St. Paul daily globe., 1896-01-16
TEXAS SENATOR STANDS Ut FOR
SILVER AGAINST GOLD
BONDS.
ADVICE TO THE PRESIDENT.
THE PEOPLE OPPOSED TO BONDS
AND BANK CIRCULA-
TION.
MIR. PETER PROMISES REFORM.
When the Pops Come Into Office, He
Says, Things VIII Be Much
Different.

WASHINGTON, Jan. Ex-senator
Mills speech on finance, with frequent
direct criticisms Of the president and
secretary of the treasury, was the main
feature Of today's session Of the SEN
ate. There was added interest in the
speech from the fact that Mr.. Mills
has been prominent in the senate as a
champion Of the presidential policy. His
criticisms today were temperate and
dignified, the senator giving expression
to his high personal regard for the ex-
ecutive, although differing from him
radically on the question Of financial
policy. Mr.. PETER followed with a
speech against bonds and in favor of
silver coinage. During the day Mr..
Pugh Oem., Ala.) gave notice that on
Monday next he would press to a vote,
without debate, a resolution that all
government obligations should be paid
in either silver or gold
Mr.. Sherman secured the floor short
ly after the session begun and pre-
sented an adverse report on the bill pro-
hlbiting citizens Of the United States
accepting any titles, decorations, ETC.,
from foreign nations. Mr.. Sherman
said there appeared to be no need for
the proposed legislation and the con-
sideration Of the bill was indefinitely
postponed. He reported favorabIy a.
joint resolution appropriating SIS, 900
for the expenses of the commission en-
gagged in fixing the boundary between
Alaska and British America along the
line of the 111St arid of,
tude. There was some objection to i'm
mediate consideration of the measure.
but on Mr.. Shermans statement that
the commission now at work would
have to suspend operations unless the
appropriation is given, the resolution
was passed.
MILLS ON THE FLOOR.
Mr.. Mills Oem.. Tex.) then took the
floor in support Of his resolution, intro
duced yesterday concerning silver
bonds, etc. He spoke extemporane-
ously, and was given close attention
He first drew attention to the long
continued antagonism to silver and the
present locking up of the accumuIa
tlon or the silver In the treasury vaults,
due, he said, to the powerful influence
In this country claiming that the pre-
rogative of issuing money should be
given to corporations, to expand and
contract as they pleased The ma
tlonal bank idea was not Democratic
idea, the Democratic policy favoring
the retention by the government and
the people of the money-making pre-
rogative. Mr.. Mills showed the con-
fractions and expansions of the circu
lation made by the banks, and said
this system was now to be perpetrated
by further issue of bonds. Whenever
the verdict of the people had been
taken 1t had been in favor of the legal
tender notes. The people had ALWAYS
stood against bonds and bank circu-
lation.
Let any party said Mr.. Mills dare
TO go before the country in the COM
ing contest with plain declarat ton
1aVorlng bonded debt and bank cir
culat1on, and when the campaign is
over that party will need the services
or a flrst-class undertaken
lie differed with the president on
TINS subject and he regretted it. But
thlS was a country of free discussion
ana the differences with the president
ana secretary of the treasury existed
IN spite of high personal regard for
them. Ihe president wanted more
oohos' ADDING to the peoples burden
and imposing this burden on our chill
dren and our children's children.
FIAT MONEY.
Mr.. Gray asked if Mr.. Mills believed
in notes which were never reieened
in short in fiat money.
Mr.. Mills rejected the idea that legal
tender notes were fiat, and explained
the theory of fat money.
why did not our distinguished sec
fetary OF the treasury, asked Mr.. Mills
When this bank conspiracy began. saw
to these gentlemen, Now show your
cards, and l will pay you in silverq',
III the secretary had coined the silver
IN the treasury and paid it for current
expenses, there would have been no de-
hclt The presidents bond issues were
futile 1t was like pouring water
through a sieve. The hundred million
issue of few days hence would be
followed by another hundred millions
in few months. The presidents Ian
guage concerning finances sounded like
the statements of Jay Cook when he
advocated national debts as national
blessings. This bank power threat
ened to WELD a controlling power in
the senate, the house of representatives.
the executive branches and the United
,9teiIeS supreme court. ThlS last branch
mad grown so powerful that it could al
most decree monarchy in the United
States. That would be no more alb
surd than the decision against the
income tax, overruling the decisions
of hundred years. The senator closed
with strong expression of his pur-
pose to at all times resist the growing
influence of the bank power.
The silver bond bill was taken IN
at o'clock, and Mr.. PETER Pop. Kan1
addressed the senate. He said that
the speech Of Mr.. Mills had at last
justified the Populist party.
WHEN 1T COMES INTO POWER.
1--WE have the remarkable specta-
cle,'' said Mr.. PETER, "of Democratic
senator, holding a distinguished place
in his party, arraigning and denounc-
ing the policy of the president which
this party has brought into power"
Mr.. PETER urged in particular the
repeal of all laws authorizing the issue
of bonds, and said the Populist party
would properly arrange the parity Of
the metals when it came into power.
That will be-" said Mr. Hoar
when the millennium occurs.''
THE millennium is near at hand, and
we will not have long to wait"
responded Mr.. PETER.
Mr. PETER said the bond policy of
the president was little else than