The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-19
BOLD MOVE IN THE SENATE.
Sflverites Secure the Right of Way
Speech by John Sherman.

Speech by John Sherman.
WASHINGTON, Feb. 1S.-By a bold par
liamentary move the silver men of the Sem
ate, under the leadership Of Senator Jones'
of Arkansas, forced aside all other pending
business, including appropriation bills, and,
by vote of 30 to 27 made the bill for the
unrestricted coinage of silver the unfinished
business before the Senate. Having succeed
ed in this, Mr.. Jones gave notice that the
silver bill would be kept before the Senate
until a final vote was secured before ad-
shown by the silver men on the votes to-day
there was little doubt of Mr. Jones's ability
to secure the vote tomorrow, unless OBJ
structiye tactics or a test of physical en-
durance are inaugurated, which is regarded
as likely.
The move of the silver men came as the
climax of an exciting day in the Senate.
For two hours at the opening of the session
there was a renewal of the attack and de-
fense, the charge and counter-charge con-
corning the course of the President and Sec
retary of the Treasury in negotiating the re-
cent bond contract with foreign bankers.
The two notable speeches of the day were
made by Mr.. Gray of Delaware, whose re-
lations with the administration are such
that his utterances in defense Of the Presi-
dent and Secretary were regarded as reflect
ing the attitude of the executive branch;
and by Mr.. Sherman. of Ohio, whose finan-
cial views are always received with marked
attention. MIR. Sherman's criticisms of the
bond contract were none the less severe be-
cause of the calm and dispassionate manner
in which he set forth what he termed 'its
hard and impolitic' features and the lex
cessive'' rate of interest allowed on thirty
year bonds. Mr. Sherman declared that no
bonds should be issued except to be taken
by the people of the United States, and he
asserted the abundant ability of Americans
to furnish all the gold necessary. The Ohio
Senator did not, however, question the Pres
idents position in favor of gold payments,
but presented the facts of all bond issues
since 1869, showing that the government had
always received gold for it's bonds and was
bound by common honesty to pay in gold.
Mr. Stewart was the first to continue the
criticism of the bond contract His reso-
luton was called UP declaring that the gov
ernment had no legal authority to buy gold
coin in preference to silver coin for any
cause whatever. Mr.. Stewart spoke of the
humilating position of the United States
in being held by the throat by a gold COM
mission which had the power to 'coerce
and squeeze" the country up to next Oc-
CUCKOO" GRAY'S SPEECH.
Mr. Gray, who is recognized as close to
the officials of the administration, then took
the floor. He expressed surprise that the
Senators from Massachusetts Qodge) and
Colorado CWolcotD had SO far gone out of
their way as to indulge in violent as
sault upon the executive. The President
had performed a duty incumbent on him
by law. The law was such that any evasion
of it would have been a plain dereliction of
duty: Congress had made this law. 1t
made it necessary to maintain the parity
between the metals by redeeming in either.
No sooner had Congress assembled than the
President applied to Congress concerning
the financial conditions. A bill was formed
on the lines suggested in that message and
the House saw fit to reject it. Again the
President applied to Congress. Mr.. Gray
read from the Presidents message urging
patriotic and bipartisan action to meet the
emergency.
Does the Senator think" interiected Mr..
Stewart, that the President has re-estab-
lished confidence in affairs by hiring the
assistance of foreign syndicate?
Mr.. Gray said he would fully consider that
point later. Proceeding with the Presi-
dents message. the Senator read this
vide for bonds payable in gold. At that
time MIR. Lodge had not complained of the
conditions clearly set forth by the Presi-
a scathing denunciation- Having thus ap-
piled to Congress- continued Mr.. Gray,
"having thus presented the situation to
both branches of Congress-in appeals al
most pathetic in their earnestness-the
President was left alone to struggle with
the condition and to meet it,
The Senator told of the tremendous drain
of gold from the treasury. running up to
100000 in one week shortly before this
contract was made. From Dec. / last up to
the time of the contract, N7.00O.O00 was
withdrawn and of this only one-half was
fAd Ghn fhnf fIea AL E.,1f
boarded at home.
HAS the Senator lost sight of the fact
asked Mr.. Woicott, that the Secretary of
the Treasury has reported to that he
has used $l05.00o,000 of that gold for cur
rent expenses?
This did not divert Mr. Gray from his line
of argume mt to the gold Withdrawals for
export and for boarding at home.
Right here / want 10 ask said Mr. Pef-
fer, lis there any law which compels the
Secretary Of the Treasury TO pay demand
notes in gold instead of in silver?
Il have not said there was any such
law replied Mr.. Gray. Il know of no
such law. But the obligation I'd maintain