New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-27
A QUESTION OF HONOR.
WHY REPUBLICANS OPPOSE THE TELLER
RESOLUTION.
THEY DECLARE THAT IT MEANS FREE slbNSN
COINAGE AND ITS PASSAGE "oUhO 'N
lure THE CREDIT OF TIE NATION
A DEBATE OF SIX HOURS



1.,,.A,ra,or Ion 2e-For more than six hours TO-
day the Senate had under discussion the Teller
resolution. providing that the Government may pay
tho nr,nc,pal and interest OF the bonds OF tho
United States In silver. BY agreement the reso
luton and pending amendments are TO DC vo'cu
upon before adjournment tomorrow Inc uepa'e
today was devoid OF the sensational incidents and
acrimonious colloouies which characterized tnat
of yesterday but II repete with argument ana
oratory The time was consumed by MT Teller
(Silver Rep. COLI. the author OF the resolution
and MI Daniel Dem. Va who supported the
resolution. and by Mr.. Hoar Nep.. Mass) ana
Mr. Platt Rep.. Comm. In opposition TO A. All
delivered set speeches except Mr. Hoar whose
speech was in reply to some points advanced by
Mr. Teller Yesterday No other business was
transacted.
THE DEBATE IN DETAIL
The debate was opened by Mr. Teller who said
he would permit man TO excel MIN IN hohol
~ in rood faith IT would DO nothing, he SAID
that would bring about such condition OF AZ
fairs as would be disgracefui. whatever the opinion
~ tho Senator from Massachusetts ONT tfoar) may
% OF my opinions or convictions. The Massachu-
,et,s Senator tried to make It appear that my po-
ution was on a parallel with the making OF 'eh-
solJar niece out Of a copper cent Such PROPOSE
aon 7 do not advance and do not think II would
snd much support In this or any other Legislative
BODY" Mr.. Teller said ne would be Wiling 70 re-
Ire from public life II by so doing he could BRING
about An international bmetallic agreement lie
maintained that the existing contract concerning
he money in which bonds OF the United States
we're payable could not be changed without action
81 Congress-one OF the parties TO tho contract
md that the Government had right 10 all the
advantages the contract afforded
Mr. Fairbanks asked Mr.. Teller whether tho
,resent Secretary Of the Treasury was now pay
ng out gold IN liquidation OF the bonded oohga-
ions Of the Government
IT don't know" replied Mr.. Teller. what the
Secretary OF the Treasury Is doing. My relations
with the present Administration are not such as
70 enable me 10 obtain information Of its acts
Being further pressed by Mr.. Fairbanks. Mr.
Teller said his belief was that the Administration
was paving the interest on coin obligations OF the
Government no such obligations themselves hav~
ing matured. in gold.
IT have absolute information retorted Mr. Fair-
hanks that the Administration Is paying the
obligations ! refer to in legal-tender notes. On
January l. 500 900 900 OF bonds matured. and am
informed by the Secretary Of the Treasury that
these bonds were paid. not in gold. not in silver
but in legal-tender notes
III that be So" said Mr.. Teller. we might as
we'll discontinue this debate and take vote upon
The pending resolution now" The point had been
reached though. Mr.. Teller. when the effort was
being made by the Administration 10 put the
country on a gold basis He thought there had
been too much sophistry and evasion on the fnan-
In the last twenty years. and. IN his opinion. the
time had arrived for all parties 10 walk suuareIy
I'D 10 the cannon's mouth Of the question and deal
fairly and honestly with themselves and the
people.
BONDS SOLD TO MEET DEFICIT
In response to a statement by Mr. Teller that
sas2 900 600 OF bonds we're sold for the purpose of
maintaining the gold standard. Mr. Gear said that
Il was we'll known that more than 100000 OF
those bonds were sold to meet deficit in the
Treasury
This statement was natly contradcted by the
Colorado Senator, who maintained that there was
10 necessity for the sale Of bonds TO meet current
expenses when thsre was plenty Of silver to meet
pressing obligations Of the Government Referring
IN the Presidential contest OF 1896 Mr. Teller said
that no political campaign In this country had
ever been characterized by so much bitterness
acrfmony and v!ndctiveness He conceded the
right he said Of others. 10 differ from him on this
md other questions. but he held he ought TO have
the same right The liberty OF the people. not only
~ this country but of the world, depended on the
riehtful solution Of the financial question he had
4 right to speak here for the great masses or tho
people and he took advantage Of 1t because he
felt that the fastening Of the gold standard on tho
country would simply make Of the plain people
hewers OF wood and drawers Of water In con-
sluslon after speaking about two hours and hsr.
Nr Teller replied 10 some statements made yes
terday concerning savings banks
Mr. LODGES AMENDMENT.
Mr. Lodge called attention TO some statements In
criticism OF all amendment offered by him ycster-
Saw to the pending resolution. The amendment de-
,lnred that thesobligatons OF the United States
.hould be paid in the money that Is the highest
money Of the world" in gold. or tts equivalent In
gold whether that be silver or paper Mr.
indge incurred whether Mr. Teller in favor
~ that amendment.
well I shall vote against IT," replied the Col
orado Senator. Mr. Lodge insisted on knowing
whether Mr. Teller did did not think tho amend
,,e,t nroner principle for Congress TO lay down
Mr. Teller stu held that the Government and the
governments creditors ought TO abide by contracts
made
81 desired 10 know" said Mr.. Lodge what tho
Senator from Colorado thought OF my Amendment
because 7 copied it word for word from a speech
-n.6e nv the Senator in which ne declared that
everv dollar this Government owes Will be paid In
N. money that Is the highest money OF the world
In gold or IT'S equivalent in gold whether mat De
s.lver or paper" Mr.. Lodge thought that II Mr.
Teller believed his statement was accurate when he
made f. ne ought not now TO OBJECT 70 supporting
II with his voice and vote.
Mr. Teller replied that he had never advocated the
payment Of the Governments obligations IN de-
preciated currency. and did not now.
QUESTION OF INTEGRITY.
Mr. Hoar followed in a speech In which he main
tained the position he took yesterday, that the
question under discussion not Of law, but
one OF honor and integrity. He said that the advo-
Gates Of the pending resolution maintained that by
q crime the price Of silver had been reduced until
the silver in a dollar worth only a cents yet
the same Senators who made the charge Of that
crime sdyoeated the Ray OF the Govern
money that had been deprecated, as they said. by
crime. Mr.. Hosr seid that II had been made evil
dent by the statements OF Senator Berry, to whom
ne referred honest, stalwart old Confed-
ers to who was willing to walk up to the cannons
mouth" Of the pending question that II the
purpose OF the silver men 10 80 into the campaign
OF 1900 and declare to be right and honest TO pay
obligations In Accent dollars, and 10 sgnatize as
"erabbers' and robbers" those who differed from
them upon the honesty OF such policy. The Colo
RADIO Senator when he rose 10 begin his speech.
Nh IIoar ALI exureAaed q desire