The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-16
The Texas Senator Criticises
the Administration.
OPPOSED TO BOND ISSUES
Says They Are Against all Dem
Ocratic Precedent.
PETER FAVoRs SILVER COINAGE
A Resolution Passed by the Senate
Appropriating $4,000 to
Fix the Boundary
of Alaska.

of Alaska.
Washington, Jan. 15.- Senator Mills
speech on finance, with frequent direct
criticisms of the President and Secre-
tary of the Treasury, was the main fea-
ture of to-day's session Of the Senate.
There was added interest in the speech
from the fact that Mr.. Mills has been
prominent in the Senate as champion
of the Presidents policy.
Mr.. Mills spoke without notes and
was given close attention. He first
addressed himself to the silver aitua-
ton. He spoke of the long continued
antagonism 10 silver and the present
locking-up of the accumulation OF sill
yer in the Treasury vaults. It was due,
he said, to the powerful influence in
this country claiming that the prego-
tative of issuing money was given
to corporations to expand and contract
as they pleased.
The national bank idea was not n
Democratic idea. Mr.. Mills cited JEFF
ferson to show the Democratic policy
favoring the retention of the preroga-
tive of making money by the govern
ment and the people 1t was an Incl
dent of sovereignty TO issue money
Mr.. Mills followed the course of the
National and State banks, showing
their contractions and expansions of
the circulation. And now, he said.
this system was to be perpetuated by
further issues of bonds.
When the verdict of the people had
been taken, it had been in favor of the
legal tender notes, the money of the
people, and against the bank notes.
The people had always stood against.
bonds and bank circulation.
let any party" said he, dare to
60 before the country in the coming
contst with a plain declaration favor
tion, and when the campaign is over,
that party will need the service of
first-class undertaken" The Senator
said he differed with the President on
the subject and he regretted it. But
this was a country of free discussion,
and the differnce with the President
and Secretary of the Treasury existed
in spite of high personal regard for
them. The President wanted more
bonds, adding to the peoples burden
and imposing this burden on our chill
dren and our childreu's children.
Mr.. Gray asked If Mr. Mills believed
in notes which were never redeemed
in fat money.
Mr. Mills rejected The idea that legal
tender notes were fiat and explained
the theory Of fiat money Why did not
our distinguished Secretary of the
Treasury. asked Mr. Mills, when this
bank conspiracy began, say to these
gentlemen, "Now show your cards and
/ will pay Won i'm silver" If the Sec
retarv had coined the silver in the
Treasury and paid it for current eX-
peuses there would have been no de-
felt But the Secretary kept the silver
locked in the vaults and the Presidents
bond issues We're futile. 1t was like
pouring water through n sieve. The
hundred million issue a few days hence
would he followed by another hundred
million in few months. This would
60 on until the debt burdens of pos
tcrity would reach fifteen hundred
millions of dollars.
Mr.. Mills read from the Presidents
utterances on bonds and compared
them with the views of distinguished
Democrats of the past.
of the Democratic party.
Mr.. PETER made a speech against
bonds and in favor of silver coinage.
During the day Mr.. Pugh Dem.,
Ala.), gave notice that on Monday
next, he would press to vote without
debate a resolution that all Govern
ment obligations should be paid in
either silver or gold.
Cka 20 TNaccad the V.0gOlnfinn
troduced by Mr.. Squire, appropriating
SIS, 700 for the commission to fix the
boundary between Alaska and British
North America
STILL DISCUSSING PENSIONS.
And incidentally Mr.. Grows Attacks the
Administration.
Washington, Jan. 15.-Another day
was consumed by the House in Oratory
,,nnV rNaucipn annrnDrin finn hill