St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-12-29

sea. He declared that there was no
politics in the bill.
Mr.. Parker (Rep., N. J) favored the
bill as good business measure.
Mr.. McLauran Dem., S. Co opposed
it because .sit7 would increase the bur-
den of a people already taxridden and
would tend to legalize a series of usur-
patton of power by the secretary Of
the treasury. If the secretary would
use his discretion and redeem notes in
silver, the gold raids would cease, and
new hope would be infused into the
Democratic party, now crushed by the
financial policy Of the administration.
Mr.. Cannon Rep, Ill) in support Of
the measure declared that it was bill
to maintain specie payments which had
been resumed under the wise direction
of the Republican party in 1879. For
the thirteen years following the re-
sumption the revenues had always eX-
ceeded the expenditures. Twelve hum
dred millions Of the interest-paying
debt had been discharged. Since Mr..
Cleveland's s election in 1892, deficiency,
distress, idleness and panic had fol-
lowed. Instead Of paying $100,000,000 a
year on the public debt, the Democrats
had borrowed $162,O00,OOO. They could
tear down and criticise, but they could
not build up and restore. (Republican
applause).
1--WE will not abridge the power of
the secretary" he concluded. eve will
give him more power. He cannot have
too much power, if it is used wisely.
You, on the other side, will vote against
this bill-those in favor of silver at 16
to 1, because you want to impair the
credit of the country and force us to
silver basis; those who support the ad-
ministration, because it wants gold
bonds. We, in our judgment and pa
triotism, stand ready to pass this bill.
If it is rejected by the senate or the
president we shall at least have cast
our mite toward the protection OF the
public credit, and have given prophesy
full power in 1897" Republican ap-
plause).
BARTLETT OPPOSES.
Mr.. Bartlett (Dem., N. Y.) announced
his opinion that the passage of the
pending bill, instead of Strengthening
the financial ability and credit of the
government, would lead to further pam
ic. and aVoWed that he was for the
maintenance of the gold standard un-
til the powers of the world agreed to
the coinage of silver.
Mr.. TaWney Rep., Minn.), member
of the ways and means committee, in
support of the bill, called attention to
the presidents urgent appeal to con-
sress to do something "before adjourn
ing" He knew, and everybody knew,
that gold bonds would not be author
lied by congress, and because congress
would not give him authority, he and
his secretary of the treasury had al
ready reopened negotiations, with the
same old malodorous syndicate, for an
other issue of 4 per cent bonds. The
people of the country were to be given
no opportunity to subscribe. He read
several letters from constituents offer
ing to subscribe for gold bonds. Mr..
Tawney charged the, whole of the
present financial trouble to the opera
ton of the Wilson mongrel tariff, and
in defending the ways and means COM
mittee for not reporting protective
BILL said: 'In the ordinary course of
events, such a bill could not possibly
become a law in time to relieve the
emergency of the treasury" Mr.. Taw-
ney spoke for ten minutes. He deliv-
cred an eloquent address and was list
ened to attentively by large audience
on the floor and in the galleries. He
quoted from letters which he had re-
ceiyed from Hon. G.. F. +Greening, Of
Grand Meadow, and Charles Crandall,
of Owatonna, asking for an enactment
of such proposition as is contained in
the bill.
Mr.. Bailey Oem, Tex.), in outlining
the attitude of the silver Democrats,
said they had desired to offer as a SUBJ
stitute for the bill measure that
would, in his opinion, render the furth-
er sale of bonds unnecessary. AS a
plain business proposition, the treasury
should coin the silver seigniorage. That
would furnish the treasury $50, ,000, 900 of
additional assets. He argued that the
bullion in the treasury might safely be
coined without disturbing the parity be-
tween silver and gold. The advocates
of the gold standard would ultimately