The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-28
MORALS INVOLVED IN MONEY.
Continued from First Page

the question presented was one simply of
law, and not in any sense of morals. He
held that II conditions should so change
as to work hardships TO the government
creditors that was a misfortune, but not
violation Of the public faith.
MIR. Caffery of Louisiana delivered an
extended speech in opposition to the reso
luton. If this resolution means what is
attributed TO it, said he. lit clearly vio-
lates public morality, if 1 have proper
construction of what public morality is"
The men behind this resolution" de-
clared Mr.. Gallery, vehemently, ARE not
playing-not expending all this wind for
nothing I believe they hope to bring
about free coinage through executive ac-
ton, knowing that that is impossible by
Congressional action"
MIR. Smith of New Jersey followed Mr..
Canery. He said the adoption of the res
olution was either misunderstood or the
debate had taken such wide range as
to submerge the question. He saw no
necessity for the resolution. He had, in
deed, supposed that Mr. Aldrich was re-
sponsible for the resolution for purposes
of his own
Mr. Aldrich disclaimed all responsibility
and was promptly acquitted
Continuing, Mr.. Smith announced his in
tention of voting for the resolution on the
ground that it was not new declaration
In doing this h would not. however, sur
render his individual views on the free
coinage of silver. On this latter subject
ne had his views, which were that it would
be difficult for this country alone to main
tain free coinage at the present ratio.
Then" said Mr.. Aldrich, the resolu-
ton does not mean the restoration of free
coinage?"
Not as a legal proposition, I am as
sured,' Mr. Smith replied. He expressed
the opinion that the free silver advocates
were honest citizens, and that the govern
ment would be safe in their hands If 1t
was placed there by the vote of the people.
Mr. Cockrel supported the resolution
He discussed the bill at some length, TAX
ing up and defining various phases OF
financial enactments since 1897 to show
that United States bonds were properly
declared to be payable in silver He did
not think there could be any question
mat the bonds of the United States should
DC paid in standard silver at the option of
the government. That would be an hon
est equitable payment, which would sat
isfy the consciences of all rhe people and
every moral law. The Teller resolutions
means 10 restore the act of tS37-a free
coinage act-and would not be in deroea-
uon of the rights of the public creditor
Ate thought that as gold and standard sill
yer dollars were standard money and not
redeemable, there would be as much sense
IN talking of maintaining the parity of
gold with silver as of silver with gold
Every nation held the option of pavins.
ITS obligations in its standard money. said
Mr.. Cockrell The opponents of the bill
were working in the interests of the bank
ers of the world
"Oh oh, that we had in the White House
an Andrew Jackson cried Mr.. Cockren.
that ne might say to these bankers: 'Rv
the eternal you shall take the standard
silver dollars i'll payment of the obliga
tons you hold That would settle this
question very quickly"
Mr.. Cockren in the course of his re-
marks produced $40 gold piece. and in
CURED whether any Republican desired
TO give him for it twenty standard silver
collars. This proposition brought on an
interesting colioqUy between Mr.. Cockrell
on the one side, and Messrs Aldrich. For-
aKer ana Fairbanks on the other. con
corning the value of silver coins in Mex,.
co. Mr.. Cockrell said that a coins legal
tender quality left it the moment il lefr
the territorial limits of the government
which coined it, Mr.. Fora ker asked ~
It We're not true that with ore of on,
sllySr aoilafs TWO Mexican silver dollars
could not be purchased in Mexico
Mr. cCockreh replied that that might he
tfue' out 1t was because the standard sill
yer dollar was equal to a gold dollar The
other silver dollar was, he said mot legal
tender in Mexico and the standard silver
dollar was eXchangeable in Mexico for two
Mexican dollars, because those through
whose hands it was. passed were able 10
use II In the United States He maintain
ed that the value to gold and silver as
money was given to it by law and assert
ed that if gold was demonetized by the
commercial nations of the world it would
Instantly depreeiate He he'd that the
United States was great and powerful
enough TO coin silver freely and independ-
emily and yet maintain its value. He quot
ed the letter of Senator Allison in which
the latter held that the value of silver
and gold was conferred by legislation. and
MIR. Cockrell said that was the essence of
the whole question.
The Senate, at the conclusion of Mr.
CockrelPs speech, at $50 o'clock, adjourn
ed until Tomorrow