The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-17

-@----
Lincoln, Neb.. Jan. 16.-The two
houses of the legislature met in joint
session today at noon and declared
John NJ Thurston elected United
States senator, to succeed Charles f.
Henderson.
A committee of five conducted the
new senator to the platform. Mr..
| Tlurston said:
Gentlemen of the Joint Convention
Words are impossible in which to ad-
leQuately express my heartfelt graft
| tude for the great honor you have so
generously bestowed upon me. 1t will
be my ambition, as your representa-
tive, to retain and merit the full meas
ure of that confidence, friendship and
esteem with which 1 am so sfgnally ia
vored
IF the Republicans can secure the
necessary votes, they should organize
both branches of Congress and fear
! lessly assume the responsibilities of
| Legislation. The Republican, party has
always had 1.-THE courage TO fight in the
open field, and its ultimate object
Should not be party success, but the
welfare of our country. L am in favor
of THE speedy enactment of a protec-
| tive tariff law modelled. upon the gen
eral lines of the Mckinley act and
lembodying the reciprocity ideas of
James G. Blaine. 1t is my profound
conviction that the prosperity of this
country and its people, especially of
| it's industrial masses, depends upon
! the broadcast application of the Amer
| lean idea, that whatever labor is to be
done for tine people of the United
States shall be done by the people Of
the United States, under the Stars and
| Stripes, and that the prices of the pro-
ducts of American labor shall be fixed
by American conditions and American
competition.
Views on Finance.
"My general views upon our f1nan-
cial situation are as follows;
.Our people have been too anxious
| to pay off in a single generation 'the
great war debt. Our gigantic pay
nsnts have taken too much Of the
gold out of the country. For the pres
emit, ait least, we Should he SatlsHeo
with Legislation under which we can
refund our outstanding bonds at Che
! lowest possible rate of interest, 4eaF-
| ing further payments OF pr-nclpa4 10
| a, more prosperous and favorable time.
vvorld nut a stop to the outflow of
gold from the treasury, first by re-
ouiring that an import duties should
| be paid in gold at the option OF Fhe
t7-aalSllrer> of the Unated states, ana,
second. by insisting upon the rlSht o.
re3pn1rtiCn, in either gold or silver, OF
outstanding notes, whenever II De-
| comes. apparent that redemption Is pe-
ing demanded for speculative PuL-
noses In my Judgment, we can pet
| ter afford to have god at premium
than prosperity at 2 dEscoutE; ,-
ing schemes which have been proposeu
Inv fine dominant party in Congress;
/ M hank in the United States Shoulu
| no ,1e,,roatted to issue a single doIIa1
until its redemption IS July seculeu
bv the deposit of government pol. .I,5
| in the national treasury Inele SIlottlu
he no resurrection of wildcat money
Nv the general government or by amy
sfalte i'm the union Our nationas bank
| ing system should be preserved. ~
! ia the hest that human ingenuity could
devise. ! favor amendments, however,
| in the following particulars:
| Low Interest Bonds.
The substitution of a low interest
bond as security for the natlollssi pans! Dams
| issne-tjhis substitution would OF useh
refund to that extent the government
bonded tedness-authoflty 10 rs.
| s11n hank notes to tine full amount Oh
! tge bond deD0sft; the collection OF a
lax ON the entire authorized issue, and
the imposition OF heavy penafIy or
forfeiture of charter for tdllure 10
keep it all in circulation.
| do not agree with those who would
retire our greenbacl5. and treasury
! notes. ! am in favor OF Keeping eV-
| erv one in circulation. And there can
! he mo danger in doing so if we VIII
adopt the policy already stated OIL
meeting all such demands for redemp-
| zion nv tender of either gold or silver
at the option of the government an
accordance with the specific terms Oh
| the contract.
Eavors American Bimetallisni.
ann in favor of American bimetal-
ism and in this the United States
| 5hol1Id lead the world. l do not admit
the claim 50 persistently made by ad-
| Hroca,tes of free and unlimited coin
age of silver, mat our p, pIese 3Il ef 5o
are the result Of so-called silver de-
MIN etiZation; nor do 1 beEeve that the
decentralization Of silver would pro
duce any startling changes in exist
| ing conditions l am satisfied, now
| ever. that the demonstration OF one
! half of the world supply VI Llc dlIA
MAZE money of redemption was not
for the best interests of tine people OF
the world, and i think we should DO
| everything in our power to hasten Inc
return of bimetailism among the ma
tons of the earth.
To those who fear the effect OF tne
| American silver coinage L have TINS
We are not realizing financial pros
lperitv under existing gold 1nOnometa--
ism and it is worth on while to try
lthe experiment of a return TO Dimetai-
llism. Legislation to accomplish TINS,
Should. however, be carefully considered
and wisely guarded, and the minis OF
the United States should not be opened
to the silver product of any other
country until these great nations are
ready to join us in International hi
ImetaEism AS a minor measure, | favor
the retirement of all bills of a less de-
nomination than $40, thereby bringing
| silver coin into general circulation end
use.
| l know of no reason why the United
States should surrender its claim
against the Pacific roads if it can en-
force ultimate collection by a series of
annual payments, guaranteed by rea-
isonable security. 1t is urged, and quite
Ip.ausibly, that such an extension of the
ldebt would compel the people of the
west TO pay increased tariffs in order
TO enable the Pacific companies to meet
1.-THE government requirements. I'm my