Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1896-01-08
Senator Hill as a Debater.

II anybody doubts the ability of
Senator David B. Hill of N. Y, he has
only to read the following debate be
tween him and Senator Sherman of
Ohio, and Senator Elkins of w. Va.
which occurred last Friday.
As it is known that the President
will in few days issue bonds. Mr.
Elkins of W. Va, introduced resolu
ton to require Mr.. Cleveland to expose
the bonds to public sale instead of
making a contract for them with a
| syndicate. This led to a sharp debate
between Mr.. Hill on the one side and
Mr.. Elkins and Mr.. Sherman on the
other.
Mr.. Hill said the resolution could have no
more effect than the Pope's bull against the
comet Why should the Senate attempt at
this moment of financial embarrassment fur
ther to tie the hands of the executive authori-
ty. Mr.. Hill said he had no special sympathy
with these money syndicates in New York
city. He commended that this method of sale
Of bonds to syndicates was not new. Under
republican administration in 1878 bond sale
of this nature was negotiated.
but there was thirty days notice of sale"
interrupted Mr.. Elklns.
'And within that thirty days." added Mr..
Sherman, ''the public instead of the bankers
took the bonds"
Mr.. Hill declared that banks and syndicates
frequently pushed forward s.the public to-
disguise their own transactions. The Senator
read in detail the bond contract made in 1873,
to which the names of the Seligmans, Bel
monts, Morgans and representatives of the
Rothschilds were appended.
And who was the Secretary of the Treas
ary at that timer" asked Mr.. Turpie, Demo
era: fross Indiana.
lit was thai distinguished public man, the
-SsssfI as5f &c q 81 Iohn Sherman, :, respond
ed AFr. Hill vS::h great vigor
ssN no sss tie men in this present syndi
eatesY asiasf My Hill. Who is this Mr.
Morgan Of whom we hear so much? Is he
not the Mr.. Morgan who furnishes the sinews
of war to The republican party? There was
no reason to believe that the executive au-
thorlties would seek to grant special favors to
this gentleman" In the judgment of Mr..
Hill no contract whatever had been made at
the present time. notwithstanding the reports
of the newspapers The Senator referred fire.
quently to the First National Bank of New
York as one of the participants in the bond
transaction of 1878.
"What is the popularity of this First Ma
tional Bank asked Mr.. Harris, that the
Senator refers to it so mysteriously?"
II will not go into that unpleasant chap
ter" said Mr.. Hill. "The public will recall |
the transactions of that day. The charges of |
favoritism extended to this bank-because of |
its contributions to the republican cause-wilI |
be recalled. But do not intend to go into |
that subject
This probe under the ribs of Mr.. Sherman |
could not be borne, so. Mr.. Elkins was quickly |
on his feet 'Ideny," said he that the First |
National Bank of New York is a contributor |
to the republican cause. One of the officials |
of that bank is a democrat, another a republi
can and another an independent-all honora
BILE men,"
Mr.. Hill added sarcastically that he did moi |
doubt the integrity of these men, He would |
not be led into discussion of the chargesf
made that the Secretary of the Treasury (Mr.t
ShermaD) at the time of these bond contracts /
had shown undue favoritism to this bank
Mr.. Sherman interrupted, book in hand, to |
read the details of the bond contract referred
to by Mr. Hill, pointing out the provision for
a popular absorption of the bonds.
Does the Senator mean to say" inquired
Mr.. Hill, addressing himself to Mr.. Sherman,
that he did not make contract with bank
ing syndicate?"
Il most emphatically state" responded Mr..
Sherman, "that large part of those issues
were taken by the public"
Mr.. Sherman did not deny-he only
'emphatically Stated" that a large
part of the bonds were taken by the
public; but as Senator Hill showed
and to which there was no denial,
the public" meant the Seligmans and
Belmonts and Morgans.
1t is to be doubted whether Mr..
Sherman was ever so discounted in
debate. His favoritism shown the
First National Bank of N. Y, whilst
ne was Secretary of the Treasury, on
account of it's contribution to the re
publican campaign fund, is SO notori
ous that even he dares not deny it.
nor attempt defense. OF course, the
Senate will pass the Elkins resolution. |
but resolutions are one thing and laws
Ire another. Mr.. Cleveland will obey I
The laws. but he will pay about as l
much attention to this resolution as {
1e will to the surging of the deep blue
'ea- 1t would be refreshing if we had I
few more Hills in the Senate. la