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Show The Senate. - , Washington, January ' 20. In the afternoon after-noon Morrill addressed the Senate on the silver question. He premised it , with the remark that the elaborate speech of the Senator from Kentucky (Beck) seemed to throw the burden of the rejoinder on the friends of . the Administration. . Everybody is willing, nay anxious, said , the speaker, to keep as much silver in circulation as can be done and to keep ).t at the same time at par with our gold coinage. The only hostility to silver arises from what seems to be - the fixed and passionate purpose On the part of some of its advocates to promote such an excess of silver coinage as will drive gold out of the country and leave our vast trade and commerce based upon silver only. In reaching reach-ing this position of silver monometallism it is impossible to be blind to the disastrous . CONTBACTION OF THE CIBCULATING MEDIUM Of the country that would at once occur, for when the moment arrives that gold commands com-mands a premium it will all be held as a commodity for sale and not for circulation, a small, or 5 per cent, premium, being as productive of universal hoarding as a 25 per cent, one, and no possible advantage to our people could be expected from following the lame and feeble example of India or Mexico in utilizing the silver currency only. Morrill insisted that there was no war upon silver, but that in substance and effect a declaration declara-tion of war had been made on gold by the leader of the Democratic party in the Senate. Sen-ate. From the pleasure which the Senator from Kentucky had evidenced in delivering in the Senate his antagonism to the President Presi-dent and the Secretary of the Treasury, it seemed to Morrill that the Senator had been J laboring under the delusion that he was still belaboring with left-handed compliments some Republican President and Secretary. His (Morrill's) conviction that the continued coinage of large amounts of silver would DBTVE ALL THE GOLD ' OUT OF THE COUNTRY Was based on the past experience of all civilized civ-ilized people, that inferior money never failed to expel the superior and on the fact that our own silver mines furnished more than one-half the annual silver yield of the world. After the debate on silver, participated in by Morrill, Beck, Teller, McPherson and Maxey, all favoring free coinage except Morrill, Mor-rill, the Senate adjourned. Tlie House. Washington, January 20. The first billon the calendar, however, was the Senate bill for the purchase of the old Produce Exchange Ex-change in New York City and Mr. Symes of Colorado, receiving the recognition of the chair, stated that that was the precise bill he wished to talk about, and immediately proceeded to deliver a speech in opposition to the suspension of the. silver dollar coinage. coin-age. He ridiculed the assertion made by the President and the Secretary of the Treasury that . THE SELVEB DOLLAB Could not be made to circu late, and declared that the coinage and legal tender laws have been willfully violated by the Executive officers of the Government. Admitting, for the sake of argument, that the super-sensitive idea of the Secretary of the Treasury justified him in paying all the interest of the bonds in gold, what excuse was there for his not -paying out the silver dollar for a portion of the ordinary expenditures of the Government? The interest on the pnblio debt was about $4,000,000 a month, leaving $20j000,000 to be paid for ordinary expenses. The Seoretary of the Treasury had stated that he was making every effort to put the silver dollar in circulation. Why, then, was not such an amount of silver paid out as would reduce the accumulation in the vaults? Would the poor pensioners or soldiers sol-diers or sailors or Government clerks object to being paid in silver dollars or silver certificates? cer-tificates? Not at all. Then it was a false pretense for the Secretary to say that he was making an unsuccessful "attempt to put silver sil-ver in circulation. THE FALSE OUTCBY That the people would not receive the silver dollar was made for the purpose of deceiving deceiv-ing the people. It was made in pursuance of a great conspiracy, formed of the bondholders, bond-holders, oapitalistB and mono-metallsts of the money centres to demonetize one-half of the metal money of the world, and it was a matter of serious public conoern that the highest officials of the Government were aiding this conspiracy by violating THE PLAIN LETTER AND SPIRIT OF THE LAW. In August last the Treasurer and-his assistants assist-ants and the mono-metallists had tried to get up a scare by saying the gold reserve of the Treasury was fast disappearing, while the fact was that it was increasing. The House was then brought back to the subject under immediate consideration, being be-ing the Produce Exchange bill. It was passed and the House adjourned. |