Omaha daily bee., 1895-12-28

Yer or other collateral questions. MT. Ding-
ley. In answer 10 many questions, claimed
a 9 per c Mt bond would be taken by the
people much more quickly than a I per cent
bend on a : per ognt basis. He said the
people as a rule were not disposed TO pay
premiums.
DEMOCRATS D1sCLAIM RESPONSIBILITY.
Mr.. Turner OF Georgia opened for the
minority. lie contended that the fault did
not lie in any deficiency In the revenues.
but in the existence Of evils In our financial
system, for which tn democratic party was
in no wise responsible. The fundamental
evil was the existence in our currency sys-
TEN OF the enormous mass of uncovered paper
money, which the supreme court had held to
be valid.
He charged the republicans with shifting
their position on the currency question, as
they had yesterday on the tariff question.
lie pointed out how the republicans in thu
past had demonetizsd silver and had passed
an act for the resumption Of specie pay
ments which contemplated the total retire
ment Of the gr enbacks. Now in the face
OF the presidential election. they sought to
curry favor with the silver sentiment, and
they dared no. retire the greenbacks, to
which they had once ben committed This
bill would prove inadequate. Gentlemen on
the other side spoke Of what they were doing
to aid the administration. Yet, with all
their ostentatious magnanimity. they refus d
the democratic side, which was supposed
to be to some extent in harmony with the
executive. the poor privilege of offering
a remsdy which the administration believed
would be effective. Our paper money should
be retired.
Mr.. Turner was very earnest in his protest
against temporizing with the situation. 1t
would only prolong and intensity the ,difi-
Guilty. Any settlement on the basis of
sound money would procure the most benef-
cent effect here and uphold our securities
abroad. Mr.. Turner affirmed most positively
that In the existing state of the market 3
per cent coin bonds could not be foated. In
conclusion he said he had once believed that
the secretary of the treasury, by exercising
the option Of redemption in silver. could
repel raids on the treasury, but he now
believed such a course would precipitate a
crisis, a panic, a convulsion such as we
had never had, that would shake public and
private credit to its foundations.
HOLDING UP APPROPRIATIONS.
Mr.. Grosvenor Of Ohio said that
the ACCESSIBILITY Of the passage Of the bill
must be considered in the light of the events
which called it into existence. Under ordi-
nary circumstances he would not favor either
section Of the bill. The democrats were un-
able to suggest relief for the treasury. The
president had proposed a gold bond, but in
the last congress could not muster half of the
democratic vote to stand by him. The secre-
tary OF the treasury was figuring how not to
meet the appropriations of the last congress.
A bureau officer, a pestiferous growth, had
dared to set aside the IS, 900, 900 appropri-
alton for the relief Of sugar growers. Debs
and his followers, to suppress whom the mill
tary was called out, had not more fagrantly
violated the law than had the secretary Of
agriculture's petty bureau officer In refusing
10 carry out the appropriations of congress
after he 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 and attacked the arrangement
with the Morgan syndicate. But he said he
was willing to vote for this bill TO save the
administration from bankruptcy and disgrace,
because behind that administration stood his
country.
trlbuted the financial disaster that had over
whelmed the country to the want of conf
dence In a currency system which carried
$500, 0OO, 900 Of silver and 1916, 600, 900 OF
greenbacks on the basis of a gold reserve Of
500, 200, 900. A single declaration Of congress
that 1t intended to sustain inviolate the gold
standard of value would do more than any
thing else to restore confidence. He rldiculed
the idea Of passing a bill for an authorization
of coin bonds at such a time.
Mr.. Swanson, democrat of Virginia, criti-
cised the method by which the tariff bill Of
yesterday was passed, and by which 1t was
to pass the pending bond bill, with
out opportunity of amendment.
Mr.. Lacey, republican of Iowa. spoke in
favor of the bill. He expressed confidence
that 3 per cent coin bonds could be floated
among the people Of the country, and de-
nounced the "disgraceful contract with the
Morgan syndicate last year." In view of the
rumors that were abroad regarding the i'm
minence Of another bond issue, 1t was i'm
that the pending measure should pass |
at once.
Mr.. johnson, republican Of California, was
the first republican to oppose the bill. His
first sentence created a mild sensation.
CREATED A SENSATION. |
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give some reasons why all my colleagues |
should oppose this most Ubiquitous measure.
I believe in the undying hostility of the re-
party to an issue Of bonds In time '
peace, and I do not propose that we shall
give the lie to everything we said before |
what regard as an error both of heart and
head and crime against the countryside
bond transaction of last year. Yesterday"
he preceded impetuously, against my will
and against my judgment and protest, /
voted for a revenue tariff bill. l believe that
the verdict Of 1894 was for the passage of
a protective tariff act; and we should restore
the Mckinley bill and Bill Mckinley"
After some further remarks by Mr.. John
son. republican Of North Dakota, in favor
of the bill and Mr.. Wheeler, democrat of
against it, the house, at 5 o'clock
took a recess until 8 o'clock.
HARD WORDS FOR WALL STREET.
Mr.. Wheeler, democrat of Alabama, who
had the floor when the recess was taken, re-
3umed the thread of his argument against
the gold standard, and Mr.. Terry, democrat
Of Arkansas, and Mr.. Underwood, democrat
IF Alabama, followed with a similar argu-
nent. Mr.. Wellington, republican of Mary
and, spoke in favor of the bill. Mr.. Wilson,
'epublican Of Idaho, gave his reasons for re-
'using to act with his republican associates.
The strongest and best reason was that its
'ponsor was President Cleveland. 1t was not
republican measure. No plank in a repub-
lean platform, state or national. could be
,lted In support Of 1t. The demand for 1t
'ame from the stock jobbers of Wall street,
whom the title of gambler" would dignity.
Mr.. Daniels, republican of New York. advo-
the bill. Mr.. Bowers, republican of
like his colleague. Mr.. Johnson.
opposed the measure. 1t was based, he said,
IN the demand OF the stock gamblers of Wall
treet. 1t was, stripped of all verbiage, a
lain proposition to issue bonds, destroy the
,reenbacks and contract the currency $780,
zoe. 900. The bill ought to be entitled, "a
ill to retire republican senator's and repre-
In congress-"
Mr.. Adams. republican of Pennsylvania, de-
lied that the demand for the passage of
his bill came from stock spectators. 1t
he maintained, from the solid. con-