The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-29
POINTS FROM THE DEBATE.
Numerous Speeches For and Against
the Resolution.

When the Senate convened this morning
routine business was laid aside and the
Teller resolution taken up at once. Mr.
Stewart was the first speaker. He MAIN
tanned that money, whether it be silver,
gold or paper, was a creature of law, the
creation of money being inherent in all in
dependent nations. He said that this state
ment had been upheld by the highest tri-
bunals and cited historical instances of such
creation of money. After a discussion of
the money question, Mr.. Stewart said re-
ferring to the speech of President Mckinley
in New York last night that he regretted
to see that the President had not studied
this question more deeply and that he was
utterly misguided. He quoted the following
sentence from the Presidents speech:
Nothing should ever tempt us-nothing
ever will tempt us-to scale down the sacred
debt of the Nation through legal techni~
cality Whatever may be the language of
the contract, the United States will dis
charge all of its obligations in the currency
recognized as the best throughout the civ
ilized world at the time of payment
Mr.. Stewart thought this was remark
able statement, which meant simply that
nothing but gold was good enough for the
bondholder Mr. Mckinley. said Mr.. Stew
art, refers to the option of the government
to pay it's obligations in either gold or sill
yer as a mere technicality. and he did this
too, in the face of his own vote in favor of
the resolution we are considering. Now, the
President calls this option of the govern
ment, worth thousands of millions, d mere
technicality. What language for Presi-
dent to usen' exclaimed Mr.. Stewart. 1--WE
cannot use this money in the treasury UNI
less it is recognized by other nations of the
world as the best money The deSpOtS and
gold SyndicateS of Europe are to name the
kind of money, regardless of what the law
of the United States may be-
Referring to Secretary Gage, Mr.. Stewart
said he believed the secretary to be honest
"a man who would not rob bank-but he
said, it was difficult for Mr.. Gage to look
at this question except from the standpoint
of a banker He thought it unfortunate
that the President had placed the Treasury
Department in charge of bankers but he
was glad the President had thrown off the
cloak and made the issue directly with the
people.
CANNON ALSO SHOOTS AT M'KINLEY.
Mr.. Cannon, of Utah. followed in support
of the resolution. He believed that the only
way in which the parity of silver and gold
as money could be maintained was to ac-
cord equal privileges of both metals at the
mints. He held that the only way to main
tain the parity was to pile up interest-bear-
ing obligations upon the people. He firmly
denied that the advocates of free coinage
were in favor of anything but 1OO-cent
dollar. I'VE do not believe. however" said
Mr. Cannon lin the deified dollar of Gro
Yer Cleveland, which is worShiped by the
present administration He criticised the
President for attending banquet of mill
ionaires in New York, there perusing his
menu bound iii gold, and then declaring in
favor Of paying the government obligations
in gold, in violation of the Nations rights
to dictate what money they should be paid
in. Mr.. Cannon said that if there was no
other reason for his support of the resolu-
ton. he would vote for it to serve notice
upon every creditor of the United States
that he should live up to the contract he
had entered into with the government
Mr.. Jones' of Arkansas. began his speech
in support of the resolution by critcsing
the position taken by Mr.. Allison, of Iowa
align those who held the various financial
beliefs He said the advocates of the resolu-
ton proposed to pay the full pound of flesh
due, but absolutely not a bit more. He read
q communication in financial newspaper
to the effect that there would not be much
serious opposition to the legislation pro-
posed by the monetary commission from the
'recalcitrant silver senator's Mr.. Jones
gave notice that the ''recalcitrant silver
senator's would have to be reckoned with
pretty seriously before any such legislation
as that proposed got through the Senate
He said he made the broad statement that
no Democrat, silver Republican or Popu-
list had ever declared in favor of paying
government obligations in deprecated
Why" interrupted Mr.. Aldrch. 1.-The
senator's own colleague (Mr. Berry, said
that If free coinage should not produce a
favor of paying our obligations in that
metal"
but he did not say that free coinage
would not produce such rise said Mr..
Jones.
sOh that is a mere refinement of Ian
guage" replied Mr.. Aldrich.
INV colleague" said Mr.. Jones.k sis able
to take care of himself and to define his
meaning"
Well / shall take NO that matter when
I speak" said Mr.. Aldrich.
HOW JONES WILL MARCH.
Mr. Jones, continuing, said that the news
papers unfriendly to- the cause were saying
that bimetallism was dead. II believe,
said the Arkansas senator. that the peo-
pies conviction upon this question is more.