Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1897-12-17
FROM WASHINGTON.
Correspondence of the Alexandra Gazette
WASHINGTON. Dec. II.

that the first purpose Of the bill was to
commit the country to the gold stand
ard, and said +: You are recognized as
a republican, and you are familiar with
the financial platform OF the republican
national convention at ST. Louis. Do
YOU consider that this purpose OF more
firmly fixing the gold standard on the
country conflicts with the principle OF u
the st. Louis platform 2" mo sir, "
responded Mr.. Gage, mot as look at
the principle of bimetallism. An es-
tablishment OF the gold standard, with
such in,erchangeability with silver as
will make it acceptable on an equality
with gold, will maintain biInetallism,
the same as it has existed for the last
eighteen years." Dir. Cox, democrat.
of Tennessee, asked if the result of the
Gage bill eventually would not lead to
one kind of paper money-hauk notes
and no silver except subsidiary sill
yer. 1T is IN that direction and, With
further legislation developing 1t, 1t
might ultimately lead to such a
result" answered the secretary. Inc
Secretary said that the amount o.
refunding bonds under the bill would
reach 81, l3S 600, 900 if all Of them were
issued. These being the basis for circu
lalion, bank notes could be issued 10
tia. amount. Besides these the addl-
tioual 25 per cent. of unsecured circn.
lation would, give further issue OF
bank notes OF ABOUT $500 600 O0O. air.
Fowler, OF New Jersey, said the secre-
tary provided for the issue OF bank
notes on the deposit of United States
notes (greenbacks), treasury notes or
lver certificates. The result, he de-
cared. would be that the most unde-
sra Bile form-silver certi6cates-would
be deposited and impounded, aud their
place taken by national bank notes.
The latter drew gold, the former did
not. Hence, Mr.. Fowler asserted, the
secretary proposed increasing the drain
on our gold supply. Mr.. Gage said
While it was true that silver certificates
might be deposited and bank notes is
sued against them, yet any Secretary
OF the Treasury, on receiving these ell
Yer Ger i6cstes, would swap" them fer
greenbacks, treasury notes and
other forms of demand notes
which served to draiu gold. Mr..
Cox asked Mr.. Gage why he did
not specify that the redemption should
be in gold or other legal money. The
secretary answered that the leas dis
cretionery power imposed on an
executive officer in the execution
OF principle, the better, for
sometimes executive officers might have
indiscre,ion aud do foolish things. Mr..
Gage said the bill could not result in a
raid on the treasury by bank notes: 1t
was not the substitution of an endless
caaiu" OF greenb backs for another lend
less chain" Of bank notes. The banks
would have to redeem their own notes
aud it would be to their object to do 60
OF they would be closed. But so long
q, dollar of demand obligations wss
outstanding so long this ''endless chain"
would 60 on. Mr.. Brosius asked if the
secretary felt that the bill would OBJ
viate any probability of the country
being forced to silver basis. Mr.. Gage
thought it would beyond question.
Suppose the next election should
briug in a House of Representatives
favorable to free silver" asked MIR
Fowler, republican, land free silver
bill was passed by the House and by
the Senate. Now" II object
inserposed Mr.. Hill, republican, "as
that is not even hypothetical possible
ty." SIT is certainty" declared Mr.,
Cox, democrat, amid laughter, in
which Secretary Gage joined. Mr.
Fowler pressed his question. "Be-
tween 1898 when this free silver
measure might be passed by Congress,
and 1900, when the advocates of sound
money returned to power, could the
country 60 to silver basis?" Mr..
Cages answer brought another round
of laughter and applause: "In view Of
the absolute certainty of presidential
veto," said he, Il think we could pull
through"
The President o.day sent the follow
leg nominations to the Senate: VIM.
w. Thomas, jr., of Maine, to be minis
ter to Sweden and Norway; Hamilton
King, of Michigan, to be minister to
Siam; James c. McNally, of Pennsyl.
vauia, to be secretary of legation and
consul general at Bogota, Colombia;
Nathan B. Scott, of West Virginia, to
be commissioner of internal revenue;
Edgar O. Achorn, of Massachusetts, to
be secretary of the legation at St.
Petersburg; George II. Moulton, OF
Colorado, to be consul at Demerara;
Robert P. Pooley, Of New York, to be
consul at ST. Helena; Louis II. Ayme,
of Illinois, at Guadaloupe; w. Stanley
Hollis, of Massachusetts, at Lourenco;
Levi S. Wilcox, of Illinois, at Hankow;
Chester Donaldson, of New York, at
Managua; Robert P. Skinner, of Ohio,
at Marseilles; Frank w. Mahin, of
iowa, at Reichenberg; Marshal Hal.
stead, of New York, at Birmingham;
Hsrlsnd w Brush, of New York, at
Clifton; Charles W. Merriman, of Wiz
cousin, Brockvllle; Daniel E. McGin-
lev, Of Wisconsin, at Athens; Lemuel
W. Livingston, of Florida. at Cape
Haitieu; Jonn &. Billheimer, of Indiana,
at Zanzibar; John K. Pollard, of Ohio,
10 be consul general at Monterey,
Mexico; Lewis Dexter, of Rhode ISL
and, to be consul at Leeds.
The old scheme for paying West
Vireinia's share of the original debt OF
Virginia has been revived, and New
York agents of the holders of what are
known as West Virginia certificates
are here to urge the passage of the bill
introduced in the last Congress to COL
lect the debt due by Virginia on account
of the Indian Trust Fund and devote it