The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-01-17
WILL PLEASE THE PEOPLE.
Refers to the Administration Currency
Bill in Caustic Language-Ilad Il
populist Introduced it, it
Would Have Been
THE HEIGHT OF LII
MACY.
He lays All Blame for Depression. An
archy Etc, to the Decentralization of
Silver, and Scores Both the
Democratic and Republi
can Parties.

senate today Mr. Cockrell called up the
urgency deficiency bill.
The presiding officer, Mr.. Harris. OK
planned the parliamentary situation com
ing over from yesterday. Mr.. Hill had of
fered an amendment to the item, appro-
priating funds for collecting the income
tax, so that the legality of the law would
be referred to the courts. The chair had
ruled out the amendment on Il point of
order.
Mr.. Hill appealed from the decision of
the chair and Mr.. Morgan agreed to with
draw his motion, and this postponed a
vote on Mr. Hills appeal. Mr.. Teller
(Rep., COLI Then addressed the senate
in support of continuance of the income
tax. He pointed to the large treasury
deficit which had been temporarily met
by bond issues. The gold supply was down
to ST., 100000, and was rapidly disap-
pearing. Any proposition to do away with
the income tax therefore should be ac-
companied by Il plan to raise the revenue
the government required.
Mr.. Teller gave it as his opinion that
the income tax would become permanent
even though il was limited to five years
by the present law. He believed it was
such u tax that the people would insist
on its continuance.
| Import duties could not be put so high
as TO entirely keep out goods, and without
these there was certain to be Il deficiency
| Ill revenue. 1t was necessary, therefore,
| that some middle course should be adopt
ed and the income tax was the most
Just means of taking of this course. Mr..
Teller spoke of the vain and fruitless eff
forts of the executive branch of the gov
eminent to do something to relieve the
present distress of the government and
the people. 1T shows" said the sena-
tor, that the executive branch is i'll the
wrong hands"
scheme for banking coming from the
treasury department. He referred to
the reports that the bill had been given
to stenographer in 80 minutes. Il
wish to show all due respect TO this bill"
said Mr.. Teller, coming as it does from
such high sources, but if such Il measure
came from any Populist senator it would
be branded as the height of lunacy.'
Mr. Teller declared that the currency
bill proposed to inauguratc the old era
Of wild cat paper. 1t violated every prin,
ciple of finance i'll this country or any
other.
Mr.. Teller ridiculcd the talk about
elastic and flexible currency with bank
ing corporations having charge of the
elasticity.
There is about six weeks remaining
TO this congress-" said Mr.. Teller. Now
does any person seriously believe that
Il provision of this vast currency system
can be accomplished in that time? Why
then. is congress and the country stirred
by these frantic appeals from the treas
ury!'
The senator argued that it was time
the executive stopped what he termed
frantic demonstrations of fright. Mr.
eller examined in detail the bi-metal
lie system of France, under which that
country enjoyed absolute tranquility.
Senator Ilawley RepD at this point
interjected with Il narration of his per-
Sonal experience ON the night before
France raised the vast sum to pay its
war indemnity to Germany.
Mr. Teller argued at length to prove
that the low price of agricultural pro-
ducts today were the direct results of
the demonstration of silver, first by
Germany, then by the United States.
and lastly the Latin Union. In every
yer, prices of staple products had re-
manned absolutely staple during the last
% years. He cited as illustrations China
and Japan. 1t has been charged, he
said, that those who were in favor of
bi-metallism was not in favor of sound
money. But if sound money was to be
preserved he warned the senate it would
be preserved through the efforts of the
so-called silver men. If the gold basis
was insisted upon it would be found too
narrow and the time would come when
an over issue of paper money could not
be resisted. He described the growth of
socialism and anarchy in this country
since the demOnetiZaton of silver, the
bitterness that had grown up among
classes. This condition had been pro-
duced by class legislation.
Are we now," he asked, ito admit
that we have not the wisdom to undo what
we have doneT'
Although his side was not charged
with the responsibility for the present
situation, he, for one, would join with
his political adversaries in any scheme
OF relief that appealed to his Judgment. |
But he had little hope when he saw the |
senate of the United States confronted
with such a situation. supinely waiting
to see what Europe would do 1t was |
deplorable and disgraccful A change of !
might aid matters. but he
doubted it. The last Republican admin
lstration was voted out of power and he
belevcd 1t deserved the defeat. Last fall
tn" people had OvcrthrOwn the Demo-
cratic control in the house because the
Democratic party had shown itself in
capable of dealing with the problem be-
fore It,. As for the Populist party. he
did not believe it ever would be n partv ~
power and therefore he believed if wnuId
levolve on either the Republican or Dom
ocratc party TO solve the problem event
nally, when the pressure of the peonIn !
would at last force logical action ON hi. !
monetary problem. Any scheme to secure {
ms vote must he in line with what he hr- I
leycd to he its solution.
MI Teller closed with an cloqucnt an ]
peal to those on the other side of tho Y
'halllbcr to present Il solution of the rv-
sting problem which would not snrrnndnr
silver. 1t should be no make-shift No
temporary experiment, but it sbouId Lo y
tihple TO avert crisis more dangerous
% tle American people than war eynn
Mr.. Lodge Rep, Mass spoke of rho
Hunger OF arreSting appropriations and 4
mus Kllllng law by starvation lie JiJ Q
lot therefore approve of refusing the nm. Il
preparation necessary to execute Tho in. n
'Ome tax. The imposition of , Ji,a't e.
nome tax was the necessary result Of 4
abandoning the protective pnlir,. az i, .
lirect taxes. He referred 10 the present Il
ny Tor currency legislation as n mnve / f
Intended to cover up the most dismal fail In
Ire III tariff legislation the country had In
'VeT seen. H''"
The trst step Ia tax Ia cv,r,.,,,,,.
he distress of the treasury WAS IN r,iso C.
more revenue. This currency o~itatinn 4
erNed no useful purpose. None Of these "