The San Francisco call., 1896-01-16
OENOUNCE THE
ISSUE OF BONDS,
Mills and PETER Deliver
Set Speeches in the
Senate.
USE OF SILVER URGED.
Bitter Denunciation by the Texan
of the National Bank
System.
THE PRESIDENT ASSAILED.
Statutory Authority for the Admins.
tration'S Financial Acts Is
Denied.
THE PRESIDENT AssAILED.

WASHINGTON, D. c., Jan. 15.-The
Senate listened to-day to two long speeches
against the further issue of United States
bonds and in favor OF the use of silver
money. The first was made by Mills CD
of Texas and the second by PETER (Pop.)
OF Kansas Mills speech was bitterly de-
mandatory OF the National bank sys-
tenn, and an arraignment of the financial
policy of the President and of the Secretary
of the Treasury. while PETER denied that
there was any authority in existing stat
utes for the issue of United States bonds.
Although the Kansas Senator spoke for
two hours and quarter he did not con-
clude all that he desired to say, preferring
to go on with the remainder OF his speech
tomorrow.
On the same general subject joint reso-
luton was introduced by Fugh CD of Ala
bama, being a reproduction of what is
known as the Stanley Matthews resolu-
ton, declaring all Government bonds
payable, principal and interest, at the
pleasure of the Government in standard
silver dollars. Pugh said he would ask a
vote on the resolution tomorrow without
debate, but subsequently he said he would
not ask a vote until Monday.
The Senate at 4 ;25 adjourned until to-
morrow, with the understanding that the
adjournment tomorrow would be until
Monday.
A bill heretofore introduced by Allen
(Pop.) of Nebraska and then referred to
the Committee on Foreign Relations, to
prevent United States citizens from accept
ing titles or patents of nobility from
from the committee adversely and was
postponed Indefinitely.
a joint resolution appropriating $75, 600
to defray the joint expenses of locating
the boundary line between Alaska and the
British North American territory vas
| passed.
The resolution offered yesterday by
Mills CD of Texas in favor of the coinage
of silver and for other purposes was taken
up and Mills addressed the Senate. The
real force behind the controversy and
which had been urging it on for years
was. he said, the National banks, which
claimed that the prerogative of coming
and issuing money, which necessarily be-
| longed to the Government, really belonged
to them and that they must exercise tho
prerogative of contracting and expanding
the currency and of changing the standard
Of value as might suit their personal in
| terests.
At considerable length, and with his
usual display of fervor in manner and
language, Mills reviewed the history of
the National bank system and argued
IN favor of aboliShing it, quoting from the
platforms OF political parties in several
States against the National banks and
against bank-note circulation, which he
said, cost the people 100000 a year. He
expressed his regret at having to differ
with the President In his recommendation
TO cancel and withdraw Government cir.
culation and to substitute bank circulation
for it,
Critlcizing the recommendations of The
PRESIDENT to fund the greenbacks and
treasury notes in interest bearing bonds,
Mills declared that the teaching was con-
trary to that of all the parties who had
elected Presidents. On this point he con-
trasted the views of President CLEVELAND
with those of President Washington-"a
/ patriot President, not a political Presi-
dent," he said, who recommended the
payment OF the existing National debt
aud the avoidance of new debts.
Summing up the views expressed by
Jefferson, Madison, Jackson, Van Buren,
Buchanan and other great men of the past
ne declared that it had been the Demo
cratic policy from the organization OF the