The times. [volume] (Richmond, Va.) 1890-1903, 1896-02-01
BOND BILL NEARING A VOTE.
The Day Spent in Discussion Of tht Matter
In the Senate.
APPROPRIATIONS FOR The DISTRICT,
Brandies, Except That Made From Apples,
Peaches and Grapes, Excluded From
the Operations of the Internal
Revenue Laws Except a. TO Taxes.

/ was called TO order by the Vice President
at noon. at which time there We're not
over a dozen senators present. as to-
days session, through the parliament
tary device OF taking a recess, instead
OF an adjournment yesterday, was but a
continuation Of yesterdays the usual
formalities Of prayer reading the Jour
nsl. presenting memorials introducing
/ biAs, and all the other morning bust
| ness, Was dispersed with. ana the SEN
/ ate continued the consideration Of the
Z House bond bin with the Finance Com
; mittec free-coinage substitute.
! Tile cud OF the long debate on the
/ bill was sighted when an unanimous
{ agreement was made that after an even
/ ing session to be devoted 10 the clearing
/ of the belated speeches a recess shalt
! be taken till II A. NJ. tomorrow morn
! ing. and that then after Mr.. Morrill
! KcDJ, Vermont shall have bccn nehru'
/ the discussion shall go on under the
hye-minute rule until 2 =. NJ, when the
! dnal vote is 10 be taken. There was very
/ little difficulty IN reach the agree
mcnt. The proposition coming from Dir.
Harris. stipulated that the agreement
/ should not preclude the Offering OF amend
ments or substitutes. or. motion 10
postpone indefinitely and Mr. Harris ac-
( copted the stipulation
THREE SPEECHES.
Three speeches We're maoe on the sub
icct to-day. Mr. Villas spoke TOT Two
/ hours and three-quartera, IN opposlu"N'
both 10 the bill and the substitute. ne
yielded 10 An interruption from Mr..
Mitchell (Rep). Of oregon, VINO charac
terized the demand that the last issue OF
bonds must bo paid ia gold aiter the
syndicate had obtained them az lo"st
price. because they were specincally made
pavable "in coin" as a "bunc0 game.
Mr. Villas. however. declined TO iet Mt.
Tinman divert him from his argument
by questions He closed with an eulo-
GUM on the Democratic party ylelolnS
neither 10 the TeactiOnary forces OF ola
absolutism, nor TO the lurid hres oil An
archy."
Delivery Of the speech occupied two y,
hours and three-Quarters. Although II
had been prepared IN advance, ana laN
before the Senator i'm typewriter pages
there was so much spirit and energy EN-
ployed in its delivery that II was diff
cult TO realize that Il was being read.
BAT rs OPPOSITION.
Mr. Bates next took the floor, and de-
clared that bee Was unable TO aid either
OF the measures sent 70 the Senate They
made a combination directly against the
wishes OF the people. as he understood
the drift or public opinion. The one IN
creased taxes NOT necessary 10 tGe sup
port OF the Government. ana the other
imposed heavy burden, both present
ana future. neither was necessary The
Finance Committee had by its silver
substitute attempted 10 bring the cOuu-
tfy back 10 the constitutional currency
Of both gold and silver. 10 restore the
only lcgai-tendcr medium mentioned i,
the Constitution. The icsal-tender facul-
~ had been given To the RreenDacks by
adding one Justice 20 the Supreme Court.
btf the Cou9tiStlof had bestowed IL on
gold and silver
In providing for the free coinage Of siI-
vel there would Doe no innovation nyOn
the principle of sound money. IL was AN
earnest ana honest euOrt 20 restore ~
NHN. HH.H |.H
which had ueen since the days OF ADra-
ham current lu all trades ana With all
possible. 10 was a vain waste of time 90
tell the people that silver Was not sound
money.
Such assertion was contradictod by The
lesson or history lt mieft Doc patriotism
~ might Doe pride. but lt was also the
positive conviction OF the people that the
eniled states among the nations of She
World was potential enough tO STAMP its
declared policy upon international eA-
changes. and that when this country
uNed the ratio and entered ON tine Tree
coinage OF silver the ratio would force ii-
self INTO recognition by other nations
the people therefore. believed that the
coinage Oi the IDLE silver ln the Treasury
would result iu The immediate rise OF
prices, that prosperity would speedily
lake the place of depression, and the
country would again enter upon that
Wonlefiul career OF enterprise and wealth
which bad been $50 mdtiy shocked and
des sroyed hy the legislation of lS3
The country demanded An American
policy iot American affairs political
financial, and commercial
PAscO FAVORs FREE COINAGE.
Mr. Pasco addressed the Senate i'm favor
OF the free coinage substitute he ass
serted that the great body OF the Ameri-
can people was mOnOmetalTit while the
class OF avoWcd gold mOnOmetallists was
smah IN numbers. but influential.
By monomctallsm he meant a system
which employed coins for two metals as
standard money az fixed ratio. the two
constituting medium 10 which AN Obl-
cations, promises and liabilities may he
reduced, each being measure of values
as well as medium OF circulation. 4
fair analysis Of the Dom0cratic and Re
publican platforms of 1872 would demon
strate. he thought. that both parties had
pledged themselves fO such "a use OF gold
and silver in national coinage and the
true meaning Of the statutory declara-
ton of the law OF 1893. repeating The pur-
chasing clause Of the Sherman act was
in harmony with the same view. ne he
h"Fcd that the true remedy for The pres
eni financial troubles was return 10
nlmeialllSm. The coinage would then
rest upon foundation of gold and silver
dollars equal in intrinsic and exchange
able value. Win that broad basis of
support The Treasury notes would cease
10 be 70 cause Of embarrassment pe
tlat The former ratio of l6 90 I could be
returned t0 with safety.
The ultimate settlement Of the question
mad 10 be- upon the foundation Of right
ana justice. History and experience had
demonstrated the wisdom or the fathers
I'M establishing bimetailsm. and there was
abundant reason to believe that business
activity and commercial prosperity would
follow It's restoration.
Air. PascO had not finished his eneech
when the hour OF o'clock arrived. and
tnen, under the agreemert. the eonafe
took recess till 1880 Z. "
EVENING SESSION OF SENATE.
when the Senate resumed at 7.21 tho
attendance was quite small but gradual
~ the number swelled until half an
hour afterwards there were twenty-five
senator's. The galleries We're pretty well
nlled. Mr.. Pasco resumed his speech
where he had left of at the close 81 me
afternoon session, and continued 10 f.e
end. which was reached al S.05.
Mr.. Palmer ODem), OF Illinois. gave
10 be the policy % the United States 10
maintain the parity between the gold
and silver dollars Ia the mar
kets, and maintain the equal power
OF both gold ard silver dollars
"a the markets, ard in the Daymeni
of the Treasury TO exercise the discrc-
ton vested pa him so Rs in his ludg-
Mcut 20 better ADVANCE and promote the
policy thus declared.
Sir. Canery addressed the Senate in op-
Dosftiou 10 the free-cOtnaao substiftIte
he admitted that there was a remote
danger OF the silver movement succeed
ing but he thought that il was fraught |
with more evils than the Imagination |
could portray. tie hoped that the dis
cussion going on IN Congress. on the
husings. I'm the press. I'm the lecture |
room and in periodicals would df spei the |