New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-31


COMMITTEE WILL DO NOTTINGHAM SHEER
MAN POINTS OUT THE PROPER COURSE
TO PURsUE-MR. HILL TAKES
HAND IN THE FRAY.
washington, Jan. S0.-In the Senate to-day Mr.
oro,n REP, I'D presented kilograms received
=, him from Chicag' bankers requesting him and
~ Colleagues to urge the immediate passage of
~, House bill prepared in conformity with the
nros,dent's message. Similar kilograms were pre-
sonted By Mr.. Vest Dem. MOI from the st. Louis
Merchants Exchange and in relation to them Mr.
Vest said;
Mr.. President, have very great respect for the
c, louis Merchants Exchange and for the opin-
IONS and wishes OF the gentlemen who constitute
that body But am unable 10 meet their view, views
dents message. do not think that the Merchants
Exchange Of ST. Louis represents the intelligent
g1pdo not think that it's members have given proper
Consideration 70 the lestimate effect of the recon-
!'ongress | do not believe that ma 1ority OF the
Se of h Of ReGgs S5 Se of n non
interest bearing Treasury notes. and the suostitu-
tic, ss N pe'h hat they propose to retire
iv substituting gold obligation running for nfty
years s wi o ss soa and With an aggregate
amour, of interest at the end Of fifty years OF
II IS seihsh suggestion that the principal OF,
large part OF it, Is to be paid by postery The
ra az binding as they are in reference to the
nresent generation We legislate not for ourselves
might lust as we'll be said that can ignore the
autonomy OF the Government as to future ages
f a, Which might involve the country in all
Of difficulties to say (as the President suggests
that must look alone to the present and let
Mr President. with great respect to the st.
as soothsayers in regard to finance. This same
Merchants Exchange telegraphed me to vote for
OF the Sherman act. and said that its repeal would
bring prosperity to the country. and that sunshine
place Internationally. and what was the, result?
So far from bringing prosperity it brought add af
constituted fnanciers turned out 10 be mere llu-
s9nhs saseleS SIS fabric Of vision yn .sea
i w p9 pg h s Soqny e
National banks as banks Of circulation The Presi-
dent OF the United States has issued proclamation
of war against the silver issue Of the country and
he seeks now Il do not speak OF his motives. but
of the results make those OF us who do not be-
lieve in single god standard accessory to the de-
struction of silver and 10 the perpetuat!on OF the
system to which he is devoted Is It possible that nat
row the power to secure ali the gold that is neces
sary for the Treasury of the United states. even
Rotary of the Treasury openly avows and the Presi-
dent repeats. that they, need no more money TO
meet the current expenditures of the Government
POWER ALREADY IN HIS HANDS.
There is TO use the Presidents own language. "a
They openly avow that they gold to maintain
the single god standard and for no other purpose
And yet the impression is made on the country that
unless Congress gives additional legislation power
will be involved in one common ruin. Mr.. Pres-
dent. under the Resumption act so called the pres
run thirty Years. These bonds can be made. the
dent therefore has in his hands to-day all the power
Ire of hp
that d per S sn 1 so1 h a
tona SsnEs every one knows that Naonal
banks are interested exceedingly in a single gold
foa the issue Of crsulstion The President Of the
United States wishes force us TO be an accessory
Vote to issue one bond by this Government for the
Of securing god in GrasT sha the country
Mr.. Cuilom-The Finance Committee ! believe
to inquire of the Senator from Missouri who is "a
member OF 1t. whether that committee is iikely 20
get revenue enough to pay It's current expense II
that the most important th,ng nor t mos
by the sale of bonds. but by some other means OF
taxation that may be right ana 70 % the
Finance Committee is likely 70 arrive at the adop-
zion OF any policy which would produce more money
for the OF the Treasury.
AN AGREEMENT IMPOSSIBLE.
Mr. vest-It would be proper that the chairman
OF the committee should answer that question, but
in his absence venture to remark that do not
think there is the slightest possibility Of the Finance
Committee Of the Senate agreeing upon any Dill 10
70 a ,h question Is not now lin View Of
the statement OF the Secretary OF the Treasury
ury stated to me the day before yesterday that he
needs no legislation TO meet any Deficiencies ana
Mr. Cu.lorn-Then why this sale OF bonds?
Nh vest-ln order TO get gold as the Preside en-
Treasury viii state to any Senator who approaches
him. Gold TO restore confdence-as the President
gays in mis- message II is 10 meet the drain Of gold
from the Treasury and not to meet the deficiencies
for there now is surplus Of over ssO.CcoOy IN the
Treasury to meet the current expenses OF the Gov
eminent.
the Secretary, there Is abundance OF money 10
pay the expenses OF the Government?
the Government is increasing from day to day. so
that by April next. with almost absolute certainty,
penses. and in the coming year there will be large
surplus Of revenue
,nent himself or does the Secretary Of the Treas
ury make it?
the secretary OF the Treasury . ''''''''
Mr.. Cuom-so that this is not a question OF
Mr.. vest-Not at all; and the President so states
IN his message; and the President further says that
has destroyed confidence? We were told that 1t
was the purchase Of silver and we repealed the
bring confidence? Then we were told that IT was
the absence of tariff legislation and we passed
prepared TO commend. Did that bring confidence?
Then told by our Republican friends that
the lack OF confidence was on account or the In
cubus, the nightmare of Democratic supremacy
Mr;. Frye: THAT IT, and distinguished Re;
pubicans went on political tower as they called
It, proclaning that the very moment the Republi-
can party was put into power every industry IN
the country would spring up like giant refreshed
with wine. and there would be nothing after that
put hallelujahs and hosannahs.
Ar. Sulom-We are not In power yet.
HE WILL NOT BE BULLDOzED.
Mr. Vest-The Democratic party was overwhelm-
mgiy defeated; the nightmare Of Democratic SUI
premacy disappeared and we wait now, anxousIy
ana painfully. for that era of prosperity so often
promised TO US In the last Mr. President,
believe that the single gold standard is a system
OF oppression believe that II has destroyed conf
dence In this country Gold has gone up more than
y per cent in its purchasing power. and everything
else including siyer. has gone down. We to-day
IL l.. L.