Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-16

the foundation OF the government, every
issue OF bonds had been made under au-
thority given by Congress. and the
act OF 1875. under which s2G2. 600 OF
bonds wero Issued, was no exception to
that rule because II was only intended
TO exchange one form of Indebtedness
for another form-that Is. 10 Issue bonds
In order TO cancel greenbacks II was
never intended to clothe the Secretary OF
the Treasury with unlimited power TO
issue bonds at his discretion
Mr.. Bacon spoke OF the outflow OF gold
which had begur-sl3 oO0.000 being al
ready some: $S.o0OGoO within the past
week.
ANOTHER HUNDRED MILLIONS
Was there senator, he asked who
doubted that the drain OF gold would
continue. and that within a few months
the Treasury gold would be all gone?
And then, under existing law. and
under the established practice OF the
Treasury Department, another hundred
millions Of bonds would be soon issued.
and a hundred millions OF greenbacks
locked up. There was most powerful
and active element at work. he said. UNI
der the lead OF the Chief Executive,
openly advocating the retirement and
cancellation Of greenbacks and Trea-
sury-notes; and this issue Of bonds was
the most active means Of promoting that
policy. II would effect that purpose as
thoroughly as would be accomplished by
a law Tor their cancellation.
Mr. Bacon declared that II the day
after the Senate shall have adjourned,
and after senators had hurried away TO
attend political conventions, II was an
nounced that the Executive Department
had. without special authority from Con-
gress, determined 10 issue one. two or
90 nHg
was no power 20 say IT nay, SO long as
the law remained unrepealed.
Was Il. he asked. to be recognized as
the permanent policy OF the government
that the Executive Department was to
exercise I'm its discretion. the power TO
contract debt and TO issue bonds without
limit? II not. there was no time like
the present for the repeal Of that law
The responsibility was on senators. and
could not be escaped. Speeches on all
subjects were made in the Senate, and,
should senators be silent now, either
I'm speech or in vote, when this great
issue was presented? Should any one
man be invested for the future with the
more than royal power, IN his disre-
ton and without limit. TO burden the
people with debt 10 the amount OF un-
told millions; and should the Executive
Department be clothed with the most
important legislative functions conferred
by the Constitution on Congress? This
was the great question.
LET the record" Mr.. Bacon said. in
conclusion, "show how Senators and
Representatives. and how the political
parties whom they represent stand upon
this great issue"
MR.. BUTLERS BILL
Mr. Butler PopullsO, Of North Caro-
lima, commended Mr.. Bacon's speech.
and called attention 10 a bill which
he CMr. Butler had introduced early IN
the session. prohibiting the issue OF
bonds without the consent Of Congress.
He gave notice that he would on some
future day ask the Senate to take up
that bill for consideration.
Mr.. Hi objected 10 having the time
farmed out I'm advance.
The Dupont election case, from the
state OF Delaware, was taken up. and
debated until 8 o'clock. The result of
all the legal and constitutional argu-
ments for and against was that the Re
publican senators, to "A man, voted i'm
favor Of the claim. that the Demo
Gratis voted just az unanimously against
il. and that the Populists allied them
selves solidly on the Democratic side
making the vote on the amendment.
which declared Mr. Dupont was not en-
titled TO the seat. 81 to 30. second |
vote on the resolution as amended re-
suited in exactly the same figures. |
There was no attempt on the part of the |
Republicans to propose a decisive is
sue.
At $40 the Senate adjourned until 20
morrow.