People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1895-02-21
REPLIES TO ATTACKS MADE ON HIN.
Mr. stewart Criticises the Bond Con-
tract and Declares There Is No Au.
thority in Law for the Transac-
tion-The Delaware Senator
Sharply Rebukes Congress
for Inaction.

'A0~OioAu udu TOLL OF
manuscript and a pile of books be.
fore him, ready to resume the finan.
clal debate where it was left off.
Mr.. Stewart 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 anv
cause whatever He spoke of the
humiliating 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 sen.
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
a 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 con-
slider that point later. Proceeding
with the 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 a scath-
ing denunciatlon. Having thus an
piled to congress-" continued Mr..
Gray, having thus presented the sit
uation to both branches of CONGRESS
in appeals almost pathetic in their
earnestness-the 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 10
the time of the contract Sl7, 600, 900
had been withdrawn and of this only
one-haif 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 S1O5, 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.
Right here l 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?"
Il have not said there was any
such law, replied Mr.. Gray. 81 know
of no such 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 say
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
sos, 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 MIR. Gray. suntil the sub.
treasurer at New York reported that
they could not hold out another day.
Then came the great question. Wa;
the country to go to silver basis be-
tween shutdown and sunup or was il
to secure the gold absolutely neces
sary to maintain the parity and ex
changeability between the tw,
metals? What would you hav,
said if the president had no
met that emergency and performed
his duty? Would we have heard sucl
animadversions, such as those of Sat
urday for not rescuing the country
from the grave crisis then presented
Action was imperative and quick &C
ton. 1t was to be done in the TWEEN
ty-four hours. What time was Their,
to advertise for bids for gold?"
Mr.. Gray forcibly urged the gravit,
of the condition which compelled
speedy action and an appeal to thost
who had the gold.
Mr.. Wolcott here came forward will
another question.
Does the senator know of any on
other than Russell Sage who ha
boarded gold?" Mr.. Wolcott asked.
Il do not" said Mr.. Gray. But
do not know Russell Sage or any o
his kind, and it would be no pleasur
if did,"
Mr.. Gray then urged support of tn
Hill resolution for paying in the bes
money in use.
Mr.. Gray declared that the real al
tacks on the credit of the countr
were not from the president, bu
from senator's who proclaime