St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-13
TELLER TALKED TAX
But With Populistic Prompt
tude Gravitated to Free
Coinage.
ADMINISTRATION SCORED
For Agitating Currency Re-
vision on a Gold
Basis.
STEWART AS A sILVERITF,
Eu1ogies to the Late Con-
gresham Shaw Delivered
in the House.

nouncement that Mr.. German would
urge senate solution for the currency
problem, and, although MIR. German
did not speak, the spectators were not
disappointed. Mr.. Teller took the IL.
come tax as text, but branched into a
comprehensive review of the present
conditions of the treasury and the
remedies demanded. He severely ar
raigned the administration for alarming
the country by agitation over the cur
rency bill. The senator urged that the
restoration of silver was the only effect
i've solution, but said he did not expect
this solution at the present time from
either of the great parties or from the
Populists. Senator Lodge ALSO addressed
the senate, urging that if the Demo
cratic majority would present measure
to raise revenue instead of currency
bill that could not pass, the minority
would assist in enacting it.
When the routine proceedings were
out of the way. Mr.. Cockrel called up
the urgent deficiency bill. The presid-
ing officer. Mr.. Harris, explained the
parliamentary situation coming over
from yesterday. Mr.. Hill had offered
an amendment to the item appropriate
ing funds for collecting the income
tax, so that the legality of the
tax would be referred to the courts.
The chair had ruled out the amend
ment on point of order. Mr..
| Hill appealed from the decision of the
chair, and Mr.. Morgan moved to Lay the
appeal on the table. In order to permit
senators to further discu SIS the income
| tax, Mr. Morgan agreed to withdraw
his motion, and this postponed vote on
Mr.. HIPS appeal.
Teller Speaks
Mr.. Teller (Rep., COLI then addressed
the senate in support of a continuance
of the income tax. He pointed to
the large treasury deficits, which had
been temporarily met by bond issues.
| The gold supply was down to 1000. 900
and was rapidly disappearing. Any
proposition to do away with the income
tax therefore should be accompanied by
plan 10 raise the revenues the gov
ernment required. Mr.. Teller gave it
as his opinion that the income tax
would become permanent. even though
! it was limited 10 five years by the pres
| ent law. He believed it was such an
equitable tax thai the people would in
| sist upon its continuance. Import
| duties could not be put so high
as to entirely keep out goods
And without these high duties,
there was certain to be deficit in rev.
| enue. 1t was essential, therefore, that
some middle course should be adopted,
| and the income tax was the most just
means of taking this course. MI.
| Teller spoke of the vain and fruiteSs
efforts of the executive branch of the
government TO do something to relieve
the present distress Of the government
and of the people," 1t shows, said the
senator. that the executive branch is in
the wtong hands.
Mr.. TELLER spoke causticaHy of the
scheme of banking coming from the
treasury department. He referred TO
the current reports that the bill had
been jotted Off in thirty minutes TO
stenographer. Il wish to show all due
respect to this BILL" said Mr.. Teller.
coming as it does from such high
sources, but if such measure came
from any senator or member. if it came
from any Populist. it would'be branded
as the height of lunacy."
Mr.. Teller declared that the currency
bill proposed to inaugurate the old
era of
wildcat Paper.
1t violated every principle of finance in
this country, or any other.
MIR. Teller ridicnled the talk about an
"elastic" and ''hexible' currency,
while banking corporations had charge
of the elasticity. There is abo ut six
weeks remaining to this congress-" said
Mr.. Teller. Now, does any person
seriously believe that revision of this
vast currency system can be accom-
pllshed in that time? Why, then, are con-
gress and the country stirred by these
frantic appeals from the treasury?''
| The senator argued that it was time
the executive authorities stopped what
he characterized as frantic demonstra-
| tons OF fright.
Nj. Teller examined in detail the BIZ
metallic system OF France. under which
that country now enjoyed absolute
tranquility.
Senator Hawley Osep.. Comm at this
point UNEXPECTED narr alive of hi per-
sonaI experiences in Paris on the night
before France raised the vast sum to
pay its war indemnity to Germany. Mr..
Teller argued at length to prove that
the low prices Of agricultural products
today were the direct result Of the de-
| monetiZation of silver, first by Ger
many, then by the United States, and,
| lastly, the Latin union. In every cOun-
| try which had kept its minis open to
| silver. prices of staple products had re-
manned absolutely stable during the
last twenty-five years. He cited as
| illustrations of that fact, India, Mexico,
| China and Japan. 1t has been charged.
said, that those who were
II favor of bimetallism were not
IL favor of sound money. But
sound money was to be
pre- served, he warned the senate it
would be preserved through the efforts
| of the so called silver nen.
Ii the gold basis was insisted upon it
would be found too narrow, and the
| time would come when an
Gyer-Essue OF Paper Money
could not he resisted. He described
| the growth Of socialism and anarchy in
| this country since the decentralization
| of silver; the bitterness that had grown
/ up between classes. This condition
| had been produced by legislation. Are
| we uow," he asked, Ito admit that we
| nave neither the wit nor wisdom to
| undo what we have tODtW
| Although his side was not charged
| with the responsibility OF the present
| situation, lie for one would join with his
! political adyersaries in any scheme of
| relief that appealed to his judgment.
| But lie had little hope when he saw the
| senate of the United States confronted
| with such situation supinely waiting
10 see what Europe would do.
It was deplorable and Disgrace