The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-01-23


in the slightest because of the Mon
roe doctrine, but because of the I'M
doubted and inalienable right we have
to. protect our interest, wherever any
body asserts to the contrary, in any
portion of the earth" applause in the
galleries.)
Again, when MI Wolcott spoke of our
threatened war with Chill, only a few
years ago, Mr.. Hoar remarked: Yes,
they showed their friendship for us
by killing a few American sailors"
APPLAUDED.
When Mr.. wolcott closed there was
round of applause, which the vice
president quickly checked. Mr.. VOL
colt was surrounded by his associates
from both sides of the chamber and
from the house, who congratulated him
on his speech.
Mr.. Hansbrough (Rep., y. D. sought
to secure recognition for his remarks
criticising the course of tho secretary
of agriculture, but the subject went
over by avn objection.
Mr. Pugh succeeded in having his res
olution taken up and Mr.. Hill offered
an amendment providing that if for
any. reason silver coin shall not be at
a parity with gold coin, the United
States bonds now payable in coin shall
be paid in standard gold coin when
ever demanded
Mr.. Hill spoke briefly against the
resolution. 1t was, he said, only re-
cital of ancient history, and ne depre-
Gated further confusion of financial
conditions.
Mr.. Teller Rep.. Colo) followed on
the financial situation.
BOND SILVER BILL.
At o'clock the Pugh resolution was
displaced, and the bond silver bill was
taken up, Mr. Teller continuing MS re-
marks. The senator said gold was now
at a premium. The banks had pracu-
cally suspended payment OF gold. II
was a commodity, bought and SOLO
inst like corn and wheat But while
the banks suspended gold payments the
treasury insisted on such payments
And this condition had come without
silver legisla tiCn.
Mr.. Allen asked Mr.. Teller ne
agreed with his party associates thaa
the depression was due to the taflil
Mr., Allen further asked if Mr. Tel
Ter thought any real differences exist
ed between the Republicans and Demo-
Gratis on the financial question.
VERY SLIGHT.
Mr.. Teller said the difference was so
slight as hardly to be detected on the
gold question. ~.
The senator, proceeding, sald LhdI
the gold element in the senate and IN
the country had never yet presented |
!. monetary system. The four sena-
tors representing the gold element on
the finance committee had never Of |
fered a system.
Mr. Plat of Connecticut, OF the |
finance committee said he would sug-
gest a system, namely, the payment Oh |
customs duties in gold.
MIR. Teller said this showed the en- /
tire absence of any philosophical /
monetary system. Here was a propo- /
sition which would destroy the parity +
Of the metals, and yet it was offered .
by a member Of the finance (
committee. It indicated that a place ,
IN the finance committee did not neces-
sarily give a man complete knowledge /
IF finance.
Mr.. Teller arraigned the policy of /
ssuing bonds, with a view, he said, /
to building up a permanent bonded |
lebt to be borne by posterity.
SHERMAN AND SILVER.
Mr.. Sherman arose as soon as Mr.. /
Teller concluded The silver discus
sion, said Mr.. Sherman was purely a
moot discussion No doubt there was
4 silver majority in the senate. But
he country had settled down to the |
dea that free silver coinage would
bring us to a single standard of silver,
md such was undesirable State after
state had taken this position. The
Use of both metals the bimetallic sys-
EN-, was being accepted as the best.
Under the circumstances continued
Mr.. Sherman, the thrusting of the
vornout. old question, which could not
lope to succeed in the present emerg- |
,ncy of the treasury. was ide. 1t was
absolutely certain that this silver bill,
f passed, will be rejected by the house.
Why thus obstruct the relief impera-
lively needed by the government?
The deficiency had caused the trouble,
md the house had offered an emerg-
,ncy tariff bill to overcome that de-
iciency. Such relief should not be de-
aged and INSTRUCTED by thrashing
tut an old worn subject.
Mr.. Cockren asked if Mr. Sherman
,7cart to say that the relief as pro-
posed was what the executive had /
asked.
Mr. Sherman said it was not for the
executive to determine upon the ma
ure of the revenue legislation. That
Z
lnder the constitution. 1t was not for
he president to say what was the best
orm of relief 1t was sufficient that
he house of representatives. the repre-
entatives of the people. determine on
means OF revenue.
A COLLOQUY.
At this point there was a colloquy
NJ Gray, Democrat of Delaware,
Sked Mr. Sherman where this tariff |
ill was.
MI Sherman refer the gentleman
o the senator on his right, Jones of
Arkansas.
Mr. Jones-That bill is in the hands
# a Republican committee on finance
Mr. Shenandoah finance commit
ee is today practically Democratic
(ne member of the committee, Jones
# Nevada. has severed himself for
he time from the Republican members
f the committee. But it is important
o understand that one Democratic
member on the finance committee will
-uthorize a report at any time.
Mr. Teller asked if Mr. Sherman
bought the bond bill will afford relief.
1T WILL.
Mr.. Sherman answered that he did.
NE government had suffered heavy
osses from selling 4 per cent bonds
nd this afforded an opportunity for
'er cent bonds.