The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-01-23
Says Silver Must Be Recognized
This Session.
Until 1t Is No Financial Measure
Will be Passed.
SHERMAN FOR BONDS
Teller Says the President and
Republicans Are Together,
But in This Play of Politics
Bonds Must Fall.

WASHINGTON, Jan. 22.-The Senate
session yesterday was marked by no.
table speeches and notable debates.
Late in the afternoon a controversy
occurred between Mr.. Sherman, Mr..
German, Mr.. Teller and others, which
led to the most spirited financial de-
bate that has occurred since the pres
emit Congress convened. Mr.. Sherman
spoke at length and with great earn
estness, deprecating the thrustlng of
an ''old worn out issue"-the silver
question-into the Senate at a time
when practical legislation was imper-
ative. Mr.. Teller and Mr. German an
swered Mr.. Sherman from their re-
spectlve standpoints, while Mr.. Aid
rich, Mr.. Lindsay, Mr. Gray and others
took part in the exciting debate.
The debate was precipitated by Mr..
Pugh, who succeeded in having his
bond resolution taken up. Mr.. Hill
at once offered an amendment provid-
ing that if for any reason silver coin
shall not be at a parity with gold coin,
the United States bonds now payable
in coin shall be paid in standard gold
coin whenever demanded. Mr.. Hill
spoke briefly against the resolution.
1t was, he said, only a recital of an
Gent history and he deprecated fur
Their confusion of financial conditions.
-nAs 4C44CIf 1ACDuO1lCdu, Oh GO1OFdQO
followed on the hna ncial situation.
At o'clock the Pugh resolution
was displaced and the bond silver bill
was taken up, Mr.. Teller continuing
his remarks
Mr.. Teller arraigned the policy of
issuing bonds with a view, he said, to
building up permanent bonded debt
to be borne by posterity.
Mr.. Sherman arose as soon as Mr..
Teller closed. The silver discussion,
said Mr.. Sherman, was purely a moot
discussion. No doubt there was sill
yer majority in the Senate. But the
country had settled down to the idea
that free coinage of silver would bring
us to a single standard of silver, and
was undesira bic State after state
had taken this position. The use of
both metals, the bimetallic system,
was being accepted as the best.
Mr.. Cockre1 asked if Mr.. Sherman
meant to say that the relief as pro-
posed was what the executive has
asked.
Mr.. Sherman said 1t was not for the
executive to determine upon the nature
of the revenue legislation. That was
for the house of representa- ives, under
the constitution 1t was not for the
President to say what was the best
form OF relief. 1t was sufficient that
the house of representatives., the rep
resentatives of the people, determined
on a means of revenue.
At this point there was a colloquy.
Mr.. Gray, Democrat. of Delaware,
asked Mr.. Sherman where the tariff
bill was.
Mr.. Sherman: Il refer the gentle
man to the senator on his right"
Jones of Arkansas.)
Mr.. Jones: THAT bill is in the
hands of Republican committee on
finance"
NJ c,l..- s,rr1. - c--
mittee is to-day practically Demo
cratic. One member OF the committee,
Jones of Nevada, has severed himself
for the time from the Republican
members of the committee. But it is
important to understand that one
Democratic vote on the finance COM
mittee will authorize a report at any
time"
Mr.. Teller asked if Mr. Sherman
thought the bond bill would afford re-
lief. MIR. Sherman answered that he
did.
Mr. Teller referred to the selling of
bonds for the purpose of securing
gold.
IF there had been no deficiency
there would have been no loss of
gold" said Mr.. Sherman.
In conclusion, Mr.. Sherman said:
''As far as my voice can go, want it
understood that this delay arises out
Oh In0 QlSCu5SlOu Oh al O10 WOT1OuG
issue-the free coinage of silver
while we should be turning our atten-
ton to the practical remedies be-
fore u.s."
Mr.. Teller responded with spirit.
Senator Sherman and his associates
on the Republican side, he said, Of
fered no monetary system. They
stood practically with the president.
The Senator from Ohio could not get
up and lecture him as to urging a
measure that could not become law.
This bond bill could not become law.
If there was to be a play of politics."
it would affect bond bills as well as
silver.
Mr.. German, Democrat, of Maryland
answered Mr.. Sherman's statements
concerning the treasury administra-
ton He declared that the course of
the treasury now was the same as that
under Secretary Foster, and as far
back as the administratio of Secre-
tary Sherman.
Mr.. Aldrich, Repu blican, of Rhode
Island and Mr.. Lindsay, Democrat, of
Kentucky Joined issue as to the polit-
ical responsibility for the deficiency.
At 5:2s the Senate adjourned until
to-day.