People's Pilot, Volume 3, Number 11, Rensselaer, Jasper County, 1 September 1893 — Washington Letter. [ARTICLE]

Washington Letter.

From our regular correspondent. Washington, Aug. 23, 1893. The third week of Congress has been much more interesting than were the first two, in both House and Senate. The most .interesting event in the Senate was Senator Vorhees’ radical silver speech, which differed widely from what was expected. Notwithstanding the Senator’s strong argument for the immediate repeal of the purchasing clause of the Shermaa silver law, it is not probable that President Cleveland was pleased with the speech. Although he gave Mr. Cleveland and Secretary Carlisle a liberal supply of “taffy,” the speech as a whole was not in accord with the administration. Mr. Voorhees favors the repeal 'of the purchasing clause of the Sherman law merely to clear the deck for future legislation which shall give silver its rights as a money metal, while Mr. Cleveland is believed to favor it for a different reason; Mr. Voorhees opposses the present pension policy of the administration, which is understood to be Mr. Cleveland's personal idea; he advocates the Populist idea of a graduated income tax, and the substitution of state banks tot the National banks, two matters upon which Mr. Cleveland has been non-committal up to the present time. It is a question whether the speech of Mr. Voorhees made any votes for unconditional repeal of the ourchasing clause of the Sherman law, but there are rumors that several southern senators, heretofore supposed to be against unconditional repeal, will follow his example—make strong silver speeches and then announce their intention to vote for repeal.

* * * The increased interest in the House began with the announcement of the committees, which owing to good newspaper “guesses” contained few surprises, and has been kept up through the week by the spirited speeches for and against repeal, the running five minute speeches in the debate of yesterday and to-day being the most interesting of all because of the large number of members present and taking part therein. The House will begin voting Monday and unless there is some unexpected hitch the matter will be disposed of on that date. Conservative men on both sides consider that the outcome is still in doubt, with the chances slightly favoring repeal. The administration played a strong card against the “increased ratio” men when Secretary Carlisle sent to Senator Voorhees for the information of the Senate Finance committee an estimate of what the cost would be of changing the ratio of coinage—more than §112,000.000. * * * “Every bondholder his own banker,” is the popular title which has been given to the bill introduced by unanimous consent of the House by Representative Johnson, of Ohio, making U. S. bonds exchangeable for treasury notes and vice versa, at the option of the holder, the interest on the bonds to cease while they are in the government’s possession. The idea is an old one, having been originated by a greenbacker, in the heyday of that party, away back in the seventies. The banks and money lenders will oppose it, because if it were a law it would deprive them of a profitable line of business—loaning money upon U. S. bonds.

Senator Hill’s speech to-day in favor of the repeal of the purchasing clause of the Sherman law was listened to with great interest. * * 41Senator Peffer threw the Senate into a commotion when he called up his resolution calling upon the Secretary of the Treasury for, information as to the conduct of national banks in refusing to pay promptly the checks presented by their depositors. Senator Hoar wanted the resolution referred to the finance committee, and said that in times of panic the national banks should not be held up to the strict letter ot the law 1 "' and that it would be well to wait a week or ten days before poking into the matter. The same view of the matter was taken by Voorhees, McPherson, White and Gorman, and was opposed with spirit by Kyle, Manderson, Wolcott and Hill, the latter saying sharply in answer to Mr. Gorman’s argument against the rigid enforcement of the law;

[ “There never has been so bad a case in the history of the country that its advocates have not always pleaded that the matter complained of was not in the interest of the public welfare.” The matter was temporarily disposed of by sending the resolution to the foot of the calander, but it will be heard from again. * * * The Senate by a vote of 34 to 31 decided against seating Lee Mantle, who was appointed Senator by the Governor of Montana, but a motion for a reconsideration is now pending. The decision will practically settle the fate of the applicants from' Washington and Wyoming.