The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-01-29
HOW They VIEW IT.
Leading Senators Express Opin-
ions on the Message.
Hill Approves It and WOlcott
Doesn't.
B RITONS LIKE 1T.
London Bankers Have Been Ex-
pecting 1t.
B RITONS LIKE 1T.
Say the Gold is Ready for All
Gold Bonds.

WASHINGTON, Jan. 29.-The presidents
message is the chief topic of converse
ton about the capital today.
1.-The adoption of the presidents plan,"
said Mr., Stewart Pop. Nev.,) means 20
cent wheat and cent cotton"
Senator Wolcott rep. Colo.,) said:
''The president speaks of sThe tyranny
of preconceived opinions" seeming to
overlook the fact that he makes himself
a proper subject of his own criticism.
Senator Jones Dem, Ark, silver
senator and z member of the finance
committee, did not apparently accept
the suggestion of gold bonds with favor
but said he would not undertake to say
what effect the message would have
either on the finance committee or the
senate.
Senator Sherman declined to speak of
it. saying that he supposed he would
have to give the document official con-
sideration at tomorrow's meeting of the
finance committee.
Senator Lodge-'What is the use?
Many of the recommendations are good,
but it is impossible to secure action"
Senator Teller-"It is easy 10 see that
the president is welded to the gold idea.
His bond is gold bond and would weld
the gold standard upon the country. 1t
is the bankers bond, which gives the
banks the absolute control of the fl
nances. There is nothing in it for silver.
Nor is there any possibilit of the adop.
tion of the plan in the senate"
Senator Dubois rep, Ida a)-"While
the president declares himself friend
of silver, he is endeavoring to prevent
anything being done for silver by pre-
pairing a message which would prevent
silver from ever becoming a part of the
money system"
Senator Villas Dem, Wis., expressed
the opinion that 'some action was nee
essary."
Senator Palmer said: "Since the presi-
dent has spoken, l see no pretext for
congress TO refuse to act"
Senator Hill endorsed the message
without apparent reservation, saying:
''Fhe president states the situation very
accurately. Permanent as we'll as tenn
porary relief should be granted at once.
l trust that there is good sense and
patriotism enough in the present con-
gress to not refuse consideration of this
subject The business interests of the
country desire and demand action, and
the Democratic party cannot afford to
antagOnize that sentiment"
Senator Voorhees,. chairman of the
finance committee, declined to discuss
the message.
OF COURSE THEY LIKE IT.
Plan to Add Half Billion to Our De bt
Suits New York.
New YORK, Jan. 29.-The presidents
message was eagerly read by the bank
ers and financiers of n ew York and their
approval of it was frankly and unequivo-
callv expressed. Frederick D. Tappen,
president of the Gallatin National bank,
and chairman Of the Clearing house Loan
committee, said:
II quite agree with all Mr.. Cleveland
says. The message is perfectly sound in
every respect. The matter has now been
placed squarely before congress, upon
whom the entire responsibility rests. II
they prove recreant to their trust they
will be held to account"
j. Edward Simmons, president of the
Fourth National bank, said:
81 approve of the message in every
way. 1t is just what might
have been expected from Mr..
Cleveland, absolutely sound in every
particular. The issue OF any of the
present United States bonds is a clumsy
way of obtaining relief for the easury,
because they are a premium bon and
not specifically payable, principal and
interest, in gold. European investors do
uOb ldfOI q 111SA UOnO. Europe
also believes we are going to a silver
basis and will not take our coin bonds.
The president is, therefore, right in say
ing that the coin bond would be difficult
to sell at fair price and his recon-
mendation that 50-year 3 per cent
gold bond should be issued is a
conclusions based on good, practical COM
mon sense. Having issued $1O0,O0O.OOO
of coin bonds already, all of which were
taken III this country, without having
afforded permanent relief to the treas
ury, it is now only right that the legisla-
tive body should assume the RESPONSE
bility of either averting or inviting dis
aster And congress cannot now shirk
its responsibility in the premises"
A. B. Hepburn, ex-comptroller of the
currency and president of the Third Ma
| tional bank, said: 81 approve of the
message most heartily. | think it is
good and sound and meets the situation
and if congress will adopt the presidents
advice, it will afford the needed relief. -
| George G. Williams, president of the
! Chemical National bank, in approving
! the message, said: 81 think the PRESIDENT
recommendations are excellent If his
suggestions are carried out by congress
| by an enactment of legislation, we shall
! get the relief needed. We need Just the
! remedies proposed"
! Dumont Clarke, president of the Amer
ican Exchange National bank, said: 81
| should expect it to be a useful measure
provided too large an amount of the
bonds were not foatcd at once. l fear
however, congress will not pass it."
George Nj. Hard, president of the
Chatham National bank, said: 81 think
| the presidents recommendation a wise
one Something of the kind must bt
| done and that soon."
William A Nash, president of the
Clearing house; Henry W. Cannon, ex