The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-02-21

day of the resumption of specie pay
ments, but said it would not be done if
we maintain confidence so that our cur
rency will be as good as gold.
Mr.. Hopkins Rep., Ill.) said that the
resolution was whether the government
at this late day should by the extraor-
binary methods of President Cleveland
and his secretary of the treasurer,
change its established policy under 80
years of Republican rule and make its
bonds payable in gold. "Why did not
ton of these foreign capitalists to the
fact that this country had settled
policy? (Applause.) If the statement
| Mr.. Wilson had made had been true,
that coin was really as good as gold in
the contract, and mean the same thing,
why had not the president told these
capitalists SOP"
Il oppose this resolution" he con-
tinued, because it will, in my judg-
ment, destroy the credit of the United
States. In the future it would be neces-
sary to put the word gold into every
bond.
"The bondholder was interested in driv-
ing this country TO silver basis and
sending gold to a premium. The Roths-
childs by this method could double the
value of their holdings. Secretary Fol
ger had extended the vast sum to $780,
100000, 4 per cent bonds at 3 per cent
in the open sunlight before the American
people. Republican applause) Even
the loans of this administration had been
made in the open market, with the Amer
lean people, in>the light of day. They had
been made for 10 years at less than 3
per cent. Now there has been contract
made with foreign syndicate by which
the government received $9,500,O0O less
than similar bonds would sell for OH the
open market the very same day the pres
ident sent his message to congress with
the bride of $16,000,000 to get its con-
sent. A secret loan was negotiated for
higher rates than any civilized country
was paying on it's debt, niger, even, than
bankrupt Egypt, little Norway or any
other country. s-.1
i, THE president" said the speaker,
penned this message not from patriotic
purposes, but for politics, and that alone.
He wanted to throw the responsibility
on congress of making this loan, nego-
tlated by his former law partner. ZAP
plause.)
Il say, for one" he asserted, "and I
hope l speak for the entire Republican
party and the great mass of the Demo
cratic party, that | cannot be made q
particeps criminis to this attempt of the
president to prostitute the financial stand
ing OF this great country"
MIR. Cox Oem., Tenn -"How does it
happen that by this contract this syndi-
cate will have an option of future bond
issues by the government
Mr.. Hopkins-"N Nobody but this svndi-
cate and the president can answer that"
loud applause)
Mr.. Powers Rep.) sent to the clerks
desk to be read an amendment providing
that nothing in the resolution had been
construed as changing the avowed policy
of the government to pay all it's outstand-
ing bonds in gold.
Mr.. Hopkins then yielded to Mr.. Can
non rep, Ills), who began by announc-
ing that he was in favor of maintaining
the credit of the government. He then
sketched, with biting sarcasm, the abor-
tive attempts made to pass legislation for
the relief of the treasury, saying that the
presidents last message was RESPONSE
bic for the Springer Second birth" He