Evening star., 1897-02-11

tion OF whether we should put gold in the
bonds Of the United States.
He said he had not voted to put gold in
the bonds when the administration put the
country IN position where not to do so
would cost the people $12.0OO.0OO. Congress
refused. and now the taxpayers would have
to pay those $4,000. 900.
And yet you maintained" interrupted
MI Terry (Ark.) that We should pay
those bonds In gold. although we paid a..
Goo0O for the privilege Of paying them in
Every one maintains. almost every one
maintains" replied Mr.. Payne. that the
ponds are payable In gold. Even the late
democratic candidate for Vice President
tSewa!D, who ran on a silver platform. held
gold bonds, and the silver mine owners,
who were rampant for free silver senti-
ment. wrote gold in their notes."
Mr. Hartman (Mon.) Indignantly denied
tnfs latter statement but Mr.. Payne in
sisted he was right. He said that western
debtors, IN order to get money at a re-
spectacle rate of interest. were obliged to
agree TO pay principal and interest In gold
ne SAID ne believed every United States
BOND should be paid in gold.
Honesty of silver Men Questioned.
Mr.. Mcguire (Cal) replied to Mr.. Payne.
He said the honesty of the believers in
1ree silver was to be questioned, because
some of them in loaning their money made
gold contracts. Silver had by law been de-
prlved of its legitimate function as money.
Gold mad been given special privilege. Sill
yer was mere token money. Why he ar
gued. should a business man abandon the
business advantage which the law gave
MIN because of his conviction that as a
tized?
Mr.. Bailey (Texas) made a brief arsu
ment to demonstrate that a gold contrac..
being contrary 10 public policy, was illegal.
I'M Mr. hnox, speaking to the merits of the
on, salo the Dill did not authorize the issue
OF an additional dollar of bonds. 1t simply
authorized the territories to refund their
existing debt into fifty-year per cents
personally. he said that If he believed gold
was so scarce that 1t had unduly appreci-
ated ne would think gold unfit to be the
standard. but believing as he did that there
was sufficiency of gold to furnish a good.
stable and elastic currency, he was un-
Waveringiy in favor of gold standard for
this and all other commercial countries
Mr.. Walker Gives His Views.
He then yielded to Mr. Walker (Mass1
chairman Of the committee on banking and
currency, who declared it was as notorious
as that the sun shines that there were Ger
tam states of the Union whose monetary
system was beyond the reach of congress
sional legislation. There were seven states
"nere all transactions were in gold and
yet 1t was curious, he said, that the repre-
sentatlVeS from those states on this floor
sought to compel the rest of the Union 10
take DO cents on dollar. He insisted that
congress should not interfere with private
contracts.
he urged the House to vote down an
amendment that had been submitted by
Mr. McMillin Tenn.), which was as fol-
lows:
provided that the principal and interest
or the bonds funded under this act shall
De payable in any lawful money of the
United States except the Arizona bonds
above described heretofore issued"
Mr.. Bartlett On. ", who described him
self as gold democrat" warned the
House that the adoption of this amendment
of soft money