The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-17
SENATOR HILL ON FINANCE,
BE Supports His Resolution for a Double
Standard Of Currency,
SEVERAL SERIOUS CHARGES MADE
nv Senators Woloott. Lodge and Teller-lhe
Latter Intimate, Dishonesty on the Part
OF the eAdminlstrAtioB-Pro Proceedings
In tho House.

Cleveland and his Secretary of the Treas
ury came in for the principal snare OF at
fentlon In the discussion at to-day.s ses-
sion. A bomb was launched upon reso-
lution offered some days ago by MI. Inn
tDem.. y. NJ. declaring it to be the poll
g Of The Government to establish "a safe
fyetcn of bimetalHsm and to maintain
gold and silver at parity. and upon
substitute for it offered by Mr.. Sherman
Qtep.. ohio making 90 similar declara-
ton. except that 80 asserts that TO be
the best policy established by the Govern
mcnt of the United States. Mr.. Iiili made
an earnest and impdssiOncd speech IN
support OF bis resolution. stating that IT
was OF supreme Importance at TINS hour
that Congress should inform the country
and the world that the policy Of tho
United States was not TO maintain the
single gold standard or the single silver
standard, but the double standard, and
that II parity could not always be main
iaIned. the obligations of the Government
would be- paid ln the hest money IN use.
His speech was replied TO By Mr.. Vol
colt Gcp., COl). by whom 40 was de-
scribcd as "thrcehinE old straw" mas
much as the House had disposed ycster-
dav Of the subject Of the issue or endorse
AS q blmetalist upon a gold basis. ana
spoke Of the present bond contract with
The syndicate as "thc most disastrous
occurrence OF this generation and as
"a most Wanton. criminal and deliberate
attack upon tho credit of the country.
More of the same kind Of dCnuncidtlons
were INDUCED boo hy Senator Lodge u''p"
Mass.l. the syndicate agreement being
characterized boy him as "thc uIdckosi
contract ever made hy tho Government. l.'
Senator Teller 0tcp., Col) went sim
further I'm the same direction. saying that
II was "thc FIRST time m the history OF
the country that the people had a right
10 charge absolutely lack OF honesty
on the part of am Administration IN deal
ing with fits financial affairs"
Tho debate not only occupied the TWO
hours allowed for tho morning business.
but was carried on while the agricultural
appropriation bin was ostcnsihly before
the senate. The two resolutions having
had their fun time, under the rules, were
placed ON the calendar and for the re-
maindcr OF tho day some attention was
given 10 the agricultural bill. The cattle
snd meat inspection amendments were
agreed upon, with the understanding that
81 might Doe modified in conference, and
the other amendments went over without
action till Monday.
Mr.. HILLS SPEECH
I'm opening the debate upon the tnan-
Clal resolution Mr.. Hill said he assumed
that nearly every senator was a blmetal-
list in the proper sense of the term ana
that. therefore. his resolution embodied
their views He excepted, OF course some
who might be gold monOmetallists or sill
Ncr monome;allists. The resolution was
a safe. conservative and appropriate reso-
luton at this time. The first part Of 1t
announced the true policy of the Gov
prnmcnt. which was, I'm word, that the
efforts of the Government should lie
steadily directed toward the policy of the
establishment Of bimctalllsm. lie recalled
TO The attention of the Senate the ACT
which repealed the purchase clause OF the
sherman act. and which declared that 1t
was the duty of the Government to pur-
sue steadily steps towards the main
tcnance of bimctallism lie appealed 10
the true friends of both silver and gold.
TO the men who desired the double stand
ard: to those who said that 1t was im-
possible to maintain the double standard
In this country ne had nothing 10 say
lie believed that II was possible 10 main
tain It, ~. perhaps. could he maintained
at all times and ar AN hours. at exact
precision. II might take preparation II
mipht require wise laws Ii might re-
CulIt a lIltlNiA hNlllllltH H'l t'Nifli'
III DOUBLE STANDARD.
His resolution did not express any op-
position upon the question OF the propu-
ety of issuing gold bonds, or of issuing
coin bonds. But ne thought il OF tho
most supreme importance at this hour
that Congress should inform the country
and inform the world as well, that the
policy OF thc United States was no. TO
maintain the single silver standard, or
the single gold standard, but the double
standard. and he thought il wise TO make
this declaration emphatic. brief, and dp-
propriate.
That was all ne desired 90 say on the
fh-st branch of his proposition. Coming
To tho second part OF IT, ne said that the
true policy of the United States was
bi-merallism. meaning that silver and gold
should be maintained at parity, and
meaning also that the Government re-
served the right, the absolute, technical,
logical right TO pay its debts in the au-
thoriZed coin of the country. That he
declared was true hi-mctalism-the
maintenance OF the gold standard and
the maintenance of the silver standard,
in Other words. the maintenance of the
double standard.
The next question was, he said, How
shah we pay o. bonded debt or our
Oth0r UebiS. II btiltNt tudt tHlN ~ an
important declaration at this hour-the
declaration that we believe in the double
standard that We believe m both gold
and silver. and the use of both alike, but
that we reserve the absolute, regal right
10 pay our bonded and other debts IN
either coin, and tnat. n 10 should occur
that there Is any difference between the
two. then we announce not by statute,
but We pledge the faith Of the Govern
ment. as a matter Of policy. that we will
pay in the best coin In use.
GETTING FARTHER APART.
What is the contrary Of the PROPOSE
tiOn? Is IL proposed 10 pay our indebted
ness in a deprecated currency? DO you
propose to force deprecated silver curren-
cy on the creditors OF the Government If
there should be a difference in the COIN
age value OF gold and silver? 1t may be
said that IL Is unwise 10 contemplate a
Og failure to maintain BIZ
metalism. 1t may bc said that we ought
not 20 assume the possibility of our in
ability TO maintain the two coins at their
parity. We cannot. however. be blind to
the signs Of the times. Private parties
are now loaning money and making dis
elimination as to the coin In which the
debt is 10 be paid. 1T is likely that in a
short time gold will be at a premium by
reason OF causes which il IS not now ne
cessary 10 discuss. If that be so, where
1s the senator who insists upon II that
We shall not pay in the best money IN
use.
IL does not involve the question whether
the bonds are payable I'm gold or silver.
II does not involve the question OF the