The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-02-20
ROASTED CLEVELAND.
HIS FINANCIAL POLICY ROUND.
LY DENOUNCED.


some preliminary business in the senate to-
day, MIR. Hills resolution which announces
the policy of the government of bi-metal-
lsm and on payments of gold obligat tons in
the best money available, came up.
Mr.. Sherman offered substitute declar-
Ing that the policy of the government
should be toward maintaining the parity
between the two metals, so that every dol
lar coined should be equal to every other
dollar. Should there be any disturbance in
the parity then bonds should be paid in
standard gold coin.
Mr.. Wolcott Rep. COLI moved to lay
both the resolutions and the substitutes on
the table.
Mr.. Hill then took the floor to discuss
the resolution. This declaration of the
policy of the government should receive the
support of every senator" said he, unless
there sits about this circle a gold mono
metallist or silver monometallist, l have
few words for them. But assuming that a
senator is for bi-metalism, then this de-
claration of policy embodies his views. 1t
is safe, wise and appropriate resolution
for the present emergency
Mr. Hill said the declaration first an
nounced as the true policy of the govern
ment that efforts should be turned
toward the accomplishment of bimetallism.
Il need not remind both political parties
that this is what they profess he pro-
ceeded. 1T is of supreme moment that we
should declare to the country and to the
world that it is not our policy to main
tain the single gold standard or the single
standard of silver"
Mr. Hill said that on general financial
questions congress
FURTHER APART
now than it was six months ago The
proposition for gold bonds one hand
Of nv fhn for INIT
silver coinage on the other hand. What
had become of the proposition to redeem
the greenbacks and the financial plans?
"But in this condition of inaction,' pro-
ceeded Mr.. Hill, congress can at least
take this step that will assure the
world that although we may have our
hands tied on these various measures, our
bonds may be taken with the full assur
ance that they would be paid by the best
money in use.
Mr.. Hill said there was prospect of fur
Their issues of bonds. Let then keep
down the interest. What could either party
gain by inacton this subject, by bring
ing a panic the coming summer and
bringing congress back to Washington
again for further legislation? Mr.. Hill
closed with eloquent peroration for
maintaining the national honor. AT least
say" said he, that this congress
is not committed to gold; that we Will pro-
coed steadily toward the realization of BIZ
metallism; that we will maintain our ma
tional honor and credit by paying our obli
cations in the best money in use.
CLEVELAND CRITICISED.
Mr.. Wolcott Rep., COLI who followed,
declared that Mr.. Hill merely thresh-
ing old straw. The present time was, he
declared. inopportune for such resolution,
coming on the very heels of the monstrous
attack which the president has made upon
the currency and the credit of the country
in his bargain to sell our bonds abroad on
such terms as he had made with the Euro
pean bankers. This action he pronounced
the most disastrous assault upon the cOun-
trys financial system which had ever been
made and the worst feature of the whole
wretched business, he said, with growing
earnestness, lis that the attack is made by
the man who, because of his position,
should have stood the foremost in our de-
Tense. Our nest has been befouled by the
man who should have stood for our
credit.
Mr.. Wolcott criticised the recent con-
tract made for the sale of bonds in Eu-
rope He did not believe the bankers
through whom the negotiation 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 $l.1212 had been tender
ed for $780, coo 900 worth of bonds, and SAID
he had the authority of one of the leading
bankers in New York for the statement
that within so days the whole issue would
rectly to the resolution and the desire ex-
pressed by it to uphold our national credit,
there were ever any men who were not
entitled to consideration, it is the Roths-
childs and the president, because they
have sought to blacken our credit
He asserted that the resolution and the
speech of Mr.. Hill were in the same direc-
ton as all other efforts made to discredit
silver and then launched forth into de-
tense of the silver advocates, declaring
ady because
they were 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 accom-
pishment until the double standard should
be re-established. There could be no pros
porous times with wheat at so cents a
bushel
LODGE SPEAKS.
MI Lodge Rep., Mass) said the substan-
tial and important part of the resolutions
was the last half of them declaring the
right of the holder to receive his pay In
the best money. He would push all the
other declarations of the resolution as I'M
material and let this stand. He did not re-
gard it as necessary to define the question
as to who was a bi-metalliSt, or to pro
nounce for the parity of all kinds of mon
ey, as the latter declaration was already
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 q
government bond should be able to ask fol
payment in the best money and in gold
if that We're the best and he believed tina
to be the position of the Republican party
He agreed with Mr. Wolcott that the pres
ident had assailed the credit of the cOun
try but asserted that he had made the at
tack by his assault upon our coin bonds
For that reason, because of this attack
he thought that congress should declare it
self without equivocation or reservation.
Reverting to the contract he said tina
the profits allowed the European banker
''were enormous, gigantic and character
ized the contract as the blacklist ever mad
by an administration in dealing with Amer
lean securities But this fact, Mr.. Lodge
added, only renders it more importan
that the country should make good it,
promises. 1t was not question of bi-met
allsm recommendation, but of the gOot
name of the country. That credit had beef
impaired and attacked by those who SHOULD
have defended it, and it therefore behoove'
congress to come to the rescue. He hopet
that a vote would be reached not only ol
this resolution, but on the entire financia
question, believing the country had a RICH
to know whether the senate was ire
coinage body or a body opposed to tina
policy.
Mr.. Stewart Pop, New opposed the Hill
resolution as surrender of silver ard a
binding the gold letters the people.
HILL POPS UP AGAIN.
MI IIil was again on his feet as soon
Mr. Stewart closed: "At least This debat
has cleared the atmosphere said Mr. Hill
s,-,r. nf