Show A SUB TITUTE REPORTED Senator Voorhees Reports Back the House Bill Amended TEE BILL GOES OVER A DAY A Very Warm Debate Occurs Over Stewarts Resolution cnator Teller Makes a lUnging Spneou in rarer of White Metal IIo Protests Against Calamity Howlers His Address Ad-dress Nat Concluded WASHINGTON Aug 29In the Senate Mr Voorhees chairman of the finance I committee reported back the House bill repealing part of the Sherman act with I an amendment in the nature of a substitute substi-tute He asked that the bill be placed on the calandar and gave notice that he should ask the Senate to take it up and consider it Immediately niter morning business from thin time on until final action bo taken The substitute he said was exactly the bill heretofore reported J from the finance committee On objection of Mr Teller it went over till tomorrow Mr Harris a member ot the finance committee said the substitute just reported was the majority report did not in which the minority committee concur The resolution offered yesterday by Mr Stewart was then laid before the Senate J It directed the secretary of the treasury to 7 Inform the Senate whether there is danger of a deficiency in the revenues of the government during the current year and if so what is the probable amount of such deficiency and whether legislation is necessary to supply such deficiency This resolution gave rise t a long discussion dis-cussion Senators Sherman Voorhees Mills McPherson and Harris opposed the resolution as calling for a problematical proble-matical statement a calculated to create needless alarm or as reflecting on the I secretary of the treasury A motion to refer the resolution to the finance committee com-mittee was made by Mr Voorhees and that motion was opposed by Mr Hill and by Mr Stewart Mr Hill declared that he could see no k danger to the country from the adoption of the resolution Mr Stewart who also defended it declared de-clared that there was a rumor that there was a deficiency in the revenue that the treasury had difficulty in paying current cur-rent expenses and the gold reserve was being paid thereof After some further debate the resolution resolu-tion was finally referred to a committee by 40 to 15 The senators voting nay were Allen Call Dubois Hansbrough Hill Irby Jones of Nevada Lindsay Heifer Power Shoup Stewart Teller White of California and Walcott Mr Dolph introduced a bill which was referred to the committee on foreign relations rela-tions appropriating 500000 to enable the secretary of the treasury to enforce the r Chinese exclusion act and said he would seek opportunity of addressing the Senate on thesubject Mr Gordon addressed the Senate in favor fa-vor of the unconditional repeal of the purchasing clause of the Sherman act and against the substitute In the concluding con-cluding portion of his speech he advocated advo-cated the repeal of the 10 per cent tax on state banks Mr Teller addressed the Senate in an argument to prove that the Sherman law was not responsible for the financial trouble of the country Almost without exception he said everyone every-one who haa addressed the Senate had spoken as i there was some great calamity impending over the people of the United States He wanted to enter his protest against the calamity howlers howl-ers Thero was a disturbed financial condition of an unusual character and itt it-t seemed to him the first thing t do would be to inquire what brought it about and vet during three weeks session he had not heard anybody suggest an intelligent renson for the present financial condition condi-tion Nobody had analized the question as to whether the cause was or was not the Sherman act He challenged any senator to tell and to tell the American people that he believed the people had Drought about this panic because they were afraid of their money There has been taken from the banks since the first blast of spring at least 150000000 by men who were dissatisfied dissatis-fied with the present condition of things They had taken out their money and had putit away but they had not demanded gold They took whatever currency they could get He ha1 ° eu in the city of Danver when fov oiml banks there all solvent hac1 iu He had gone ont on-t the street wh t crowd gathered and asked the peo what tilt trouble was and he was to i We do not know what the troutP is e have been told that tbcjre ij LV o great financial disturbance in the country We do not know whether the banks will be able t pay us our money when we want i and we think it is safest t get it now I Thoso prognostications of coming evils hojaid had smancted from the New York banks and newspapers The cry of the metropolitan papers was followed by all the small papers of the country None of them had been able to tell what was coiner to happen These misrepresentations and false statements brought about a state of things which could be brought about in any country and at any time by such means and agencies Mr Teller then went on at great length to discuss the course taken by New Yorks banks in refusing to pay the depositors de-positors checks in currency and in trying try-ing to work up public opinion in favor of the repeal of the Sherman act He noted the reported interviews wi lbe I President and Secretary Carlisle < l criticized the views attributed to Je II President and which he paid had m fer been denied Htht the people of pe United States needed an object lesson did I were going to get it Without concluding conclud-ing his remarks Mr Teller yielded for a I motion to proceed to executive business and afterwards the Senate adjourned |