The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-01-30
THEBAD,BADSE
Vest and Wolcott Attack the
President and His Great
Financial Plan.
JOHN SHERMAN WAKES UP
No Rational Scheme to Restore
the Country's Credit Can
Become a Law.


WASHINGTON, Jan. 80, 1Ss5.-The SEN
ate was plunged into the midst Of a
financial debate Immediately after the
reading of the journal by the presenta-
ton of kilograms from Chicago bankers
and from the Merchants Exchange of
ST. Louis, asking the Senators from
Illinois and Missouri to aid the passage
OF the House bill to carry out the views
contained in the Presidents message.
The one from ST. Louis was presented
by Mr.. Vest Dem., Me.l, and he took
the opportunity of declaring himself to
be utterly and irrevocably opposed to
those views. He declared that the MEM
bers of the Merchants Exchange were
ignorant on the subject of finance and
did not represent either the people of
NJ ssouri or the people of the United
States. He announced his determination
never to vote in a time of peace for
the issue of a government bond for the
purpose of securing gold in order that
the country might remain on a single
gold standard. And he expressed his
poss ibility of the Finance Committee
agreeing upon any bill to be reported to
the Senate. Il will not,'' he explained
passionately, 'go with the President of
dhe United States in perpetuating the
single gold standard and in fastening on
the people of this country the national
banking system.
Elr. Wolcott (Rep., Col) commended
Mr.. Vests speech. and declared that
there was not a Senator standing for
silver today who had not back of him
loyal and devoted and united constitu-
ency.
SHERMAN VS.. WISE.
Mr.. Sherman (Rep., Ohio member
of the Finance Committee, made
speech declaring himself, as between the
two standards, in favor of the gold
standard, while he was, at the same time
in favor of the largest possible use of
silver short of the Generalization Of
gold.
Mr.. Sherman said. in a fervid and i'm
passioned style:-"I am bound to say
that the Finance Committee is utterly
helpless to deal with this vast question.
We are not allowed to propose to the
Senate measure of which we can ap-
prove, 6,nless there is attached to it a
proViaesn for the free coinage of silver
.sf'zs Finance Committee ought to be
discharged from the further considera-
ton of the question, as it is utterly un-
able to agree; and the Senate should take
it up and give the necessary relief"
A SILVER PLOT.
The silver Republicans in the Senate
have made all their plans to prevent
themselves from being the victims of
what they call snap judgment" It has
become apparent that little can be ex-
pected from the Senate in the way of
financial legislation, owing to the atti
tide of the silver men, and there is
an understanding that the effort is to
be made to engraft on an appropriation
bill some legislation looking to the re-
lief of the Treasury. This will probably
be made when the Sundry Civil bill is
under consideration. The friends of sill
yer, however. have a powerful ally in
the person of Mr.. Cockrell, Chairman
of the Appropriations Committee, and
he is expected to check any attempt to
authorize an issue of bonds in this man
ner.
The Chairman may, however, be out
voted, and, again, the effort may not
be made until the bill is under con-
sideration in the Senate. For the pur-
pose of watching things now on, the
silver Republicans have arranged a plan
whereby some one Of their number viii
remain in the Senate chamber constantly
while the Senate is in session, as
lookout for any scheme that is mimi
cal to silver Any such attempt will
be the signal for a struggle. Mr.. Teller
spoke with the authority of the silver
Republicans when he said today that they
would go to the extent Of defeating any
appropriation bill that contained a pro-
vision authorizing an issue of any kind
of bonds.