The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-04-26
FRIDAY. APRIL &c, 1895.
KYLE ON CONGRESSIONAL AFFAIRS.
What has Congress done7 we asked

last, IN which they showed the necessity
OF exerting Wall Street influence to Sc
cure currency reform according to Wal
Steeet'sideas by eliminating the work ano
influence OF silver and fiat none luna
tics in Congress. Senator Sherman IN 8
speech at the specialsession inadvertent.
~ outlined the program Of the money
power, which was to retire nearly $780,.
100000 insecure currency namely
$3.50 900 greenbacks and about
$500, 600, 900 silver and silver cert,6-
Gates and thus make the currency sc.
G ure by getting on a gold basis. Their
plan was LIST. Repeal OF the silver pur-
chasing clause of the Sherman law.
End. Issue $500. OOO,O gold bonds
3rd. Retire the greenbacks.
The first part of the program was
carried out and u desperate attempt
was made to secure congressional auth.
Ority to Issue the bouds and failing in
that the ADMINISTRATION made use of the
law of 1879 to issue the bonds. The
money power has not by any means
gwen up Legisla ton, withouta doubt a
bill will be introduced into the next Con-
gress looking to the retirement of the
greenbacks, but there is absolutely no
chance for its success.
There are so silver senator's In the
next Congress and a silver majority in
the next house. l look for the nextCon-
gress to pass Il free coinage silver bill
aud SEM to the president for his slnag-
ture. OF course Mr. Cleveland will veto
it and then Wall Street in deportation
will urge him to issue the full amount of
bonds demanded to provide themselves
against a day Of evil when the silyerite
cranks will have possession OF the
country.
We were able to defeat the schemes
along this line, and financial matters
occupied the attention OF Congress to
the exclusion of most other things.
There were also two important rail
H# :. =. 49,. Hs
way bills, the Pacific railway funding
bill and the pooling bill, which were both
defeated. This al brought about
largely by the unblushing lobbying ofthe
railway companies who sent their at
torneys onto the very floor OF Congress.
The affect a nauseating and bad
much to do with the defeat OF the bills.
The funding bills provided for the extern
sion OF time on the government mort
cages for so years or more at three per
cent interest. This failed and it was
then-at last-to paw the principle of
the debt if the interest payment could
be extended so years. This was also re-
iected. The California delegation was
unanimous in their Opposition to the
bill. The pooling bill was all amennd-
ment to the Interstate commerce law
permitting the companies to pool their
srning and establish uniform rates.
The LOBBY was particularly strong on
this bill. At one time there were IL. pri-
vate cars Of railway presidents on the
Washington sidetracks which had
brought Influential lobbyists to the
Capital. They we're not ordered off the
grass either but were admitted to the
very floor Of Congress. One railway at
torney sat beside the congressman who
had charge OF the bill and coached him
while he was addressing the bill. Th,
bill passed the house and was reported
favorably to the senate and only failet
through lack OF time. In my opinion
the railway influence in the senate wa
strong enough to secure for it q majorlt'
but the ~populists and California sena