The times., 1898-01-26
THE LAW IS IGNORED
Senator Allison Uses It's Violation
As an Argument Against 1t.
THE IOWAN'S PECULIAR LOGIC
Senator Teller Earnestly Advocates
His Observation-Disclosures Civfliz-
alton Depends on the Restoration
of Silver-some Pertinent Ques-
tions Asked.

1t was twenty years ago yesterday
that the Stanley Matthews resolution
passed the Senate. This resolution was
exactly like the one now before the
Senate, known as the Teller resolu-
ton. 1t provides that the executive
branch of the Government shall pay
the debts of the Government, and the
interest thereon in either gold or silver,
at the discretion of the Secretary of
the Treasury.
The principal attack against the res
oiution was made yesterday afternoon,
and the line of argument was that the
Secretary of the 9'reasury already had
the right TO use his discretion, and that
the present system of gold redemption
was the result of the exercise of that
discretion.
Senator Allison of Iowa, led the
attack He said that it could not. if
passed, possibly affect the existing
condition of affairs, that no bonds
would mature until 1904, and that if it
were made statutory law it could not
go into effect until that time Continu>
ing, he said:
The proposition is simply this-that
L.
Suppose the effect shall be to reduce
the value of the silver dollar in our
own markets and place those dollars
at discount; then we violate the
statutes of 1898 and 1890, which declare
that We shall keep gold and silver at a
parity. Now, If il is thu purpose of
this resolution to contribute TO the de-
preciati- # the $500, G00, 900 Of silver
we have now in circulation; if it is its
purpose to in any way hinder or i'm
pair the power Of the Treasury to
maintain The parity, then let it be so
stated. But j hold that so long as the
statutes are upon our statute books it
is the duty OF the Secretary of the
treasury to use that power to main-
tain the parity of our money in circu-
lation.
Mr.. Stewart. Of Nevada, here wanted
TO know if the Senator contended that
the President has the authority to buy
bonds when he has coin in the Treas
ury to redeem them.
Mr.. Allison replied mat the Secre-
tary OF the Treasury, by the resump-
ton act, as construed by Congress and
by the President. has the discretion to
sell bonds whenever in his judgment
Ii is necessary to sell them to keep
sufficient coin in the Treasury, and. ne
continued, whether we wish to do
something to impair the credit of the
United States, or whether we wish to
uphold it, 1 can see no significance in
this resolution except TO menace our
credit
Senator Teller then made a very
earnest appeal on behar of the resolu-
ton He said: The American people
are weighed down with great burdens
which are growing harder and harder,
and no executive officer of the Govern
ment has right to add Is to 10 per
cent to them in order to preserve what
he calls the honor of the country.
j have seen the most disgusting
transactions that were ever witnessed:
have seen the nations treasury rob-
bed, and the men who stand here on
this floor making il ring with denun-
citation when an attempt is made for
Justice. / do not know, perhaps, but /
have tried to learn. 1 have given this
question hours of study that few men
have, and / believe that this is the
great question, that the money ques-
ton threatens this people not only. but
the enslavement of mankind through
out the world.
Il said in 1893 TO my countrymen
You are entering upon an era of in
dustrial slavery such as the world has
never seem MIR. President, it is here
now. With all your boasted prosperity.
you are closing down the mills of New
England. and deducting from the
wages Of the laboring man 10, Is and 20
per cent and making it impossible for
him to discharge the duties of citizen
ship, and then you tell us that all these
things are done in the interest of hon
Or, and labor must stand it. But the
gets the bounty.
Il say let this liberality be applied |
n ha -1aA ,+~,r
and integrity of the country. Would |
you look to your bondholder in your |
hour of distress? No, you would go to |
The man who blisters his hands in |
oil, and for him silver dollar is good |
enough, and he is willing to take it.
THE bondholder now, the money /
ender then, said to the Government.
We will take your securities at u per
cent What did the great body of the
American people do? They said. We
viii carry your flag and fight your bat
les and take the greenbacks worth 40
,ents on the dollar and no New Eng
and man arose then and said it is dis
lonest to give these soldiers 40-cent
follars. When they went into the
rmy the greenback was worth 100
ents, and, Mr.. President, we have
'een appealed to here again and again,
" petition and otherwise, to make up
o them the depreciation of the money
hey received from US, and not man
n this chamber or any other who holds
ow that the honor of the Government
5 being destroyed by the payment Of
liver would listen to that appeal
when the Senator from Nebraska
rose here and wanted an additional
Million or two added to the appropria-
ion for these old worn-out soldiers, if
he vote had been taken every man
,ho is prating about the honor of the
government would have voted against
i'm; il he got any votes at all ii would
ave been from men who believe that |
len are better than bonds"
Mr.. Teller was followed by Mr. Hoar,
Massachusetts, who spoke in oppo-
tion TO the resolution, and Mr.. Raw
ms. of Utah, closed the debate yester-
ay in Its favor.
Mr.. Rawlins made an eloquent plea
'r a strict compliance with the letter
the law by the Secretary of the
reasury.
The Senate viii be divided on party
nes, and there is no doubt that when
ne final vote is taken the resolution
i'll be passed.
4 Washington Medical Company.