The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-01-04
BONDS IN THE SENATE
Continued from First Page.

Elkins was quickly on his feet. Il deny"
said he, that the First National bank IS
a contributor 70 the Republican cause. one
Of the officials Of that bank is a Demo
crat, another a Republican, another an IN
dependent-sn honorable men"
Hill added sarcasLcally that he id bot
doubt the integrity OF these men. He
would not be led into a discussion OF the
charges made that the secretary OF the
treasury tSherTnan) at the time OF these
bond contracts had shown undue favorit-
ism TO this bank
Sherman interrupted, book In hand, TO
read the details Of the bond contract Ie-
ferred 10 by Hin. pointing out the proyi-
sion for popular absorption OF the bonds.
Does the senator mean to say" inquired
Hi, addressing his remarks 10 Sherman,
that he did not make q contract with
banking syndicate?'
Il emphaucally state" responded Sher-
man, that large part or these issues
were taken by the public
Returning 10 the resolution, Hill gave
It as his belief that the president would
not pay the slightest attention 10 IT. he
would be governed by the laws now on the
books. not by such resolutions
Sherman followed with a detailed expla-
nation OF the bond issues under his adj
ministraton. The contract OF 1878 Was
with the bankers with whom the govern
ment had previously dealt. After that
during all the period OF resumption, not
one dollar was paid 10 any syndicate, but
all bond disposais were given the widest
publicity at post0ftices and public places
throughout the country.
Butler offered an amendment TO the reso-
lution, prohibiting issues of bonds without
congressional authority.
Chiffon. Dem. Texas, offered further
amendments on the same line as that Of
Butler. but differing in detail He spoke
briefly. II being his initial address, TO the
senate. He opposed the issue of bonds,
root and branch. He believed in silver
coinage. He did not approve temporary
expedients in dealing with these ques-
tions.
Lodge spoke of the gold holdings out
side OF New York city. And yet, said
he, under the prevailing policy of the
treasury, no effort was made TO get gold
outside OF New York. The American peo-
pie at large We're given 10 opportunity
TO take the bonds Of their government.
Lodge referred TO the offer of the New
York World 10 take 81 eco 600 of bonds
This offer and all others from the public
should be considered, and the people
given an opportunity TO take the bonds.
Teller referred 10 the integrity of the
bond sales of 1878. There had been no
public scandal over any bond sale up TO
1895. He then compared the results of
the bond sales of 1S77-7S with those OF
1895, asserting that great losses to the
government occurred under the contract
OF last year. There should be no secret
approval OF contracts as TO bonds Bank
ers should have the same rights and no
more than the men having money in the
savings banks. Teller also referred to
the offer OF the New York World 10 take
100000 of the bonds at per cent.
Il venture TO say" interrupted Hill,
that the offer of Mr.. Pulitzer IS the only
one that has been made. No bank in
the country has made such an offer. /
do not believe there is a single banker
in this country that viii take the coin
bonds at per cent"
Teller proceeded to show that the bank
ers throughout the country were ready
to take the bonds. He recfted specific
orders at the time OF the last issue. The
senator read, with much vigor, the per-
sonal appeal OF the New York World TO
the president. This was d remarkable
document" said Teller. "a profound ap-
peal 20 president TO avert q scandal in
an administration which the paper had
helped TO bring into existence" The
senator denounced the "imbecility or dis
honesty" OF the executive branch in MAX
ing this secret contract at amounted"
said Teller, Ito a misrepresentation of the
public funds, and the public would so
judge the past and the coming transac-
ton"
Inn replied that this talk OF allowing
the public 10 take the bonds was for pollt-
!cal effect 1t smacked of demagoguery.
Let the people OF Colorado come forward
with their gold. Let the gold come from
any source. and see how quickly IL would
be accepted. Instead of offers there was
assertion and criticism. At this point Hill
paid a tribute 10 Secretary Carlisle repeat
edly calling him by his fun name, John
G.. Carlisle. which attracted much atten-
ton. "Imbecile. incompetent dishonest is
what we hear" said Hin. John G. Car
Isle Incompetent? one OF the greatest pub
lie men that this country ever producedi
John G. Carlisle dishonest7 And yet. thir-
" years in public life and a poor man
today, living on his salary. lmbecile dis
honest. Is what We hear said across
the senate" Hll said that IL any one
had suffered at the hands OF Mr. Carlisle
Il was himself and his colleague CMurphv)
They had been ignored IN the appointments
OF their own state. and vet Hin was thank
full that he was broad enough 10 recognize
the unfiagging patriotism and devotion OF
the secretary 10 the country. and his abiI-
iiy In meeting the requirements OF occa-
sions.
Hawley. Rep. Conn, gave his personal
observations IN Paris when the people took
up the great bond issue REQUIRED 10 nav
lieved the American people would take a
bond issue with the same readiness
Hoar spoke OF the cslamitous conditions.
unparalleled in the history OF he United
states, presented BY the present transac-
tons OF the executive. lie asNed what
had become Of the history and hon, stv ana
integrity OF the old Democratic party.
a sharp coloquy occurred between Hoar
H,ll and sherman as 20 the use OF the re-
serve fund Tor meeting current expenses
Kan contended. against the Others. thai
the use OF the treasury funds was strict
" within the law. Another sharp massage
occurred between IIll and Hawlev when
the latter referred 20 the prospects Of a
free silver rider = he bond hill.
Canery. Dem. sharply responded 10 TEL
lcr's assertion that the administration vas
incompetent or dishonest Teller rose "a
say that be would make il '4rcompetent
and dishonest"
CaGery also responded - Hears 0riti-
cisus on the decauerce ~ the Integrity ~
the Democrats. At least said "a ffa~,,
the southern men did not add hypocrisy
u their action IN order 20 secure a nettv
party advantage and Indirectly % stsb ne
SQUAD money cause they pretended 10 es-
pouso "
Al 5.'5 o'c,a-k AllrieA rose 10 state that
as II was apparent nothing could be dara
TONIGHT, ae would move IN adjournment
Eikios demanded r1il call. ana there
was 4 chorus ~ seconds 70 his demand
ON the caU the senate voted = 10 Is ~ q a
j7gr-. The vote IL ac;aIl was as follows.
Yeas-Ai3vt-h. Allison Rate. Berry
E-ice Carcry Gail. Cation. Cu!ioro
George Gibson. German Gray. Hale. mar.
-i= Haw!eN. hia. HoaT. T.3dzc. Martin
Mitchell W.sA. Aurpny, Roach. Vest.
voorhees, Na-thaa, Netuore-Z7
IA aa- fs.true.-.