The record-union., 1898-06-02

standard money. with the free coin
age OF both under system of bimetal-
lism which will insure the parity in
value of the coins Of the two metals.
furnish a sufficient volume of metallic
money, and give immunity to the world
Of trade from the violent fluctuations
I in exchange"
Referring to the general feature OF
t. BILL Chandler declared that the OPP
ponents Of the existing war should not
] be allowed to make it unpopular by the
infliction upon the people of onerous
and in-adviSed taxation. He urgeo
that it was better to await the develop
ments of the war before making exten-
I sive provision for it. few months
hence he thought, it would be far
easier than it now is to determine what
amount of taxation should be levied.
Chandler announced his opposition 10
the issue of legal tender notes. In his
opinion however the proposed coinage
of the silver seigniOrage was an en-
tirely different thing. He saw advan-
tages that would accrue to the country
from the conversion of the seigniorage
into money, and not the least danger.
He was not in favor of ten year s.
per cent. bonds as the cheapest way or
raising needed funds for the prosecu-
ton of the war.
Chandler then began discussing the
financial situation, in which he opposed
the gold standard and advocated BIZ
metallism. In the course of discus
sion of the Administrations effort to
secure international bimetallism. Cham
dler criticised Secretary Gage sharply
for the position he had assumed in at
tempting irrevocably to commit the Ad-
ministration to the gold standard, ana
criticised his hospitality to silver ana
international bimetallism. Speaking OF
the action on the Teller resolution, he
said that Secretary Gage had many
supporters in the Republican party. lie
said that at the head Of those who
voted for the Matthews resolution in
the House was VIM. Mckinley, now
President, and in the Senate, VIM. B.
Allison of Iowa. He thought it re-
markable that what was true and hon
est twenty years ago was true but dis
honest now.
Chandler said the Republican party
did not hesitate to reOrganiZe the Su-
preme Court in order to assert the
right of the United States to issue ir-
redeemable paper money. He reviewed
the various decisions of the Supreme
Court on this subject, and said that
national honor was not in danger by
free coinage of silver if it was not
endangered by the issue of paper.
A concurrent resolution, directing the
commission appointed to cOdify the
criminal laws of the United States to
prepare and submit to Congress Code
of Civil Procedure for the District of
inl, ho6 hna eli
amended by the House of Representa-
tives, was concurred in.
Hoar of Massachusetts made a reply
to a part of Chandler's remarks, mani
Testing much indignant feeling. He
said that whether the Secretary Of the
Treasury was in financial accord with
the Administration, with the President
personally, or with the Senate, did not
seem to him much to affect a bill pro-
viding the sinews for the existing war.
Referring to the other charge made
by Chandler that the Supreme Court
had been packed by President Grant
for the purpose of reversing the de-
cision against the constitutionality of
legal tender notes, Hoar declared that
it was IAN infamous and vile slander
upon an eminent citizen of MasSachu
setts" (Attorney General Hoar).
At the conclusion of HOar'S remarks,
Chandler Immediately disclaimed any
intention either to criticise or asperSe
President Grant or Attorney General
Hoar.
Stewart made an extended statement
concerning the Supreme Courts de-
cision upon the legal tender notes and
the income tax law.
Allen offered as a proviso to the
bond amendment of the minority of the
committee, the following:
provided, That except as in this
Act provided the Secretary of the
Treasury shall not have hereafter au-
thority to issue any bond or interest
bearing obligation, unless specifically
authorized to do so by Congress-
The pending question was upon the
amendment of German, levying a gross
receipt tax on corporations, but Cor
man withdrew the amendment tenn