The herald., 1898-01-27

which adopted the Matthews resolution
and in less than four weeks after it
adoption, Mr.. Bland, in the house. Sc
cured n suspension of the rules that h
might offer what subsequently passet
both houses of congress, and was late
passed over the presidents veto, ant
came to be known as the Bland-Allisor
act. restoring silver to the coinage of the
country-after, mind you, not before
the adoption of the Matthews resolution
The commercial value of the silver dol
lar was at that time about 80 cents.
Second-What was then and since has
been denominated as "the greenback
craze" was at its height; silver had been
demonetized, and the fear was shared by
many interested people throughout the
country that, should the element advo-
eating IAN irredeemable paper cur
rency" in unlimited volume, ever get
possession of the government, provision
would be made for the payment of the
bonded debt in greenbacks. That ap-
prehension did not crop out in the debate
over the Matthews resolution, but that
it was to some extent felt will be recalled
by those who at that time were observ-
ers of public events and the drift of pub
lie sentiment. How much it was felt by
those who voted for the payment of the
bonds in coin. and to what extent that
resolution was in the nature of a conces-
sion to the bondholding interest may
never be known, for human motives are
not of record in the congress of the
United States. Be that as it may. Sen
ator Allison voted for the Matthews
resolution, for the Bland bill, and for
the passage of it over the veto of the
president, and all this prior to the
restoration of silver to the coinage of the
country.
Now let us turn to his present attitude,
as illustrated by the debate upon the
Teller resolution. We single out Mr.. AL
lison for the reason that he was mem
Der of the Forty-fifth congress as we
have seen, voting as indicated, and for
the additional reason that he is the ac
knowledged administration Republican
leader in the senate today, and as such
is depended upon to make the fight upon
this re-declaration of the integrity of the
silver dollar as a debt-paying money.
Asked by Mr. Tillman whether he would
say in terms that the bonded obligations
of the government were payable in sill
yer. Mr.. Allison quoted the law that the
bonds are payable in coin. Urged to
reply yes or no to the interrogatory, Mr.
Allison said he declined to have words
put in his mouth" but said he thought
it would be proper for the secretary of
the treasury to pay the obligations of
the government in either silver or gold.
He, however, followed up this partial
of the point in dispute with
these qualifying remarks:
But the secretary of the treasury, if
he is an honest man, in reaching his
decision TO act upon that point. must
take into consideration existing con-
ditions. one of which is that the gov
ernment is pledged to maintain the gold
and silver currency of the country at
a parity.
Mr.. Allison's disingenuous evasion of
question involving the central principle
Of the contention is in striking contrast
with the candor of Mr.. Gage, another
and more direct representative of the ad-
who, in public interviews
Il
before the house committee on banking
and currency. frankly claims that coin
has come to mean gold alone and de-
,lares that one of the objects of the bill
ne has prepared, and which is now un-
ler consideration. is to give legal force |
md effect to the contention of the hold |
RS of the bonds of the government that |
gold is the sole and only standard of |
value in this country; that silver is not
DIN in the meaning and intent of the |
aw. Nor will there be any manner of
lOubt, should this theory prevail and his |
ill become a law, that every obligation
IF the government-the non-interest-
bearing as we'll as the interest bearing
lebt-will be paid in gold, at whataver
cost and at whatever sacrifice.
The issues are we'll enough defined
and upon them the battle will be fought |
nut before the people. next fall and in
he presidential election to follow, nor
will the evasions and bubbles of the AL
isons and the Aldriches avail in be-
,louding the minds of the people as to
he ramifying importance and signif-
.ance of the decision.
The senate vote today, as we have said |
will have no binding effect upon the ad-
nor will it change any fea- |
ure of the compact but it may serve as
warning to the gold potters that the
senate of the United States stands like |
| stone wall between them and the i'm
Mediate consummation of their schemes. |
-e~--
THE REASON WHY