Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-29

$500 ''f''t ~ < q CLOCK. lie IupEKDt
'n"' any senator, whatever his financial
views, could vote for the Teller resolu-
ton as 1t involved nothing except the
carrying into effect OF the governments
plain obligations.
CLEVELAND BOND SALES.
F. He referred with scathing sarcasm to
ne safe OF bonds by the Cleveland Ad-
Hlnistration In 1894. denouncing II as one
OF the darkest pages In American financial
history.
Mr.. Morgan. OF Alabama. supported the
resolution In a carefully prepared speech.
passing MS support upon statistics and de-
uuctlons, indicating THE lmpossbility Of
striking silver from among the money
metals"
Mr.. Foraker. OF Ohio. thought the state
ment Ia the resolution that such coinage
as was contemplated by 1t was not in
derogation OF the rights OF creditors
could only mean the free and unlimited
coinage OF silver. He was. therefore. op-
posed TO the resolution.
Mr.. Chiffon. of Texas, In LEGAL argu-
ment advocated the restoration of the
standard silver dollar to coinage. and its
use In the payment of the government
obligations
Mr. Nelson OF Minnesota. stated that
his objection TO the resolution was that
- tHhViVO tue Qul1 Oh the government
to maintain the parity between the
metals, as imposed upon 1t by law.
THE MATTHEW'S RESOLUTION.
Mr.. Allison spoke Of the circumstances
attending the passage of the Stanley Mat
thews resolution in 1878. To him Il
had not meant at that time a declaration
in favor of the free and unlimited coinage
OF silver. The clear purpose Of the pend
ing resolution was to commit the country
10 the free and unlimited coinage of sill
YER at 10 TO l, when It was automatic, the
Senator declared that such a course,
without the concurrence of other nations
would lead us inevitably to the silver
standard alone, and to silver Mono
metallism.
Mr.. Gray, of Delaware. urged that the
resolution could accomplish nothing, and
was a hollow expression, so far as IT af-
fected the character Of the money in
which our bonds were TO be met He re-
garded the resolution itself as expressive
of a trusm. but while it was superfluous,
be would vote for it.
Mr.. Allen. of Nebraska, insisted that
the free coinage of silver would restore
the parity between gold and silver.
Mr.. Bacon, of Georgia, held that the
resolution applies distinctly to the silver
$500. 900 0o0-already coined, and 20 that
which shall be coined I'm the future. He
maintained that the pending resolution
was most important. as a declaration OF
the legislative branch on the duty OF the
executive branch of the government.
Mr.. Thurston. of Nebraska, said that
the legal obligation of the government
was set forth in its contracts, and there
is no need now to restate the terms of
those contracts. He denied the right of
any government to pass upon its credit
ors any but the best dollars Of the world.
PARTY HANDWRITING.
Mr.. Tillman, of South Carolina. thought
this discussion was simply the maneouv-
ring Of the great political parties for posi-
ton in the great contest that was to be
fought in 1900 The people. he said, would
win in that contest, as they had won IN
every fight they had ever made for free
dom. He denounced as hypocrisy the
financial plank Of the Republican national
platform, and insisted that it was an eff
fort to fasten the gold standard on the
country
Mr.. Hawley. Of Connecticut. said the
pending resolution simply looked TO the
payment of the national debt in 4S-cent
dollars.
Mr.. Gallinger, of New Hampshire. be-
lieved in the payment OF the nations
debts in the hest of money of fixed ma
tional. as well as international, value.
Any other action upon the part of the
government would be a national disgrace.
Mr.. Elkins, Of West Virginia, thought
that as a legal proposition, the resolu-
ton could not be successfully assailed,
but he could see no reason for its pas
sage now. He said there were times when
the bondholders could be treated with
Indifference, but he asked Mr.. Teller whe-
Their if war were declared tomorrow, he
would introduce such a resolution as
this. 1t would be perfectly evident that
we could raise no money on bonds in
the markets of the world, If the declara-
tions of the resolution were enforced.
because their enforcement would mean
the free coinage of silver
MIR. Warren, of Wyoming, announced
his purpose TO vote for the resolution.
The resolution meant no surrender of the
honor credit, and dignity of the nation.
Mr.. Cullom, of Illinois, announced brief
iy that he would vote against the resolu-
ton. because it was a step toward free
silver.
Mr.. Butler. of North Carolina, advo-
Gated the resolution, saying that instead
of destroying the parity of the metals
as had been asserted, it was intended to
sustain that parity by keeping both
metals, like both arms. in equal use. 1t
was alleged, he said, that the national
honor was at stake, but was not honor
due the taxpayer as well as the bond
holder?
Mr.. Rawlings, of Utah, said the ques-
ton was simply one of paying bonds in
accordance with legal obligations, or III
the so-called best money" of far greater
value than the money with which the
bonds were bought.
OPENING OF THE CAMPAIGN.
Mr.. Aldrich said it had not needed
the declaration of Mr.. Vest TO disclose
that this issue was the opening of the
camnaign of 1900 1t was the opening of
a contest between those who favored
cheaper money and those who believed
The United States was bound at every
hazard to maintain the parity of every
dollar ever issued by the government. AT
a time when the Republican party was
seeking 10 strengthen the currency OF
the country. this miserable measure was
brought forward. ,.. >,
1--WE intend TO meet TINS ISSUE squ"iei3'
declared Mr.. Aldrich.
Mr.. Aldricb declared that the resolution
Was an absurdity, in that it was "a con-
current resolution" in which the House
did not concur Hence 1t would be nope
rative. even as an expression Oh sshu-
mont even by the Senate.
Mr. Aldrich closed just as the CLOCK
marked 6. the hour set for voting, ana the
Vice-President promptly announced lhdt
the voting would proceed.
numher of amendments that had been
ofrored during the debate were laid on the
80 The vote on the Lodge amend
ment TO pay bonds in gold, was as ioi-