St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-17
STORM in SENATE.
Hills Financial Resolution
Stirs Up the Free Silver
Animals.
W0LCOTT WAS BRISTLM
With Sensationalism in De-
nunciation Of the Pres
ident.
HILL DEFENDS GROVER.
Teller ChapaeteriZeS the Bond
Issue as q MOnstpOuS
Fraud.

was brought on by Mr.. Hills advo-
cacy of his resolution defining the
policy of the government for bimet-
allism and for paying it's obligations
in the best money in use. The New
York senator spoke with his usual
vigor, and was closely followed in
his plan for sustaining the national
credit by a declaration of policy to
the world.
But Mr. Hills speech was merely
the warning note of the storm. He
was followed by Mr.. Wolcott, Of Col
orado, Mr.. Lodge, of Massachu-
setts, and later by Mr.. Teller, of
Colorado, in the most scathing de-
nunciation and arraignment of the
administration for it's recent bond
contract with the Rothschilds and
other foreign bankers. Mr.. VOL
colt made direct and personal
CRITICISM OF THE PRESIDENT.
Mr.. Lodge was more temperate,
but quite as severe in his personal
arraignment of the president, de-
claring that the recent bond con-
| tract was the blacklist act in the his
| tory of American finance Mr.. Teller
| added to the flood of criticism on
| the recent acts of the administra-
| tion
Mr.. Hill replied briefly and with a
| spirit. He declared that a futile
| effort was being made to arraign the
| present administration for it's ap-
peal to the Rothschilds, while, as a
matter of fact, former Republican
administrations had sold bonds to
these same foreign bankers. Mr.
Hill declared that the president and
the secretary of the treasury had Sc
cured the best terms possible. The
senator closed his speech by reading
the Associated Press cable from
Berlin, announcing the purpose of
Germany to convene another inter
national monetary conference. No
action was taken ON the Hill reso1u-
ton, and renewal of the financial
discussion is expected on Monday,
Mr.. Villas having already given
notice Of a speech. The rest of the
day was given to the agricultural
appropriation bill.
MIR. HILLS SPEECH.
When Mr.. Hill took the floor to dis
cuss the resolution, he was accorded
close attention as he proceeded with
great vigor and earnestness. This
declaration of the policy of the gov
eminent should receive the support
Of every SENATOR" said Mr.. Hill,
unless there sits about this circle. a
gold mono-metallist or silver mono
metallist. 1 have few words for
them. But assuming that a senator
is for bimetallism, then this declara-
ton of policy embodies his views.
1t is a safe, wise and appropriate
resolution for the present emer-
gency." Mr.. Hill said that the dec
Iaration first announced as the true
policy of the government that our
efforts should be turned toward the
accomplishment of bimetallism.
81 need not remind both political
parties that this is what they pro-
fess,'' he said. "It is of supreme mo-
ment that we should declare to the
country and to the world that it is
not our policy to maintain the single
gold standard or the single standard
of silver
Mr.. Hill said that on general finan-
cial questions, congress was further
apart now than it was six months
ago. The proposition for gold bonds
on one hand was met by the PROPOSE
ton for unlimited silver coinage on
the other hand. What had become
of the proposition to redeem the
greenbacks and the financial plans?
But in this condition of mac
tion," proceeded Mr.. Hill, congress
can at least take this one step that
will assure the world that, although
we have our hands tied on these
various measures, our bonds may
be taken with the full assurance
that they would be paid by the best
money in use" Mr.. Hill said there
was prospect of
FURTHER ISSUE OF BONDS.
Let us then keep down the interest.
What could either party gain by in
action on this subject, by bringing on
panic the coming summer and bringing
congress back to Washington again for
further Legislation.
Mr.. Hill closed with an eloquent pero-
ration for maintaining the national
honor "At least we can say" said
he, that this congress is not COM
mitted to gold; that we will proceed
steadily toward the realization of BIZ
metallisn; that we will maintain our
national honor and credit by paying our
obligations in the best money in use.''
WOLCOTT ARRAIGNS.
After Mr.. Hill concluded his remarks
in the senate today Mr.. Wolcott (Col0
rose to reply. In speech bristling
with sensationalism and denunciation
of the president for the recent bond
sale, he declared that he was in
formed by a resolution of New York
bank, that the bond syndicate would
never be compelled to pay more than 10
per cent of it's investments; that the
bonds it had bought at 104.5e were al
ready being sold for 112 and that there
was a great demand for them. The
president, he said had already at
tackled the governments credit. He
said that his message to congress con:
tanned a lying statement that he de-
tot, f1,o -,.if <Nf