The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-29

Mr.. Jones said he made the broad
statement that no Democrat. Silver Re
publican or Populist had ever declared
in favor of paying government obliga-
tiOns i'll deprecated currency.
Mr.. Jones said that the newspapers ln-
friendly to the cause were saying that
bi-mctallism was dead. Il believe, SAID
the Arkansas Senator, THAT the people,
conviction upon this question is more
firmly fivcd than ever before. They are
determined to restore silver to its status
before 1873. and we shall do all we can
to accomplish that result
The first speech of the day in Opposi-
ton to the Teller resolution was dcliv-
cred by Mr.. Burrows, CMicho He said
the Republican party was pledged to Sc
cure if possible international bi-metal-
lism and the President would do every
thing in his power to carry out that
pledge. Meantime the existing gold
standard would be maintained.
Mr. White. california; supported the
resolution. He spoke of the lack of de
fnitcness of the Presidents message on
the larger questions of finance. The
Senator then referred ironically to the
New York banquet last night at which
the President spoke. He spoke of the
men who had gathered at the feast to
consider means of improving the cOndi-
ton of the poor wOrkingmcn and the
farmer. 1t had been referred to as
Belshazzars feast.
Mr.. Fairbanks, Gnd.). followed against
the resolution. He said the purpose of
the resolution was not frankly express
ed on its face. and it was only in the
course of the debate that it developed
that the essential purpose was to give
an expression of the United States Sen
ate favorable to the free and unlimited
coinage at the ratio of 16 to /.
Mr. Wolcott, Colorado, was the first
speaker under the fifteen minute rule
which went into operation at O'Clock.
He thought that any Senator, whatever
his financial views. could vote for the
Teller resolution as it involved nothing
except the carrying into effect of the
governments plain obligations. He re-
ferred with scathing sarcasm to the sale
&C bonds by the Cleveland administra-
ton in 1894. denouncing it as one of the
darkest pages in American financial his
tory.
Mr. Morgan (Alabama) supported the
resolution in carefully prepared
speech. basing his support upon statistics
and deductions indicating ''the impos-
money metals"
Mr. Foraker (Ohio) thought the state
| ment in the resolution that such coinage
as contemplated by it was not in de-
rogation of the rights of creditors could
only mean the free and unlimited coin
age of silver. He was therefore op-
posed 10 the resolution.
Mr. Chiffon (Texas) in a legal argn
| ment advocating the restoration of the
standard silver dollars to coinage and
| their use in the payment of the govern
ment's obligations.
Mr.. Nelson (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.
Mr.. Allison spoke of the circumstances
attending the passage of the Stanley
Matthews resolution in 1878. To him.
it had not meant at that time a declara-
ton in favor of the free and unlimited
coinage of silver. The clear purpose Of
the pending resolution was to commit
the country to the free and unlimited
coinage of silver at IS to 1. when it was
almost automatic. the Senator declared,
that such course without concurrence
of other nations will lead us inevitably
to the silver standard alone and to sill
yer monometallism.
Mr.. Gray DeIaware) urged that the
resolution could accomplish nothing and
was the hollow expression so far as af-
| fecting the character of money in which
our bonds were to be met. He regarded
the resolution itself as expressive of
truism and while superfiu0us he would
vote for it.
~ n Al.
free coinage of silver would restore the
parity between gold and silver.
Mr. Bacon tGcorgia) held that the
resolution applies distinctly to the sill
yer-five hundred ENTHUSIASTICALLY coin
ed and which ehall be coined i'll the
future. He maintained that the pend
ing resolution was most important as Il
declaration of the legislative branch as
to the duty of the executive branch Of
the government.
Mr.. Thurston (Nebraska) said that
the legal obligation of the government
was set forth i'll its contracts and there
IS no need now to restate the terms or
those contracts He denied the right of
any government to pass upon its credi-
tors any but the best dollars of the
world.
Mr.. Iillman (S0uth Cardinal thought
| this discussion was simply the manoeu-
vering Of the great political parties for
position in the great contest that was to
be fought III 1900. The people. he said,
would win in that contest as they hai
won III every fight they had ever made
for freedom. He denounced as hypo-
crisy the financial plank of the Republic
| can National platform and insisted that
it was an effort to fasten the gold stand
ard on the country.
Mr.. Hawley (ConnecticuD said the
pending resolution simply looked to the
payment of the national debt in forty
| three cent dollars.
Mr.. Gallinger (New HAMPSHIRE be-
ieved i'm the payment of the nations
debt in the best of money Of fixed ma
tional. as we'll as international, value
| ANY other action upon the part of the
government would be Il national dis
grace.
Mr.. Elkins West Virginia. thought
that as legal proposition the resolI-
tjon could not be successfully assailcd,
lrnt he could see no reason for its pas
sage now. He said there We're times
when the bondh0Idcrs could he treated
with indiffarance but he asked Mr. Tel