The advocate., 1894-09-12

mAHkes price" 10 purchase gold and sill
Yer in order to pay che interest "in coin {"
10 the capitalists who now hold United
States stocks and treasury notes heretofore
issued, and that may hold notes and bonds
hereafter issued.
Samuel Hooper of Massachusetts,
IN the course Of his remarks, made
this statement:
lam opposed TO this amendment of the
senate that requires the interest on govern
ment notes and bonds to be absolutely paid
in coin, because ito effect GOtu be TO deprcctGte
these GS compared IUitb coin, by declaring them
IN GdUGnCe to be so deprecated. It creates
necessity for the government to obtain a
large amount Of coin BY purchase, it is not
receivedin taxes and loans, which holds out
an induCement to speculate on the necessity
Of the government, by collecting and
boarding the coin against the time that 10
will be required by the government TO pay
it's interest.
The sbsurdity of requiring the
government to buy gold IN a specu-
lstive market from the very men who
would hold the government bonds,
with which to pay the interest to
those men, led to the adoption of an
other amendment excepting the
greenback currency from payment of
duties on imports, thereby providing
for gold revenue with which TO pay
this interest; and with these two
amendments the bill finally became a
law.
We have gone thus far into details
in order to afford those who are not
already familiar with the subject a
fair understanding of it before treat
ing the particular point which Mr..
Dawes makes in his speeches. That
Mr.. Stevens did not favor the excep-
tions will be apparent from his re-
marks when the amendments were
under consideration in the house. He |
said:
I have very few words 10 say, approach
the subject With more depression Of spirit
than / ever before approached an. question.
No personal feeling or motive influences |
me. hope not, at least. have melan-
choly foreboding that We are about TO con-
summRte q Ounningly devised scheme
which will carry great injury and great |
loss to all GLASSES Of people throughout the
union except one. With my colleague, /
believe that no act Of legislation of this gov
ernment was ever hailed with as much de-
light throughout the length and breadth Of
this union, BY every GLASS of people, with
out exception, as bhe bill which we passed
and sent TO the senate. Congratulations
from all es-meFchants, traders, man
ufactuFers, mechanics and lRboPers-pJured
in upon us from all quarters. The boards
Of trade from Boston, New York, st. Louis,
Philadelphia, Cincinnati, Louisville, Chi
cago and Milwaukee sppoved It's provisions
and urged its prssage as il was. = Il
is true there was a doleful sound came up
from the Oaverns Of the bullion brokers and
the saloons Of the associated banks. Their
caahiers and agents were soon on the
ground. and persuaded the senate with but
little deliberatlon, TO mangle and destroy
what it had cost the house months TO digest,
consider and pass. They fell upon the bill
in hot haste, and so dis6gured and de-
formed IL that its very father would not
know il. Instead of being q bene6Oent
il is now positively mischieVous.
It has all the bad qualities which its enc
mica nhnPOaA uDon kha 0p;U;ual hill ard |