Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-02-07

the st. Louis Merchants Exchange in
dorsing the Presidents message in re
gard 70 financial matters aud the is
sue of gold bonds. ask the indulg
ence of the Senate to say few word:
upon the subject.
'Mr. President, have the greatest
possible respect for the St. Louis
Merchants Exchange and for the opin'
ions and wishes OF the gentlemen who
constitute that body, but am unable
to meet their views in regard to the
recommendation in the President's
message. l don't think that the Mer-
chants Exchange of ST. Louis repre-
sents the Intelligent opinion of a ma
jority of the people of Missouri /
don't think that the members of the
Merchants Exchange have given prop
er consideration to the legitimate eff
feet of the recommendations which his
Excellency has made to Congress. /
don't believe that a majority of the
people of Missouri or of the United
States favor the retirement of $780,
000,O00 Of non-inter rest-bearing Treas
ury notes and the substitution of no
currency at all. don't believe tLat
they desire to retire these notes by
substituting gold obligation running
ming for so years, with interest in gold
payable each year to the amount of
$15, ,O00,O00 and an aggregate amount
of interest at the end of so years of
S75O.OO0, 900, making the price which
the people of the United States would
pay tor retiring these Treasury notes
81, 250, 100000 in gold.
cit is a selfish suggestion that the
principal and a large portion of this
interest is to be paid by posterity.
The obligations upon the Senate in
regard to posterity are as binding as in
regard to the present generation. We
legi5late not for ourselves alone, but
for those who come after us, and it
might just as we'll be said that we
could ignore the autonomy of the Gov
ernment as to future ages and leave to
our descendants a problem to be set
tied which might involve the country
in ali sorts of difficulties as to say, as
the President suggests. that we should
look alone to the present and let the
future take care of itself.
s.Mr. President, with great respect
to the ST. Louis Merchants Exchange,
I doubt their faculty as soothsayers in
regard to the finances. This same
to vote for the unconditional repeal of
the purchasing clause of the Sherman
act and stated that the repeal would
bring prosperity to this country and
that sunshine would illumine every
portion of the land. That repeal took
place unconditionaLly and what was
the result? So far from bringing pros
perity, 1t brought additional ad versity,
and the prophecy made by these f.
nanciers turned out to be a mere illu-
sion. the baseless fabric of d vision
1.-The Congress of the United States
IS now being assailed because we will
not put this country permanently upon
4 single gold standard basis and per-
petuate the national banks as banks of
The President of the
United States has Issued declaration
Of war against silver and he seeks now
I do not asperse his motives, but I |
speak of results-he seeks now to |
make those of US who do not believe |
n the single gold standard accessory |
20 the destruction of silver and the |
oerpetuity of the system to which he
s devOued.
lis it possible that intelligent men
believe that the President has not now
he power to secure all the gold that
5 necessary for the Treasury of the
United States, even upon his own the
,ry in regard to finance? The Secre-
ary of the Treasury openly avows,
md the President repeats In his mes
sage, that they need no money to pay /
he current expenses of the Govern
nent. There is, to quote the Presi- |
lent's own language. a comfortable
surplus of more than $50, 100, 900 in /
he treasury now to meet current ex-
,enses. They openly avow that they |
want gold to maintain the single gold
standard, and for no other purpose
And vel the impression is made upon
he country that unless Congress now
,ives additional legislation sufficient
power is refused the executive and the
Whole country will be involved in one
common ruin. Under the resumption
Ict, so-called. the President of the
United States had the power to issue
J and per cent. coin bonds, the lat
er to run 80 years. Those bonds can
,e made the basis of national bank cir
The President therefore,
las in his hands to-day all the power
necessary to secure the gold that he
nay think should be placed in the
Treasury of the country. Every intel
igent man knows that 4 per cent.
ponds running 80 years would be ideal
,onds for the national banks.
Every man knows that the nation
Il banks are interested, above every
hing else, in the single gold standard
md the perpetuity of their power to
ssue circulation.
.'If the President could not force US
when say 'us' / mean those of US
vho do not agree with him and believe
q bimetallism-to vote for gold bonds.
Ie would force us to become accessory
o the single gold standard and to his
nancial views.