The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-15

whose inspiration lasted longer than that
of the gentleman from Nebraska. (Mr.
Bryan.) Laughter
But it has been Il failure Ii always
will be a failure. We not only send our
property west, but we send our children
there and no man who crosses from East
to West can fail to BE- struck bv the fact
that there is after all unity of sentiment
between the two sections of the country
that no language will ever blot out or de-
stroy. The Southern and Northern Demo-
Gratis may not be able to live together. |
am glad they are not able to live together.
B,l~I say TO yott the Republicans OF the
East and of the West and of the North and
OF the South, have thus far found methods
OF living together and thcy will in the fu-
ture. Applause on the Republican side.
We are not through with our difficulty.
we have long months in front of us before
the period OF recuperation sets in. We
ought not to say anything or do anything
which will make that period of revival
longer in coming than it ought to be, |
therefore feel called upon for my part to re-
inforce the remarks SO ably made by my
friend, the gentleman from Illinois
(Cameron), as to what the Government
has done in the past with its bonds. The
bonds today ought to stand in the front
rank of national bonds, if honesty of
effort in payment of the same could count
for anything in the history of the country.
Gentlemen say we are at liberty to pay
these bonds in something else besides the
equivalent of of gold. Whether we are or
not, the fact remains that urged on by an
memorable law, we have thus far paid in
gold or its equivalent and every man in
this House believes we shall do so in the
future" Applause.
1t is not proposed, continued Mr.. Reed,
to reduce the rate OF interest provided in
this contract, provided we make the bonds
sold payable in gold" That word is
practically, there, now, as every one
agrees. This resolution does not involve
the establishment OF a policy; it is simply
action on a single proposition of the
Government. Some tell us it would gov
ern all future transactions, but he (Reed)
did not believe the Secretary of the Treas
ury would attempt another such contract
after his experience with this. The poll
cy OF redeeming our outstanding obliga-
tons in gold was established by Demo-
era tic administration.
Mr.. Reed called attention to the fact on
June %, 1890. Messrs. Wilson, Bynum,
Turner, Montgomery and Tarsney, all OF
whom would be found voting for the bill,
had voted for the free coinage of silver.
A great laugh convulsed the House as Mr..
Reed produced this record. The gentle
man from Maine frowned, however, and
tdlsclaimed any intention of raising
laugh.
81 simply mention this, he said, "to
show the constranng influence of those
in power" Laughter.
And every one who is now voting the
other way has been retired to private
life, shouted Mr.. Wheeler, Democrat of
Alabama. Renewed laughter.
"a nation credit is its stronghold"
concluded Mr.. Reed. Disasters may
happen-a Democratic administration
may occur-anything, in short may
happen, but the most important thing
always is to preserve the nation $ credit,
and therefore we should not let our indig-
nation at the terms of this contract swerve
us from our duty"
The debate was closed by Mr.. Wilson,
who admitted that the contract made by
the Secretary Of the Treasury contained
very hard terms for the Government, but
he believed those terms were the best that
could be obtained. But Congress could
by giving the Secretary of the Treasury
authority to write in the bond what the
contracting parties thought should be
there, although all agreed the bonds
would be redeemed in gold, save to the
taxpayers $500 600 year
In conclusion, Mr.. Wilson said no mat
ter how members might differ as to the
financial opinions and acts of the Secre-
tary, no one in the House who had known
him would dare to question his integrity
This statement was heartily applauded.
The Speakers gavel dropped. The hour
OF llVe nad arrived, and under the special
order the clerk proceeded to call the roll
on ordering the resolution to its third
reading.
The third reading of the resolution res
olution was refused 120 to 1877.
A cheer went up from the opponents of
the resolution as the result was announced.
Mr.. Bland moved to reconsider and Law
the, motion on the table, which was car
ried without division, and then, on mo-
ton of Mr.. Wilson, at 5 40 p. M the
House adjourned until II O'Clock to-
morrow.