The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-15
EACH TALKED FOR IN HOUR
4 Day in the House Devoted to
the Bond Issue
A QUESTION OF FINANCES
Wilson and Reed and Hopkins and
Bryan Argue the Question
Some Extracts From Tom Hoods Poems
Bearing Directly Upon the Subject
Under Discussion

Washington, Feb. 14.-The House to-
day adopted by vote of 152 to % the
special order reported by the Rules Com
mittee providing a day be devoted to de-
bate the bond resolution. The Speaker
announced that Wilson and Reed of the
Ways and Means in affirmative, and Hop
kins and Bryan in the negative, be per
mitted to control the four hours of time
allotted for debate (two hours each side)
and one hour to be given to a debate I'M
der the tive-minute rule
Mr. Hopkins (Rep. ILL.,, } said the reso-
luton was whether the Government at
this late day should by the extraordinary
methods of President Cleveland and his
Secretary of the Treasury change it's es-
tablished currency under the thirty five
years of Republican rule and make it's
bonds payable in gold. Why did not the
President, he asked, call the attention of
these foreign capitalists to the fact this
country had a settled policy? Applause.
If the statement Mr.. Wilson made had
been true that coin was really as good as
gold and meant the same thing, why had
not the President told the capitalists so?
II oppose this resolution" he con-
tinued, because it will, in my Judgment,
destroy the credit of the United States.
In the future it would be necessary to put
the word gold into every bond"
The bondholder was directly interested
in driving this country to a silver basis
and sending gold to premium. The
Rothschilds by this means could double
the value of their holdings. Secretary
y Folger had extended the vast sum of
$500, 000,0 4-per cent bonds at per cent
in the open sunlight before the American
people. Republican applause.
Even the loans of this administration
had before been made in the open market
with the American people in the light of
day. They had been made for ten years
at less than 8 per cent. Now there had
been a contract with foreign syndicate
by which the Government received $4,000
less than similar bonds were selling for in
the open market on the very day
the President had sent his contract to
Congress with the bride of SIG, 900, 600 to
get its consent. A secret loan was nego-
tiated for higher rates than any civilized
country was paying on its debt higher
even than bankrupt Egypt, little Norway
or any other country.
The PRESIDENT said the speaker,
'pcnned this message not from patriotic
purposes but for politics and that alone.
He wanted to throw the responsibility on
Congress of making this loan negotiated
by his former law partner.
II say for one" he asserted, land I
hope | speak for the entire Republican
side and the great mass of the Demo-
cratic party, that l cannot be made parti-
ceps criminis to this attempt of the Pres
ident to prostitute the financial standing
OF this great country"
Mr. Powers, Republican, of New York.
cent 10 tho clerks desk an amnndmaDt
providing that nothing in the resolution
should be construed as changing the
nYowed policy of the Government to pay
all its outstanding bonds in gold.
Mr. Hopkins then yielded to Mr.. Can
non, Republican, OF Illinois. He sketched
with biting sarcasm the attempts made
to pass legislation for the relief of the
Treasury, saying the Presidents last
message was responsible for the Springer
bill's second BIRTH" He denounced the
contract made by the Secretary of the
Treasury, and when he expressed the
opinion that had a Republican Secretary
OF the Treasury made that contract this
Democratic house would have impeached
him, the Republican side gave him round
after round of applause.
Mr.. Bryan was then recognized to con-
troll an hours time in opposition to the
resolution. He yielded fifteen minutes to
Mr.. Mcmillan, Democrat of Tennessee
who gave his reasons why he preferred at
IllS IlUl6 10 1OItSO tuc To
save the people $500, 900 a year in interest
charges. To doso would be to discrimin-
ate against those of our own people who
in the dark hour of their country's dis
tress took the Governments bonds and
kept the Governments obligations as
good as gold. These people,. or others
IKE them, will continue to keep their
countrys credit good and all the powers
of the earth or he'll cannot prevent it.
Mr.. Livingston, Democrat of Georgia,
created an amusing diversion by sending
to the clerks desk and having read
amid roars of laughter, some extracts
from Hood S poems:
"The golden ass or golden bull,
Was English John with his pockets full,
Then at war by land and water,
While beef and mutton and other meat
Were almost dear money to eat,
And farmers reaped golden harvests Of wheat
At the Lord knows whatper quarter"
And concluding with the well known
lines of the moral beginning:
"Gold, gold, nothing but gold,
Brightand yellow, hard and cold.
Heavy to get and light to hold
Hoarded and bartered, bought and sold"
Mr.. Simpson opposed the resolution in
a short speech.
Mr.. Bland, the silver advocate, took the
floor, and, in ringing sentences appealed
to the House not to surrender to the gold !
kings. If this resolution passed Mr.. |
Bland declared that the Government |
would forfeit its right to coin silver
Mr.. Hatch, Democrat, of Missouri, in |
five-minute speech, aroused the currency !
opponents of the resolution to great en-
thusiasm. He had but little time, he |
said, to explain why he was to be pail |
bearer at this financial funeral. In |
word, it was because the passage of the |
resolution would make every debtor in the i
United States pay his debt in gold. He |
read amid much demonstration, a letter
addressed by Ex-Governor Proctor Knott |
OF Kentucky to Senator Blackburn, Dem
ocrat, of Kentucky, in which Mr.. Knott
characterized the pending proposition
us the last insolent demand of the gold
ties.
Mr.. Bryan, Democrat, of Nebraska, made
n half-hour speech against the resolution
the passage of which, he began by saying,
would withdraw S65, 900, 900 from circula-
ton.
''The President of the United States -
he said SIS human being
"Oh, no, !" shouted Walker. Republican,
OF Massachusetts
The President is therefore liable to
err added Mr.. Bryan, not needing the
Interruption He has erred. The Dem
ocratc party owes him nothing. Demo-
cratic applause. 1t owes him only the
gratitude it would owe the guardian who
has squandered rich estate. He seeks
to inoculate his party with Republican
virus, that his party may die OF blood
poisoning. Democratic applause. But