The record-union., 1898-01-29
BONDS CAN Be
PAID IN SILVER.
Continued from First Page.s

Wolcott of Colorado was the first
speaker under the fifteen-ninute rule.
Which went into effect at p. m. he
thought that any Senator, Whatever
his financial views, could vote tor the
Teller resolution, and it involved notn-
Ing except the carrying into effect OF the
Government present obligations. lie
felt that the resolution ought 10 pe
passed without change, because IL
meant just what it said, and ITS oec-
larations were in no sense Vlolatloh
Of the national honor, either direct or
implied
Morgan of Alabama supported the
resolution in a carefully prepafeo
speech, basing his support upon statls-
tics and deductions. and indicating the
impossibility of striking silver from
among the money metals. he teIt
that amid the confusion existing 1t was
clear that the people demanded the
restoration of silver to coinage, and he
thought that such restoration would be
as the delivery of mankind from war,
pestilence and famine.
Foraker of Ohio thought the resolu-
tion's neaning ought to be made clear,
it being evident there was a great di-
versity of opinion on that point. He
did not think the resolution was any
more than declaratory of the law, and
that was as far as the declaration went.
He thous ht the statement in the reso-
luton that such coinage was contem-
plated by it was not in derogation Of
the rights of creditors, and could only
mean the free and unlimited coinage
oils IL All
to the resolution.
Chiffon of Texas, in a legal argument,
advocated the restoration of the
standard silver dollars to coinage, and
their use in the payment of the Govern
ment's obligations. He held that the
pretenslon of the bondholders that they
We're entitled to be paid in better money
than the pensioner, the mechanic and
theNao5rer was not warranted by facts
or by law.
Nelson of Minnesota stated that his
objection to the resolution was that it
ignored the duty of the Government
to maintain the parity between the
metals as imposed upon it by law.
Allison spoke of the circumstances
attending the passage Of the Stanley
Matthews resolution in 1888. To him,
it had 1ot meant at that time declara-
tion in favor of the free and unlimited
coinage of silver. Other coinage meas
ures were pending at that time, and
when one of these came over from the
House, the Senator from Colorado
CTeller) voted to strike out the provis-
ion for the free coinage Of silver, and
voted for the limited coinage agree-
ment.
Allison declared that when he was be-
ing sibbeted on the cross road of public
opinion for alleged Inconsistency, he
wanted it known that the Colorado Sem
ator and the Ohio Senator who intro
duced the resolution of 1878, Senator
Matthews, had voted to strike out a
free coinage provision. The clear pur-
pcse of the lending resolution was to
commit the country to the free and un-
limited coinage of silver at 16 to 1,when
1t was almost automatic, the Senator
declared, that such a course, without
concurrence Of other nations, will lead
us inevitably to the silver standard
alone and to silver 1nonometallism.
Gray (D.) Of Delaware urged that the
resolution could accomplish nothing
and was a hollow expression so far as
affecting the character of money in
which our bonds were to be met Gray
did not regard that subject as in any
way involved in the resolution, so that
he would vote on the question wholly
without reference TO the silver issue
brought into the debate
Allen Of Nebraska insisted that the
free coinage of silver would restore the
parity between gold and silver.
Thurston of Nebraska said that the
legal obligation of the Government was
set forth in its contracts, and there is
no need now to re-State the terms of
ahoSe contracts. He would, he said, SO
far as his power was concerned. follow
his party in its declaration TO maintain
the parity of all the dollars of the Gov
ernment. He pointed out that since
the Republican party came into power
every dollar paid to labor, whether 1t
was silver or paper or gold, was as good
as the best dollar ever coined
Tillman OF South Carolina thought
that this resolution was maneuvering by
the great political parties for position
in the great contest that was to be
fought in 1900 The people he said,
would win in that contest, as they won
in every fight they had ever made for
freedom.
Hawley said that the last original
Stanley Matthews Act had no force, as
it was mere campaign threat and did
not have about it enough Of chemical
qualities 70 make a stencil. The Amer
lean people would never consent to the
payment of their debts in anything but
the best money.
Aldrich OF Rhode Island said ii had
not needed the declaration Of Vest tc
disclose that this issue was the opening
of the campaign Of 1898. I'VE intend
to meet this issue squarely," declared
Aldrich. I'VE are responsible to the
great party we represent, and beyond
that to the American people, and we
propose, so far as we may, to pain-
tain the honor and the credit of the
Government"
Ald1ich closed just as the clock
marked g. the hour set for voting, and
the Vice-President promptly announced
that the voting would proceed. At this
time the galleries were filled to over
flowing. and a large number OF mem
mers of the House. including Speaker
Reed. occupied the area back OF the
Senators
The Nelson amendment was first pre-