Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-16
Senator Hill Advocates His Resolu-
tion at Some Length.
SHOULD PAY IN THE BEST Coin
Mr.. WoIcott Makes a Sharp Reply.
Defending Silver.
ALTERS IN THE HOUS e

general editor of the Review of the Church
| es. leading English church review.
| Mr.. Dubois Qdaho) presented telegram
from Phoenix, AriZ., which attracted at
tention in view of the effort about to be
made to secure the admission of Arizona
and New Mexico to statehood. 1t recited
| that at a meeting of republicans Of Ari-
zona it was unanimously resolved that the
republican sentiment of the territory was
| "unequivocally III favor of the admission
| Of Arizona to statehood al the present ses-
| sion of Congress and republican Senators
| were requested to aid the bill for admis-
| sion.
| MIR Allen (Neb) presented a resolution,
| which was agreed to. calling on the Secre-
tary of the Treasury for a list of the ma
| tional banks which had been cepositor-
les of public funds during the last ten
years, the interest. terms of contract etc.
MIR. Hills Resolution.
Mr. Hills resolution, which announces
the policy of the government on bimetal-
lism and on payments Of gold obligations
in the best money available, then came up.
Mr. Sherman offered substitute de-
clGring that the policy Of the government
should be toward maintaining the parity
between the two metals, so that every dol-
lar coined should be equal to every other
dollar Should there be any disturbance In
the parity, then bonds shall be paid in
standard gold coin.
MI w tCOt-D moved 10 lay DOtn tu0
resolution and the substitute on the table
Mr.. Hill then took the floor to discuss the
resolution.
Mr.. Hin was accorded close attention as
he proceeded with great visor and earnest
ness.
This declaration Of the policy Of the
government should receive the support OF
every Senator" said Mr. Hill, unless there
sits about this circle a gold monometaliist or
silver monometallist. / have few words
for them. But assuming that Senator is
for bimetallism, then this declaration OF
policy embodes his views 1t is safe,wlse
and appropriate resolution for the present
emergency" Mr. Hill said the declaration
first announced as the true policy OF the
government that our efforts should Dc
turned toward the accomplishment of BIZ
metallism.
What Both Parties Profess.
Il need not remind both political parties
that this is what they profess he pro-
ceeded.
TT is not necessary to remind them that
they may not be honest in the professions
of their platforms. Both have soIemniy
declared in favor OF binleta liSm. He re-
fcrred to the tacit agreement when the
Sherman law was repealed that 1t was out
the initial move toward the establishment
of bimetallism. Men voted for it who be-
lieved in silver. because they regarded 1t
as a step toward the realization of their
views: But. said Mr. Hill he feared tnat
recent efforts toward financial legislation
were in the other direction. With the
crisis prevailing it was time to enunciate
our policy. This resolution contained no
expression as to an issue Of bonds. nothing
as to the redemption OF greenbackS. 1t
carefully and purposely avoided those en-
tangiing questions, and confined itself SIM
ply to a declaration as to the good faith
of the government.
''It is of supreme moment now," said
Mr.. HILL that We should declare to the
country and to the world that il is not our
policy to maintain the single gold standard
or the single standard Of silver"
Time to Declare rs to Debts.
1t was time to say clearly as to how our
debts would be paid. We now retain the
right to pay in either coin. But IL that
equality of the metals is disturbed. then We
pledge the faith OF the government that
we Will pay in the best money in use. He
hoped the time would never come when We
would have to pause and consider whether
we must pay in one coin or the other But
if that time came. either through the enlcr-
gency Of the treasury. or In gigantic com
binations OF capital at home or abroad.
then the faith Of the government would be
pledged, not by statute, but by this declara-
tory resolution. to pay our obhgations IN
the best money in use. If this was not
done, what was the converse OF the propo-
siticn?
Was II intended to pay in a deprecated
money in money that was not the best In
use? This was not declaration for silver
or gold but for the best. 1t might be said
that we should not anticipate an emer-
But" said Mr.. Hill. I'VE should not be
blind to the signs of the times. Already
lenders are ringing the requirement that
they must be paid in gold. 1t is possible
that in a short time gold may be at
premiunl If that time comes, then 1t is
for us to give assurance that the credit and
honor of the country shall be maintained
by paying in the best money in use"
Mr. Hill said that on general financial
questions Congress was further apart now
than it was six months ago. The PROPOSE
ton for gold bonds on one hand was met
by the proposition for unlimited silver COIN
age on the other hand. What had become
of the proposition to redeem the green
backs and the financial plans?
Congress Can Take One Step.
but in this condition of inaction." pro-
ceeded Mr. Hill. Congress can at least
take this one step that will assure the
world that although we may have our
hands tied on these various measures, our
bonds may be taken with the full assur-
ance that they would be paid by the best
money in use.
Mr.. Hill said there was prosrec; of fur
ther issues of bonds. Let MS. then, keep
down the interest What could either par
ty gain by inaction on this subject by
bringing on a panic the coming summer
and bringing Congress back to Washington
again for further legislation?
at this point Mr.. Hoar tMass) whispered
to Mr. Hill, and Mr.. Wolcott joculariy sug-
gested that il was to be hoped the Senate
would have the bereiit Of the conference.
Mr. Hear was visibiy irritated, and he
looked the pGoverhial daggers at Mr.. VOL
cott as he returned to his seat
M. Hear said he had suggested to Mr..
Hill In the financial emergency Of lSG? a
resolution Of this KIND had defined the pol
icy Of the government.
Resuniing, Mc. Hill spoke of greenbacks.
ami said silver men We're standing in their
own light In refusing TO take the Green-
backs out of our currency
But this question was not pressing. The
oue thing incumbent now was to sustain
the credit o. the government Mr. Hin
closed with an eloquent peroration for
maintaining the national honor. AT least,
we can say" said he. that this Congress
is not committed TO gold; that VIC VIII pro-
coed steadily toward the realization or b.
;.,etaliisrl: that We will maintain our M
tional honor and credit by paying our OBJ
IIgatiCns in the best money lii use"
MIR. WoIcott's Reply.
Mr. Wolcott tCol) followed, taulting
Mr.. Hill with protesting to deprccate the
waste Of time in the Senate and with then
bringing up the bond question Immediately