Frederick citizen., 1895-02-22
Defended cleveland
Mr.. Villas Says the Presi-
dent Did His Best.

To Buy Gold by the Issue of Bonds
the Only Way Out Of the Finan-
ciaI Difficulty Nearing the End OF
the Finy.third Congress = Meas
ures Under Consideration.
Washington, Feb. 2o.-1ncluding to-
day there remains ten working days
for the SD congress to dispose OF the
business before it, and almost all this
time will be required to pass the gen.
eral appropriation bills. But two Oh
these bills have received the presi.
dents approval-the military academy
and the army.
The diplomatic and consular, Dis
trict of Columbia, pension, post-office.
and fortifications bills have passed
both houses and are in the hands of
conference committees. The agricul-
tural appropriation bill has also
passed both houses and will probably
be sent to conference to-day. The In
dian appropriation bill and the sun
dry civil bill have passed the house
and are on the senate calendar while
bill has been disposed of by the house
and is receiving the consideration Of
the senate appropriation committee.
The naval appropriation bill is now
before the house. with the probability
that 1t will receive final action there
to-day. The last of the general ap-
preparation bills-the general defcien-
cy-has not yet been reported to the
house.
The senate has yet to act on five
Of these bills, which will give an av-
erage OF little over two days to each
bill. Notwithstanding the limited
time there is very slight reason to
believe that any of them will fail for
this cause as they are as far ad-
vanced as usual at this period of short
sessions.
Congress Declined To Act.
Senator Villas dem. wis.) made Q
loEg, able and eloquent speech in the
senate yesterday in defense OF the
president of the United States and his
secretary of the treasury in the mat
ter of the sale OF sixty-tw0 millions
Of per cent. bonds for gold. The
speech was made on the bill before
the senate for the coinage of silver,
but had no reference whatever 20 that
bill. Mr.. Villas showed that the pres
ident had endeavored to get congress
to act upon the financial difficulties in
which the treasury had found itself
by the drainage Of gold; and that as
congress had declined to act, he had
to avail himself of the power which
the existing laws gave him, and to
buy gold by the issue of bonds. The
price obtained for the bonds, Mr.. Villas
contended, was the highest that could
be obtained under the circumstances;
or in other words, 3% per cent. was
the lowest rate of interest at which
the bonds would be taken by the great
banking houses which had been ap-
piled to.
In Gold Coin Only.
Three and flve-eighths per cent, had
been offered in all the great money
centres and had been refused: and all
because the bonds did not provide spe-
cifically for repayment in gold coin.
The people of the United States"
Mr.. Villas declared. In concluding his
speech, love their honor, as they prize
their liberty; and their sober judg-
ment never has tolerated and never
will tolerate the national reproach of
the least equivoca ton In dealing with
Its creditors. That gentleman never
lived, however high-bred honorable
and chivalrous. whose sense OF honor
was keener. higher, or more sensitive
than the public opinion Of the free
men of America"
Mr.. Villas spoke for nearly four
hours, and commanded close attention
all through his speech. When he took
his seat Mr.. Squire Gep., Wash) sent
to the clerks desk and had read the
act OF June 25. 1878. expressly declar-
ing that all United States bonds pay
able In coin should be paid in gold or
silver coin at the option of the gov
ernment.
That act. he said. was a full and
complete answer TO the entire argu-
ment of the senator from Wisconsin.
conference report on the bill as
TO the time when income tax returns
are to be made was presented and
explained by Mr. Vest and agreed to-
Nobody Believed in 1t.
The debate on the silver bill was
continued by Mr.. Platt (rep.. Conn.l.
who said that he should not enter
into the controversy over the wound
ed body Of our national credit" He
should not inquire who was RESPONSE
Bile for the wounds inflicted on the
national credit. He only desired 10
make some remarks on the pending
bill He regarded II as an indefensi-
BILE measure, and did not believe that
Il met the approval OF any senator who
earnestly desired the use of silver In
the currency of the country. Nobody
believed in It. 1t was not a practical
measure.
Mr. Platt yielded. at 6l5 D. m. to n
motion by Mr. Aldrlch (rep., r. ~
to adjourn. The motion was defeated
Yeas 10; nays 80.
Mr.. Frye (rep.. Me.) asked Mr.. Jones
whether. in view of the vote tust
taken-showing that there was barely
quorum present-he intended to try
and keep senators in session all night.
Mr.. Jones said that he would be glad
to have a vote on the bill, and hoped
TO have a vote on II to-day.
WIN Stay Out Six Weeks.