River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1895-02-21
THE BOND DEAL.
Senator Wolcott Declares It to Be
a Dishonorable Dicker.
Silver Senators Make Serious Charge
Against the Administration-Lodg
INDUCES I'm Strong Language
Hin Comes to the DE ense.

WASHINGTON. Feb. 19.-President
Cleveland and his secretary of the
treasury came in for the principal share
of the attention in the senate Saturday.
The debate was launched upon reso-
luton offered some days ago by SEN
ator Hill dem, \. W, declaring it
to be the policy of the government
to establish safe system of
bimetallism and to maintain gold and
silver at a parity; and upon substi-
tute for it offered by Sc uator Sherman
rep. o. making similar declaration
except that il asserts that policy to he
1.-THE established policy of the United
States"
HIn Speaks.
Senator Hill made an earnest and inn
passioned speech in support of his reso-
luton, stating that it was of supreme
Importance, at this hour that congress
should inform the country and the
world, that the policy of the United
States was not to maintain the single
gold standard or the single silver
standard. but the double standard, and
that (if parity could not always be
maintained) the obligations of the gov
eminent would be paid in the best
money in use.
Senator Hill spoke for more than
half an hour, and very earnestly. He
was followed by Senator Wolcott rep,
Coll who said that Senator Hill had
been ''thrashiug old straw" The
house. he said, had disposed Friday
so far as this session was concerned
of the success of the issue or indorse-
ment of gold bonds.
wolcott Attacks the President.
'The presidents wanton attack on the credit
OF the United States" Senator Wolcott de-
clared plssionately. has been the most disas-
trous occurrence of this generation Our nest
was befouled by the man who should have
stood for our credit"
Again Senator wolcott said: THE presi-
dent entered into a secret negotiation with
the Rothschilds. of Europe, whereby he
should give them long bonds at excessive
rates. to the discredit of our country aud its
finances"
The 4 per cent. bonds. which had just been
sold to the syndicate. we're now selling he said,
In New York at li21s and would be selling
within sixty days at 100 He believed that the
suffering and poverty which prevailed all over
the world would never cease until silver as
well gold was made the standard OF
value. III" Senator Wolcott said in conclu-
sion. there is anything that viii arouse the
American ptOnsb TO Tue utittl tudL we Tan
alone undertake the management Of our f.
nances without the help of foreign bankers. IL
has been that disgraceful and dishonorable
dieker with the Rothsehilds."
Senator Lodge rep. Mass.l advocated
Senator Hills resolution, the point of
which. he said, was that every obliga-
ton of the United States where coin
was named in the bond is payable in
the best monev-in gold or silver-as
demanded. AS to the recent arrange
ment with the syndicate, he denounced
il as 1.-THE blacklist contract ever made
by the government of the United
States"
Hin Defends the President.
Senator Hin replied to Senator VOL
rott and defended the president from
the charges made by the senator from
Colorado. Mr.. Cleveland had his faults,
Senator Hill said, but there was moth
ing to justify the statement that he
had paid higher rate of interest in
his bond contract than he was COM
PEELED to pay.
At ? o'clock the agricultural bill was
laid before the senate, but Senator
Teller, speaking ostensibly on the bill,
proceeded to make a financial speech.
Teller CriticIses hin.
Senator Teller declared that for the
last ninety days a prearranged effort
had been made to put the country on
gold basis, so that il could not
get away from it. The senator
from New York had taken part in that
effort. He declared that this effort
had been in the direction of putting
gold at a premium. There had vir-
tually been conspiracy to this pur-
pose, and. with this accomplished, the
plan would be TO require payment
alone in that money. He continued:
1.-The New York senator te Is us he is not q
defender Of The president BE that as II may,
he is the only senator who has a reso-
tuition, since the terms OF the late con-
tract were announced, telling the people
that IT is an honest transaction and that
IL is the best that could have been
done. The senator from New York
Is noted for his courage, but 10 takes higher
degrees of courage than he has shown in any
thing else to stand Oft IN defense OF a transact
ton which puts our securities at a lower rate
than those q Egypt, and when he says that no
senator can decently criticise the transaction
/ want to say that his ideas and mine differ as
to what decency is.
Administration Arraigncd.
Continuing Senator Teller declared that as
q senator ne construed IL to be his duty to
protect the reput tlon and the interest of he
Unitef States. and he declared: 1t l. the
first time in the history of the administra-
ton affairs that the people had ground for
charging absolute dishonesty" He said.
however. that he did not charge that the pres
ident or the secretary OF the tire sury had
prohted pecuniarily by the transaction. He
could not however, conceive what had iuhu-
enced their course except an undue desire TO
acquire authority for gold bonds Senator Teller
bitterly arraigned the administration In its
dealing with foreign bankers