The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-28

DATED Ine lOldi Iel2lS4IIChI vi Liz
greenbacks. Now, in the face Of the
presidential election, they sought to
curry favor with the silver sentiment
and they dared not retire the green
backs to which they had once been
committed. This bill would prove in
adequate.
To RepeI Raids.
Mr.. Turner affirmed most positively
that in the extreme state of the mar
loet 3 per cent coin bonds could not be
doated.
In conclusion, he said he had once
believed that the secretary of the
treas'fry, by exercising the option of
redemption, could repel raids on the
treasury, but he now believed such a
course would precipitate q crisis,
panic a CONFUSION such as we had
never had, that would shake public
and private credit to it's foundations.
Mr.. Grosvenor. of Pennsylvania. said
under ordinary circumstances he
would not favor either section of the
bill The Democrats were unable to
suggest relief for the treasury. The
president has proposed a gold bond,
but in the last Congress he could not
muster half of the Democratic vote to
stand bv him. The secretary of the
treasury was figuring how to meet
the appropria lions of the last Con-
2ress A bureau officer, a pestiferous
growth. had dared to set aside the
five million appropriation for the re-
LIEF of the sugar-growers.
Debs and his followers, to suppress
whom the military was called out,
had no more fagrantly violated the
law than had the secretary of agri-
cultures petty bureau officer in re-
fusing to carry out the appropria tons
of Congress after he had been rebul1ed
by Congress. But yet Democrats said
there was no lack OF money in the
treasury. He questioned the author
ity Of the president to make the bond
issues of the past year, and attacked
the arrangement with the Morgan syn
dictate.
But he said he was willing to vote
for this bill to save the administra-
ton from bankruptcy and disgrace,
because behind that administration
stood his country.
Want of Confidence.
Mr.. Patterson Oem. Tenn.) attribut-
ed the financial disaster that had over
whelmed the country to the want Of
confidence in a currency system which
carried $500 100000 of silver and $685.
100000 of greenbacks on the basis of a
gold reserve Of 500, 100000 a single de
claration of Congress that it intended
~ sustain t4If tOldlS lAiS S5OlA olSIlA4e'l0
of value would do more than anything
else TO restore confidence.
Mr.. Johnson (Rep. Cala.) was the
first Republican to oppose the bill.
His first sentence created a mild sem
sation.
AS a Republican" he began, 81
want to give some reasons why my
colleagues should oppose this most in
iquitOuS bill l believe in the underly-
ing hostility Of the Republican party to
any issue of bonds in time of peace and
I 90 not propose that We shall give the
lie to everything we said before the
election and l. for one, can never con-
done what | regard as an error both
of heart and head and crime against
the country-the bond transaction of
last year.
Yesterday he proceeded impetu-
ously, against my will and against my
judgment and protest, l voted for
revenue tariff bill. 1 believe that the
verdict Of 1894 was for the passa ge of a
protection tariff act; and we should re-
store the Mckinley bill and Bill Nc
Kinley."
After some further remarks by Mr..
johnson Rep. n. ID in favor of the
bill, and by Mr.. Wheeler Qem. Ala.}
against 1T, the House at o'clock took
a. recess until s o'clock.
Mr.. Wheeler Dem, Ala.), who had
the floor when the recess was taken,
resumed the thread of his argument
against the gold standard, and MI.
Terry Dem, Ark.) and Mr. Under
wood Dem, Ala.) followed with a SIM
liar argument.
Mr.. Wellington Rep., Md spoke in
favor of the bill.
Mr. Wilson (Rep., Ida.) gave his rea-
sons for refusing to act with his Re
publican associates. The strongest
ana best reason was that its sponsor
was President Cleveland.
Mr.. Daniels (Rep., N. ". like his
colleague, Mr. Johnson. opposed the
measure. It was based, he said. on the
demand Of the stock gamblers of Wall
street. 1t was stripped of all verbiage.
plain proposition to issue bonds. de-
Etroy the greenbacks and contract the
currency S546 600 goo. The bill ought TO
be entitled "a bill to retire Republican
senators and representatives in Con-
eress.'' O-4-
Mr.. Northway Rep. Ohio) asked whv
the Democrats Who were now onnosi-7-,
Ih5 bond issue had not repealed tbe
authority to issue bonds in the last
Congress They were then in power
and sat Supinely by while them. nraei-
dent issued 1852 600, 900 of bonds
Mr.. Henderson (Rep. Iowa. offered
I'VE reasons for his support Of the bin
tTst, that the bill did not reouire a
bond Issue; second, that if bonds were
issued the rate Of interest would be re-
duced; third, the bonds would be dis
trabuted among our people and not to
be left in the hands of foreign holders:
fourth, it did not retire the green
backs, but empowered the secretary of
The treasury to keep them out of the
possession of spectators when neces-
sary and fifth. it certainly prevented
The administration from selling bonds
60 meet current deficiencies.
Mr.. Shafroth CRep. Colo) concluded
the debate with a brief speech against
the bin, after which, at 10 p. m. the
House adjourned until tomorrow.
Ar,Tassodo- n.-s