The times. [volume] (Richmond, Va.) 1890-1903, 1895-02-17
VOL. .s-NEN SLRIkS NO 292.

Tho nroposition for the retirement or the
arecnbacks Is lost sight OF. The duty
which confonts us. / think. would be the
retirement Of the greenbacks. There Is
tho danger. There is the drain upon the
gold of the country. But that, 1t seems, is
Impossible. We can, however at least
take this step.
THE BEST CURRENCY IN THE WORLD.
We can, at least, assure the people or
this country; we can assure those from
whom we have borrowed money in
other countries that, although we are 80
tied by Disbursements that we cannot pass
the bills which are suggested we can, at
least. say 10 them: Take our coin bonds
we will pay them in the best currency
i'm the world. This resolution or mine
will do that. We gain nothing by trying
10 wreck the Government. Neither polit-
ical party can gain anything by bringing
on a financial panic and compelling US
again I'm the summer months TO come
back here 20 resume consideration OF tNa
question. / rcitcrate that | believe thaI
II is the imperative duty OF Congress 10
proceed TO take steps TO retire the green
back currency. Need ! argue before inns
Senate that this is one Of the pilhclpdi
difficulties that now confronts u.s.
Need | remind you that it Is because OF
the existence Of this Rrecnback currency
that the gold is taken out OF our treas
ury? The retirement Of the greehDdcks
IS the steL which we ought 10 take, bul
Sc IS the step which, / regret TO say II
seems impossible TO take, by reason VI
difficulties here difficulties in the olher
house and possibly diihcullleS Oh potlI
houses with the President. But If that
cannot he done. we can. at least, do these
two things-wc can declare that Congress
is not committed to gold alone; not com
mitted 10 silver alone. but that we STAND
whore We stood when we repealed lhe
purchasing clause Of the sherman act;
that we stand by bimetaliism. ana that
we will take steady steps towards the
maintenance Of that.
Further than that we declare that IL
our efforts shall fail, by reason OF
any OF these differences between the value
of gold and silver coins, we viii pay the
debts of the Government in the best
money We use.
''THBEsHING OLD STRAW.
Mr.. Wolcott Rep., Col) replied to the
speech Of Mr. Hin, which he charac-
torz,d as "threshing old straw Tne
House, he said, had Thursday disposed
50 far as this session was concerned-ot
the subject OF the issue or the endorse
meut OF gold bonds. Notwithstanding the
frantic efforts of tho Administration,
with all IT'S power and all its patronage,
Notwithstanding the efforts Of the lead
crs of both parties, the House OF Repre-
scntativos had, by a decisive vote, re-
fused TO sanction the policy outlined,
and approved by the resolution offered by
the Senator from New York, so that the
Senator was quite out OF date.
MT. WolcOtt asserted that no genuine
bi-mctallist had voted for the repeal Of
the purchasing clause of the sherman act
except, perhaps, two or three who had
voted in the belief. and in the shadow of
a hope, that a promise given by the Ad-
miuistratiOn would be carried out. so
that the repeal would be followed by some
fair measure for the recognition of sill
yer. lie felt no hesitation in stating now
that not one of those senators. in view
OF the digstors of the last year and a
half. would, If II were to be done again,
vote for the repeal OF the Sherman act
bad as that act was in principle and in
practice. she class of bi-metallists, Mr..
Wolcott added. in sneering tones, to
which The senator from New York be-
longs IS "bi-metallism on a gold basis.
re wants to use the two metals, but he
wants them measured by the value of
gold. He is a hi-metallist, because he is
a gold monOmetailist. Measured by gold,
ne IS willing that silver shall be used,
The Presidents wanton attack upon
the credit Of the United States has been
the most disastrous occurrence of tins
generation. II has been the most wan
ton and criminal ana deliberate attack
upon the credit of our country that could
be INDUCED in. our nest was befOuled
by the man who should nave stood for
our credit. The President entered into
a secret negotiation with the Rothschilds
OF Europe whereby he shall give them
'long bonds" at an excessive rate Of in
tercst, so that he can make an apparent
showing to the discredit of our country
and its finances.
But, even before the bonds are is
sued, the reaction has come. The sub
scribers of this syndicate are called upon
for only ten per cent of their subscrip-
ton The balance of it they will never
be called upon to pay. The syndicate
has already been offered 1l2 II for these
bonds: and the president of one of the
leading banks says that within ninety
days they will rise TO 120. If there ever
was a bond which ought 20 be paid in
silver or deprecated mOney-if it can be
found-it is this issue of bonds which
this syndicate has purchased at less than
its worth.
Mr.. Lodge held the point that the ques-
ton is not one Of bimetallism or par
ity. The point is that every obligation
of the United States where coin is nomi-
mated in the bond is payable in the
best money yes, in gold If the holders Of
them demand it. IL Is this position which
has always been held by the party to
which they belong. We have always
held that "coin" meant gold. and declined
to recognize any distinction. Ii has been
the expressed declaration of the Congress-
of the United States ! know that the
contract to which the senator from
Colorado refers has done more injury
than can be estimated TO what | be
lieVc to be the cause of sound finance. 1t
is on its face the blackest public con-
tract ever made by the Government of
the United States. Both those very
facts. that our credit has been assailed
by the President. that such a contract
has been made with syndicate Of
bankers, giving them an undue and gi-
gantic profit. seems TO be only more
imperative that the Congress of the
United States should say in language
which cannot be misunderstood that
every one of its coin obligations, whether
bonds or demand notes. payable, as they
were understood TO be issued, In gold, or
I'm silver, at the option OF the holder;
that is. in the best money; in gold, If
IL should be demanded. That, sir, Is
simply honesty.
DtFtNDED THE PRESIDENT.
Replying to Mr.. Wolcott's attack on the
President. Mr.. Hin said: ! know il has
been hippantly said here and elsewhere
that the President of the United states
should have done this and he should have
done that. and IL as been asked why dld
he not issue bonds for less term OF