The morning call., 1895-02-17

tain the single gold standard or the single
standard of silver"
Hill said that on general financial ques-
lions Congress was further apart now than
it was six months ago. The provision for
gold bonds on one hand was. met by the
proposition for unlimited silver coinage on
the other hand. What had become of the
opposition to redeem the greenbacks and
other financial plans?
"But in this condition of inaction," pro-
ceeded Hill, Congress can at least take
this one step that will assure the world
that. although we may have our hands tied
on these yarions measures our bonds may
be taken with the full assurance that they
would be paid by the best money in use"
Hill said there was prospect of a fur
Their issue of bonds. "Let us then keep
down the interest. What could either
party gain by inaction on this subject by
bringing on a panic this coming summer
and bringing Congress back to Washington
again for further legislation"
Hill closed with an eloquent peroration
for maintaining the national honor. "At
least we can say" said he, "that this Con-
gress is not committed to gold; that we will
proceed steadily toward the realization of
bimetallism, and that we viii maintain our
national honor and credit by paying our
debts in the best money in use"
Wolcott who followed, declared that
He'll was merely threshing old straw. The
present time was, he declared, inappro-
pirate for such resolution coming on the
heels of the monStrous attack which the
President has made upon the currency and
credit of the United States in his bargain
to sellour bonds abroad on such terms as
he had made with the European bankers.
This action he pronounced the most
disastrous assault upon the country 5
financial system which has ever been
made and the worst feature of the whole
wretched business, he said, with growing
earnestness, ''is that the attack is made by
a man who, because of his position, shonld
have stood the foremost in our defense.
Our nest has been befouled by the man
who should have stood foremost for our
credit"
Wolcott criticized the recent contract
made for the sale of the bonds in Europe
He did not believe that bankers through
whom the negotiations. had been made
will ever be called upon to advance more
than 10 per cent of the amount of the
bonds sold on account of the advance in
their price. He:had been assured that in
New York alone 112% had been rendered
. for $13,000,0e0 worth of bonds, and said he
had the authority of one ;of the leading
bankers in New York for the statement
that within sixty days the whole issue
would be worth 120. So.
"If," said he, speaking directly to the
resolution and the desire expressed by it to
uphold our national credit, there were
ever any men who were not entitled to con-
sideration, it is the Rothschilds and the
President, because they have sought to
blacken our credit
He asserted that the resolution and the
speech of Hill were in the same direction
as all other efforts made to discredit silver,
and then launched out. into a defense of
silver, declaring they did not advocate this
course because they were not unpatriotic
or because of selfish purposes, but because
they would relieve the suffering in the
country, and they did not believe this. was
possible of accomplishment until the Gov
eminent standard should be re-established.
There could be no prosperous times with
wheat at 90 cents bushel.
He referred to the proceedings in the
German 'Reichstag yesterday concerning
silver as an Indication that there was to be
change'in the interest OF silver.
eve are working toward it," he con-
'cluded, but if any act could serve to par
alyze progress in that direction it is the
disgraceful and dishonorabIe dicker of the
President with the Rothschilds."
Lodge OF Massachusetts said the sub
stantial and important part of the resolu-
ton was the last hall, declaring the right
of the holder to. receive his pay in the best
money. He would push all the other
declarations. of the resolution aside as
immaterfal and let this stand He did not
regard it as necessary to define the ques-
ton as to who was bimetallist or to pro-
nounce for the parity of all kinds OF
money, as the latter declaration was al
ready to be found embodied in our
statutes. The point was in neither OF
these directions, but in the sustenance OF
the credit of the country. He believed
that the holder of Government bond
should be able to ask for payment in the
best money, and in gold. if that were the
best, and he believed that to be the DUES
ton OF the agreed party. He agreed with
Mr. Wolcott that. the President had as
SdIlSu lne CTeulG VI tne Dut
asserted that he had made the attack by
his assault upon our coin bonds. For that
reason, because of this attack, lie thought
that Congress should declare itself without
equivocation or reservation.
REWRITING to the contract, he said that
the profits allowed the European bankers
''were enormous, gigantic" and charac-
terized the contract the blacklist ever made
by an administration III dealing with
American securities. But this fact, Lodge
added, only renders it more important
that the country should make good its
promises. 1t was not question of BIZ
metallism or recommendation, but of the
good name of the country. That credit
had been impeached and attacked by those
who should have defended it, and it there
fore behooved Congress to come to the
rescue. He hoped vote would be reached
not only on this resolution, but on the en-,
tire financial question, believing the
country had right to know whether the
Senate was free-coinage body or a body
opposed to that policy.