The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-26
HE DENOUNCES TILE BOND ROB,
Berry OF THE TREASURY.
HoAR, LODGE AND ALLISON OPPOSE
Mr.. Teller Favored the Payment of the Debts
of The Government in Silver, Even if
That is the Cheaper Metal
Lodges Amendment,
Lodges Amendment.

sion of the financial question. For
nearly four hours the Teller resolution
was under consideration, the principal
Iowa}, Mr.. Berry ARKANSAS and Mr..
Hoar Massachusetts, The sharpest
collcquy was at times indulged in be-
tween THE advocates and the opponents
of the resolution.
Mr. Butler North Cardinal offered an
amendment to the PoStoffice Appropria-
ton bill, providing for an extension of the
experiment of rural free delivery 10
every State and Territory of the Union,
and to as many sections OF those States
and Territories as possible. The amend
ments appropriate $25O,0O0 to cover the
expense of the proposed extension. Mr..
Butler spoke briefly in support of the
amendment, saying that it had been
drawn after full consultation with the
Postmaster General.
The Pension Appropriation bill was
passed after a number of amendments
by Mr.. Allen had been defeated.
The Teller resolution was laid before
the Senate.
AIr. Allison claimed that the pending
resolution gave the Secretary of the
Treasury no more authority under the
law than he now had. The Secretary
may now pay government obligations III
coin.
Mr.. Allison thought if it Were the
purpose of THE advocates of the pending
resolution to force depreciation of one
of the great moneys of the country they
ought to avow that purpose.
Mr.. Teller asked Mr.. Allison whether
the last statement in the pending rcsolu-
ton was true-that is, ''to restore to its
coinage such silver coins as IL legal
tender in payment OF said bonds. pTin-
ciIal and interest. is not in violation
of the public faith nor in derogation
OF the aishtis of the public creditor"
lit is not true in two respects. re-
Piled Mr.. Allison sWe have restored
in the second that the silver dollar is
Il legal tender
Mr.. Berry Den., Arkansas), in an
extended speech. declared that the pend
ing resolution was precisely the same as
that for which the Senator from Iowa
lAllison) voted twenty years ago.
: Mr. Hale (AIaine) said that when the
present law was put on the statute
hooks the silver was about twice as
valuable as lit is now. Mr.. Aldrich in
terjected to inquire whether in view OF
the fall in the price of silver The Senator
from Arkansas Berry believed the gov
errment ought to take advantage of its
creditors and pay them in the cheaper
metal.
Mr.. Berry replied that he was as much
in favor of maintaining the honor of the
country as the Senator from Rhode
Island, but he held that the bondholders
ought to be willing TO live up to their
contract and accept coin in payment.
Mr.. Lodge GMassachusetts) said thar
ii was we'll understood that the bond
purchasers were to be paid in gold as
they paid gold for the bonds, and he
quoted from a speech of Mr.. Teller
showing that he TELLER had the same
idea
Mr.. Berry denied that there was such
understanding and he would defy any
body to establish as a fact that there
was such.
In the course of his remarks Mr.. Berry
SAID that the country had before it
the spectacle of a Secretary of the Treas
ury who wanted to redeem silver dollars
in gold and firmly to fasten the gold
standard upon the country, yet the Pres
dent had not the nerve ito kick him out
of the cabinet"
Mr.. Teller Colorado followed in an
extended speech i'll support of the reso-
luton.
Mr.. Hoar dissented from Mr.. Teler's
proposition that this resolution involved
only u question of law and urged that It
had come now to a question of honor.
This is not question of law" said he
Mr.. Teller cOntended that he had quite
as much regard for the national honor
as had other members of the Senate
II ann getting tired" shouted Mr.. Tel
Ter, 'of the position assumed by certain
Senators here because they live in the
eastern part of this country. They are
no more honest, they are no more siren
uous in upholding the public honor than
j am. / want to say here and now
that ] believe in paying the debts of
the government in silver, even if that is
the cheaper metal.
'I'he Secretary of the Treasury is now
bound by law to regard the interests of
the people, but that department has
been making law to suit itself for
twenty years"
Mr.. Teller held that there ccnld be no
degradation in paying the debts of the
government in silver.
Mr.. Fairbanks arose and endeavored
to PROFOUND Il question to Mr.. Teller.
'fSit down. cried the Colorado Sena-
tor. 1--WE been badgered enough
AS Mr.. Fairbanks sat down Mr.. Tel
Ter said he would Tomorrow answer
the question, but he did not now desire
to be interrupted.
AIr. Teller declared in conclusion that
he had seen the National Treasury rob-
bed-a transaction the most dis2raceful
ever accomplished by a national admin
istration. In view of that fact he
Thought that the arrogatiOn to them
selves 10y the opponents Of the resolution
of all honesty was not warranted by the
facts.
Mr.. Hoar replied to Mr. Teller in II
speech in which he deplored the ire
markable effort of the Colorado Sena-
tor. He contended that the question