New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-23
DEBATE ON THE BOND BILL.
SENATOR SHERMAN STATES THE AT
TITUDE OF THE REPUBLICANS
THEY ARE READY TO GRANT NEEDED RELIEF TO
THE TREASURY. BUT ACTION is BLOCKED
BY THE OBSTRUCTIVE TACTICS OF THE
SILVER MEN-sPEECHES OF MEssRS.
TELLER AND GORMAN.

Washington, Jan. 22-Mr. Pugh's resolution for
the payment of Government obligations in stand
ard silver dollars having been laid before the Sem
ate this morning. Mr. Hill (Dem.. y. W suggested
that. as it would lead 10 considerable debate. it
should go the calendar, where It could be brought
UP al any time by a majority vote. Would not
that. he asked be agreeable 10 the Senator from
Alabama.
NO. sir" said Mr.. Push Il object to its going
on the calendar and | insist upon its immediate
consideration. l would have vote upon 1t with
out debate if could obtain IT,"
That is hardly possible" Mr.. Hill replied IN
the present status of affairs"
Net with the exercise % the freedom OF speech
Possessed cmnently by the Senator from New
York said Mr. Pugh
Then ! suggest" said Mr.. Till. "as temporary
relief to the Senate and country that we lay This
resolution aside, and take up the resolution 10
which III. senator from Colorado CHR WolcotU de-
sres to speak
Nj W0cott Ntep. COLI minated that that course
would be agreeable 10 him.
Mr. Pugh--Of course. viii Weld 20 the request
Of the Senator from Colorado, but am very
anxious to have action on my resolution. and
shall press action upon it whenever Fl is proper to
dc l hope that the next time it comes up there
will be objection to its consideration.
Air Wolcott ;hereupon took the floor. ana adj
dressed the Senate in condemnation Of the recent
action of the Executive and Of Congress in con-
nectlon with the Venezuelan dispute
Mr. Pugh's resolution being Siill before the Sen
ate Nj Hin Dem. y. " offered amendment
to 1t providing that If for any reason silver coin
shall not be parity with gold coin, the United
States bonds payable In coin shall be paid In
standard gold coin whenever demanded. He eX-
pressed his at the resolution being introduced
al this time and said that II could not be passed
wthou, fur discussion
Mr. Hill had made further progress in his
speech when he was interrupted at p. m. by the
presiding officer with the statement that the morn
ing hour had expired and that the House Bond
bill with the Tree coinage substitute. was now be-
fore the Senate the unfinished business.
A DEPLORABLE FINANCIAL CONDITION.
Mr. Teller Rep. COLI addressed the Senate. lie
expressed the general dissatisfaction of the people
al the present condition Of the country The finances,
he said. ware represented by the President and
the Secretary Of the Treasury to be in deplorabe
condition. He did not suppose there had ever been
so many out Of employment or ever a time
when the productive interests of the country were
less profitable than now. He denied. however that
there anything In those conditions that lndi-
Gated any dstrust Of the money in circulation on
the part of the people Of the United States
In the course Of his speech Mr.. Teller was asked
by Mr. Allen pop Neb) whether he attributed the
depressed condition Of business TO the tarin. The
answer was in the negative. Then Mr. Allen asked
him whether there was any difference between the
Democratic and Republican parties on the subject
of finance and the reply was that II there was any
difference between them II was hardly apprecia-
Bile Mr. Teller commented on the fact that no sys-
tenn Of finance had been offered by the four gold
standard Senators the Finance Committee.
Mr. Platt Rep.. Comm. a member Of the Finance
Committee said that he would suggest system.
and that was the payment OF customs duties IN
gold.
Mr. Teers comment on that remark was that IL
showed the complete absence of any philosophical
monetary system. 1t would destroy the parity OF
the metals and 1t indicated that place on the
Finance Committee did not necessarily imply IA
knowledge of finance. Within less than two years
there had been. Mr. Teller said, Sl60V0eO OF bonds
issued: and before the two years expired from 'he
first issue there would be $26230JOO OF bonds issued
How he asked were those issues Of bonds to be
avoided? The Senator from Ohio tMr ShetInap
had told the Senate that it would not be necessary
TO issue more bonds II the Government had more
revenue He did not agree with the senator from
Ohio He thought that the President and the sec
rotary of the Treasury were more nearly rleh' "d"
the senator from Ohio and than the House of
Representatives in passing its Tarin hI. lhere
was no reason Mr. Teller declared for the present
financial troubles. but wicked financial pohcE'
which had been adhered to. to the extent OF running
the country in debt indefinitely
"A National debt" Mt Teller continued is
National curse; and when incurred in time Of peace
is a National disgrace And yet il is Inevitable II
you maintain the gold standard; 90 not care IL
you pass the House revenue bill when you k'lo"
sceds YOUR expenditurs by 100000 a year-you
will stin sell bonds in order to obtain g9Id Ary
available gold dollar that can be put INTO bohd'
has been so used.
THE SILVER MEN BLAMED FOR DELAY.
At the close Of Mr.. Teller's speech response 10
II was made by Mr.. Sherman Uep, Oho). VINO
declared that the whole trouble In the Senate grew
out Of the desire Of debating old worn issue
the free coinage Of siver-nstead OF applying the
remedy which the President asked for which he-
publican House OF Representatives had cheeriuhy
granted. and which the Republican side Of the
Senate chamber ready al any moment to grant.
He had doubt he said that there was iHa3 '
and he did not think there was any desire on the
Republican side of the chamber 70 discuss that
blamed Of was that this free-colnage substitute
which everybody knew could not pass TINS ION,
by the Executive Department absolutely necessary
o Oh unici necessary legislation,
Mr.. Cockrell Dem. MOI asked Mr. sherman ian
Mr.. Sherman replied that that was not question
repeaied was arrested by the frce-coinage subsli-
u Which e1eybOay y kneT e S0gd HS p2s where
the House revenue measure was NJ lana.
M afk FOR sn M' his Jones
Mr. Jones said that it was in the hands of a Re-
Mr. sherman~i bes pardon. The Committee on
Finance S PF 5e members of that
bill at any time. one OF The members or that com
Mr. Jones, Of Nevada)-has severed himself for the
time being from the Republican party. and he
chnoses moi to allow that bill 10 be reported unless
there is an additional provision inserted In II.
MIR Te.ler-Does the Senator regard this Bond
hill as n measure OF relief?
Mr. sherman-I think that it is great measure
OF relief . 49, . ., a., -,
of bonds 10 maintain this gold reserve?
Mr. Shcrman-Long enough to cover deficiencies
4, tho revenue as they occur In the time
The Republican party stands here ready to do It's
N
Mr. ZONES Dem, Ark.)-Is there any authority
der law TO sell bonds for any purpose except
~ Get gold to redeem greenbacks?
Mr. Sherman think not