The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-06-03

sideration Immediately after the passage
of the bond bill To this, however, Sher-
man objected until SOME arrangement was
made for a vote on the filled-cheese bill.
"If the Senator from Ohio" said vest,
wants to take the responsibility of OBJ
iecting he can do So but he will get no
agreement about the filled-cheese bill. l
give notice that l will move 10 take up the
veto message tomorrow morning"
Allison proceeded with his argument
against the bond bill. That bill, he said,
was simply declaration which had the
effect and purpose only of repeating the
existing power given to the President in
the statutes to borrow money. He said it
never was the intent of the resumption act,
or of any subsequent statute, or of anybody
in the United States, to dispute the mani
fest meaning of the law, which was, first,
that the greenbacks should be reissued,
and second, that they should be redeemed
in coin. The law of 1875 gave to the Presi-
dent the power to borrow money. The
experience of the preceding eighteen years
had taught the people of the United States
that the credit of the Government was
precious boon, which ought not 20 be
lightly interfered with or lightly trampied
upon. The currency, he argued, must
have a reasonable stability. 1t would
therefore be apparent 10 every Senator
that 1t would be most unwise and urlust
thing to all the people of the United
States to run the slightest risk of
relapse into The condition in which
the country labored between 1861 and
1879. As to the seigniorage from silver
A ~, SO,-a
could only arise after the silver was
coined, that with the present mint
capacity not more than forty or fifty mil
lions Of silver dollars could be coined in
year, and that on that amount the
seigniorage would be twelve or fifteen
millions q year and nothing more. So
that Sena :ors were playing here with the
great question of the inconvertibility of
the Government paper money. They
were running the hazard OF going back
within thirty days to an inconvertible,
irredeemable paper currency with nothing
behind 1t except the credit of the Govern
ment. The United States, he said, could
not open its minis to the coinage of silver
at 10 to L without becoming a mono
metallic silver Nation. He believed it the
height of unwisdom for the United States
to deal partially with that question, and
whenever the question as to the free coin
age of silver by the United States and
the opening of the United States minis to
the coinage of silver at 10 to l was just the
same, be expected to vote as he had voted
hitherto.
Stewart (Pop.) of Nevada argued that if
the option to redeem greenbacks in either
silver or gold coin were exercised it would
stop the expectation of gold from the
United States just as the same means pre-
vented its expectation from France and
Germany.
Chandler (R.) of New Hampshire ex-
pressed the hope that the bond bill would
not pass, but he was afraid there was a
small majority in its favor. He hoped,
however, that the sober sense of the Sen
ate would not, on the eve of adjournment.
repeal the only law on the statute. book
that enabled the President and the Secre-
tary OF the Treasury to protect the Ma
tional credit and the public honor during
the next six months.
Three-fourths of the Republican Sem
ators. Chandler said would vote their con-
fdence in the President on this question,
and he asked Senators on the other side of
the chamber to do the same. Senators, he
said, should rise above party lines and say
| to the people of the country and of the
! world that the law which enables the ex-
ecutive to protect the honor and credit of
the United States shall not be struck
| down by their votes. 1t seemed strange
that he should be defending the Presi-
dent, but the President needed defense at
| Republican hands when two-thirds of the
| Senators of his own party were afraid to
trust him with the powers given by the
statutes to protect the honor of the United
| States.
Before reaching the serious part of his
speech Chandler had charged Butler with
expressions not printed in the Record as
to revolution and bloodshed in case the
Popuhsts did not have their way. The
meaning ascribed to his language WIS re-
pudiated by Butler. Then Chandler
referred to paragraph published in But
ler's Raleigh paper--the Caucasian-re-
hecting on Senators sin language so vile
and abusive that he (Chandler) would
not dare to take the responsibility of put
ting it in the Record. Butler, having read
the paragraph, explained that it was not
editorial. but was an abstract OF Congress
sional news. He was sorry that it had APP
peared and would see that such a thing
would not happen again.
Pettigrew (R.) of South Dakota made a
long explanation and denial of the news
paper charges that in the Republican con-
| vention of his State he had pledged him
self to vote for Mckinley and for sound
money, although he had been known to be
hostile TO Mckinley and in favor of the
free coinage of silver. The story, he said,
had been got up by Mr.. Tomliuson, the
editor of the Argus, and was untrue n
every particular.
Ibis (Tomlinson' reputation for truth
and veracity in the community where he
resides" Pettigrew declared in conclusion
sis bad, and 1 don't believe that he can
sustain it in court Of law"
Teller (R.) of Colorado advocated the
bond bill. The contention of its oppo
nents, he said, was that the representatives
of the States in the Senate and the repre-
sentatives in the House were not to be
trusted 70 maintain the credit of the
| Amer Government. That was the
position, he said, taken to-day by the
Senator from Iowa (Allison), whose name
I I -