The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-31
THE COMMITTEE AT SEA.
UTTERLY HELPLESS TO AGREE
UPONA PLAN FOR RELIEF,
Mr.. Vest Opposes the RESOLUTIONS Of the St.
Louis Nj. rchsnts' Exchsnge-Mr. sher-
mans Views On the Currency.

nance Committee of the Senate would be
able to agree upon some measure of ttnan-
cial relief at the present session, such
hope was definitely dispelled in the course
of the discussion which broke out in the
Senate to-day. one OF the leading Demo-
cratic members OF that cOmmittee-Mr.
Vest, Of Missouri. in presenting resoiu-
tions of the St. Louis Merchants EX-
change, favoring legislation on the lines
of the Presidents recent message, took n
firm stand against any such legislation,
and expressed the opinion that the Mer-
chants Exchange had not given proper
consideration to the subject, and did not
represent the intelligent opinion of a
majority of the people of Missouri. He
declared that he would never vote to is
sue one bond for the purpose OF securing
gold in order that the country might re
main on single gold standard. And he
replied to a question as to whether the
Finance Committee would agree on a
plan. that there was not the slightest pos
sibillty of its doing so.
THINKS rHr COMMITTEE HELPLESS.
A leading Republican of the same COM
mittee-Air. Sherman. of OhiO-expressed
the same opinion, saying that the Com
mittee on Finance was utterly helpless
to deal with the question, and that the
best thing that the Senate could do would
be to discharge the committee from ITS
further consideration, take up the ques-
tion itself. and give the necessary relief TO
the country.
After the subject was dropped the Sen
ate proceeded TO the consideration OF eN-
ccutive business and having ratified the
japanese treaty. adjourned.
The financial bill was precipitated upon
the Senate at the very opening OF the
session After presenting the kilograms
and resolutions from the st. Louis Mer-
chants Exchange Mr.. Vest said;
Mr.. President: l have a very great re-
snect for the St. Louis Merchants EX-
change, and for the opinions and wishes
Of the gentlemen who constitute that
body. But I am unable 10 meet their
views I'm regard 10 the recommendations
I'm the Presidents message. | DO not
think that the Merchants Exchange OF
St. Louis represents the intelligent opin-
ion Of the majority of the people of Mis-
souri,. do not think that it's members
have given proper consideration 70 the
legitimate effect Of the recommendations
which his EXcellency has made TO Con
gress.
INV PEOPLE DON'T FAVOR IT.
"NTr. President, with great respect to the
people Of Missouri or OF the people OF lhe
United States favor the retirement OF
s5GoO00O 900 of non-interest bearing Treas
ury notes. and the substitution IN place
of them of no currency at all DO not
believe that they propose 30 fellre those
notes by substituting a gold obligation
running for fifty years, with interest IN
gold, payable every year, to the amount
OF Sl5O00000 and with an aSSregate
amount of interest at the end oil hily
years of $3.50 100000 in gold.
II Is a selfish suggestion that the pm,
cipaI. or a large part of it, is TO be paid
nv posterity The obiigations on thiS
Senate in regard to posterity are as pilu-
ing as they are in reference 10 the pres
emf generation. We legislate not loF our
selves alone, but for those VINO come
after US. And it might Just as wen pe
said that we can ignore the economy OF
the Government as to future ages "I'u
leave to our descendants problems 10 -
settled which might involve the country
I'm an sorts of difficulties as 20 say 'dS
the President suggests that we must
look alone to the present ana let lhe
future take care Of Itself
NOT soorH-AY rEo on FiNANcy.
Mr. President. with great respect to the
81 Louis Merchants Exchange, l dehy
their faculty as soOth-sayers III te6dtu
IN finance This same Merchants EA-
change telegraphed me To vote lot tHc
unconditional repeal of the putcndsih9
clause of the Sherman act, and said thdl
IT'S repeal would bring prosperity TO the
country. and that sunshine would again
,uunine the land. That repeal took place
Internationally. and what was the re-
s,,Ito So far from bringing prosperity II
brouoht additional adversely, ana the
nrophecy made by self-constituted HhaH
riers turned out to be a mere lllusloh-Ihe
baseless fabric of vision.
CRITICISED THE PRESIDENT.
Mr. President, the Congress Is no" pc
ina assailed because ii Will not put TINS
country permanently on a gOId stdhudlu
basis. and will not perpetuate the ma
tioual banks as banks OF clfculdllol Inc
President of the United states mas ISSueu
a uroclamation Of war against the silver
issue of the country, and he seeks no"
II do not speak OF his motives, but OF the
rcsults) TO make those OF us VINO do not
believe i'm a single gold standard acces-
sorv 10 the destruction or silver ana 10
the Derpetuation OF the system 10 "fIlch
he is devoted. Is IL possible that lhleHl-
gent men believe that the President mas
not now the power TO secure an the soiu
that is necessary for the Treasury OF the
limited States even on his own theory IN
Treasury openly avOws land the Presl-
dent repeats that they need no more
money to meet the current expenditures
of the Government.
'There is Oo use the Presidents own
language) "a comfortable balance OF $5j,-
10000 in the Treasury
They openly avow that they want gold
to maintain the single gold standard, and
for no other purpose.
And yet the impression Is made on
the country that unless Congress gives
additional legislation, power is taken
away from the Executive and the coun-
try will be involved In one common ruin.
HAS POWER TO SECURE GOLD.
"Mr. President. under the resumption
act (so-calledD the President OF the
United States has the power 10 issue IL
per cent. bonds or 4 per cent. bonds. the
latter to run thirty years. These bonds
can be made the basis OF national bank
circulation. And the President, there
fore. has In his hands to-day all the power
necessary 10 secure all the gold that he
may think should be put in the Treasury
of the country. Every intelligent man
knows that a per cent, running thirty
years. would be the ideal bond for the
national banks. Every one knows that
the national banks are interested exceed
ingly I'm a single gold standard and In the
perpetuation of their power for the issue
OF circulation. The President OF the
United States wishes 10 force us 20 be
an accessory TO the single gold standard
| wish 10 say, for one, that never-never
I'm e time OF profound peace-will | vote
A