Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1895-02-23

/
not know Russell Sage or any Of his
kind. nor would II be pleasure u ]
did" Senator Gray then urged sup
port OF the Hin resolution for paying in
the best money in use. Replying TO
query by Senator Stewart. he replied: |
''rf we accepted the contentious OF the |
Nevada senator the United States |
would write on its bonds. These bonds |
payable In silver II silver is not at n |
discount"
Senator Hoar asked II II was decent
that the contract had been made so as
10 bring into question the good faith Of
the government
Senator Gray vigorously resented the
word decent" as part OF this Hire OF
attack on the president
Senator Hoar modified the query so
as 10 ask him whether II was reason
able" that this course should be taken.
Senator Gray declared that the real
attacks on the credit OF the country
were not from the president, but from
senators who proclaimed their criti-
clsms 20 the world. I'VE have been
dumb during this grave emergency"
said Senator Gray. 1--WE have left the
president to fight this battle alone for
the credit and honor OF the country and
the people will not forget that the
American congress deserted the presi-
dent IN the hour OF trial"
SHERMAN ON THE FLOOR.
Senator Sherman secured recognition
after brief attention 10 routine business
and took up the thread of financial de-
bate 'The real question" said he, lis.
| shall the government pay Its obligations
/ in gold or silver? | wish To point out.
said Senator Sherman. that Ina every
act, every loan, every sale Of bonds
since 1869 this government has demand
ed gold and now are we To refuse to
| pay these obligations In the same coin
we received for them? II this question
II fairly presented and understood by
the people. no honest man will say we
should pay In any other coin than that
we received"
Senator sherman read the law OF 1865
soIemnly pIedging the faith OF the gov
rrnment TO pay in coin. What coin, he
asked, was existing at that time and
what coin was meant by the lawmak-
ers? II was gold. which at that time
was the only standard coin Silver was
| not then standard coin. Gold was
the only possible coin IN contemplation
| AT that time.
Senator Sherman took up the AZ pei
cent bonds issued by Secretary Nor
rill and read the language that the pro
ceeds from them were 10 "he paid III
gold" The same provisions were made
as to the bonds issued by him asher
mani while secretary Of the treasury
To say that such bonds, for which golt
was received. should not be paid In gold
was not honest And let me say 4
the senator's" declared Senator Sher
man. earnestly, these bonds will nevel
be worth less than their value whei
they were sold. We VIII pay gold 70
them The people of the United State
. will resent II as dishonor II the Unite,
States is seeking 10 pay our obligation
in money OF less value than that whicl
we received
Senator Sherman turned his attention
!, 10 the president and secretary OF tn
= treasury. The senator from Dclawar
| (Gray)." said MIR. Sherman. seeks I
I, defend the president. But why shoul
!. this be necessary? The president In
= no power over the bonds. He has n
business with them. The secretary Q
the treasury Is the one authorized /
Issue the bonds or to conduct the ne
gotiations. The president has no NOR
power as To bonds thnn he has To s.
, IN the senator's seat In this chamber.
! Referring to the recent bond COZ
j tract, Senator Sherman said Il mu,
! say that | do not like 10 any 1t. for
have the highest personal regard e
q the integrity of the president. but
= must say that this last contract wa
8 most faulty for the United States. I
81 deliver the bonds at the rate give
was at least improvident. Within II
u next 30 years we would be able Ia r.
| Ia Mt h.s paI
E II interest we had bound ourselves
~ pay. The senator from Delaware ezra.
= had been solicitous as 10 the president
is getting gold, when" said Senator She
nan. there was no difficulty in gettiT
gold from London or Berlin"
And how" asked Senator Gray, "
gold 70 be gotten except by buying
81 with bonas9''
Senator Sherman said the manner
= getting IL was to get full value for OF
a bonds. There had been no trouble ov
~ previous bond contracts. Then the g
As cutive officers followed the usual ri
d and got full value for our bonds II
is the singular feature OF the last transa
ton was that bonds should sell at lOl
X. when they were worth In COMPARES
ge with other bonds iO2
OF Has the senator any market repoi
II 1 dSktu Se
mt ator Gray.
A. No" said Senator Sherman u
e does the senator know that 30-yo
m bonds are worth much more than the
~ previously on the market"
he Then said Senator Gray, the sc
Il. ator Is indulging in estimates and ge
In eral speculation He has no market
r. ports To establish the rates he quote,
10 Senator Sherman said the bond &C
IL tract. while improvident. would n
he ruin or break the United States. II
he reasonable proposition had been ma
ed 10 our people, they would have fou
OF gold 10 pay FOR them. We have the m
~ In New York. Boston. Philadelphia a
I'm Chicago. who, being applied 10. cot
I'D cover such bonds In gold at their Z
d. value. We have no need 10 look abroi
Senator Sherman closed by saying IN
m he had not intended any personal cri
ch cism OF the secretary OF the treasu
~ or president. They have made b
of bargain that Is all" said he, hut. bel
a bargain. we must live up to Il"
"a.
,w DAVIS WILL CONTEST REoPENE
To / RI. E,nr.,,,., fn.r, af Ann,.n. al,