The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-02-23
THE BOND DEAL.
Senator wolcott Declares II TO Be
a Dishonorable Dicker.
silver senators Make a serious Charge
Against the Administration-Lodg
INDUCES I'm strong Language
Hin Comes To tho Defense.

WASHINGTON, Feb. 10.-President
Cleveland and his secretary of the
treasury came In for the principal share
of the attention in the senate Saturday.
The debate was launched upon a reso-
luton offered some days ago by Sem
ator Hill dem, ~ ". declaring IL
10 be the policy OF the government
10 establish safe system OF
bimetallism and 10 maintain gold and
silver at n parity; and upon a substi-
tute for IL offered by Senator Sherman
| (rep., o. making similar declaration
except that IL asserts that policy 10 be
''the established policy of the United
States"
nm speaks
Senator Hill made an earnest and inn
passioned speech in support OF his reso-
luton, stating that IL was OF supreme
Importance. AT this hour, that congress
should inform the country and the
world, that the policy of the United
States was not TO maintain the single
gold standard or the single silver
standard, but the double standard, and
that III parity could not always be
maintaned) the obligations of the gov
eminent would be paid in the best
money in use.
senator Hill spoke for more than
half an hour and very earnestly. lie
was followed by Senator Wolcott rep,
COLI who said that Senator Hin had
been "thrashing old straw" The
house. he said, had disposed Friday
so far as this session was concerned
of the success OF the issue or indorse-
ment Of gold bonds.
woIcott Attacks tho President.
THE presidents wanton attack on the credit
OF the United States Senator Wolcott de-
ciar,sd passionatelg. has been the most disas-
trous occurrence OF this generation our nest
was befouled by the man who should have
stood for our credit"
Again. Senator Wolcott said: "The presi-
degt entered into secret negotiation with
the Rothschilds, OF Europe whereby he
should give them long bonds at excessive
finances"
The per cent bonds which had just been
sold 10 the syndicate. we're now selling, he said
in New York az ii2H and would be selling
within sixty days az ie0 He believed that tho
suffering and poverty which prevailed all over
Abe world would never cease until silver as
well as gold was made tho standard Of
value III senator Wolcott said IN conclu-
sion. there Is anything that Will arouse the
American people 70 the belief that we car
alone undertake the management OF our a.
nances without the help OF foreign bankers, IL
has been that disgracoful and dishonorable
1ickcr with the Rothschilds."
Senator Lodge rep. Mass) advocated
Senator Hills resolution, the point Of
which, he said, was that every obliga-
ton OF the United States where coin
was named in the bond is payable in
the best money-in gold or silver-as
demanded. As to the recent arrange
ment with the syndicate, he denounced
IL as "the blacklist contract ever made
by the government of the United
States
mn Defends the President.
Senator Hill replied 10 Senator VOL
colt and defended the president from
the charges made by the senator from
Colorado Mr.. Cleveland had his faults,
Senator Hill said, but there wis moth
ing TO Justify the statement that he
had paid a higher rate OF interest in
his bond contract than he was com
PEELED 70 pay.
Teller CrIticises HilI.
senator Teller declared that for the
last ninety days prearrangcd effort
had been made 60 put the country on n
gold basis, 50 that II could not
get away from IL. The senator
from New York had taken part in that
effort lie declared that this effort
had been In the direction Of putting
gold at a premium. There had vir-
tually been conspiracy 10 this pur-
pose, and, with this accomplished, the
plan would be 10 require payment
alone In that money lie continued
''rhe New York senator tells US he is not
defender Of the president BE that rs IL may
ne Is the only senator who has reso-
luton. since the terms OF the late con-
tract we're announced. telling the people
that IL Is an honest transaction and that
ft Is the best that could have been
done. Tho senator from New York
A. noted for his courage, but IL takes higher
degrees OF courage than he has shown IN any
thing else TO stand out IN defense OF transact
'fion which puts our securities az lower rate
than those Of Egypt and when he says that no
senator can decontiy criticiso the transaction
want 90 say that his Ideas and mine diner as
90 what deoency Is"
Administration Arraigned.
Continuing. senator Teller declared that
n senator no construed II 60 be his duty to
protect the reputation and tho interest OF the
United states. and ne declared 1t Is the
nrst time In tho history OF the administra-
tions affairs that the people had ground for
charging absolute dishonesty" He said,
however. that he did not charge that the pres
fdont or H. secretary OF the treasury had
prontcd pccuniariy by the transaction He
could not. however, conceive what had nru-
enced their course except an undue desire TO
acquire authority for gold bonds Senator Teller
bitterly arraiRned the administration In IT'S
dealing with foreign bankers
Upheld by Gray.
WASHINGTON, Feb Ex-senator Gray
(dem., Dell on Monday entered into n
defense OF the action OF the president
and showed that the president had twice
appealed 20 congress for aid in sustain
ing the credit OF the United States;
that congress had sat dumb and ire
sponsive 20 these appeals, and that the
executive action was dictated by his
duty under the laws. 10 was entirely
the fault OF congress. not Of the presi-
dent, II the government had 20 pay I'm