The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-28


The Effectiveness of His Effort De-
strOyed by the Fact That He Rend
His Remarks From Manuscript.
Washington. Jan. 27-Senator Bacon
delivered his maiden speech" in the Sem
ae to-day. He took for his text that
somewhat ancient proposition. How to
establish the parity between gold and sill
YER"
The senator read his remarks from
manuscript, which to a certain extent
destroyed the effectiveness of his deliv-
cry. lie included numerous citations,
which he called upon the clerk Of the Sem
ate to read. The latter is "A very poor
reader and the points intended 10 be made
by the quotations We're somewhat dun.
on the democratic side of the chamber
there was considerable curiosity to hear
the junior senator from Georgia, and seat
ed near him were Senators Hin Of New
York, Jones Of Arkansas, Smith Of New
Jersey, Lindsay OF kentucky. West Of
Missouri, Teller and Walcott Of Colorado,
WalthaIl of Mississippi. Faulkner OF West
Virginia, and Senator Gordon. On the re-
publican side Senators Hoar OF Massa-
chusetts, Plat OF Connecticut, and the
two new senators from Utah listened to
part of the speech.
Senator Bacon undertook to show that
both gold and silver can be used 10 a9-
vantage and he cited numerous authOrl-
ties including many prominent men who
are now opposing free coinage, 10 sus-
tain his position. He made a very Strohg
argument from his STANDPOINT, anu was
heartily congratulated by his associates
Mr. Bacon delivered his speech with
much oratoricel grace ana ei-
fSS5' tio5 Of ae silver iiRIUHe 10 10 the the general
currency on the same terms as gold as a
question which had stood In the Iore-
ground of discussion for the last twenty
Years He strongly favored such restora-
lion. So long, he said, as this important
and importunate and most lrrepresslpie
question remained undetermined, II was
not only natural but unavoidable that II
should continue to attract pubic interest
and to be a most active political conteh-
tion. The use Of both metals he argued
was necessary to supply the money es-
sential to do the business OF the world; Tor
the reason that all the gold or the worlu
available for coinage was insunelent Tor
such a purpose and that all the silver or
the world available for coinage was also
insufficient. That was the basic tunda-
mental principle In favor OF both metals.
Mr. Bacon argued that there was no
authority under existing law for the Is
sue of bonds; and that II there were such
a law it ought to be repealed.
Mr. Hill asked MIR. Bacon whether 1t
was quite fair to charge that the mainte-
nance of the gold STANDARD was the sole
object of the bond issue. would II not
be a more accurate statement 70 say that
the issue Of bonds was intended TO main
tain the greenback currency
Mr.. Bacon answered the question IN the
negative, and quoted from the message
| of the President to prove that the object
! of the bond issue was to maintain the
| gold reserve.
There could be no possible contention
| of the fact that the $l62, O0,OO of bonds
| already issued and the $lO0O0OW TO be
| issued within a few days We're for the
| purpose of maintaining a single gold stan-
| dard. Not dollar of those issues would
have been necessary II the country We're
on a bmetallic basis, and II silver were
| paid out at the option of the government
! Instead of gold. The issue might be cloud
ed; and the people might be deceived; but
/ namely that in order to maintain gold
! standard there was not only loss Of un-
/ but that hundreds of millions were added
| to the governments Indebtedness,
which must ultimately be paid
on an extended colloquy with Mr.. HUI as
| 10 the effect OF the bond issues and con-
| tended that instead of issuing bonds to
| obtain gold the SIT, 900, 900 of surplus In
the treasury should be used in the re-
| demption of government securities-the
| paper money being exchanged for silver
| coin and this silver coin paid out. He
| said that il the government persisted I'm
| ignoring silver as money and in redeem
| ing its obligations only in gold, there would
! be In a few years five hundred millions
| locked up in the treasury in the shape of
greenbacks and treasury notes, and the
| circulation OF the country would be di-
minished 10 that extent
| Mr.. Bacon pointed to France as an Illus
| tration of how silver and gold coins re-
main in circulation on practically equal
| terms, although the silver in the five franc
piece was worth only fifty per cent. of its
| coin value, and he said that the same con-
| dition Of things would obtain in the
| United States II the government as we'll as
| the people rigidiIy exercised the option
| of paying its Indebtedness either In gold
or silver.
took their place in the Senate to-day,
making the whole number of members
of that body 50, as there is still vacancy
in the case of Delaware. Both are classi-
fed as republicans, and as favoring free
coinage. Lots were drawn to decide which
was to fill the long term, closing March
term, closing March 3, 1897. Mr.. Cannon
was fortunate enough 10 win the long
| term. and his colleague, Mr. Brown, hav-
ing to take the short one.
During the morning hour the joint reso-
luton reported from the committee on
agriculture, directing the Secretary of Ag
riculture to comply with the law requiring
the purchase and distribution of seeds,
was debated in the Senate, Mr. Hans
brough rep, of North Dakota, arguing in
favor of il, and Mr.. George, dem, of Mis-
At 2 o'clock the House bond bill, with
| the free coinage substitute was laid be-
ness. Two speeches were made on the
| biIl-one against free coinage, by Mr.. Mel
son rep, of Minnesota, and one in favor
| of bimetalllsm and free coinage, by Mr..
! Bacon, dem, of Georgia.
The bill went over without action,
Lodge. rep, of Massachusetts,, giving no.
! tice of an amendment for the issue of
Sl00, 900 000 Of per cent bonds for coast
| defenses.
In the opening prayer the Senate chap
! lain made an impassioned invocation In
behalf of the people Of Armenia, praying
! that the powers and people of Christen-
! dom may be aroused and united to en-,
/ force the sultan ito sheath his bloody
| sword and 10 stay the frenzied rage and
/ cruelty of his fanatical soldiery and sub
| jects."
| ferred to committees was one from the
! wife of John l.. Waller, held in prison by
| the French authorities, in which she de-
! clares that such imprisonment Is "a crime
against Justice" and that If her husband
| had been a British subject he would have
| been released long since. She prays con-
| gress that "some suitable and immediate
| action be taken for his release"
The Senate, after a short executive ses-
sion, at O'Clock, adjourned until to-mor-
row.
MeneIek's Terms of Peace.
Rome. Jan. 27.-The government has re-