St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-27
Patriotic Speech Of Senatoi
Hill Before the New York
Democratic Club.
SHOULD STAND TOGETHER
Republicans Should Not Be
Looked to for Relief
Measures.
LAY ASIDE GRIEVANCES
And Legislate for the Main
tenanee of Our Coun-
tpy's Credit.

New YORK, Jan. 26.-The Democratic
club was filled tonight with many
prominent Democrats to enjoy dinner
and hear, among other speakers, Sena-
tor David B. Hill. There were many
prominent persons present. President
John Fox presided and introduced Sena-
tor Hill, who said: 1.-The country is
now confronted WITH a steadily growing
deficit in the treasury, occasioned by
failure of the recent fiscal legislation to
produce the necessary revenues for tho
needs of the government. 1t is hoped
that difficulty will prove but temporary.
But what is to be done in the interim?
How is the credit of the government TO
be maintained and its liabilities liqui-
dated?
1.-The spectacle should no longer be
presented of a Democratic adminIStra-
| tion appealing 10 IA Democratic con-
gress for necessary legislation to Sc
cure funds to carry on the government
during temporary emergency and that
appeal made in vain. Why should we
put uuHCCOSodIJ UUo(dCIC9 IhS way
of a successful administration of the
government. or walt. talter, haggle or
do nothing, ami turn over DEM
ocratlc administration to the ten
der mercieS of an incoming Re-
publican congress for relief?
Such course from party standpoint
is suicidal, demoralizing, unpatriotic.
The simple legislation demanded
| ehn,,IA 40 falGp
untenable grounds; it should not be
confounded with other propose finan-
cial legislation which may or may not
be desirable; it should not he aSsOci-
ated with the silver question, with
which it has no connection, but IL
should be granted solely upon its merits
as necessary measure of relief to de-
pleted treasury and as an act of Justice
and propriety from Democratic cen-
gress to a Democratic administration.
,Tis u Sim pie Matter.
"Whether the moneys necessary to be
borrowed should be raised upon bonds,
treasury notes. eXchequer notes, certii-
Gates of Indebtedness or other means
which are usual or which may be de-
vSed, is matter of detail easily adj
justed, involving no essential principle
and which should not hinder or prevent
mo hostility to the present admnis-
tration, no political grievances and no
factional difference should be permit
ted to retard immediate legislation so
indispensable at this time for the main-
tenance of the credit and honor Of tine
government.
40 arbitrarily refuse such action
now unless some legislation for silver
shall precede, accompany or supple
ment it, and thereby compel The calling
of an extra session of a Republican con-
gress is the height of folly, only
! equaled by the opposition to the repeal
| of the Republican Sherman law in 1898
and the foisting of the PopuliSt income
tax upon the country in 1894.
In urging temporary financial relief
! | do not forget nor underestimate the
importance and desirability of some
legislation in behalf of monetary re-
form. We are ltlicted with too many
different kinds of currency, issued un-
der diverse and somewhat conflicting
statutes, possessing different qualities
and subserving different purposes, some
OF which is legal and some is not and
some is limited legal tender. The estab-
lishment OF permanent monetary sys-
TEN, adequate for the needs OF the
country, seems TO be urgently de-
manded.
Party of Hard Money.
"NeIther do we forget the fact that
the Democratic party is by tradition
| and interest the hard money party, the
party that believes In the money OF our
fathers, the money of the constitutions.
the money Of intrinsic value.
''Iu the carrying out of that policy
the gradual retirement and eXtinguiSh-
ment OF the United States notes COM
! monty known as 'greenbackS' Is an lIn-
portant, if not the first step, in the right
! direction.
They are not money according to
| the Democratic idea, bat only currency
redeemable in hard money. They are
| debt against the government which
! should be paid and cancelled.
"There is no time TO be lost. The
! moneys necessary for their payment
and eXtinguishment can be supplied
| through popular loan, with low inter-
| est and long time securities. IL is diff
| cult to discover why the true friends or
| free biGe.allic coinage in congress or
elsewhere should object to the elimina-
| ton of this greenback paper currency
which it is now so generally conceded
| should be cancelled.
Folly Of siiyerites.
.Yet most of the advocates of silver
| in Ongress, with characteristic unwis
| dom, seem to regard it as their duty TO
| antagonize every prac ical suggestion
| in aid of monetary reform unless 1t IS
! coupled with the full and instant relief
which they seek, declining even to as
| sist ia the very preparation which is ab-
sOlutely necessary for the eVentiul sue
cess OF their own proposition. They
| should be impressed with the fact that
the goal which they hope TO attain can
only be reached after adequate prepara-
tion. Revised laws. with a full treasury,
with competent administration and
friendly administration. 1t cannot be
done by magic. 1t will not come by
| miracle. 1t cannot be prematuTely
forced. The pathway must be cleared
for 1t. IL is business question, and it
must be solved according TO business
principles.
"In any event. see no objection to
the suggestion of the New York cham
Der of commerce for the appointment Of
a monetary commission composed OF e,
men OF experience in financial affairs,
men yerSed III monetary science, and
also practical men having no selfish in
terest to serve, q commission represent
ing all phases of the financial question,
in which the country will have conf
| dence, 10 report TO the next congress
a comprehensive system of national
finance. 1t at least can do no harm; IL
NAV be productive of niuch good"
Rohert r ROOSp Welt smoke on the cur,