The herald., 1895-02-20

1.-THE London and Dover Bank, the
largest in South America, under orders
from London today refused all classes OF
American exchange. Are you acquainted
with this fact?
(Signed) Buchanan.
Commenting on the telegram, he as
serted the condition of affairs which
cropped out in far off Argentine would
have made itself manifest in all the Euro
pean financial capitals.
a sharp colloquy occurred between
Aldrich and Villas. Aldrich said the re-
cent bonds should have been sold at 10
per cent above what they brought
eff the Senator had stood at one end of a
cable, as the Secretary of the treasury
STOOD" said Mr.. Villas. land had for
days solicited all the great money centers
of the world for their terms on our bonds
he would not make such a statement.
Aldrich said that if he had the re-
sources available in the treasury and yet
had to pay 10 per cent premium on
bonds, he would go out of business. "
1t is a singular fact, said Villas, ad-
dressing Aldrich, that the best men are
not the ones employed to discharge the
transactions of the Government.
There was laugh at Mr.. Aldrich' ex-
pense, in which he joined.
Mr.. Villas proceeded: so imminent
was the danger to the treasury that from
the black thunder cloud the lightning, was
almost ready to descend Was the Secre-
tary to delay for II fraction OF cent?
There are times in the history OF nations
in peace as well as in war-when great
consequences depend ON quick action, and
he whose arm is palsed, or whose foot
falters is not worthy OF the trust
Villas took up personal charges that
had been made against the administra-
ton. One of these was that Mr.. Stetson,
formerly law partner OF Cleveland, was
a witness TO the bond contract. Villas
said that Mr.. Stetson was the legal ad-
wiser of the Morgan banking house, and
as such passed on the contract and
signed it as witness. The Senator sad
it was lamentable that such ISLANDERS
should be brought into debate with
great mems names.
Villas also repelled the statement of
Lodge that the bond contract was the
''blackest page in our financial history.
At most it was a matter Of unwisdom IN
no sense was it black.
Mr.. Squire pointed out that in 1873
resolution had been adopted in Congress
reciting that the coin obligations of the
government would be redeemed in either
silver or gold, at the option of the gov
ernment. This, Mr.. Squire said, showed
that it would be no breach of honor or
faith to pay all obligations in silver.
Mr.. Villas closed at 5:15 p. m. with a
brilliant peroration for sustaining the ma
tional honor and credit. He had spoken
nearly four hours.
Mr.. Platt (Rep. OF Connecticut said the
pending silver bill was the most inde-
fensible bill of the kind ever presented
here 1t sought to double the value of
silver by delivering it to the Treasury De-
partment.
At 20 Mr.. Aldrch renewed his motion
for adjournment.
Jones called for the yeas and nays with
apparent confidence of having the votes
to defeat the adjournment. The motion
was defeated-yeas, IS; nays, 32, two
more than the necessary quorum.
Jones named several hours at which he
wanted vote taken, but all times were
objected to. Jones said he was willing to
fix the hour for voting at any time tomor-
row, but the opponents of the bill refused
TO fix the time.
AT I :45 Quay suggested the absence of a
quorum and the roll was called. Fifty
Senators responded, four more than a
quorum.
Aldrich moved to go into executive ses-
sion. Lost-seven short of quorum.
The Senate was thus brought to a stand
still, for although quorum was present,
a quorum could not be obtained for
vote. Then began the tedious seesaw of
calls for a quorum, and then a roll call on
the Aldrich motion, and then again for
quorum. Each call showed the same
quorum present but not voting.
At $3.50 on motion of Mr. Jones, the
Sergeant-at-Arms was directed to request
the presence of absent Senators. In the
meantime business was entirely sus-
pended.
The galleries had filled during the eve
ming and the spectators were evidently
much interested in the proceedings.
AT S:55 business was resumed, a quo
rum being secured 1t was evident that
an understanding could not be reached
Wolcott one of the most active of the
silver men, followed with resolution. 1t
was as follows:
Resolved, That it is the sense of the
Senate that the welfare of the United
States requires the enactment of law for
the free and unlimited coinage of silver at
the ratio of 16 to t.
Resolved, That in view of the fact that
this Congress will expire by law March
18th and that there are important. appro
priation bills requiring the attention of
the Senate, it is the sense of the Senate
that the consideration OF such law be
not entered upon at this session of Con
gress.
Mr.. Jones asked that the resolution lie
over.
Then he added, somewhat YEARLY IL
move that the Senate now adjourn. "
At 9:02 pm. the Senate adjourned until
IL o clock tomorrow
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