Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-29
Comments on the Veto Message on
the Seigniorage Bill.
SENATORS and REPRESENTATIVES
Give Their Views as to Its Probable
Effect.
SERIOUS DISTURBANCE

Inc veto message or PRESIDENT Cleveland
has caused the most intense feeling that
can be imagined among the democrats in
Congress Though professedIy anticipating
the veto, most OF those who were praying
for the signing of the bill, entertained some
faint hope that the veto might be avoided.
knowing this morning that the message
was to be received, they were in such an
sxcited state Of mind that IL was almost
impossible to proceed with the business Of
congress, and on the receipt Of the mes
base' "hlch came in the middle of the roll
saL' the excitement was so great that men,
cers standing around the Speakers desk
ialed TO hear their names called, and the
roll call was almost a bark.
Serious Disturbance
Leaving out the eastern men, nearly
every democrat in the House is either a
silver man or has a silver constituency;
therefore the veto is a most serious dis
turoance to all Of them outside Of the east.
inere Is SO muo3 of excitement and confu-
slon or mind O. tn, subject that it amounts
practically to .IsnaA srency and II ia AL
most impossible to get a cool and rational
expression or opinion. The feeling of re-
,na on the part Of the southern and
western men is manifest and the predic-
tion OF further trouble over the question In
congress Is almost universal
me radical silver men who voted for free
VI
represent silver districts and voted against
tne sherman law and against free coinage
are Tor the most part eager for a chance To
,ote on Tree coinage bill The most CO.
herent and general opinion is that the veto
VIII seriously affect the tariff legislation
and that there will be a fight for free coin
age during this session in both houses Of
Congress.
Represen tative Kilgore. who is conserva-
tive in finance and voted for the repeal of
the Sherman law. said that he could not be
quoted too strongly in opposition to the
veto. 1T will cause" he said. IAN immense
amount Of trouble in Congress and will
eer1ously interfere with tariff legislation.
The future is altogether too unsettled to
look INTO, but IL Is certainly bad
Mr. BIand's Comments.
Represen tative Bland, author of the
Bland silver seigniorage bill vetoed today,
authorized the following statement con-
corning the veto and its effect upon the
future of silver:
The main point Of the veto is that the
President does not wish to infuse into the
currency any more silver until he has more
bonds and greater gold reserve. He in
ststs on the fight that has been in progress
for the last year on the one hand by those
who wish to increase the bonded debt in
the interest OF national banks by selling
bonds for gold and for money to pay the
current expenditures Of the government
and on the other hand by the representa-
tives OF the people who opposed to
bond issues and in favor of coming the
silver bulliOn-the assets We have on
hand-and using this money in the pay
ment OF current expenditures.
THE message criticises to some extent the
language of the bill. but states that the
veto Is not based on that, but on the broad
er ground that the purposes OF the bill, II
carried out, would largely initiate the sill
yer currency while providing no gold basis
to preserve the parity
The first section Of the bill provides for
the coinage of the bullion held under the
Sherman act That act provides that the
bullion shall be coined into standard silver
dollars The Sherman act Is not repealed
and hence the Presidents observation that
1t Is not clear into what kinds of coins the
bullion shall be struck Is not lawyerlike
when lawyer knows the bill Is mere
supplement to the Sherman act and leaves
the bullion TO be coined under that act
No friend Of the bill in the House or the
Senate has even considered 1t as wanting
In certainty or requiring any amendment
These criticisms of the bill itself were who'll
~ unnecessary on the part of the President
when ne gives Congress to understand that
no bill could possibly be drawn compelling
the coinage of the silver bullion which
would meet his approval
"A President at all in sympathy with the
purposes OF the bill would have sicned II
College professors NAV criticise its Ian
suage. but man who sprung from the peo-
pie like Abraham Lincoln and representtnp
no. not the money power. but the interests of
the masses, would have signed the bill. al
though college professors might have stig-
matized him as a raiI-spltter"
concerning the future of the silver move
ment- MI Bland said: at is evident that
under the single gold standard nothing can
be done on the currency question without
consulting the few people who own the gold
the veto OF this bill.
Inc hight from now on will be whether
Ine people OF this country shall control the
currency by permitting gold and silver to
come 10 the mints free. and thus supplying
themselves with constitutional money or
whether We are TO be mere slaves Of the
owners Of gold in Lombard street and Wall
street.
The day is fast approaching when the
peoples President will sign coinage bill
i intend to do everything in my power to
present to the President a free coinage bill
and let him exercise his rules of Lindley
Murray on that"
No More Bonds.
Mr.. Bryan Of Nebraska said that the
veto would stimulate the cause of free
silver. The friends Of silver" he said
who were deceived into voting for the
repeal OF the Sherman law will be anxious
to put themselves right with the people
! believe that free coinage bill will pass
both houses of Congress-
What effect will the veto have on the
party?'
TN the states which gave more than two
elected
Mr.. Cleveland only six votes were cast In
the House and Senate against the setgn-
forage BILL This Is a significant fact The
question Is which is democratic the posi-
ton OF the states electng Mr.. Cleveland
or the position Of Mr.. Cleveland which Is
supported only by those states which gave
their votes to Mr.. Harrison?
MIR. Cleveland has raised question which
must cause trouble in the party until there
Is an absolute and definite settlement That
Is whether the government shall give the
option to demand gold to the holders Of
notes or whether that option shall be held
by the government. As long as by the
treasury construction the option Is given
to the holder OF the note no amount Of
bonds will protect the gold reserve As soon
as the principle Of bi-metalisrn is reJtorad
and the option exercised by the govern
ment there will no longer be need of
bonds''
DO you think this Congress will author
lie the issue of bonds?'
NO, sir, do not"
Predicting Trouble.
Mr.. Oates Of Alabama said that he great
" feared the consequence of the veto. 1T
means" he said. trouble. trouble, trouble.
row. row, endless row, the outcome CT
which no one can see"
Mr. Holman said that the political con-
sequences Of the veto would be very serious