The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-01-28

of the adoption of tho resolution and the
enforcement of it's provisions would be
a policy fraught with great danger TO the
country and to the people.
MIR. Lindsay of Kentucky made speech
in support of the resolution. he declared
himself in favor of having all money OF
the United States kept equal to the best
money of the world, and he thought 1T
unfortunate that the advocates or sound
money should have accepted the issue
rendered them by the resolution not only
with the consciousness that they We're
wrong, but also with certainty tnab
they would be defeated. Mr. Lindsay
held that consideration of the resolution
was IA waste of time, as there was no rea-
son for its adoption at this time than for
the reaffirmation of the Declaration OF
Independence. He said that it was not
bad faith on the part of the governments
to pay obligations in any money autho-
rized by law.
Mr. Aldrich asked whether the coun-
try could commence free coinage and go
to o silver basis without derogation of
the rights of either the public or the pri-
vate creditor.
"It might be unwise,' replied Mr..
Lindsay, "but the question presented is
one of policy, not of good faith. The
law passed in a constitutional way and SO
maintained always determines the ques-
tion of good or bad faith.
Would it be in good faith, persisted
Mr.. Aldrich, ito pay the governments
obligations in a deprecated currency?"
Mr.. Lindsay thought the question had
been answered. He held tSat the oppo-
nents of the resolution had made false
lutions an important matter.
Mr.. Aldrich desired, to predicate a ques-
tion upon the statement that free coinage
of silver meant depreoiated currency, bat
he was challenged by Mr.. Berry of Ar
kansas, and Mr.. Teller. Mr.. Aldrich held
that Mr. Berry had admitted thai the
resolution, If enforced, meant free coin
age of silver and If silver should not de-
preciate in consequence he would favor
paying the governments obligations in
the deprecated money.
Mr.. Berry replied that he had not ad-
lnitted such would be the result Of the
resolution, but he did hold that if such
should be it's result the government had
an unquestioned right in morals and
law to pay in such depreoiated currency.
Mr. AIdrich-" That is what l thought.
MIR. Lindsay said it was never a VIOLA
tion of faith to keep contract in both
letter and spirit.
Mr.. Caffery Of Louisiana, delivered an
extended speech In opposition to the reso-
luton.
.sIf this resolution means what has
been attributed to it," he said, lit is
clearly violation of public morality. IL
I have any proper conception Of what
public morality is. -
s'The men behind this resolution de-
clared Mr.. Cafferty, "are not expending
all this wind for nothing. believe they
hope to bring about free coinage, know
ing that that is impossible by congress
sional action
Mr. Smith of New Jersey said he saw
no necessity for the resolution. He had,
indeed, supposed that Mr.. AldIich was
responsible for the resolution for pur.
pose of his own.
Mr. Aldrich disclaimed all responsibtli-
ty and wasSpromptly acquitted.
Mr.. Smith announced. his intention OF
voting for the resolution on the ground
tha it was not new declaration.
Mr.. Smith said he did not consider the
adoption Of the resolution would be an
injury to the financial credit of the coun-
try. He reiterated. in reply to |Ar. Al
drich, that he was opposed to fref
at the ratio of 16 to /.
Then" said Mr.. Aldrich. 8
tion does no mean the resi-
free coinage?"
ssNot as legal propositio
sured,' Mr.. Smith replied. He eas,- e-->,sl
the opinion that the free silver advocat-
ed were honest citizens and that the gov
ernrnent would be safe in their hands if
placed there by the vote of the country.
Mr.. Cockrell supported the resolution.
He cited various financial enaetments
since 1870 to show that United States
bonds were properly declared to be pay
able in silver.
He did not think there could be any
question that the bonds of the United
States could be paid in standard silver at
the option of the government.
The opponents of the resolution were
+1o in%o Of hcr Eoyza np ma
world.
.'Oh that we had in the White House
an Andrew jackson, cried Mr. Cockrell
s'that he might say to these bankers,
by the eternal, you shall take the stan
dard silver dollar in payment of the obli-
cations you hold. That would settle
the question very quickly.
Mr.. Cockrell produced $50 gold piece
and inquired whether any Republican
desired to give him for it 40 standard
silver dollars. This brought on an inter-
esting colloquy between Mr.. CockreH on
the one side and Messrs. Aldrich, Foraker
and Fairbanks on the other, concerning
the value of silver coins in Mexico.
Mr.. Foraker asked if it were not true
that with one Of our silver dollars two
Mexican dollars could be purchased in
Mexico.
Mr.. CockreIl replied that that was be-
cause the standard silver dollar was equal
to gold dollar and because those
through whose hands it passed were able
to use it in the United States. lie main
tained that value to gold and silver
money was given to it by law and assert
&c. that if gold were demonetized by the
commercial nations it would instantly
depreoiate. He held that the United
States was great and powerful enough
to coin silver feely and independently and
yet maintain its value. He quoted
speech from Senator Allison in which the
latter had said that the value in gold
and silver was conferred by legislation.
The Senate at the conclusion of Mr..
Cockrell's speech adjourned at $50 p. N.
until 10 q. m. tomorrow.