The times. [volume] (Richmond, Va.) 1890-1903, 1893-10-29

u
to-day relate somewhat TO the position
which have taken In regard to this bill.
may be pardoned a word. He announced
here to-day that L had suppressed an
amendment which he had contemplated
authorizing the issue OF government
bonds. l did. said that however much
l might approve Of such measure (al-
though not saying that l did approve ip
l would dlsapprove It here and now. j
said the Sc me thing TO the gentleman from
South Carolina (Butler) In regard TO his
amendment to rehabilitate State banks.
think II was Burke who said that states
manship is the science Of circumstances.
Circumstances control mems votes and
mems actions. And the circumstances or
this bill warrant me-compel me-to ask
the friends of the measure TO vote down
all amendments which may be offered,
however just they may be as separate
and Independent measures. / see it an
nounced in the papers that l would re-
gard a motion to amend the bill as an un-
friendly act This is true. / said it, And
l say here now that any amendment Of
fered TO this bill is an act Of unfriendl-
ness to it.
No Need OF a Bond Amendmrnf.
Another thing, Mr.. President, 1 have not
felt myself at liberty to volunteer meas
ures of relief for the Treasury until 1
should be notified that the Treasury
needs assistance ] have profound re-
spect for and confidence in the Secretary
Of the Treasury. ] have profound re-
spect In the ability, care. the prudence,
the safety OF judgment of the President
OF the United States and the Secretary
Of the Treasury combined. They have
asked for no assistance yet And l do
not feel warranted in asking the Finance
Committee OF the Senate TO volunteer
something which is not asked, something
which might not be received something
which might not be approved. In the
first place. Mr.. President / have heard
no note of alarm-I have seen no sIgnal
Of distress put up over the Treasury
building, and even If l had would want
10 know from the head Of that great de-
partment I'm what form ne desired the
assistance Of the legislative department.
And until that is done, l say, with great
respect for the senator from Ohio, l DO
not know how can formulate the propo-
sition TO assist a condition Of which we
are not advised officially. ] believe that
the enactment OF 1915 gives the authority
TO the Secretary Of the Treasury 10 issue
bonds. and the Secretary of the Treasury
believes the same thing himself, and
when he says he believes he has the au-
thority i believe him. StIll, / believe that
when we reach the question the law
should be modified to the extent OF au-
thorizing the issue Of bonds at a lower
rate OF interest and for a shorter term.
would not have them issued in the in
terest Of bond-buyers or bondholders, but
In the interest Of the public-in the Inter-
est Of the taxpayers ! think that the
senator from Ohio is right in the posi-
ton OF his views. L understand him TO
occupy the position in this respect which
I do-that If bonds are to be issued they
should be issued for a shorter term and
at a lower rate Of interest. so that the
public may take them up, and so that
they may not go into the hands or bank
ers as a foundation for national banking.
But sufficient to the day is the evil there
Of We have no need TO jump the ditch
until we get there. When the pending
/ legislation is completed, when We are free
I from the incubus which rests on public
| confidence. when the national nightmare
/ is removed we can take up the subject
/ in a wholesome way and legislate on 1t.
In the meantime Mr.. President, let me
/ give this assurance, the public credit Will
bs taken care Of Let no man gainsay
the safety OF our currency or or our oDli-
cations under this administration In the
/ year 1898. The Democratic party is de-
/ voted 10 the honor Of the country. It's
] n0UOF
| integrity Of its finances. When the sena-
tor from Ohio sounds a note Of alarm
and says that something must be done to
l protect the national credit / say 10 him
/ that the national credit Is i'm safe hands
/ at this time; never has IL been in safer
/ hands We may differ among ourselves
/ on this side Of the chamber, but we Will
| do so without acrimony and without i'm
! pugning each others motives.
! The yeas and nays were demanded and
! resulted-32 yeas, 81 nays. as follows.
Yeas-Anen, Bates Berry, Blackburn,
/ Butler. Call. Cockrell, Coke, Daniel, Du-
/ bois, Faulkner, George, Harris, lrby,
| Jones (Arkansas), Jones (Nevada) Kyle,
/ Martin, PETER, Perkins, Pettigrew, Power,
| Pugh. Roach, Shoup. Squire, Stewart
| Teller. Vance. Vest, Walthall. Wolcott-52.
Nays-Aldrich, Brice, Caffery, Cameron
| Cullom. Davis, Dixon, Dolph, Frye, Cal
Iinger. Gibson. German. Gray, Hale, Hig-
! gins. Hill. Hoar, Lindsay, Lodge, McMil-
| Ian Mcpherson. Manderson. Mills, Mitch
ell wisconsin,. Morrill,, Murphy, Proc
tor QUAY. Ransom. Sherman, Smith,
stockbridge. Turpie, Villas, voorhees,
Washburn. White Qoulsiana)-37 Sena-
tor Pasco's vote was withdrawn.
Other Amendments Casi.
Mr. Allen offered an amendment pro-
,liirg for the free coinage OF silver at
| the ratio of 16 10 l, which came at once
IN vote without discussion. III was
6efeated-31 yeas, Al nays.
Mr. blackburn offered an amendment
,,ro,,tding for coming the American pro
Suct the value OF seigniorage 10 be esIaD-
ltebed each month by the Secretary Oh lhe
Nfr stewart spoke against this amend
| .,,,r+ as the Secretary OF the Treasury
yvouId have the right to sell TINS puiiioh
81 ev the market price, thereby giving
,ba Secretary undue authority. Mr'
,5loci,burn's amendment was to coin the
American product. The amendment was
Iost-yeas. IS; nays, AZ. s-.,,.
Nr gtewart offered an aheiFliien :
o,,,borizing the President to invite tns
SontbeAP American and Central AMER
oa, renublics and Mexico to send IepLe
santatives TO assemble within nine nioi1i.S n-
and hold a monetary conference 80
cider the feasibility OF estapils,i'ss "a
ooirage The amendment was aele'''
80 yeas, Al nays. aroendment
Mr Squire presented an amen ia., ey
nroviding for practical free cTl,i's coz seceive
cent that the deposltor shoNie ,y,lue
standard silver dollars eqsal 80. the deli.
OF the sulilVe,, MOS 70, 70 national banks to IN,
Nely tant NJ bonds on deTost. Inc IL, IL
luis aoond section provided LOT uePo9
anu et,a@e and that the product snar s
an" S11,si tender in all payments, W. !,
.s, be iegS eg arst. being reJected-Zo yeas 4
nays. ia tbat this vote only
h.sized the statement OF the ssi.'.D 10,
srop, Indlana--that no amendnene, 49,. nD"