The daily morning journal and courier., 1895-02-20

confronted the country"
 MT. Villas said that the announce ment of the entrance on negotiations for gold with a probability of success checked the withdrawals of gold from the treasury, and when the bond con tract was made the run on gold was stopped.
 MT. Aldrich, rep, of Rhode Island, presented a dispatch stating that the new bonds were being sold to-day in London at 113h plus commission,
 In the course of a colloquy MT. Aldrich with much impressiveness of manner said: q believe that $1,000,- 000,000 in United States bonds could be sold at 10 per cent. more than these bonds were sold for"
 MT. Villas replied: "There is no jus tification for the proposition that the market price is a particle above that which was obtained"
 "Do you think" MT. Aldrich asked, that 1t was necessary to pay pre- mium of $160OO,OOO on $62 2000,OOO of bonds?"
 Not the slightest doubt of it." MT Villas promptly answered. "And if the senator, instead of standing here to carp at a transaction already finished had put himself at one end of the Atlantic cable, as the secretary of the treasury did, and with the aid of the greatest bankers of New York, had cabled as the secretary did to every money market of the world trying, in every way possible, to get a reduc- tion of the rate of interest he would have had a different opinion as to the possibility of getting gold at such a price as he wanted"
 'If, as business man." MT. Aldrich remarked, "I had $S6, ,0OO,00O Of treasury notes in my treasury and if I desired to buy sixty-two millions of gold in Europe and could not secure that gold at less than 1 per cent discount I should feel like retiring from busi- ness"
 Tt is always a misfortune" said MT. Villas ironically, "that the ablest men in the world are not employed to discharge it's great transactions" Naughter.)
 After some further talk between the two senators in the same vein MT. Aldrich said that the secretary of the treasury could, with United States treasury notes, have obtained gold at less than 1 per cent. premium from the Bank of France, the Imperial Bank of Germany or the Bank of England.
 AIr Villas said under the circumstan- ces under which the bargain was made admitting of not a days delay-the secretary was not expected to see whether he could have saved a fraction of 1 per cent.
 MT. Villas remarked: q believe that we owe debt to the secretary of the treasury, the president and his cabinet for assuming under the conditions in which they were placed to take the action which they did, aware as they must have been that they would be held Up afterwards to every criticism and carping which partisanship can aim against them'
 MT. Villas criticised congress for it's failure to authorize a per cent. gold bond, and thus save $16,000, 900 to the country. Regarding MT Stetson being employed as counsel Mir. Villas explain ed that MT. Stetson was a member of the firm which was the regular legal ad- visers of the banking house of Morgan & Co.,, and his first connection with the contract was when he was called upon to overlook the legal sufficiency of the contract and to see that it was in ac- cordance with law. In conclusion MT. Villas said that the people of the United | States loved their honor as they prized | their liberty, and their sober judgment l never had tolerated and never would | tolerate the national reproach of the | least equivocation in dealing with the | nations creditors.
 MT. Villas spoke for nearly four hours | and commanded close attention all | his speech.
 MT. Squire rep, of Washington, had | the clerk read the act of June 25, 1878, declaring that all United States bonds | payable in coin should be paid in gold | or silver coin at the option of the gov This was an answer to MT. Villas argument,
 The conference report on the bill as to the time when income tax returns are to be made was to be presented | and agreed to. The debate on the sil- yer Ibill was continued by MT. Platt, rep, of Connecticut, who said that he should not enter into the Controversy over the wounded body of our national credit" He regarded the pending bill IS an indefensible measure, and did not believe it met the approval of any senator who earnestly desired the use 1f silver in the currency of the country. believed in it. It was not a measure.
 MT. Platt yielded for motion by MT. AIdrich to adjourn. The motion was 15, nays 92.
 MT. Frye asked MT. Jones whether, n view of the fact that there was ,arely a quorum present, he intended O try to keep senators in session to- light.
 MT. Jones said that he proposed to ave a vote on the bill at 10 o'clock. After some further talk Mir Jones sked unanimous consent that the vote e taken at o'clock tomorrow
 MT. Chandler, rep, of New Hamp- hire, objected. He said that it was ardly to be expected that such an inn ortant bill would be voted on without ome debate. He wanted Messrs. ones and Voorhees, to tell what the i'll meant. As all attempts to have an hour fixed pr taking the vote met with objection IF. Platt went on with his speech He ave it as his belief, in which he knew h; iao, oir+