The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-02-17
The Senate Swept by a Storm
of Finance Debate
ADMINISTRATIONS POLICY
Bond Contract With the ROthschilds
Scathingly Denounced
Hill Defends Cievelands Policy aud Said
Republican Administrations Had Sold
Bonds to Foreign Banks

Washington, Feb. 16.-A storm of finan-
cial debate swept over the Senate today
exceeding in intensity any discussion in
the upper branch of Congress for many
days. II was brought on by MIR. Hills
advocacy of his resolution defining the
policy of the Government for bimetallism
and for paying its obligations i'll the best
money in use. The New York Senator
spoke with his usual vigor and was close
ly followed in his plea for sustaining the
national credit by declaration of policy
to the world.
But Mr.. Hills speech was merely the
warning note of the storm. He was fol-
lowed by Mr.. Wolcott of Colorado; Lodge
of Massachusetts, and later on by Mr..
Teller of Colorado, in the most scathing
denuncation and arraignment OF the ad-
minstration for its recent bond contract
with the Rothschilds and other foreign
bankers.
Wolcott made a direct and personal
criticism of the President. Lodge was
more temperate, but quite as severe, in
his personal arraignment OF the President
declaring the recent bond contract was the
blacklist act in the history of American
cism on the recent acts of the administra-
ton.
Hill replied briefly and with spirit. He
declared that a futile effort was being
made to arraign the Presidents admins
tration for its appeal to the Rothschilds,
while, as a matter of fact former Repub-
lcan administrations had sold bonds to
these same foreign bankers. Hill declared
the President and Secretary of the Treas
ury had secured the best terms possible.
The Senator closed his speech by reading
the Associated Press cable from Berlin,
announcing the purpose of Germany to
convene another international monetary
conference, and said: cat least we can
say that this Congress is not committed
to gold. We will proceed steadily toward
the realization of bimetallism, and we will
maintain our national honor and credit
by paying our debts in the best money
in use."
No action was taken on the Hill resolu-
tion, and renewal of the financial dis
cussion is expected on Monday, Mr.. Villas
having already given notice of speech.
The rest OF the day was given to the ag-
ricultural appropriation bill.
The House concluded the general debate
on the naval appropriation bill. The in
crease of the navy authorized in the bill,
consisting of three battle ships and twelve
torpedo boats, was supported by Messrs.
Adams, Republican OF Pennsylvania;
Milliken, Republican of Maine; Bartlett,
Democrat of New York; Coombs, Demo-
crat OF New York, and Talbot, Democrat
of Maryland, and was opposed by Mr..
Washington, Democrat of Tennessee.
The House agreed to the Senate amend
ments for the sale of isolated tracts of
public lands, reducing the minimum
prices for such lands from $3.50 to 81. 25
per acre. The twelve pension bills re-
ported at last nights session, were passed,
as was also bill to place Warren G. Beach
on the retired list as a Captain. The re-
mainder of the day was devoted to eulo-
gies on the life and character of the late
Senator Colquitt of Georgia.