The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-17

the credit Of this country, and in the next
breath he tells us that in a very short
time after this alleged secret contract has
| been made, the ceredit Of the country, in
stead of being impaired. has been in
creased. and the bonds, he tells us, are
about TO be sold in the market for from
1l5 to 12O And this is the attack that has
been made by the President of the United
States upon the credit OF the country.
| The credit OF the country has imme-
diately advanced, and its bonds are sell
Ing at a higher rate than they have been
In many years. Men may be blind TO the
s,gns Of the times If they have mind 10.
Men can shut their eyes. Without at this
time approving-because ii is not neces-
sary for me to express an opinion upon
the point-the details of this contract.
without approving some OF the sugges-
tons made i'm the message Of the Presi-
dent, ] am here TO say that the President
has undoubtedly endeavored TO do his
duty as he understood 1t. l am here to
say that the statement is unwarrantcd,
uniustified that the President has de-
sired or endeavored to give TO the syn
cate a higher rate of interest than he felt
obliged to do.
UNWORTHY or SENATORS.
Mr.. President, it is unworthy Of sem
ators upon this floor to make such an al
tack 1t is not necessary that / should
reply 10 it. Mr.. Cleveland has his faults;
but, sir, no senator has a right TO say
that he has deliberately gone to work
and given a higher rate of interest for
the bonds than he was compelled, or felt
constrained to do. 1t ought not TO have
been said. What do we know Of the
efforts that have been made, except as we
may learn them from some statements in
the public press, which may, or may
not be entirely reliable. pass over
such charges as substantially un-
worthy of notice. it Is suiiicient
for me that the President and the Secre-
tary Of the Treasury tell us that they
did their best, considering all the circum-
stances Of the case, and / am disposed
TO accept that statement I'm good faith.
Mr.. President, no prejudice can be
stirred up, and the senator who thinks
he can stir up prejudice against this Ad-
ministration simply because contract
has been made with the ROthschild5 is
mistaken. l am no defender OF the Roth-
schilds. but ] say the attitude Of Con-
gress has compelled the financial officer
of this Government TO make contract
with whoever has the money.
Is this the first time in the history
of the country that we have borrowed
money from the Rothschilds? No. The
records Of this Government show that
repeatedly, over and over again. Republ-
can administrations borrowed money
from the Rothschlds and from other
mouev-lenders of Europe. The attempt 10
stir up some prejudice among the people
because the Administration borrowed this
moncy, in London Is uncallcd for and un-
warranted.
At2 O'Clock the agricultural appropria-
ton bill was taken up, and Mr Teller
Rcp., ColD. availing himself of the liberal
rules of the Senate, began TO speak IN
reply TO Mr.. Hill. Mr. Hills resolution
sought Mr.. Teller said, to accomplish in
an Indirect manner what the House Of
Representatives had refused on two oc-
casions TO do For the past ninety days
there had been evidence Of an intention
TO put the country on gold basis, and
the Senator from New York appeared to
be party to that effort. There had
been an effort for several months 10 send
gold 10 a premium, and after that had
been reached TO demand the payment OF
Government obligations in gold. ~
SERIOUS INsINUATIoN.
He characterized the bond transaction
as one of the most scandalous that has
occurred in public affairs in fifty years,
and asserted that it is the first time in
the history of this country for right
to charge absolutely "a lack Of honesty on
the part of an Administration In dealing
with its financial affairs.
Mr. Teller said that the new bonds
should, and could have been, sold in this
country for 119 81, the figure which Secre-
tary Carlisle has stated as the value OF
four cent, thirtyyear bond. Conclud-
ing his speech, Mr. Teller said:
1T will not do, Mr.. President, to in
sist that the President Of the United
States and the Secretary of the Treas
ury have done the best they could. !
am not charging that the President Of
the United states has protited financially
by this transaction, or that the Secretary
Of the Treasury has done so. cannot
conceive what influence could have in
duced them in the contract. ] might at
tribute ii to anxiety on the part of the
Administration to put this country on
the principal of gold basis
The financial debate broke off here, and
the dry subject Of the agricultural ap-
propriation bill was taken up.
Without disposition of the bill, or Of
any amendment, the Senate, after a
short executive session, adjourned. at
3:25 till Monday at noon.
The lIOuse.
WASHINGTON, ID. c., Feb. 1G.-Gen-
eral debate on the naval appropriation
bill was closed to-day. Mr.. Washington
Dem, TENN, was the only opponent
of the increase Of the new navy in the
proposed bill, and this fact caused Mr..
Adams Rep., Pa TO express his surprise
that one of that name should be heard
utterng such sentiments on the floor
of the House. The passage OF the bill
as reported was advocated by Aiessrs.
Geissenheiner Dem., y. b., chairman or
the Committee on Naval Affairs; Mr..
Bartlett 0em., y. w. Mr.. Adams 0ep.,