Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-02-21
GRAY OF DELAWARE DEFENDS
THE PRESIDENT.
REPLIES TO ATTACKS MADE on HIM
Mr.. Stewart CrIticIses the Bond Con-
tract and Declares There is No Au-
thorlty In Law for the TRANSACT
tIon-The Delaware Senator
Sharply Rebukes Congress
for InactIon.

N~NASNAA1AOAA
cial question and the personal criti-
cisms of the president Saturday, Mr..
Villas of Wisconsin had roll of
manuscript and a pile of books be-
fore him, ready to resume the finan-
cial debate where it was left of.
Mr.. Stawart of Nevada was the first
to continue the criticism of the bond
contract by calling up his resolution
declaring that the government had
no legal authority to buy gold coin in
preference to silver coin for any
cause whatever. He spoke of the
hunliliating position of the United
States in being held by the throat by
a gold commission, which had the
power to "coerce and squeeze" the
country up to next October, when the
contract expired.
Mr.. Gray of Delaware, who is rec
ognized as close to the administra-
ton, expressed surprise that the sem
ators from Massachusetts, Lodge, and
Colorado, Wolcott and Teller, had
gone so far out of their way to in
dulge in violent assault upon the
executive. The president had per-
formed duty incumbent on him by
stating that the law was such that
any evasion of it would have been
plain dereliction of duty. Con-
gress had made this law. 1t
made it necessary to maintain
the parity between the metals
by redeeming in either. No sooner
had congress assembled than the
president applied to it concerning the
financial conditions. A bill was
formed on the lines suggested in that
message, and the house saw fit to re-
ject it Again the president applied
to congress. Mr.. Gray read from the
presidents message urging patriotic
and bipartisan action to meet the
emergency.
"Does the senator think" inter
jected Mr.. Stewart, that the presi-
dent has re-established confidence in
affairs by hiring the assistance of a
foreign syndicate?"
CONGRESS SHARPLY REBUKED.
Mr.. Gray said.he would fully oon-
slider that point later. Proceeding
with presidents message, he read
the specific statement that the law
did not provide for bonds payable in
gold. At that time Mr.. Lodge had
not complained of the condition clear.
ly set forth by the president, but had
waited until now to present scath-
ing denunciatlon. Having thus APP
piled to congress-" continued Mr..
Gray, ''having thus presented the sit
alton 70 hAfh hv-av al, -
lin appeals almost pathetic in their
earnestness-th president was left
alone to struggle with the condition
and to meet it."
The senator told of the tremendous
drains of gold from the treasury,
running up to $1,000, 900 in one week
shortly before this contract was
made. From December l last up to
the time of the contract S17, 600, 900
had been withdrawn and of this only
one-half was exported, showing that
the other half was boarded at home.
HAS the senator lost sight of the
fact, asked Mr.. Wolcott, "that the
secretary of the treasury has reported
to us that he had used SOS, 900, 900 of
that gold for current expenses?"
This did not divert Mr.. Gray from
his line of argument as to the gold
Withdrawals for export and for hoard
ing at home.
Fright here 1 want to ask" said
Mr.. PETER, lis there any law which
compels the secretary of the treasury
to pay demand notes in gold instead
of in silver?"
81 have not said there was any
such law, replied Mr.. Gray. II know
Of no sach law But the obligation
to maintain the parity between
metals makes it absolutely incum-
bent to treat these metals equally"
Mr.. Hill rose at this point to saw
that the question of Mr. Wolcott
should not go unanswered. The Sec
rotary of the treasury had not re-
ported to the senate that he had used
$105, 900, 900 of the gold for current ex-
penses
Mr.. Teller wanted to read the sec
retary's report, but Mr.. Gray would
not yield.
'And this drain of gold continued"
resumed Mr.. Gray until the sub
treasurer at New York reported that
they could not hold out another day.
Then came the great question. Was
the country to go to silver basis be-
tween shutdown and sunup or was it
to secure the gold absolutely neces-
sary to maintain the parity and ex-
changeability between the two
metals? What would you have
said II the president had not
met that emergency and performed
his duty? Would we have heard such
animadversions, such as those of Sat
urday for not rescuing the country
from the grave crisis then presented?
Action was imperative and quick ac-
ton. 1t was to be done in the TWEEN
ty-four hours. What time was there
to advertise for bids for gold?"
Mr.. Gray forcibly urged the gravity
of the condition which compelled
speedy action and an appeal to those
who had the gold.
Mr.. Wolcott here came forward with
another question.
Does the senator know of any one
other than Russell Sage who has
boarded gold2'' Mr.. Wolcott asked.
81 do not" said Mr.. Gray. fBut
do not know Russell Sage or any Of
his kind, and it would be no pleasure
II 1 did"
Mr.. Gray then urged support Of the
Hill resolution for paying in the best
money in use.
Mr.. Gray declared that the real at
tacks on the credit Of the country
were not from the president, but