Evening journal., 1896-01-04

banker was to obtain 81, 600, 600 commits
sion for floating the contemplated loan Of
500, 0OO 600. This was exclusive Of the
sums that would be made in reselling tho
bonds to private investors The people
were unable to comprehend such reckless
and wanton waste of millions. Ho. did
not mean to criticise the president, the
secretary Of the treasury or the syndicate,
which was simply taking advantage OF
an opportunity, but he insisted that the
people would take these bonds at much
higher figures than those paid the govern
ment by the syndicate. The proposed
loan had been oversubscribed many mil
lions
1t was proposed to sell these bonds at
1O4lS. Similar bonds are quoted in the
open market at 1l7ll. The credit of the
country was unassailable. The per capita
debt of Great Britain was $50, Of France
SIG, Of the United States but Sl4. We
were immeasurably the richest country OF
the globe. The Rothschilds, the Morgans
and the money changers of the world
should not have us by the throat.
Il desire q vote on this resolution, " said
Mr.. Elkins in conclusion.
"But this resolution was taken up
merely to permit tho senator to make
speech, " said Mr.. Hill.
"I move TO proceed to the consideration
Of the resolution, " said Mr. Ekins
Mr.. Hill sought 10 object, but was cut
of by the vice president ruling that the
motion was not debatablo. Thereupon
the vote was taken, resulting in an over
whelming affirmative vote favorable to
proceeding with vote on the Elkins reso-
luton, only six senators being recorded
in the negative. Those voting in the mega
tive were Mossrs. Brice, Caffery, Chiffon,
Hill, Mitchell of Wisconsin and Murphy.
M. Hill Moves to Refer.
Mr.. Hill at once moved to refer the res
olution TO the finance committee.
LET us vote on that now" said Mr..
Teller.
'No, not just yet, " responded Mr.. Hill.
''There can be no vote on this resolution
for tho present.
Mr. Hills deliberate assertion sent a
smile around the chamber. The resolu-
tion, already passed for an adjournment
to Tuesday, made &c readily possible TO
prevent q vote on the resolution by debat-
| ing it at length. Mr. Hill proceeded to
debate the resolution. He declared It to
be futile movement, which could have
no moro effect than the pope's bull against
the comet.
Why should the senate attempt at this
moment Of financial embarrassment fur
ther to tie the hands Of the executive au-
thorityg Mr.. Hill said he had no special
sympathy with those money syndioates in
New York city. He contended that this
method Of sale Of bonds to syndicates was
not new. Under n Republican admins
tration, in 1878, a bond sale OF this nature
was negotiated.
"But there was 30 days notice Of sale F"
interrupted Mr.. Elkins
"And within that 80 days, added Mr..
sherman, "the public instead of bankers
took the bonds"
Mr. Hill declared that banks and syn
dioates frequently pushed forward the
public" to disguise their own transactions.
The senator read in detail the bond con-
tract made in 1878, TO which tho names
Of the SeligInans, Belmonts, Morgans and
the representatives OF the Rothsohilds
were appeBded.
And who was the secretary OF tho
treasury az that timeg asked Mr. TIrpie.
1T was that distinguished public man,
the senator from Ohio--JOhn Sherman,
responded Mr.. Hill, with great vigor
"Who arc the mon in this present syndi
cate?' asked Mr.. Hill. who is this Mr.
Morgan, Of whom vo hear 50 muchS Il
be not the Mr. Morgan who furnishes tn
sinews Of war to the Republican party
There was no reason 20 believe that tn