The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-28

work hardships to tie government creditors
that was a misfortune, but not violation
of the public faith
Mr.. Gallery delivered an extended speech
in opposition to the resolution. IT TINS
resolution means what has been attributed
to i" said he. IT Is clearly q violation ct
public morality Ii have any proper con-
ception Of what public morality is. Ihe
men behind this resolution, declared Mr.:
Caffery. yehemently, ARE not playing-not
expending ali this wind fer nothing ! be-
lleye they hope to bring about free coinagq
through executive action. knowing that
that is impossible ~ congressional ae-
Mr.. Smith followed Mr. caffery. He said
the adoption Of the resolution was either
misunderstood or the debate had taken such
q wide range as 10 submergo the question.
He saw nc necessity tor the resolutions. lie
had. indeed, supposed that Mr. Aldrich was
responsible for'etlte resolution for purposes
Mr.. Aldrich discaimed all responsibility
and was promptly acquitted
Continuing Mr. Smith announced his in
tention of voting for the resolution ON the
ground that Il was not new declaration.
render his sndivIdual views on the free COIN
age OF silver. On this latter subject ne nsto
MS views Wnlcntwefe that II Woulu De u t
cult for this country alone to maintain Tree
coinage at the present ratio.
DOES NOT MEAN FREE COINAGE
Then said Mr.. Aldrich, ''the resolution
does not mean the restoration OF free COIN
age?"
Not as legal proposition. ] am as
sured" Mr. Smith replied. He expressed the
opinion that the free silver advocates were
honest citizens, and that the government
would be safe in their hands, If placed there
by the vote OF the country.
Mr. Cockrell supported the resolution. He
discussed the question at some Length, tax
ing up and defining various financial enact
1nents since 1876. TO show that United states
bonds We're properly declared to be pays.ple
in silver. He did not think there could pc
any question that the bonds of the United
States should be paid in standard silver &C
the option of the government IhaJ Wouiu
be an honest, an equitable payment Whlcn
would satisfy the conSciences of all the peo-
pie and every moral law. The Teller resolu-
tion means that TO restore he act OF lSSf-tt
free-coinage act-would not be III derOSatloH
of the rights of the pubic crsdltor. he
thought that gold and standard silver
dollars We're standard money and not re-
deemabie, there would be as much sense n
talking of maintaining the parity OF gold
with silver as of silver with gold NO nat'oH
of the world has ever yielded the option OF
paying it's obligations in It's standard mon
ey, said Mr.. Cockrell The opponents of the
resolution We're working In the interest OF
the bankers of the world. oh shat we had
In the White House am Andrew Jackson,
cried Mr.. Cockrell that he might say 10
these bankers; BY the eternal: you snail
take the standard silver dollar IN payment
for the obligations you hold. That would
settle the question very quickly"
Mr. Cockrell, In the course OF MS re-
marks produced u twenty-doliar gold piece
snd inquired whether any Republican de-
sired to give him for ii forty standard sill
y er dollars. This proposition Brought on an
interesting colloQuy between Mr.. Cockreh
on one side and Messrs Aldrich, Foraker
and Fairbanks on the other concerning the
value of silver coins in Mexico Mr.. Cock
rel said that a coins legal-tender quallty
left it the moment 1t left the territorial
limits of the government which coined H.
Mr. Foraker asked if II were not true that
with one of our silver dollars two Mexican
dollars could be purchased in Mexico.
Mr.. Cockrell replied that that might be true,
but il was because the standard silver dol
lar was equal to gold dollar Our silver
dollar was not. he said, legal tender III
Mexico. the standard silver dollar being eX-
changable in Mexico for two Mexican dol
lars, because those through whose hands 1t
passed We're able to use ii III the United
States. He maintained that value TO gold
and silver money given to 1t by law.
and asserted that if gold were demonetized
would instantly depreciate. He held that
the United States was great and powerful
enough to coin silver freely and lndepend-
emily and yet maintain its value. he
quoted a speech of Senator Allison, in which
the latter had said that the value of gold
and silver was conferred by legislation and
Mr.. CoclIrell said that was the essence of
the whole question.
The Senate, at the conclusion of Mr.. Cock
rell's sDeech. adjourned, at $3.50 p. M, on
motion of Mr.. Vest until 10 a. m. to-mor-
row.