New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-17
.ss declaration Of the Congress OF the Unl'ea

States are payable the best money no mai, ,s
creditors may demand know that the b eon'T S%e
to which the Senator from COLORADO 81 wbat be
ieve to be the cause OF sound finance II IS on IT., rs
aSs he OK the P" Tned
facts that our credit has been assai'ed py tne
| n syndicate OF bankers. giving them an undue ana
gigantic profit seems 10 me TO make IL oniy ,nops
should say; in language which cannot be misGn
that ns OF rs G paYaS they
5 to be issued p in sI the Or best oney
in gold II 1t should be demanded That Sir Is
! TEN OF currency OF bmetasm monometallism
1t is question OF the credit and good name OF the
/ credit has been impaired by the very men VINO
should have guarded it most acisdy ImPuatGns '
| mand notes and, say. If there ever was time
1869 should do it now. and state to all the worI
that the United States stands prepared to pay every
ever the creditors Of the tinted States may demand
hope we may have vote in the senate on 'h'I
should be CAD to see a vote on the financial meas
ures also should ike to see the Senate win OF
rency policy shall be. II there is a free silver ma
tority in the Senate the country has right TO TO
silver the country has a right to know IT, l think
United states on those questions is desirable but
the first thing above and beyond all others seems
ter what contracts the President may make no
matter what aspersions he may throw upon our coin
pay god on every obligation that 1t has out, whether
the demand be note in the form OF gre gree aSF
| time bond This is question above parry ana
ma.niaSns 's the high credit q the eoptnTy
before the Senate was one to change the nature OF
Character che acn.r of the ' bonds it had issued
M sa Ii nas no csasH had
brought to the surface the desire on the part of
some Senators to pay the debts OF the ned states
| in ell, In brIn
had accomplished portion OF the object for which
the n4 Sherman G act Mr. Hill said he believed when
the repeal was up as he believed now that that
s ts T that could be taken to advance the
bme tasm. Mr.. Hill said he had avoided the dis
| tives Of foreign bankers. because he did not think
It pertinent to the question at Issue ne did not
tract but If the President compelled to drive
s4d pssea to S Se
SO far as the Senate was concerned had Deen posi-,
| its control.
HILLS DEFENCE OF CLEVELAND.
Replying to Mr. Wolcotts attack on the Presi-
| dent. Mr. Hill said:
The Senator from Colorado has not addressed
| an elaborate attack on the President OF the United
States and the officers OF his Cabinet because OF
m Iss
s s because dd not regard the subject
But am not called upon to say at this time
whether that contract in all respects meets my APP
and elsewhere that the President OF the United
States should have done this ana ne sho nov haVe
issue bonds for a less term of years? Why did he
aD D the public forget that the President Of the
United States was hampered by an old statute that
ander Which hs could issue ' Sonds
make harsh bargain in behalf Of this country. It
IS because of the non-acton OF this Congress sup
and we have the spectacle here OF n Democratic
| Congress or 1t so until few days ago. as We
Mr. Gray dem Del)-The Senator does no; mean
to say that the Democrats have majority In this
Mr. Hil-we have not
Mr Mr. is ' se the right
speaking Of few days since ,h We o
this question until we found ourselves in minority
in this body Mr. President. there have been various
be amended that the President might have been
amend that law, Congress has kept the rresiden,
harsh bargain It is perhaps, because the situation
has compelled him to do ii At least this much is
Prop proper TO be said IN de'ence Oh the ''es''eN'
But Mr. President what do we hear We hear
in unmeasured terms. az having made an attack
the credit OF this country TRY ana hdrt IN ne ir
this alleged secret contract has been made the
been Increased. and the bonds. he tells us. are about
10 be sold in the market for from ll5 10 10 Ana
Pre- Of the Gnited states upon the credit Of
mediaeiy advanced. and It's bonds are selling at
higher rate than they have been in many long
Il they have mind TO- Men can shut their eyes
Without at this time approving-because It is not
point-the details of this contract. without approx
OF s the se President am here to say that the Pres
! dent has undoubtedly endeavored TO do his duty az
ment is unwarranted, unjustihed that the President
a higher OF interest than he felt Obliged 10 do
| THE PRESIDENT HAS HIS FAULTS.
Mr. President. It is unworthy OF Senators upon
this floor to make such attack. 1t Is not neces-
sary that should reply TO 1t. Mr.. Cleveland has
his faults but, sir. Senator has a right TO say
| that he has deliberately gone TO work and given
higher rate of interest for the bonds than he was
| compelled or felt constrained to do. 1t ought not
| to have been said What do We know Of the efforts
| that have been made except as we may CLEAN
them from some statements in the public press
| which may may not be entirely reliable?
| pass such charges substantially unworthy
Of notice. 1t f. sufficient for me that the President
and the Secretary OF the Treasury tell US that they
obtained the best terms possible under all the cir
Of the and IAN am dsPofd to aG
no prejudice can be stirred up. and the Senator VINO
hat ne spy s' ap has
made with the BohschIlds is mistaken b o an no
Of Congress has compelled the financial officer Of
| this Government to make n contract with whoever
| has the money. Should ne have gone out and made
| an appeal to the miners Of Colorado? Would they
have furnished this ut any rate Of interest?
| No.
| Mr.. Wolcott-I desire to say to the Senator
| Mr.. Hlll-Wait until am Through.
Mr.. Wolcott-Ie has asked a question about
| the miners OF Colorado. They have been so i'm
povershed by the legislation advocated by the Sen
| ator from New-York. who has claimed to be bi-
metallst. that they cannot subscribe on any terms
| But there plenty OF Americans who would
have subscribed on 3 per cent basis II there had
been public application for bids.
| Mr.. Hil-Mr. President, there are a large num-
| Der OF men who say Il told you so" There are n
| large number OF men who say they would have
| come forward and would have taken these bonds.
and yet when the President was negotiating you
| never heard OF them Mr.. President loan Ike
100000 in gold must sometimes be made from
! the money kings OF the world. You cannot some
times well go elsewhere. it what this Admin
| straton felt obliged 10 do. 1t what Re
| bavo baap