The Portland daily press., 1895-02-19
GOLD BONDS.
Mr.. Reeds Recent Speech on that Question
No New Policy Invo Ived in the

Mr.. Reeds Recent Speech on that Question
No New Policy Involved in the
Change,
From the Congressional Record.
Mr.. Speaker, that doctrine of the union
Of the South and West has been preached
before, and by prophets whose inspira-
ton lasted longer than that of the gen.
tleman from Nebraska Mr.. Bryan But
1t has been a failure. It always will be
a failure. We Of the East not only send
our property West, but we send our
children there, and no man who crosses
from East to West can fail to he struck
by the fact that there is after all unity
OF sentiment between the two sections of
the country that no language will ever
blot out or destroy. Applause on the
RepuDll side.
The Southern and Northern Democrats
may not be able to live together. I am
glad they are not able to live together.
But say to you that the Repu blicans of
the East and of the Vest of the North
and of the South, have thus far found
some method of living together and they
will in the future. Applause on the
Republican side.
Now let me address, myself to the
comparatively small matter at hand.
II very often happens in the history of
this House for I have been here long
period of time and | have seen the rise
and fall of many patriots have Wit
messed periods of great emotion and
have noticed that it very often happens
in the history of this House and of this
I+country that events often have some
phases which seem to be very stirring
and striking and to portend tremen-
dous future, but which are not thought
OF much fortnight after the occur
renee.
l admit, however, the Importance in
many ways of the resolution before us,
but not OF the proceedings of this House
at this time. | wish the result were not
foregone conclusion. / wish that there
We're something more than language left
to US today. But that being all that
| there really is in doubt as the matter
will turn out, as gentlemen who hear me
we'll know, it seems to me very important
that whatever we say here will have a
tendency to strengthen the credit of the
government.
We are not through with our difficulty.
We have long months in front Of us be-
fore the period of regeneration sets in.
We ought not to say anything or do any
thing which will make that period of
revival longer in coming than 1t ought
so be. l therefore feel called upon, for
my part, to REINFORCE the remarks so
ably made by my friend. the'gentleman
the government has done in the past
with its bonds. It's bonds today ought
TO stand in the front rank of national
bonds, if hon esty of effort in payment Of
the same could count for anything in
the history of this world.
Gentlemen say that we are at liberty
to pay these bonds in sonnet ling else be-
sides the equivalent of gold. Whether
we are or not, the fact remains that,
urged on by an inexorable law, we have
4 thus far paid in gold or it's equivalent,
and every man in this House believes
that we shall do SO in the future. IA D.
| plause.
This does not iny any way initiate
against anybody's belief as to bimetal-
ism, whether international or national.
For men who are in favoro the free
coinage of silver are SO because they be
lIeve that free coinage of silver would
bring silver to a parity with gold.
Therefore all sides of this House, in par
ties which are recognized in thes govern
ment of the country are agreed as to the
result. And it is great pity that we
should be in condition so that anybody
could make any other charge. But dis.
eases Turk, ready to attack system
which has been weakened by other dis
ease, or by cold or exposure. man
may have i'll his body the germs of con-
sumption, and it may never strike him,
DcCauSG Ills syShclu Iudy U6VeF D6 reduced
to the point where it is possible that
such thing should happen.
Now, the trouble of our situation is
that our body polite, our government,
has been so reduced by two years sof
party rule of such character that our
expenses are not paidsby our income, and
that the government of the United
States is for the time being running be-
hind.
! Whatever severity of criticism is to be
bestowed upon the past, and this agree.
ment presented here for the inspection
of the House is of a piece, it seems to
me, with the government of this country
for the last two years.
1t may be that judge harshly. II
may be that this agreement is the result
of the unfortunate condition in which
the government was found. 1t may bt
that guilt attaches to this, except sc
far AS it is the result of causes which
never ought to have been set in motion.
However that may be, that contract il
not presented to us for approval or dis
approval; that Is responsibility the a.
ministration must bear. 1t cannot
thrust it on Congress- it is contract
made By the legitimate agent of the
government, AS my friend from New
| York says. / repeat that the agent of
the government has made contract.
Gentlemen who are opposed to this propo-
| slC1on now Defore the House say that he
had right to make it. | presume, there
fore, that he had. He has made it, and
it is not submitted to this House; but
there is a proposition submitted to this
House, which is that that money will be
furnished to us for the lower rate of in
terest provided that we put the word
gold" in our bonds. Now, that word
is there now by every body's understand
ing on both sides of this House and the
question is, What shall we do about it?
| If it were the esta blishment of a policy,
then it might be discussed from some
other of the standpoints that are present
ed today. But it is not the establish
ment of policy. 1t is the action of the
House OF Representatives upon single
transaction.
Gentlemen say that the result would
besthat the Secretary of the Treasury
will try other transactions of this kind
| upon the House and Senate in the future.
l do not believe, after the expression of
the American people upon that subject,
that he will do it again. l admit that
it is an unpleasant argument; but deny
that it is the esta blishment of any prin-
ciple whatever. I should say that the
gentlemen who are in favor of silver or
1 k