The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-31
No HOPE Of AGREEMENT
The Senate Finance Committee
Will Not Report,
THE SENATE MUST ACT
Mr.. Vest Refuses 10 Vote for Any
Gold Bonds. His Sharp
Speech. MIR. Sherman
Acknowledges Inabil-
itY. The House.
Bv southern Associeted rrear.

WAsHISGToN, January 30-SEN.
hrE-lf there had been any linger.
ing hope lett that the Finance Com.
mlttee OF the Senate would be able
TO agree upon some measure Of fuau
! cial rellet ut The present session, such
hope was definitely V dispelled in the
course of the discussion which broke
out immediately after the reading of
the journal to day. One Of tho lead
ing Democratic members OF that
committee, Mir. Vest, In presenting
resolutions OF the St. Louis hIer.
chants Exchange, favoring legisla.
tion on the lines of the Presidents
message, took firm stand against
any such legislation aud expressed
the opinion that the Merchants Fix
change had not gwen proper con.
aideration TO the subject aud did not
represent the iuteiligent opinion of
IL majority Of the people OF Mis.
souri,.
He declared that he would never
vote TO issue one bond for the
purpose OF securing gold, in order
that the country might remain on "A
sing 10 gold standard. And he re
Piled, To u question as to whether
tue Finance Committee would agree
upon plan, that there WAS not the
slightest possibility of it doing so.
A leading Republican OF the same
committee = MIR. Sherman = ex.
| pressed the same opinion, saving that
The Committee on Finance was ut
terIy helpless to deal with the Ques-
ton, and tnat the best thing the
Senate could do would be to dis.
charge the committee from its fur.
iher constellation, take up the sub
Iect itself aud give necessary relief
10 the country.
The Senate proceeded to the con-
sideration OF executive business and,
having ratified the japanese treaty,
adjourned at 30 p. m.
The financial debate was precipi-
tated upon the Senate at the very
opening of the session. After pre-.
seniing the kilograms and resolu-
tons from the St. Louis Merchants
Exchange, Mr.. Vest said:
"Mr. President: L have yerv
great respect for the ST. Louis Mer
chants Exchange and for tine
| "At "iSHcs VI Tue gentle
meu who constitute that body. But
am unable TO meet their Views IN
regard to the recommendations in
The President message. | do not
think that the Merchants EXCHANGE
OF st Louis represents the iutelli
gent opinion OF the majority OF the
People of Missouri. ! do not think
lis members have given the prouer
consideration to the effect of the
recommendations In His EX.
cellency's proclamation to Congress.
ut Is q selfish suggestion that the
prlucipa! part Of 1t Is to be paid by
Posterity. The obligations on this
senate III regard TO posterity are rs
Dlhuing MS they are to the present
generation. We legislnte not Tor
ourselves alone, but those who come
alter rs. And it might Just as well
be said that We cnn ignore tie au.
ton0my of the government MS TO
inturc ages and leave to our de-
sccndants problems TO be settled
which might involve the country III
all sorts of difficulties as to say (as
me fresident suggests) that we
must look alone to the present and
! lei the lnture take care of itself.
"Mr. PRESIDENT, with great re.
spect 10 the st. Louis Merchants
Exchange, | deny their faculty as
sooti!sayers Ill regard to finance.
"Iho Congress Is now being as.
sailed because 1t Will not put this
country permanently on gold
standard basis, and will not perpet.
uate the national banks MS banks of
circulation. The president of the
| United States has issned procIa.
nation Of war agsinsi the silver ls
sue OF bonds, and he seeks uowI
do not speak Of hls motives. but OF
| the resuito) TO make those of us who
40 not believe III single gold stand
ard accessory to the destruction of
silver and TO the perpetuation of the
| system TO which he Is devoted.
lis 1t possible that Intelligent
men believe believe that the Presl-
dent has not now the power to Sc
cure all the gold necessary for the
treasury, even on his own theory IN
regard to finance? Tho Secretary
OF the treasury openly avows (and
| tho President repeats) that they
neod no moro money to meet the
currency expenditures OF the gov
ernment. Yet the Impression is made
on the country that unless Congress
gives additional legislation power is
taken away from tho executive, aud
the country Will be involved in one
common ruin.
MIR. President, under the re.
sumption act $50 called) the Presi.
dent of the United States has the
power to issue IL per cent. bonds or