The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-05-08
The Bond Inquiry Resolution
Finally Passed.
HILLS SPEECH CONCLUDED
Debate Marked by Dramatic
Personal Arraignments.
PALMER, VEST AND CocKRELL
The investigation Into Bond Transac-
tions Is to Be Conducted by the
Regular Senate Committee
On Einanca
on Finance.

| on FlnanCGs
Washington, May by the deei-
sive vote of 81 to the Senate to-day
inaugurated an investigation to be
| conducted by the Senate committee
| on Finance into the facts and circum-
| stances connected with the sale of Uni
| ted States bonds by the Secretary of
| the Treasury during the last three
| years.
The six adverse votes were cast by
Senators Caffrey, Ia.), Faulkner, (W.
| Va.), Gray, Del.), Hill, IN. ", Mitch
ell, (Wis.), and Palmer, (Ill.). all
Democrats.
The resolution directing the inyes-
tigation is very explicit, as follows:
''ResoIved, That the committee on
| Finance be directed, first: to inyesti-
| gate and report generally all the ma
terial facts and circumstances con-
1 nected with the sale of United States
| bonds by the Secretary of the Treasu-
ry in the years, 1894, 1895 and 1896.
| Second, To investigate and report
| specially what amount of available
| funds, classified, was in the United
| State Treasury and on deposit il. other
| places, subject 10 the order of the Sec
| rctary of the Treasury ut the time the
| bonds were sold or offered for sale;
| whether there was or was not coin
| enough on hand to meet all coin oDii-
| cations of the government due at the
| time said bonds were sold or when
| they were Offered for sale; what Obli-
| cations were due at that time and the
| amount of each, stated subsequently,
| what was the reason for any unusual
/ withdrawal of coin from the Treasury
/ shortly before the bonds were sold or
/ offered for sale, if such unusual with
/ drawals were in fact made, and by
| what persons or class of people and
| for what purpose or on what account
| such Withdrawals were made; e;who pur-
| chased the bonds and in what amounts
| and where. whether in the United
/ States or in foreign countries, and IN
| what proportions and from what per-
| sons or classes of persons the gold
/ was procured with which to pay for
| the bonds. what the bonds sold for,
and what was the market price OF our
| government bonds at the time, and
| what effect the bond sales had on the
| credit and business OF the people OF
/ the United States.
Third, To investigate and report
| as to the manner of disposing of said
| bonds. by what authority, and what
| contracts. advertisements, or propos-
| ais were made by the Secretary OF the
| Treasury in relation thereto; what
| agreements or contracts and whether
oral or III writing and whether pub
Hcly or privately, were entered into
nv the Secretary of the Treasury and
any syndicate or person or persons
with respect to the sale and purchase
of the bonds. and the profits made OF
to be made by such syndicate, or any
person or persons connected with such
syndicate, directly or indirectly
whether such contract or agreement
had any and what effect on the prices
offered for the bonds, what the effect
was. and who, if any person prohteo
by it, and what extent"
The debate had been animated, anc
at times sensational, throughout the
early hours Of the day. Mr.. Palmer
opposition to the resolution and his
reference to "snap conventions,
brought on a heated colloquy with Mr
Vest and Mr.. Cockreu.
II oppose this resolution" said Mr.
, Palmer. because j regard it as an ille
to affect and inflame the public mind.
The Senator went on to say that h
, did not think that any Senator, excep
possibly the Senator from South Dakot;
: 1pettigrew), questioned the integrlt,
of the Secretary of the Treasury III
Sceretary's Judgment, perhaps, Nigh
he disnlted. the correctness of his act
might be questioned, but there was NJ
question of integrity involved. MIR. Pal
mer reviewed the platform utterance
of the parties. Citing the old addage
..tbe world do move" Mr.. Palmer sal,
the country had moved since the plat
form declarations of 1892, and it wa
evident that the financial planks mad'
at Minneapolis and Chicago, would no
satisfy the people in the comig elec
t;ons. In mentioning Mr.. Cleveland
return to the White House in 1898, Mr.
Palmer said the President had called
to his aid "that able statesman, tina
pure and honest man, John g. Carlisle.
Mr.. Palmer asked if free silver woult
bring about so cent, 90 cent, 70 cent
so cent, or 90 cent dollar,
Mr.. Butler (Pop., North Carolina
said he would answer the question b!
reading from a speech by Senator Hill
known as the 'Elmira speech" He wa
proceeding to read at much length Mr.
T Hills early views on the metals, whel
! Mr.. Palmer refused to yield longer
: saying: II asked a plain, distinct ques
: tion to which / have received a grea
, amount of wind, and decline to yielc
further"
At another point Mr.. Palmer refer
red to the cowardice of candidates TO
the Presidency and for Congress il
L 4 Il. - 80
views, and i'm this connection the Sena
| +o,. had an q rtinIa read from tha desl