Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-27

| OF law, out OF nOnOr ana integrity ~
said that the advocates Of the pendinf
resolution maintained that by a crime
the price of silver had been reduced until
| the silver i'm a dollar was worth only 4
| cents, yet the same senators who made
the charge Of that "crime" advocated the
payment OF the governments obligations
in this deprecated money-money that
that had been deprecated, as they claim
ed BY crime
Tho Colorado Senator, when he rose tc
begin his speech. Mr.. Hoar said. cx-
pressed a desire TO resent something.
| In fact, he was always resenting some
thing.
Mr.. Teller rose TO call Mr.. Hoar's atten-
ton to another statement, and when ne
had done so Mr.. Hoar ridiculed' him by
likening him to the small boy. who was
asked what the cost of IL pounds OF beer
would be at cents a pound. and replied:
| You can't get no beef at no such price"
In the course of his remarks Mr.. Hoar
| referred incidentally TO the present INDUS
trial situation In New England, and It's
| relation to the Dingley tariff law. Fur
| Their along he reverted to the situation,
and briefly discussed it, He was satisfied
that the Industrial trouble in. New Eng
| land was not the outcome of the tarln
law. but arose from different causes. He
| was glad. and the people of New England
were glad, OF the industrial prosperity OF
South Carolina. Alabama, and Georgia,
| but he did hold that the people of New
| England did not want to be brought into
| competition with communities where long
| hours are the rule I'm industrial estaD-
| lishments, and where child labor was
employed I'm the factories. He said that
these practices were not known in New
England. where limited hours for work
men and no child labor were provided
for by law.
Mr.. Hoar was followed by Mr.. Pratt,
of Connecticut, in an address i'm oppo-
stion to the pending resolution. Mr..
Plat said that he had been endeavoring
since the opening of the debate TO as
certain what the purpose of the advo-
Gates Of the pending resolution was in
pressing H. but had been unable TO do
so. Unless it means something more
now" said Mr.. Plat, than it meant
twenty years ago, there is absolutely no
reason for It's passage. II is old and
mouldy. If this resolution means any
thing II means the free and unlimited
coinage of silver.
DANIEL FOR THE RESOLUTION.
Mr.. Daniel. of Virginia. followed Mr..
Plat in support OF the resolution. He
said that we were confronted upon all
sides with the clamorous statements OF
the gold men that agitation OF the finan-
cial question was unsettling business and
destroying the credit OF our people. Yet.
he said. the gold men were holding con-
ventlons, the financial question was being
investigated by congressional committees,
and the President of the United States.
in his message 10 this Congress, had adj
vanced propositions I'm support Of fasten-
ing upon the country the single gold
standard.
Mr.. Daniel maintained that IL was not
in violation OF public interest. as had
been suggested by the Senator from
Massachusetts, CMr HoaD. to pay the
bonds of the United States in silver, at
the option Of the government. He want
ed, he said, TO call attention to the fact
that the bulk of the outstanding bonds
had been secured from the United States
at reduced prices. and he maintained that
the payment of these bonds in the coin
of the country would amply repay the
holders. He expressed the belief that if
the conditions were reversed between the
bondholders and the government the for
mer would certainly take advantage of
any contract favorable to them.
Mr.. Daniel, held. therefore, that the
government was fully justified. in law and
in morals, in enforcing its contract, II
there were any advantage in it for the
government
He said there was no disposition to pay
the government obligations in discredited
silver bullion, but in finished silver dol
lars-dolars that were just as good as
gold dollars: dollars that would bring as
much as gold dollars in any market in
the world.
Mr.. Daniel thought the adoption of the
pending resolution would tend TO prevent
raids upon the Treasury, and he quoted
statement made by Secretary Sherman be-
fore a congressional committee in 1873 to
that effect but he maintained II did not
mean that any government creditor would
be paid in a clipped coin or In depre-
ciated currency.
After an extended discussion Of the
silver question as it relates to the pend
ing resolution. Mr.. Daniel asked Mr..
Hoar. of Massachusetts,, whether he
thought the 1881 10000 Of silver certiii-
cates ought. as an essential 10 the ma
tions honor be redeemed in gold
Mr.. Hoar replied that if such redemp-
ton were necessary TO maintain the
parity Of gold and silver coin, he would |
answer yes; but no such subtle ana com
prehensive question could be answered
briefly.
RESULT OF FREE COINAGE.
Mr.. Daniel maintained that II the ex-
periment OF free coinage of silver were |
tried. he was assured that the parity or |
the metals-silver and gold-would be re-
stored. His contention was. he said, sus-
tanned by philosophic deductions from the
history Of finance. All other experiments
had utterly failed TO bring about eX-
pected effects and he urged that the doc
trines to which the Democratic party ad-
hered. so far as they had ever been APP
piled. had restored the patient 10 health
that is. had restored the parity Of the
two metals
81 maintain here and now" said Mr..
Daniel. that every silver dollar that
would be operated on by this resolution
would be the peer Of every gold dollar"
Those senator's, he thought, who held
otherwise, were misstating the facts.
In response to an inquiry from Mr.
Aldrich as to the intent of the pending
resolution, Mr. Daniel said that he had
for twenty years been an advocate of the
free and unlimited coinage of silver.
ITO sum up and put 1t distinctly" said
Mr.. Daniel, 1.-THE Government of the
United States has 4j5.000,000 of standard
silver dollars. These are represented by
a mass of certificates. There is no law
for the redemption of a single
one of these dollars. or one Of these GER
tihcates. in gold but all OF them are
equal to gold. The pending resolution does
not hint at any proposition TO give 10 the
creditor anything but a
dollar"
Mr. Daniel concluded at o'clock. On