The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-29

terE1ined &c restore silver to its status he
accomplish that result We shall march in
solid phalanx with shields locked down
TO the day of doom in our EFFORTS Tor the
| restoration of silver and the Republican,
| cries that the issue of silver is dead Will
| fall upon deaf ears
AT the conclusion of Mr.. Jones's speech,
Mr. Pettigrew introduced the following
resolution: THAT it is contrary to the i'm
terest, policy and tradition of the people
! OF the United States to acquire any terri
tory so situated 10 require a navy TO
protect it." The resolution went over.
me first speech of the day IN opposition
Mr.. Burrows, of Michigan. He said that
the Republican party was pledged TO Sc
cure. IL possible. international bimetallism,
and the President would do everything In
his power TO carry out that pledge Mean
time the existing gold standard would be
maintained. Until the international agree
ment was secured, the purpose of the adj
miniStration was to continue the kind or
bimetal lism which we have now whereby
$50, COO silver dollars were maiptained at
a parity with gold. Any proposition which
looks TO the abandonment of this position,
which was likely to create ii disparity be-
tween the coins Of the country, was III
violation of the public faith and in deroga-
ton Of the rights Of the public creditor or
passage of this resolution fortunately would
accomplish lothing. 1t might tend to alarm
the business interests of the country and
retard to some extent the advance of pros
perity, but by the statements of the Presi-
dent of the United States last night, the
obligations would be discharged in the best
money of the world.
Mr.. White, OF California. spoke in favor
of the resolution and analysed AT some
| length the position of the Republican party
upon finance He spoke of the lack of def
initeness of the Presidents message on the
| larger questions of finance. The message
| had referred to Secretary Cages plan and
had invited attention to it. There was no
DOUBTLESS. said Mr.. White. if the President
did not approve the Gage plan he would
have said The senator then referred
ironically to the New York banquet last
night at which the President spoke. l1e
spoke of the men who had gathered at the
feast to consider means of improving the
conditions of the poor working man and the
farmer. 1t had been referred to as a Bel
shazzar feast" Mr.. White read in sarcastic
tones the press reports of enthusiasm at
references to the gold standard, ana the
"cold chill' which overspread the ban
queters at the mention of international BIZ
metalliSm. 1t was well established, de-
clared the senator, that the public utter
ances of Secretary Gage on the gold stand
| ard gave the real attitude of the admins
tration. There was In reality no difference
between the President and the secretary of
the treasury, and the latter had given out
not long ago that their views were in sub
stantial accord. In cloSing Mr.. White de-
clared that behind this resolution was the
great issue between bimetallism and the
gold standard, which from this time on
would be kept clearly in view, so that at
tempts to deceive the people would fail.
MR. WOLCOTTS REMARKS.
Mr.. Fairbanks, whose remarks are printed
elsewhere, was the next speaker. He was
followed by Mr.. Wolcott, the first speaker
under the ffteen-minute rule which went
into effect at 2 o'clock. Mr.. Wolcott thought
that any senator, whatever his financial
views, could vote for the Teller resolution,
as it involved nothing except the carrying
into effect of the governments plain obli-
cations. He thought that denunciation and
abuse heaped on those who support the res
olutlon were unWarranted, for he did not
| think the man was yet born who would be-
| tray his government by Offering to pay Its
obligations in spurious money. He referred,
with scathing sarcasm, to the sale of bonds
| by the Cleveland administration in 1894. de-
nouncing it as one of the darkest pages in
American financial history. He declared
| that the men of the West might be intrust-
| ed with the national honor. I'VE have,
he said never betrayed our government,
| and never Will We intend to pay all our
obligations in good money, and in nothing
else He felt that the resolution ought to
be passed without change, because it meant
| just what it said, and it's declarations were
| in no sense violation of the national honor
| either directly or implied.
| Mr. Morgan supported the resolution in a
| carefully prepared speech. basing his sup
| port on statistics and deductions indicating
the impossibilty of striking silver from
among the money metals" He felt that
amid the confusion existing it was clear that
| the people demanded the restoration of sill
| yer to coinage, and he thought such restora-
| from war, pestilence and famine.
Mr.. Foraker thought the resolutions
meaning ought to be made clear, it being
evident there was a great diversity of opin-
| ion on that point. He did not think the res
clution was any more than dec cls OF
| ton went. He thought the statement in the
resolution that such coinage as contem-
! plated by it was not in derogation of the
/ rights of creditors could only mean the free
| and unlimited coinage of silver He was
| therefore opposed to the resolution. Mr.
Il in Of int
! national bimetalism, or, as an alternative,
| to maintain the present financial status
| The enforcement of the terms of the reso-
| luton, in Mr.. Foraker's opinion, would not
| bring about bimetallism but would force the
| government to a silver basis.
Mr.. Chiffon, in q legal argument, advo-
! Gated the restoration of the standard silver
dollar to coinage and their use in the pay
ment of the governments obligations. He
| held that the pretensiOn of the bOndhOlderS
| that they were entitled to be paid in better
| money than the pensioner, the mechanic and
| the laboreI was not warranted by facts or
| by law.
Mr.. Nelson stated that his objection to
| the resolution was that it ignored the duty
| of the government to maintain the parity
| between the metals. as imposed on it by law.
F. The senator caused suppressed laughter in
| comparing the American silver dollar to the
! kept at parity with gold, could say, II
! know that my redeemer liveth. 1t was not
the bondholder who, rrofited by a sound
money, but the whole body of the people
was benefited by a wel-sustained parity and
| was injured by a MeXicanized dollar.
ALLISON EXPOSES TELLER.
Mr.. Allison spoke of the circumstances at
! tending the passage of the Stanley Mat
thews resolution in 1878. To him, it had not
meant at that time a declaration in favor
i of the free and unlimited coinage Of silver
| Other coinage measures were pending at
| that time and when one of these came over
| from the Houseithe senator from Colorado
! CTener) voted to strike out the provision
| for the free coinage of silver and voted for
| declared that when he being giDbeted
on the cross roads of public opinion for al
| legged inconsistency he wanted it known
| that the Colorado senator and the Ohio
| senator who introduced the resolution of
| 1878, Senator Matthews, had voted to strike
| cut a free-cOinage provision. The clear
| purpose of the pending resolution was to
| commit the country to the free and unlim-
! tied coinage of silver at Is 10 L. when it is
almost automatic, the senator declared, that
! such q course without concurrence of other
nations will lead us Inevitably to the silver
| standard alone and to silver monometaI-
| lism. 1t is as certain as the sun at MONDAY,
| said he, that such course will carry us to
! the silver standard ard that our gold will
| be baniShed. And yet senators were asked
1 to sanction this monstrous proposition
| ncnstrous in the change it proposed. Mr..
Allison reviewed his expressions for an in
! ttrnational agreement as the only means of
rchabilitating silver. and said the failures
| of the Wolcntt commission did not bring
| despair to those who saw in this method I'LL
| innate relief for silver.
Mr. Teller rose To explain that his vote in
/ 1875 referred 20 by Mr.. Allison. was given,
/ rot because of OpDOSitiOn free tOipa