St. Paul daily globe., 1895-12-28

had held to be valid He charged the
Republicans with shifting their posi-
ton on the currency question, as they
had yesterday on the tariff question.
He pointed out how the Republicans
in the past had denonetized silver and
had passed an act for the resumption
of specie payments which contemplated
the total retirement of the greenbacks.
Now, in the face of the presidential
election, they sought to curry favor
with the silver sentiment, and they
dared not retire the greenbacks, to
which they had once become commit
ted
NOT THE RIGHT REMEDY.
This bill would prove Inadequate.
Gentlemen on the other side spoke of
what they were doing to aid the ad
ministration. Yet, with all their osten-
tatious magnanimity, they refused the
Democratic side, which was supposed
to be to some extent in harmony with
the executive, the poor privilege OF OF
fering a remedy which the administra-
ton believed would be effective. our
paper money should be retired. Mr.
Turner was very earnest in ms pro
test against temporizing with the sltu-
alton. 1t would only prolong and in
tensify the difficulty. Any settlement
on the basis of sound money would
procure the most beneficial effect here
and on our securities abroad. Mr.. Iur-
ner affirmed most positively tHat IN
the existing state of the market . per
cent coin bends could not be Hoated,
and in conclusion he said be had once
believed that the secretary or the treas
ury, by exercising the option OF re-
demption in silver, could repel falo'
On the reserve, but he now belleVeu
-s7rr}, 2 course would precipitate crisl3,
q r.nnic. q convulsion that would snake
u,fhlfa and private credit to It's founoa-
tinrs. 4bo+
Mr. Grosvenor Rep., Ohio) said that
IKE adnissibility OF the passage OF the
ffII must be considered in the hshl o.
the events which called it into existence:
Tnder ordinary circumstances ne Would
not favor either section OF the clii. Inc
democrats were unable to suggest re-
1;ef FOR the treasury. The president
had proposed a gold bond, but IN TIE
last congress- could not muster half the
Democratic vote to stand by him. lie
secretary of the treasury was nguflhs
how not to met the appropriations OF
the last congress. A bureau officer,
uestiferous growth, had 0afeu TO set
aside the five million appropriation 1oI
the relief of sugar growers. oeps anu
his followers, to suppress whom the
military was called out, had no more
fiagrantly violated the law than had
the secretary of agriculture, petty
bureau officer. in refusing to carry out
the appropriatiOns of congress after ne
had been rebuked by congress. YET
Democrats said there was no lack OF
money in the treasury. he questioned
the authority of the president to MAKE
the bond issues of the past year ana
attacked the arrangement with the Nor
ean syndicate. But, he said, he was will
ing to vote for this bill, to save the ad-
ministration from bankruptcy and dis
grace. because behind that adrnln1Stra-
ton stood his country.
WANT OF CONFIDENCE.
Mr.. Patterson Dem, Tenn) attribut-
ed the financial disaster that had over
wheimed the country to the want OF
confidence in currency system Whlch
carried 5C0,000,0 900 of silver and $346,-
coo 900 of greenbacks on the basis OF a
gold reserve Of 00,000,000. A single
declara ton Of congress that it intend
ed to sustain inviolate the gold stand
ard of values would do more than any
thing else to restore confidence. He
ridfculed the idea of passing bill for
an authorization Of coin bonds at such
a time.
Mr.. Swanson Dem, Va) criticised the
method by which the tariff Dill or yes
terday was passed and by which 1t was
proposed to pass the pending bond bill.
He expressed confidence that per cent
coin bonds could be f1oated among the
people of the country, and denounced
the "disgracefuP' contract with the
Morgan syndicate last year. In view Of
the rumors that were abroad regarding
the irnminence of another bond issue it
was important that the impending
measure should pass at once.
Mr.. Johnson Rep., Cal.) was the first
Republican to oppose the bill. His first
sentence created a mild sensation.
'As a Republican" he began, II want
to give some reasons why all my col
leagues should oppose this most iniqui-
tous bill. I believe in the undying hos
tility Of the Republican party to an is
sue of bonds in time of peace and I do
not propose that we shall give the lie
to everything we said before the cleo
ton, and I, for one, can never condone
what regard as an error, both Of heart
and head, and a crime against the coun-
try-the bond transaction of last year..
Yes" he proceeded, against my will
and against my judgment and protest.
I voted for a revenue tariff bill. l be-
lieve that the verdict of 1894 was for the
passage of a protection tariff act, and
we should restore the Mckinley bill and
the Bill Mckinley"
AFTER some rufther remarks Dy MI.
Johnson Oem., Ala.) against it, the
house took recess until o'clock.
FOR WALL STREET.
Mr.. Wheeler Dem., Ala.), who had the
floor when the recess was taken, resumed his
argument against the gold standard, and Mr..
Terry Dem, Ark, and Underwood Dem,
Ala.), followed with a similar argument. Mr.
Wellington Rep., Pa.) spoke in favor Of the
bill.
Mr.. Wilson Rep., Idaho gave his reasons
for refusing to act with his Republican asso-
ciates. The strongest and best reason was
that his sponsor was President Cleveland
It was not a Republican measure. No plank
IN Republican platform, state or national
could be cited in support of it. The demand
for it came from the stock 1obbers of Wall
street. whom the title Of gambler would
dignity.
Mr.. Daniels Rep., N. " advocated the
bill.
Mr.. Bowers CRep., CALI, like his colleague,
Mr.. johnson, opposed the measure. 1t was
based, he said, on the demand of the stock
gamblers of Wall street. 1t was, stripped of
all verbage. a plain proposition to issue
bonds, destroy the greenbacks and contract
the currency S346, ,00O, 900. The bill ought to
be entitled "a bill to retire Republican sena-
tors and representatives in congress"
After number Of speeches for and against
the bill, the house at 10 p. m. adjourned till
tomorrow.
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