Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-20

amount o. tdlk Tor moment chhnEe
the result 2"
Probably not" responded Mr. Hale.
But think the friends of the bill
had better 20 ON without these rug
gestions OF dilatory tactics, IL needs
no mere intlmatlon." said Mr.. Jones.
Mr.. Aldrch urged that n bill Of this
Importance should not be rushed
through without debate. There would
probably be numerous amendments Of
fered requiring explanation and Discus
sion. II should be recognized also that
whatever the senate did the bill could
not get the approval OF the coordinate
branches of the government
Mr.. Jones said 1t was not for the SEN
ate 10 consider what the executive
branch OF the government would do.
vote.
AS there appears to be no disposi-
tlon'' concluded Mr.. Jones. ito agree
upon time for vote. l will ask the
senate TO remain in session tonight un-
III a vote Is taken"
rms closed the Efforts toward agree
ment on time for a vote and inaugu-
rated what appeared TO be contest OF
endurance.
Mr.. Villas then addressed the senate.
He spoke of the presidents several
messages to congress and his constant
appeals, with words solemn and almost
pathetic In their earnestness, TO deal
with the financial conditions, But there
had been absolute impotency In CON
/ Eress to meet the perlls OF the country
Mr.. Villas then took up the events lead
ing to the recent bond transaction. He
l said such action was necessary to avert
the calamity Of gold suspension.
Few have known" he snid. 1.-THE
| rrecipice on which the treasury stood
before this action was taken"
He proceeded to show that withdraw
ais OF gold were 50 great In January
| that 'it became obvious to the treas
ury that systematic run was being
made on It's gold"
After reviewing the run on the treas
ury prior TO the execution OF the CON
tract for the sale OF bonds and the
consequent importation Of gold from
Europe, Mr.. Villas took up the present
condition OF the treasury and showed
| how "A great crisis had been uVcrtcd.
| lie said that the greater part OF the
| gold left In the treasury when the run
ceased w9s in bullion and unavailable
for redemption purposes, and stated
that II The run had continued the
mints would have been unable TO pro-
ducc the coin with sufficient rapldlty
to meet the demand
III the drain had not been checked
by the announcement of contract"
he said 1--WE would have hecn thrown
20 "a silver basis or to the suspension
OF specie payments" and he declared
that the president had been doubtful
whether he would be able to mold on
FOR another day Few persons had
been aware OF the peril. but there were
some who appreciated 1t. and he read
the following telegram from Mr. Buch-
aEan. the United States minister e
Argentine To show that the English
bankers understood the situation;
"Buenos Ayres. Feb. II, 1S95.-Gresh.
am. Washington; The London and
River bank, the largest in South Amer
len, under orders from London, today
refused classes OF American exchange
Are you acquainted with this fact
BUCHANAN"
Commenting on the telegram, he an
serted that the condition OF affair
which dropped out In far Off Argentln
would have made Itself manifest In al
the European financial capitals.
Mr. Villas then turned his attention
TO the remedy available to meet thi
serious condition.
at is your fault" he said, that tn
treasury condition was so critical tina
the delays incident TO popular LOAF
would have brought on a suspension o
specie payments in six days. Tn
Judgment OF financial authorities would
in time, approve, IL inded It had no
already approved, the action OF tn
government In bringing a vast suppl
OF gold from abroad"
A sharp coloquy occurred betweel
Mr. Aldrich and MIR. villas during tn
lntters speech Mr. hldrlch said til
recent bonds could have been sold a
10 per cent above what they brought
I IN the senator had stood at one en-
10 OF a cable, as the secretary of tn
j treasury stood" said Mr.. Villas, AN
! for days solicited all the great none
centers Of the world for thoir terms o
n our bonds. he would not make sucn
a MIR. Aidrich said that II he had III
2 resources available in the treasury
I and yet had TO pay per cent premium
$ on bonds. he would 30 out OF the bus
ness
!, III is n singular fact" said Mr.. villa
= addressing MIR, Aldrich, that the aplei
l. men are not the ones employed TO an
charge the great transactions Oh III
= government -
= There was a laugh at Mr.. Aldrich
= expense. In which he Joined.
l. Mir. Villas proceeded; 80 immlncI
,Nng the danger to the treasury frol
2 Inc black thunder cloud, the llghtnin
= was almost ready to descend. We
l. the secretary to delay for fraciio
OF n cent? There are times In the nv
tory OF natlonH--in peace as well az
s. ynr-when great consequences Deepen
. on quick action. and he whose arm
:. uaralyzed or whose foot falters IL M
= worthy OF the rust
!, Mir. Villas tool, up cha[ges that mn
:, been made against the adminIsirai, 20
u one OF these was that Mr.. stetso
a former law partner OF PRESSURE
Cleveland, was witness to ans p'N
lr contract.
- MIR. Villas said MIR. Stetson was leg
:, advisor OF the Morgan banking hou'
Z. ana as such has passed on the Don
- contract. ..,
"a Mir. Villas also repealed the staieinei
y of Mr. Lodge that the bond contrh'
was the "blackest page In our ihai
IL cial history.
- MIR. Squire QRep,, Wash) pointed OF
"a mat In 1873 a resolution mad bee
! adopted In congress reciting that Il
80 coin obligations OF the goyenmei
NJ would be redeemed In either silver
: gold, at the option OF the government
N This, Mr. Squire said, showed TN
a there would b. no breach of honor
l. MIN to pay our obligations Ia silve
Il Mir. Villas closed at 5lO y. m. Wi
le a brilliant peoration for sustaining N
rs fional honor aud credit He had sp
6en nearly four hours
le After Mr.. villas concluded. az $50
IL N, active steps We're taken by the 81
It ver men 10 force the final vote II VI
sr evident. however. that the opposite
liz ,yas ready TO talk against time az