St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-15

three-minute speech. argued in sup
port of the resolution.
Mr.. Coombs Oem., N. " also fa-
vored the resolution. He did not
know whether the secretary of the
treasury had made the
BEST POSSIBLE BARGAIN,
but he did know that the necessity
which drove him to obtain gold was
imperative.
Mr.. Bland, silver advocate, took the
floor, and in ringing sentences ap-
pealed to the house not to surrender to
the geld kings. If this resolution
passed, Mr.. Bland declared that the
government would forfeit it's right to
coin silver.
Mr.. Springer insisted that the only
question at issue was whether congress
would save to the taxpayers SIC, 1000, 900.
Mr.. Payne Rep., N. H. } said it
seemed that nothing had been left out
of the bond contract that was possible
to put in it to oppress the people.
w. A. Stone (Rep., Pa. said he
could not see why Republicans should
not vote for the resolution, although
they were not to blame for the bad
management that had brought about
the difficulty. To refuse to make the
bonds payable in gold would be to
spite the country.
Mr.. Bryan Oem., Neb) made half
hour speech against the resolution, the
passing of which, he began by saying,
would withdraw $165, 200, 900 from circu-
lation.
THE president of the United States"
he continued, lis a human being"
"Oh, no. shouted Mr.. Walker Rep.,
Mass.).
1.-The president is therefore liable to
err" added Mr.. Bryan, not needing the
interruption. HE has erred. The Dem
ocratic party owes him nothing. Dem-
ocratic applauSe.) 1t owes him only
the gratitude it would owe the guard
ian who has squandered a rich estate.
He seeks to inoculate his party with
Republican virus that his party may
die of blood-poisoning. (Applause)
Turning to the question at issue, Mr..
Bryan asserted it was a question. in
which was bound up the welfare of
mankind. Pass this resolution, he said,
and $16,0G0,000 would be saved to the
people in fifty years. Pass it, and they
would be robbed of SIG, 000 COO in third
of that time by the men in whose inter
est it was passed.
MIR. REED AROSE.
Instantly the hum of voices ceased
and a hush fell on the house. He said
in part: Whatever severity of criti-
cism is bestowed upon the present sit
uation, a greater severity of criticism
is to be bestowed upon the past, and
this agreement, presented here for the
inspection Of the house, is in accord, it
seems to me, with the government of
this country for the last two years. 1t
may be that I judge harshly. 1t may
be this agreement is the result of the
unfortunate condition in which the gov
ernment was found. 1t may be that no
guilt attaches to this except so far as
it is the result of causes which never
ought to have been set in motion
However it is, that contract is not pre-
sented to us for approval or disap-
proval.
"It is now proposed" continued Mr..
Reed, ''to reduce the rate of interest
provided in this contract, provided we
make the bonds sold payable in gold
That word is practically there now as
every one agrees. This resolution does
not involve the establishment of pol
icy: it is simply action, single trans
action of the government. Some tell
us it would govern all future tranSac-
tons, but do not believe that the sec
retary of the treasury would attempt
another such contract after his expert
ence with this. The policy of redeem
ing our outstanding obligations in gold
was established by a Democratic ad-
ministration. The bonds issued under
the contract made by Secretary Car
Isle were to procure gold. Does any
one imagine that gold will be refused
when they are redeemed? When Sec
retary Sherman issued bonds for gold
he announced that being issued for gold
| they would be redeemed in gold. The
trouble seemed to be that many did
not understand this. They did not
| treat the matter fairly when they
| spoke of it as affecting mono-met-.
| tallism or bi-metallism. A nation could
not be sued. But like a gentleman, it
had it's honor to preserve. 1t could not
act diShonorably.
! Mr.. Bynum Oem., Ind. combated
the statement by Mr.. Bryan that the
resolution would retire $65,000,000 in
! greenbacks, and the Democratic admin
istration would be sustained, no matter
| how fiercely the waves beat against it.
The debate was closed by Mr.. Will
son, who admitted that the contract
made by the secretary of the treasury
contained very hard terms for the gov
ernment but he believed those terms
were the best that could be obtained.
But congress could, by giving the sec
retary of the treasury authority to
write in the bond what the contracting
parties thought should be there, al
though all agreed that the bonds would
be redeemed in gold, save to the tax
payers $5O0,0 year.
In conclusion, Mr.. Wilson said no
matter how members might differ as to
financial opinions and acts of the sec
retary of the treasury, no one in the
house who had known him would dare
| question his integrity. This statement
was heartily applauded.
The speakers gavel dropped The
hour of o'clock had arrived, and un-
der the special order the clerk proceed
ed to call the roll on ordering the reso-
luton to its third reading.
POSTAL APPROPRIATIONS.