realized that the present supply of government bonds must be very largely increased within the next five years or they would be forced to commence winding up and retreating from the theater of action in which they have so long appeared. Fourteen years hence. In 1907, the last bond on which the banks had issued their currency would have been redeemed and cancelled. Long before this the question of a perpetuation of the national banking system would be pressed upon congress peremptorily. In view of the recent action of the banks congress could not too soon consider what system the government should

adopt In the near future In furnishing a circulating medium to the people. Was there a friend of the national banks bold enough to announce his belief that the tax-paying American people would consent to the indefinite continuance of an immensely Interest-bearing bonded debt merely for the sake of upholding such a system as we now have? Without such a continuing national debt the banking system of the United States would pass away forever, and the resources of statesmanship would be called upon to establish another and a different fiscal agency in Its place. He took his stand against the existence, the increase or the perpetuation of the national debt for purposes of national banking, and called upen he millions who constitute the great army of laborers to take notlce of thla issue from this time on an Issue that will not down at any man's bidding. Mr. Voorhees then proceeded to outline his Idea of what was to follow the national banking system, and said that when the democratic) party declared In Its national platform for the repeal of the government tux on the Issue of state bank a hue und cry was raised by the republican leaders, ns If a public enemy under arms was about to Invade the country. Investigation upon the subject, however, showed that no one had ever lost a dollar by the depreciation of the notes of a regularly chartered state bank or Its failure to redeem Its currency In gold or sliver when called upon to do so. It was this kind of a circulating medium, resting on a speclo basis, and always redeemable, that was driven out of existence by a spurious. Insincere mode of taxation for the beueilt of the national banks. Mr, Voorhees denied the constitutionality of the 10 per cent, tax on state bunk circulation, even though a majority of the Supreme court hud reached such a conclusion, nnd argued for the rlxht of the state to provide Its people with a circulating medium through the ugency of state banks. 1'or n National Currency. Supposing that this stoic bank tax had been repealed, Mr. Voorhws asked, what, in that event, should congress do? He did not expect the government ever to abandon a national currency though It would bandon the system of national banks, but he did expect at no very distant duy that United States notes that are now and have been In existence for thirty years past, their payment guaranteed by the honor of the government, would supersede all other national money except gold and sliver, and that without Jar or friction they would circulate In tho hands of the people alongside of tho woll-guarded, safely-secured currency. Issued by the states and guaranteed according to the cor.stitulon by both the precious metals. Tho great value of state bank money was and ought to be, mainly local. It would increase the home circulation and the home accommodation of every agricultural community on American eoll. Meanwhile It should be the plain duty of the federal government to issue Its own inaiwaJlable nots by retiring much of Its present outstanding currency, and also by the payment of Its debts and to Issue them In amounts equal to the requlremnts of trade as nearly ascertained as possible, bearing within the breath of national life, honored In every village and hamlet in the American union; uniform In value from Maine to Alaska, and their faces as well known as the flag wherever flies that emblem of the power and glory of a united and fraternal people. Those who lived to witness the adoption of thla policy would, Mr. Voorhees thought, look upvn the salbst, strongest and most beneficial systtrn of finance ever before known In American history. It had In It the elements V7lth which to accomplish these paramount and Indispensable features of all sound financial legislation. 1. A sufficient volume of currency at all times, state end national, on practically a specie basis, guaranteed also by public honor, with which to transact the growing and expanding business developments of the country. 2. The absolute denial and destruction of all power In the hands of Individuals, corporations or syndicates to cause fluctuations In amount of the different currencies In circulation, thus rendering panics and business distress Impossible for the future. 3. Every dollar In circulation, whether gold or silver, state bank paper, or United States notes, on a strict parity and interchangeable with every other dollar thus securing to the people the benefits and advantages of both a state currency and a national currency, circulating In harmony and uniformity, and peformlng all the functions of money at home and abroad. 4. The settlement of the vexed question of silver money at once and forever by authorizing It to form its portion of its specie basis, required by the constitution "for every chartered bank In the union, by recognizing It when defining the powers of the states to make legal tender money, thus making the use of silver, coined Into money, as Imperative as It will be useful to the great body of the people. 5. The total and complete overthrow of th dangerous centralization of the money power now existing at a few money centers, and In the hands of a few Individuals, by giving to the people of the states the right of home rule on the subject of money, and thereby securing them a reliable non-fluctuating home circulation. To these five propositions Mr. Voorhees added but one more a carefully adjusted and graded income tax, a most equitable and upright measure in providing government revenue, and demanded by old-fashioned, eternal Justice. In conclusion Mr. Voorhees said: "And now. in the meantime, and in view of the present crisis, full of peril, as It is, let the whole people of the United States, ,of every commonwealth and of every neignDornooa, cast out wieir tears ana

