The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-16
Mr.. MILLS ON BONDS
The Texan Takes the Floor in Sup.
port Of His Resolution.
HE WOULD USE THE SILVER
In the House Discussion Is Con-
fined Principally to the PEN
sion Appropriation Bill
Routine Business.

Washington, Jan. fisherman Sc
cured the floor shortly after the session
began to-day, and presented an adverse
report on the bill providing for citizens
OF the United States accepting titles,
decorations. ETC., from foreign nations
Sherman said there appeared to be no
need for the proposed legislation. Con-
sideration of the bill was indefinitely
| postponed.
Sherman reported favorably the Joint
resolution appropriating $4,000 for ex-
penses of the commission engaged in
fixing the boundary between Alaska
and British America, along the 141st
meridian, west longitude. There was
some objection to immediate consider
alton. but on Sherman's statement that
the commission now at work would
have to suspend operations unless an
appropriation was given, the resolution
was passed.
Mills of Texas took the floor in sup
port Of his resolution introduced yes
terday, concerning silver, bonds, etc.
He spoke extemporaneously and re-
ceived close attention. He first drew
attention to the long continued antag-
onism against silver and the present
tOChlIB up Oh silver IN
the treasury vaults, due, he said, to the
powerful influence in this country.
which claimed the prerogative of issu-
ing money should be given to corpora
tions. to expand and contract as they
pleased. The national bank idea was
not a democratic idea, the democratic
policy favoring the retention by the
government and people of the money
making prerogative. Mills showed the
contractions and expansions of circula-
tion made by banks and said this sys-
tenn was now to be perpetrated by fur
ther issues of bonds.
Whenever the verdict of the people had
been taken, said Mills, it had been in ia
vor of the legal tender notes. The people
had always stood against bonds and bank
circulation. Let any party dare to go be-
fore the country in the coming contest
with a plain declaration favoring a bond
ed debt and bank circulation, and when
the campaign is over that party will need
the services of a first-class undertaken"
He differed with the president on this
subject, and he regretted IL. But this was
a country of free discussion and the diff
ference with the president and the secre-
tary of the treasury existed in spite of his
personal regard for them. The president
wanted more bonds. adding to the peoples
OdIdch anu liupOSlHB lilS OH our
children and our children's children.
Gray asked IL Mills believed in notes
which were never redeemed in short. in
fat money.
Mills rejected the idea that legal tender
notes were fiat. and explained the theory
of fiat money. why did not our distin-
guished secretary of the treasury" ask
ed Mills, when the bank conspiracy be-
gan, say to these gentlemen, now show
your cards and will pay you in silver?'"
II the secretary had coined the silver in
the treasury and paid IL out for currency
expenses there would have been no deficit
The presidents bond issues We're futile.
1t was like pouring water through a sieve.
The hundred million issue in a few days
hence will be followed by another 100, ,0O0.-
900 in few months. The presidents Ian
guage concerning finances sounded like |
the statements of Jay Cooke when he ad- !
vocated the national debt as a national |
blessing. This bank power threatened 10 |
WELD controlling power in the senate |
the house of representatives, the eXecu- |
tive branches and the United Sts.as Sd |
preme court. This last branch had grown |
so powerful that II could almost decree |
in the United States. That /
would be no more absurd than the decl-
sion against the income tax overruling
the decisions of a hundred years. The SEN
ator closed with a strong expression OF his |
influence of the bank power.
The silver bond bill was taken up at 2
o'clock and PETER addressed the senate
He said that the speech of Mills had at /
last justified the peoples party. I'VE |
have the remarkable spectacle" sail |
PETER. 'of a democratic senator, holding
a distinguished place In his parry, ar
and denouncing the policy Of the
president which the. party brouyn: into
power" PETER urged in particular the re
peal of all laws authorizing the issue of
bonds.
He yielded the floor to permit Pugh to
oner a resolution similar in text TO the
resolution historically known as the
Stanley Matthews Resolution" for the
payment of government obligations in
either coin. gold or silver Pugh gave no.
ice that he will ask a vote on this resclu-
ion on Monday.
Resuming. PETER said the populist party
would properly arrange the parity of the
metals when II came into power
That will be-" said Hoar. when the
occurs"
The millennium is near at hand and
We VIII not have long TO wait" responded
oeffer
The senator said the bond policy of the
president was little else than great
public crime" PETER will continue his
'emarks tomorrow.
On motion OF Wolcott the senate agreed
hat the adjournment tomorrow would be
NTH Monday. At AIS O'Clock the senate J
vent into executive session and at As ad-
burned.
The Pension lfil