The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-15
THIRD ATUEMPT
IS A FAILURE
Continued from Page ID

put the word gold into every bond
To q Silver RaRts.
The bondholder was directly interested
in driving this country TO a silver basis
and sending gold to a premium me
ROthSchildS. by this means, could donple
Folger had extended the vast sum OF
$500 900. 900 four-per-cent. bonds at per
cent. in the open sunlight before inc
American people (Repubhcan applause
had before been made in the open InarkeL
With the American people in the light OF
day; they had been made for ten years
at less than 8 per cent. Now, there had
been made a contract with a foreign syn,
dictate by which the government recelFed
$4,000 less than similar bonds were sell
ing for in the open market on the very
day the president had sent his co CO. IL q
to Congress with the bride of $50 00VJ TO
get its consent. A secret loan was neSo.
tiatdd for higher rates than any cIvillZeu
way, or any other country.
g. The president said the speaker,
'penned this message not OF, from pa al,o ;
alone. He wanted to throw the RESPONSE
bility on Congress of making this loan
negotiated by his former law partner; >
hope f speak aa TOR for the 9 entire aie Republican
side and the great mass of the Demo-
cratic party, that I cannot be made par
ticipis crirninis to this attempt Of the
PRESIDENT to prostitute the, financial
standing of this great country"
But One Answer.
Mr.. Cox Democrat), of Virginia-How
does it happen that by this contract this
syndicate viii have an option on future
bond issues by the government?
Mr.. .HOpkins-Nobody but this syndicate
and the president can answer that. loud
Mr.. Powers Reuublican). of Vermont,
sent to the clerks desk an amendment
providing that nothing in the resolution
should be construed az changing the
/ ayowed policy of the government to pay
all its outstanding bonds in gold.
Mr.. Hopkins then yielded to Mr.. Can
non Republican), Of Illinois. He 5ketched
tempts made to pass legislation for the
relief Of the treasury, saying the pre5i-
dents last message was responsible for
the Springer bills Second birth" He
denounced the contract made by the sec
rotary of the treasury, and Avhen he ex-
/ pressed the opinion that had Republi-
can secretary of the treasury made the
contract this Democratic House would
have impeached him, the Republican side
gave him round after round of applause.
Opposed BY Grosvenor.
| Mr. Grosvenor (Repubhcan), Of Ohio,
member Of The Ways and Means Com
mittee, opposed the resolution. Address
ing himself to the charge that those who
were opposing the resolution were aiding
TO destroy the honor, credit and integrity
of the government, he pointed out that,
without consultation with Congress, the
secretary of the treasury had privately
entered into a contract with the Roths-
chtlds of Europe and the Morgans here
to purchase gold with the coin bonds Of
the government at a rate Of interest al
most one per cent higher than the last
bond issue, and now gave Congress the
option Of substituting for these coin
, bonds gold bonds at per cent.
! The only alternative offered Congress
was to go back on established pre-
cedent of the government and authorize
gold instead Of coin bonds. Neither the
honor. credit or integrity of the govern
ment was involved. This was an attempt
to force a revolution in our financial pol
icy If gold bonds we're issued at the de-
mand of Lombard street never would an
other coin bond be issued by the govern
nent Then what was to become Of the
millions Of coin bonds sold to our own
people? Their value would depreoiate.
This was a resolution to depreciate them,
ana he would never vote for it. (Repub-
Mr.. Daniels Republican>, of New York,
in a three-minute speech, argued in sup
port Of the resolution.
Favored BY Coon,Es.
! Mr.. Coombs (Democrat>, Of New York,
also favored the resolution. He did not
know whether the secretary of the trea-
sury. had made the best possible bargain,
drove him to obtain gold was imperative.
Had gold not been arranged for the trea-
sury would have been stripped to its last
gold dollar before next Saturday, Under
such extraordinary conditions. an extra
ordinary contract had been made.
Mr.. Bryan was then recognized to con-
troll an hours time, in opposition to the
Mr.. McMillin (DemocraD, Of Tennessee.
who gave his reasons why he preferred
at this time to foreso the opportunity to
Snn
charges To do so would be to discrim-
mate against those of our own people,
who. in the dark hour Of their country S
distress, took the governments bonds
and kept the governments obIiSat tons as
good as gold. Those people. or others
like them, will continue to keep their
countrv's credit good and all the powers
of earth or he'll cannot prevent it. ZAP
plause.)
Quotes HoOh.
Mr.. Livingston Democrat, of Georgia,
created an amusing diversion by sending
to the clerks desk and having read amid
roarS Of laughter. some extracts from
Hoods Poems.
l4The Golden Ass, or Golden Bull
Vas English John with his pockets full,
"Then at war by land and water,
'tWhile beef and mutton and other meat
Were almost as dear as money to eat,
land farmers reaped golden harvests Of
AT the Lord knows what per quarter
F =
lines of the moral beginning:
! Cold, Gold, Cold,
s '.Brisht and yellow, hard and cold.
/ Heavy TO get and light to hold.
"Hoarded and bartered, bought and
sold"
) Mr.. Simpson opposed the resolution In
q short speech.
After some further remarks by Messrs.
Hulick Republicanl, OF Ohio, Wheeler
Democrat), of Alabama, and Northway
R9puRlca9). OF Ohio against the bill.
Mr. Rland, the silver advocate, took the
floor and in ringing sentences appealed to
the House not to surrender to the gold
Nngs IL this resolution passed Mr..
Bland declared that the government
/ Question at Issue.
! Mr.. Springer insisted that the only
question at issue was whether Congress
would save TO the taxpayers $500 600.
Mr.. Turner Democrat Of Georgia a
member Of the Ways and Means Com
mtttee, yielded to by Mr. Reed. made a
strong speech in favor of the resolution,
the burden Of which was. that it was the
duty OF the government, under its plight
ed faith at whatever cost. to maintain
the parity of all it's currency
Mr.. Hatch (DemocraD, of Missouri, in
a fve-minute speech, aroused the cur
rency opponents of the resolution to
great enthusiasm. He had but little
time he said, to explain why he was ia
be a pall-bearer at this financial funeral
In a word, it vas because the passage OF
this resolution would make every debtor
in the United States pay his debt in
ton. letter addressed by eX-Governor
Proctor Knott, of Kentucky. to Senator
Blackburn DemocraD. Of kentucky. in
Which Mr.. Knott characteriZed the pend
mand of the oddities"
"They DO not geern to want to leave
us a hereafter, Whenever the govern
ment agrees to pay gold. silver is doomed
for all eternity. As Judge Forbes said tc
Johnny Moore. Goodbye world; howdy,
hell" Qaughter)