Birmingham age-herald., 1895-02-17

Coming to the second part of il, he said that the true policy of the Unitfd States was bimetalism, meaning that silver and gold should be .ualutained the government reserved the right. the absolute, technical, logical right to pay it's debts in the aulhorizsd coin of tas country. That, he deciareo, was true biz metaliism-the maintenance of the gold standard and the maintenance of the siivt r standard--in other words, the maintenance of the double standard. The next ques- tiou, he said, was how shall we pay our bonded debt or our other depts?
 q believe that this is an important dec laration at this hour-the declaration that we believe in the double standard, that we believe in both gold and silver, and in the of both alike; but thet we reserve the absolute, legal right to pay our bonded and other debts in either coin, and that if itsnonld occur that there is any difference between the two, then we announce-not by schedule. but W @ pledge tho faith of the government as a matter of policy-that we will pay in the best coin in use.
 What is the contrary of the proposi- tion? Is it proposed to pay our indebted ness in depIeciated currency? Do you propose to foist depreciated silver currency on the creditors of the government if there should be difference in the coinage value of gold and silver? 1t may be said that Il is unwise to contemplate possi-
 
 1t may be raid that we ought not to assume the possibility Of our inability to maintain the two coins at their parity. We cannot, however, be bliod to tue signs of tho times. Private parties are now lending money and making discrimination as to the coin in which the debt is to be paid. It is likely that in a short time gold will be at pre- mium by reason of causes which 1t is now necessary to discuss. If that be so, where Is the senator who insists upon 1t that we shall not pay in the best money in use? ?- that we shall not tie ourselves, technically and strictly, to the precise language of the act, but that We shall maintain the credit and honor Of this country and pay our debts in the best money in use?
 'It does not involve the question whether does not involve the question of the Opan- ing of our hints to iBe unlimited coinage of silver. It avoids these questions. My resolution is safe, prudent and proper at tbls lime, when We are drifting apart. We are further apart, hear, than we were six weeks or two mouths ago. The suggestion of a gold band on one side is answered by the suggestion of the free coinage of eilyer on the other. The proposition Tor the re- tirement of the green backs is lost sight of. The duty which confronts us, l think, would be the retirement Of the green backs. There is the danger. There is the drain on the gold of the country. But that, 1t seems, Is i'm possible. We can, however, at least take tais step. We can at least assure the people of this country; we can assure those from whom ws have borrowed money in other countries, that, although we are so tied by oisagreementst that we cannot pass the bills which are suggested, we can at least say to them: Take our coin bonds. We will pay then in the best cur rency in the world.'
 "Ihis resolution of mine will do that. We gain nothing by trying to, wreck the government. Neither political party can gain anything by bringiu. on Financial panic and compelling us again in the sum- mer months to come back here to resume consideration of this question.
 ''l reiterate that believe it is the inn perative duty of congress to proceed to take steps to retire the greenback cur rency. Need l argue before this senate that that is one of tue principal difficulties thot new coniroats us7
 "Need l remind you that it is because of the existence of this greentank currency that the gold Is taken out of our treasury? The retirement Of the green backs is the step that we ought to take, but it is the step which, regret 10 say, it seems im- possible to take by reason of difficulties lhere, difficulties in the other house aud, possibly, difficulties of both houses with the president. But if that cannot be done, VIC can at least do these two things: We can declore that congress is not committed to gold alone; not committed to silver diOHSs put tudL we btaEQ where we SIOGu when we repealed tho purchasing clause of the Sherman. act; that we stand by bi- metallism, and that we will take steady steps toward the maintenance of that prn- cipe. Farther than that, we declare that ii our efforts shall fail by reason of any of these differences between the value of gold and silver coins, VIC will pay the debts of the government in the best money we use.'
 MT. Wolcott, ,srepu blican, Of Colorado, re- piled to the speech of Mir. Hill, which he characterized as ''threshing old straw.'' The house, he said, had Thursday disposed 50 far ns this sessicn was concerned-- of the subject of the issue on the Indorse- meat oi gold bonds. withstauding tue frantic efforts of an administration, with all it's power aud all it's patronage; not withstaDding the efforts of the leaders O | both parties, the house of representatives had, by q ceci i've vote, refused to sanction the policy outined aud approved by the resolution offered by tue senator from New York, so that the ssrator is quite out of date.
 MT. Wolcott asserted that no genuine bime ta Hist had voted for the repeal of the purchasing clause of the Sherman act, ex- cepting perhaps two or three, who had voted in the belief and In the shadow ot the hope that the promise given by the admin- istpation would be carried out, that the re- peal would be followed by some fair meas ure for the recog milton of silver. He felt no hesitation In stating now that not one of those senators, in view of he disasters of the last year and half, would, if it were to be done again, vote for the repeal of the Sherman act, bad'as that act was in principle aud practics. The class of bi- metallists, Mir. Wolcott added in a sneer- ing <oue, to which the senator from New York belongs is pimetallsm on gold basis. He wants to use the two metals, but he wants them measured by the value of pold He is q himetaIijst het.atIse he ia a gold mor ometallist. Measured by gold he ia willing that silver shall ba used to q lim- ited extent in place of paper. The presi- dents wantcn attack upon the credit of the United States has been the most disastrous occNreuce of this genera uon. It has been the most wan ton and criminal attack upon our country that could bs indulged in. Our nest was