abide in the unshaken faith that the present disaster will pass away and be followed, as soon as much needed reforms can be accomplished, by the unbroken sunlight of prosperity and that He who determined the destiny of nations will cause the republic of our fathers to win, and not to lose, In the transcendant mission, to which It was dedicated a hundred years ago." Senator Voorhees's speech was listened to with the greatest interest and attention. Nearly every senator was In his seat, many members of the house occupied the sofas in the rear and the galleries contained the largest crowd of the session. The presiding officer was obliged to threaten to clear the galleries in order to repress the applause called for by Mr. Voorhees's affirmation of allegiance to Cleveland and other strong points. Senator Voorhees today received a telegram from Terre Haupte Indorsing his efforts to relieve the financial stringency and trusting that the measure he has Introduced may be rassed. The telegram Is signed by all the editors of the newspapers, the heads of the banks and prominent business men about equally divided as to parties. Following Mr. Voorhees, Mr. Dubois spoke against and Mr. Palmer for the Voorhees bill, the latter declaring that no finite mind could now fix an equitable ratio now for the coinage of ellver and gold. A motion to proceed to the consideration of the bill to Increase the national bank circulation waa made by Mr. McPherson. This motion provoked much colloquy, in the course of which Mr. Voorhees gave notice that If it shhuld turn out that the national bank bill was to be used to delay action on the bill to repeal the Sherman act. he should move to side-track It. He thought It better that senators should be frank with each other. Mr. McPherson's motion was agreed to yeas, 40; nays, 10 and the national bank circulating bill was accordingly taken up the question being on the amendment offered by Mr. Cockrell for the redemption of such 2 per cent, bonds as may be offered and for payment in a new issue of treasury notes. Mr. Stewart whs the first senator to take tho floor, and ho set out to antagonize Borne of the ioultlons taken In Mr. Voorhees'a speech. Ho compared the position of the Indiana senator to that of a Missouri Judge who, in a decision on a fugitive slave case before the war. was said to have "given the law to tho North and tho negro to tho South." After a brief debate, the bill nnd amendment went over without action.

A II A Mi wis movi:. Monster Petition l'rglng Congress to llfprnl the Sherman Aet. Ni:w YOHK, Aug. 22. The American bunkers' association Is now mulling from Its olllcc-e tho accompanying circular to all bunks und bankers In tho United btales: NEW YOUK. Aug. 19. 1S'J3. To the Bankers of the United States: Gentlemen Tho extraordinary monetary crisis through which the United Stale are now passing, which Involves the banks of the country to an extent that compels their officers to remain constantly at the iMjt of duty while the danger 1 imminent, has constrained the American bankers' association to indefinitely potttpono lis annual convention call for tho 6th and 7th prox. at Chicago. This will prevent such expression on the part of the association us the financial situation demands, which otherwise Would bo made. It thus become the duty of the officers of the association to speak for It at thla time and suggest what seems to them to be the proi-r action for the bankers of the country to immediately take with a view to obtaining spedy relief from the continued nnd disastrous stringency. It Is manifest that the immediate cause of the prolonged stringency Is the fear and apprehension of disaster engendered in the minds of the people by the continued purchases of silver by the government, and by the unceasing Issues of Its obligation! therefor, redeemable in gold, which fear and apprehension can only be removed and confidence restored by the removal of the cause. It is believed that the bankers of the country will understand and realize this to as great. If not a greater extent than any other class of citizens, and Jt therefore becomes the duty of such of them as fully realize thla to urge upon their fellowcltlzens and upon congress the great necessity for the Immediate and unconditional repeal of the purchasing clausa of the Sherman silver act. The repeal of this clause Is demanded In the interests of those favoring a gold standard and of those favoring the use of silver with gold, as the continue purchase of enormous quantities of silver with gold obligations can only result In the final Inability of the government to redeem such obligations in gold, and in the continued overproduction and consequent further depreciation of sliver, thus rendering the prospect of any International agreement fop Its more general use throughout the world more hopeless than at present. The president of the United States having convened congress in extra session and having recommended to it such repeal, the power of public opinion should be brought to bear upon congress to induce favorable action thereon. This may ber.t be done by Invoking the aid of the pr'is and by citizens writing to their senators and representatives, and by sending to them petitions urging such repeal; all of which should be done to the fullest extent possible and without delay. A blank form of petition Is Inclosed to be circulated among merchants, business men and others for their signatures, to which additional sheets may be appended. Act at once In the matter and secure the intelligent co-operation of others, providing them with printed or type-written coplee of the petition for the purpose. Respectfully, WILLIAM II. TUIAWN, President. II. PULLEV, Chairman Ex. Council. H. W. FORD, Secretary. The New York board of transportation has called a meeting of representatives of commercial bodies throughout the country to be held In Washington Sept. 12, for the purpose of urging upon congress the business necessity for the Immediate and unconditional repeal of the silver purchasing clause of the Sherman law. A Business Head. Old Bullion (on his death bed) "All my property is willed to you, but I'm afraid my children by my first wife will make a contest, and then the lawyers will get It." Young Wife "Don't worry, my love: I can easily fix that. I'll marry one of the lawyers." N. Y. Weekly. He Deaerrea Thank. Jlmson "I see that ladies are beginning to take their hats off at theaters." Bllson -"Yes; some bright genius started the theory that women kept their hats on because their hair was frowzy." N. Y. Weekly. I It Safe To neglect yourself if troubled with any disease of the kidneys? No, it is dangerous, and if you are so afflicted attend to yourself now. Do not wait, but use Sulphur Bitters at once. They cured me when I was given up to die by several physicians. Jonathan Ham, Boston.

