The times., 1898-01-29

providing that if at the time of the
payment of the principal and interest
of the bonds the market price OF silver
was notat a par with gold at l6 to /,
the principal and interest should De
paid in gold or silver at the option OF
the creditor. This was laid on TIE
table without a yea and nay vote
The debate of the day began at 10
o'clock in the morning with speech ny
Senator Stewart, of Nevada
Mr.. Stewart said that the rise anu
fall of nations had followed the Out
mt of the mines with as much certain
~ as night has followed day. Niieii
new discoveries had been made IN SolG
or silver. ii infused new blood, as IL
were. into the life OF the nations. from
1850 to 1873 was the most prosperous
period i'm human history. He declared
that when. at the latter date, silver
was legislated against, it had produced
an increasing depression. In view OF
the fact that the world was working
well in 73, il shows a degree OF van
dalisln in our legislation.
Nlr Stewart said he regretted the
fact that the President was SO ignorant
in regard To this question, and he read
from this mornings Times an extract
from Mr. Mckinley's speech last night
i'm New York, in which he implies that
the homer of the nation demands that
only gold be paid for bonds.
The climax is capped said Mr.. Stew
art, When the opponents of this reso-
luton declare that honesty requires
us to rob the people.
What man would give the Govern
ment over TO importers or saloon men?
So / say that Mr.. Gage is an honest
man: that is. he would not rob
bank: but he, on account of his pre-
yious experience and environments,
can only see the interest OF bankers,
and sees no harm in taking the money
of the people and locking it up in the
banks
He said that he was glad the cloak
had been thrown off and that the people
can see the real attitude of the Re
publican party. 1t is plain what their
attitude is when the President elected
by them says: Never mind the Ian
GUage OF the bond; we will not
pay in United States money, but in the
best money in the world"
Mr.. Cannon of Utah followed He
began his remarks by saying: Il have
the temerity to resent the insinuation
that those Senators who vote for this
resolution repudiate the honor of the
nation. There is nothing in the Ian
Suage of the resolution which, now, in
the year 1928. or which in the year 1873,
Justifies such a statement The men
TINS body or in the House of Repre-
sentatyes, stand as the guardians of
the obligations Of the Government
The charge has been persiStently
made and as persistently denied, that
the advocates of this resolution are in
laVor Of paying the obligations. both
public and private. in cheaper money,
IN cheaper dollar. Mr. President, I
believe in a cheaper money. / believe
h.a ls1l IL.
m nj Of our obligatioGs. both public and
private, should be cheaper. but / do
not countenance the doctrine that one
dollar should be cheaper as related to
another dollar, but that all dollars
should be cheaper as related to things
The purpose of THOSE who hold the
doctrine of the free and unlimited
coinage of silver is not to make silver
dollar cheaper than gold dollar, but
10 increase the volume of dollars in
this country, so that those who produce
things shall find cheaper dollar with
which TO discharge the obligations
which rest upon the Government. upon
communities, upon municipalities and
upon citizens.
Every dollar in this country is too
dear in its relation to the flesh and
blood OF our people; too high in its re-
lation to the toll which produces
IL
fled dollar of Grover Cleveland. the
worship of which is continued under
this Administration, and boosted of by
the Chief Executive of the nation who
attends banquets in New York, reading
his menu bound in gold and pledging
away the rights Of the people of this
country; giving his personal obliga-
ton in behalf of 10000. 900 of people.
betraying the trust reposed in him BIZ
T..tf
matter what the contract calls for, this
country VIII pay in the highest money
in the world.
We do not follow where that evil
doctrine leads; We do not countenance
that treason to human rights. We
hold that the most sacred observance
of an obligation is found in the fulfill
ment of its letter and in its spirit.
Mr.. Cannon argued that it would be
setting an example of reputation to
every State in the union if the Con-
sress should say in effect, by not pass
ing this resolution, that the contract
could be lightly dealt with. In conclu-
sion. he said: Mr.. President I shall
vote for this resolution: first. becanca
| think it is timely notice to be served
by the Senate of the United States thai
the rights Of the people have NOT yer
passed beyond its control: and I cboll
pacity / desire to serve notice unon mn,
constituents abroad. and upon an tbe
people who shall care TO observe my.
Vote, that l believe in preserving tha
sanctty OF contracts, both public and
private" -iA
Senator Jones Of Arkansas smoke
next he spoke of the steady but sure
tendency, as evinced by both the Ut
terances and acts of the Administra-
qpt hn
lsiate against the masses i'm this inn
poItant line He stated that there
We're two bills now before the House
one as a result Of the Indianapolis CON
Yention, the other framed by Secretary
Gage. both of them were directed 10
the establishment of the gold standard
and both had the support of the Ad
mlnistrauon.. Mr.. Jones said that Re
publican newspapers were saving that
this great question would no longer he
a political issue. but that he believed
the people were behind the movement
and that II all the recognized leaders
on both slG>-S were to drop the ques-
tion, the people would still make If tba
issue and settle il in their own inter-
est.
AIR. Burrows. Of Michigan. spoke in
opposition TO the resolution. He char
acterized the resolution as "a fresh as
sault on the public credit and The ma
tiOnal honor"
Mr White. of California. made an ar
Sument in support Of the resolution. He
asked whether anybody knew what the
Position of the Republican parry ON
The financial question was. The Sec
fetarT ef the Treasury. he said de-
clared absolutely for the gold standard
and it would be Interesting to know
what the President really Thought
about the Secreta1ys plan. His onin-
ION certainly could NOT he ad,-o,.c.a- =.