Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-26
ACRIMONIOUS DISCUSSION OF THE
FINANCIAL QUESTION.
ON HIS RESOLUTION.
SAYS HE RELIEVES IN PAYING THE
NATIONAL DEBT IN SILVER.
Declares BOndhOIders Are Entitled to
No Better Money Than Are La
bOrcrs-yest Thinks Free
Coinage Would Restore
Silver's Value.

Washington. Jan. 25.-To-day's session Of
the senate was characterized by Il heated,
| almost acrimonious, discussion of the fnan-
| cial question. For nearly four hours the
Teller resolution was I'm Ter consideration,
the principal speakers being Mr.. Allison.
of Iowa; Mr.. Berry, of Arkansas, and Mi.
Hoar, of Massachusetts. The sharpest col
loquy was at times INDUCED in between the
advocates and the opponents of the reso-
luton. the debate often approaching bitter
ness. The feature of the discussion was IL
speech delivered by Mr.. Teller, author of
the resolution, his statements calling out Il
suggestion from Mr.. Hodr that he IMr.
Teller> ought to have them stricken from
the record. In response to an inquiry by
Mr.. Spooner, Mr.. Vest admitted that he
thought the system of coinage referred to
in the resolution meant the free and I'M
limited coinage of silver, that admission
apparently giving satisfaction TO the OPP
ponents of the measure.
In opening the debate on the Teller reso-
luton. Mr.. Allison reviewed the history of
the Stanley Matthews resolution. maintain
ing that his purpose at that time was not
in opposition to public interest or in dcroga-
ton of the rights of public creditors. He
insisted that the pending resolution gave
the secretary of the treasury no more
authority under the law than he has now.
Inc secretary may now pay government OBJ
legations in coin. He held that there was
no disposition on the part of the admin
i%stration to evade the law. and declared
that the Republican party had maintained
that ii ought to be the purpose of the gov
eminent to maintain the gold and silver
money of the country at Il parity.
Mr.. Tillman asked Mr.. Allison whether he
would say in terms that the bond obliga-
ton of the government We're payable in
silver.
In reply. Mr.. Allison quoted the law. that
the bonds were payable in coin; but that
was not satisfactory to Mr.. Tillman, who
insisted upon an answer, yes or no.
Mr.. Allison declined to have words put
into his mouth.
In response to a question of Mr.. Teller.
Mr.. Allison said he thought it would be
proper for the secretary. of the treasury
in either silver or gold.
But declared Mr.. Allison. the secre-
man. in reaching his decision q as to acton
upon that point. must take into considera-
ton existing conditions. one of which is
that this government is pledged to MAIN
tain the gold and silver currency. OF the
country at a parity"
Mr.. Allison Thought if it We're the pur-
pose of the advocates of the pending reso-
luton to force-a depreciation OF one of the
great moneys of the country. they ought
if the objects of the silver advocates were
carried into effect. it would be impossible
to maintain the parity of gold and silver
the resolution would strengthen the credit
of the country, l should certainly vote for
it."
Mr.. Berry. Democrat. of Arkansas, in an
extended speech. declared that the pend
ing resolution was precisely the same as
that for which the senator from Iowa (Al-
liSOn) voted twenty years ago. If it was
not IL violation of public faith then, he
maintained, it could not be such now. One
of the reasons why Mr.. Berry was deSir-
that it would disprove the charge brought
in 1886 that the Democratic party was COM
posed OF repudiationists and dishonorable
Mr.. Aldrich. of Rhode Island-"Do you
desire to take from the secretary of the
treasury his discretion to pay government
obligations in either gold or silver"
Mr.. Berry-'The trouble is that the sec
retary of the treasury has turned over the
government option to the bondholders."
Mr.. Aldrich-.Would the passage of the
resolution by the senate and house OF rep
secretary of the treasury
1T would" replied MIR. Berry. but I am
satisfied: in view of the recent actions and
In the course of his remarks. Mr.. Berry
SAID that the country had before it the
srcetaele of a secretary of the treasury, who
firmly to fasten the gold standard upon the
country, yet the president had not the
In conclusion. Mr.. Berry made an appeal
for the passage of the resolution on the
ground of public interest.
Mr.. Teller. of Colorado, followed in an ex-
tended speech in upper of the resolution.
He declared that it was a question of law
which he would endeavor to discuss.
he would not obey the Instructions"
Mr.. Hale, of Maine. said that when the
present law was put on the statute books
the silver was about twice as valuable as
it is now. and Mr.. Aldrich interjected to
INQUIRE whether. in view of the fall i'll
the Price of silver. the senator from Ar
kansas Derry believed the government
ought to take advantage of its creditor and
pay him in the cheaper metal.
Mr.. Berry replied that he was as much
in favor of maintaining the honor of the
country as the senator from Rhode Island.
but. he held that the bondholders ought
to be willing to live up to their contract
and accept coin in payment.
Well inquired Mr.. Foraker, of Ohio.
docs this resolution mean the same now
as it meant twenty years ago?'
Being a question of law" replied Mr..
Teller. lit can mean nothln, else"
But. was not the resolution of twenty