The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-17

the mOnStrOuS attack Wnlcn the HTeSl-
dent has made upon the currency ana
credit OF the United States in his bar
gain to sell our bonds abroad on such
terms as he had made with the
European bankers. This action ne
pronounced the most disastrous as
sault upon the country's financial sys-
tenn which had ever been made, and
the worst feature of the whole
Wretched business" he said, with
growing earnestness, "is that the at
tack is made by man who, because
of his position should have stood the
foremost in cur defense. Our nest
has been befouled by the man Who
should have stood foremost for our
credit.
made for the sale Of the bonds in
Europe. He did not believe that bank
ers 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
1121a had been rendered for 81, 000, 600
worth Of bonds. and said he had the
authority of one of the leading bank
erS in New York for the statement
that within sixty days the whole issue
would be worth SI-20,
Scores Hill and Cleveland.
If" he said, 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 consideration, it is the
RothSchildS and the President, be-
cause they have sought to bIacken our
credit"
He asserted that the resolution and
the speech of MIR. Hill we're in the
same direction as all other efforts
made to discredit silver, and then
launched out into a defense Of the sill
YER advocates, declaring they did not
advocate this course because they were
unpatriotic of because of selfish pur-
poses, but because they would relieve
the suffering in the country, and they
did not believe this Irresponsible of
accomplishment until the government
standard should be re-established.
There could be no prosperous times
with wheat at SO cents a busheL
He referred to the proceedings in the
German reichstag Of yesterday con-
corning silver. as an indication that
there was to be a change in the inter
est Of silver.
1--WE are working toward it." he con-
cluded, but If any act could serve "a
paralyze PROGRESS in that direction it
is the disgraeeful and dishonest dicker
of the President with the ROthschilds."
MIR. Lodge (Republican), of Massa-
chusetts said the substantial and i'm
portant part of the resolution was the
last half. 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
imnlaterial and let this stand He did
not regard it as necessary to define
the question as 70 who was a bimetal-
list or TO pronounce for the parity OF
ell kinds of money, as the latter de
claration was already to be found
embodied IN our statutes. The point
was in neither of these directions but
3n the sustenance of the credit of the
country. He believed that the holder
of a government bond should be able
to ask for payment in the best money
and in gold if that were the best.
Has AssaiIed Our Credit.
He agreed with Mr. Wolcott that the
President had assaiied the credit Of the
country, but asserted that he had made
the attack by his assault upon oul
coin bonds. For that reason, because
Of this attack, he thought that Con
gress should declare itself without
equiVocation or reservation.
Reverting to the contract, he sait
that the profits allowed the European
bankers "were enormous, gigantic,
and characterized the contract as thu
blacklist ever made by an administra
ton in dealing with American securi
ties. But this fact, Mr.. Lodge added
only renders it more important tina
the country should make good its pro
misses, It was not a question Of bimet
alli5m or monometallism. but of tn
credit had been impeached and at
tackled by those who should have de
Tended it, and il, therefore, behoove'
Congress to come to the rescue. H
hoped q vote would be reached, no
only on this resolution. but-on the en-
tire financial question, believing tn
country had a right to know Whethe
the Senate was a free coinage body 0
a body opposed to that policy.
Mr. Stewart Populist), Of Nevada
sod -71TT Sf1r1 mr.
render of silver and as binding tn
gold letters on the people.
HfII After WoIcott.
MIR. Hill was again on his feet a
soon as Mr.. Stewart closed
AT least the debate has cleared tn
atmosphere said Mr.. Hill. The tru
purpose Of these protested friends c
silver has been laid bare. It was tha
they intended to pay our soYernmeI
obligations in silver coin 40 MATTE
how degraded, how deprecated tina
metal might be. It was for the pu,
pose OF securing this disclosure itha
the resolution was presented It wa
brought forward TO have senators di!
close their policy and to present
different policy.
'"ro the fling of the senator frol
Colorado that [ am q biTnetallist on
gold basis, I answer he is a bimetallis
on a silver basis. It was a mere pla
of WORDS said Mr.. Hill, such me
were not for bimetallisYn at all; the
were for silver and silver only
Mr.. Hill turned to the attacks bein
made on the President. It was n(
FOR him (HilD to express approval
the contract with foreign banker
But, the President had not been fri
10 act. as he desired. He had bee
bound hand and foot by the preSel
law. This Democratic Congress" ha
refused to help him.
Mr.. Cray .(Democrat), Of DelaWar
do you mean to say this Senate
at present Dem
No said NIr. Hill, I've no long,
have the majority, but while he had
We pat off action and procrastinate
until the power passed out of OF
hands.
1.-THE senator from Colorado cam
erraign this administration because
has contracted with the Rothsehfld
look for vast sums of money? nv,
you get it from the miners Of Col
rado2"
Ruined by the East.
NTr. Wolcott quickly responded: ~
not from the miners of Colorado.
they have been ruined by the IegisI
ton OF The senator from New Tor
But there were plenty of American
ready to take the bonds had they Il
chance"
Mr.. Hill declared the only way to S
cure such vast sum as SCI, 0O0, 600 vi
sn going to the money kings Of Il
world Republican administrations h;
appealed to the ROtchchilds, SO it w
l. .Fr-. ssaNx- = l.,