BYNUM FOR REPEAL

And That Without Unnecessary Delay. He Makes an Argument In tho House. GIVEN A CLOSE HEARING. The Galleries Crowded to List en to His Remarks. A Clear nnd Concise Statement of the Question. The Itemarka of the Incllanlon Make n Marked ImprrMlon on the Iloaa Statement by Secretnry Carlisle IlrKnriHnK the CnlnnKc of Mirer Petitions Drinanillni; Itepcal X the Sherman Act. BURKAU OF THE BKNTINEL. ' WASHINGTON. D. C. Aug. 22. Shortly before Senator Voorhees concluded his address In the senate Congressman Bynum was uccorded the flxr in thi house. He was given splendid attention by both democrats and republicans as well as by the people In the galleries, which wcro well filled. His nrgument for the repeal of the Sherman law was strong and symmetrical in its urrangement, concise in style Hnd very effectively delivered. Mr. Bynum's manner Is earnest and sincere, and today he seemed more convincing than usual. His pica f r the xuttlng nsldo of partisanship was a sincere and manly utterance, but did not find favor In the eye or Hepburn of Iowa, who followed, and who made tho most rancorous partisan dcilvc-rnnco of tho ponding dfbate. The thoughtful members of both parties, however, were pleased, and warmly congriitulutcd Mr. Iiynum at the conclusion of his remarks. Sir. Ilynuin's Argument. Mr. Bynum, In udvoentlng the Wilson bill, said that uri'iuctdJonably the vast majority of people believed that the Hhrnmn law wss responsible for the evils described by the preslJvnt. Flnce tho passage of the act the price of silver had gone steadily down. By thla fall the government was lofting more than $10.000,000 a year. Oold was being exported in large sums. He highly eulogized the action of Secretary Carlisle for his refusal to Issue bonds. He did not believe that a vote would be changed under the threat that a representative would lose his seat who voted for the Wilson bill. The time had come when cunt und subterfuge should be driven from these halls and Judgment and reason restored. (Applause.) It was said that silver had appreciably fallen In value during the past twenty years because during that time It had been under Are. There might be soma truth in that assertion. The United Slates could not open Its mints to free coinage at any ratio with the mints of all the other civilized nations closed against It. This country could decide hi no ratio that would give a fixed alue to silver. If the United States -hould adopt a free coinage act there .sou Id pour Into this country in one year mure silver than tho mints could coin in ten years. TW free coinage of silver at this time would be Uie severest blow that could be struck at that metaL Free coinage here meant silver monometallism, and no one was arguing to destroy silver metal more utterly than the advocates of the Manfl amendment. Free coinage would damage our trade and commerce and a fall in the value of money would mean a fall in the value of the money in which the workinjrmaa was paid. Should free coinage be decided upon he would bid farewell to any hope for tariff reform. Mr. Hepburn ridiculed the Idea that partisanship could be eliminated from this debate and satirized Mr. Bynum (a man who had defied Speaker Reed in the most Insulting terms) for asking that cant and subterf-ige should be eliminated from this discussion. He opposed the repeal of the Sherman law and he protested against the shifting process of legerdemain by which the democrats attempted to place the responsibility of the repeal upon republican shoulders and to make the republicans admit that the Sherman bill contained all the In-; iaulties which the democrats In their enthusiasm charged that It did. (Applause.) The banks, the boards of trade, the chambers of commerce, the monted Institutions did not rule the business of the country. Their business began where the business of the producer ended. (Applause.) He believed that the Sherman aet. In its operation, as beneficial at all times, and It was not harmful today. The true way to solve the financial question was to compel by wise and Judicious legislation the balance of trade to be in our favor. (Applause.) Let us buy less abroad; let us patronize less the labor fields of other lands and more of our own. (Applause.) Let us, by Judicious measures. Increase the merchant marine, let us secure by proper methods (of subsidy or bounty) the production of all the sugar we need. (Applause.) All bankers are monometallists and they recognised President Cleveland as one. The General Debate. The general debate In the house opened for the day with a speech from Mr. Hopkins of Illinois who favored unconditional repeal. The surprise of the day was the speech of Mr. Hepburn, who was comptroller of the currency under the Harrison adminlntration. He disagreed with his party colleagues and emphatically declared against the repeal of the Sherman law. That law, he continued, had been beneficial in its effects and It should not be repealed. Mr. Mallory of Florida said the tariff was responsible for the rresent depression. He wanted some middle ground taken on silver. Mr. Lande of Illinois contended for free coinage as did Mr. Newlands of Nevada and Mr. Jones of Virginia. In the evening Mr. Ellla of Kentucky spoke for free coln-ige and Mr. McKaig of Maryland against. Mr. Cooper of Texas spoke against the Wilson bill and Mr. DeForest of Connecticut for it. Mr. Arnold of Missouri spoke againsf repeal as did Mr. Williams of MUflai