New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-17
THE DEBATE IN DETAIL.

uv..,;rv,on Feb 16.-The session OF the SENATE
II sodav was opened with prayer by Lonoon Clergy
/ man the Rev. Dr. II. S. Lunn. genera eoi'or "
Il .-~ pa,.;au, ~ the Churches" He was accompa-
Mod nv the blind chaplain OF the Senate the rev
1r Milburn. by whom he was introduceo u '''
/ vice. president and several Senator'S
| Mr. Dubois Rep.. Idaho) presented resolutions
edopted at a meeting of Republicans from dineren'
| narts of Arizona declaring that the Repuphcahs
~ Arizona are "unequivocally in favor OF 'he in
| mediate admission Of Arizona as state.
| Mr.. Allen (Pop.. Neb) offered a resolution. which
mas agreed to- calling the Secretary of the Treas
| 49,, for information as to National banks which
have within the last ten years, acted as repositories
=, nnblic moneys; whether interest has been paid,
and the terms and conditions Of the contracts
| Mr.. Stewart Pop. New introduced bill to re-
store bimetallism 1t was read first tme us
/ second reading going over one day.
/ The concurrent resolution heretofore offered by
Mr. Hill Dem.. y. V. declaring it to be the sense
Of Congress that the policy Of the Government re-
pures that its efforts be steadily directed 10 'he
establishment OF safe system OF b'metaii,sm
| wherein gold and silver may be maintained AT
| parity laid before the Senate.
l Mr. Sherman (Rep. Ohio offered a SUBSTITUTE de-
rlarng II TO be the established policy of the United
| States to maintain gold and silver coin at parity
according to their coinage ratio and that II at any
| time silver coin could not be at a parity with gold
coin. the bonds of the United States now or here
| after issued which by their terms payable IN
| Coin shall be paid in gold coin.
/ Mr. WOlcott tRep. COLI moved tne vi
| both resolutions to the Committee on Finance
THE SPEECH OF MR.. HILL
| Mr. Hill said that desired say few words
| IN support OF the resolution. which was of such
| b nature that 1t ought to be approved by every
/ member OF the body. He assumed that nearly
! every Senator bimetallist in the popular
sense OF the term. and that therefore his resolu-
;on embodied their views. He excepted. OF course.
| some who might be gold monomeallists or silver
II MOI The resolution "A safe m
Il servative and appropriate resolution this time.
The first part OF II announced the true policy OF the
l Government, which was In word, that its efforts
/ should be steadily directed toward the policy OF
| the establishment OF bmetasm He recalled
the attention OF the Senate the act which repealed
/ the purchasing clause OF the Sherman LAW and
which declared that 1t the duty OF the Govern
nent 10 pursue steadily the steps toward the main
1 tenance OF bimetallism. He appealed TO the true
friends OF both silver and gold. to the men who de-
sired the double standard. To those who said that
d Il impossible 10 maintain the double standard
in this country he had nothing 10 say. He be-
heved that it possible 10 maintain 1t. 1t per
4 haps could not be maintained at all times and at
all hours in exact precision. 1t might take prep
4 eration 1t might require wise laws 1t might re-
Quire friendly Administration. He compared Mr..
\ ohermans substitute with his own resolution, pre-
4 1erring the latter. He said that he preferred TO
a'o'o all details at this time, and therefore he
thousht II wiser to declare simply in this financial
crs'S "nae the true. policy of the Government
should be.
HIS resolution did not express any opinion upon
the question OF the propriety OF issuing gold bonds
o. OF issuing coin bonds But he thought IL of the
most supreme importance. at this hour that Con-
| gress should inform the country and inform the
world we'll that the policy Of the United States
was not to maintain the single silver standard or
the single gold standard but the double standard
Ind he thought IL wise to make this declaration
| emphatic. brief and appropriate That was all he
desired TO say the first branch OF his proposi-
! ton. II he should take hour. he could not
l make II more plain
Coming TO the second part OF H. he said that the
\ true policy OF the United States bimetaism
meaning that silver and gold should be maintained
at parity, and meaning also that the Govern
ment reserved the right. the absolute. technical
logical right. to pay it's debts In the authorized
coin OF the country That. he declared was true
\ bimetallism- maintenance OF the gold standard
and the maintenance OF the silver standard; in
other words. the maintenance OF the double stand
L ard
HOW DEBTS SHOULD BE PAID.
II Inc next question was. "How shall we pay our
air Hill said
don,, , ,nour-tbe declaration that we believe In the
sivar Standard that we believe In both gold ana
anu ~ the OF both alike. but tnat we
and o,h .ne absolute legal right TO pay our bonded
Svaur fur that there is any difference between the
go. snen we announce. not by statute. but we
Continued o Eighth Page.