Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-12-28
It is Further Debated in the House
Today.
SPEECHES FOR And AGAINST IT
The Measure Opposed by the Silver
Men,. y
THE CLOSING. ARGUMENTS

rule under which the House was operating
was to be taken at o'clock. The attend
ance was large.
MIR. BrOsius FnvOrs the Bill.
Mr.. Brosius Pa.) opened the debate in
favor of the bill.
This was the only country on the globe
he said, where gold redemption had neither
qualification nor Limitation. and where the
treasury was without the power to resist
the incursions of foreign gold grabbers or
domestic spectators. The revenue deficit
was the chief sinner in the comedy of
errors which had produced the present
troubles. 1t was not suitable to the dig
nifty of the government to employ the
sleuth hounds of foreign syndicates to hunt
down gold. The people of this country
should have the first opportunity to help
the treasury out of the trough of the fnan-
cial sea. He declared that there was no
politics in the bill. The President had ap-
pealed for Succor for distressed treas
ury and it was our duty to put aside party
eXpediency.
Mr. Parker IN. j. could not see how any
representative of the people could decline
to give the treasury authority to issue
debt certificates to supply temporary de-
ficiencies and to reduce the rate of interest
on any bonds issued to fortify the gold re-
serve.
Mr. McLaurin IS c. opposed the bill be-
cause it would increase the burden of
people already tax-ridden. and would tend
to legalize a series of usurpation of power
by the Secretary of the Treasury. If the
Secretary would use his discretion and re
teem notes in silver. the gold raids would
cease, and new hope would be infused into
the democratic party now crhshed by the
financial policy of the administration.
Mr.. CannOn's Earnest Advocacy.
Mr. Cannon Qll) in support " " III RE meas
ure, declared that it vas bin To maintain
specie payments, which had been resumed
under the wise direction of the republican
party in 1879 For the thirteen years fol-
lowing the resumption the revenues had
always exceeded the expenditures. Twelve
hundred millions of the Understanding
debt has bnen discharged. $1OO.0OO,0OO a
year. Since the election of Mr.. Cleveland
III 1892, he said, addressing the democratic
side, deficiency. distress. idleness and panic
had followed their footsteps. They had the
power to construct, and did not construct.
Instead of paying $1OO.OO.OUO a year on the
public debt, they had borrowed $162,MO.UD.
They could tear down and criticise. but
they could not build up the reserve Cepub-
lican applause). I'VE will not abridge the
power of the Secretary of the Treasury"
he concluded. I'VE will give him more
power. He cannot have too much power if
1t is used wisely. You. on the other side,
will vote against this bill: those in favor of
silver at 1G to l. because you want to i'm
pair the credi. of the country and force us
TO silver basis, those who support the
administration. because II wants gold bonds.
We, in our judgment and patriotism, stand
ready to pass this bill If it is rejected by
the Senate or the President we shall at
least have cast our mite toward the pro-
lection of the public credit, and have given
a prophecy of what we shall do when we
come into full power in 1891" Republican
arplause)
MIR. Bartletts View.
Mr.. Bartlett On. " announced his opin-
len that the passage of the pending bill, in
stead of strengthening the financial ability
and credit of the government. would lead
to further panic If he believed it was Of
fered as an honest measure of relief lie
would vote for it. but he did not. Although
he knew it was unpopular to say SO, he did
not hesitate to avow that he was for the
maintenance of the gold standard until
the powers of the world agreed to the COIN
age Of silver. So believing, he could fil,G
no relief in this bill. He even questioned
whether 3 per cent coin bonds could be
f1oated. Gold bonds was the only remedy.
Mr.. Tawney tMinn), member of the
ways and means committee, in support of
the bill. called attention to the Presidents
urgent appeal to Congress Ito do sonnet hing
before adjourning. He knew, and every
body knew. that gold bonds would not be
authorized by Congress, and because Con-
gress would not give him authority he and
his Secretary of the Treasury mad already
reopened negotiations with the same oil
malodorouS syndicate for another issue of 1
per cent bonds. The people of the coun-
try were to be given no opportunity to sub
scribe He read several letters from con-
stituents offering to subscribe gold for
bends.
The Silver Democrats.
Mr.. Bailey Texas), in outlining the atti-
tide of the silver democrats, said that they
had desired to offer as substitute for the
bill measure that would, in his opinion,
render the further sale of bonds unneces-
sary. AS plain business proposition the
treasury should coin the silver seignorage
That would furnish the treasury with SJ.,-
oOOOOO Of additional assets.
The most uncompromiSing advocate of
gold monometallism could not vote for it,
He argued that the bullion in the treasury
might safely be coined without disturbing
the parity between silver and gold The
advocates of the gold standard would ulti-
mately force the retirement of paper unless
its redemption in silver could be brought
about. Under the present policy tina dan-
ger always existed that the financial insti-
buttons of the country might combine to
coerce the treasury. Successive gold with
drawdls and bond issues might be. forced
until the public debt was increased 1nfi-
nitely.
In conclusion. he said it was a fortunate
thing for the trainers OF this measure that
it could not become a law.
Mr.. Marsh OLD arose to give his reasons
for refusing his support to the bill, but be-
fore he had finished his preliminary re
marks the gavel of the Speaker fell and the
House remained unenlightened.
In support of the Bill.
Mr. Burton (Mo) and Mr. Connolly OLD,
who had been counted on as opponents of
the bill, gave their support to it in brief
speeches. The latter said that if he had
been framing the bill he would have
changed the language of the bill so as to
make it read "in leu of the power now
given the Secretary of the Treasury, in
stead of lin addition to that power His
announcement that he had finally decided
to vote for the bill was greeted with re-
publican applause.
Mr. Hopkins Qll.) in support of the bill,
argued that there was no necessity for the
issue of gold bonds Time and the treas
urys experience with the last bond issue
had demonstrated this. The bonds sold
abroad had returned to this country. There
was ample gold here to supply the needs
of the treasury.
Mr. Payne On. " called attention to the
fact that the administration was already
preparing to issue $1On.O0OOO0 of thirty-year
four per cent bonds. This was the emer-
gency that this bill met by a reduction of
the interest.