Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-02-01

er- NO one denies that this or any other
nation has the power TO pay in gold or
silver. or paper or copper, according TO its
pleasure. Payment cannot be enforced
against 4 sovereign nation. Its obligations
are measured by its own sense of honor
and good faith. The intelligent selfishness
OF nation which is to Eve, not simply for
a generation, but for centuries, ought to
lead it-aud whenever n nation is wisely
governed does lead it-so scrupulously TO
maintain fits pledges. in both letter and
spirit as to preserve its credit unfair
nished and thereby not only make t pos
sible 10 borrow at the lowest rate OF in
tercst, but also TO make it easy to obtain
loans in cXigcncies which are sure sooner
or later to come TO every nation. \ ma
TONS honor and credit are its title deed
to permanence and prosperity.
Reputation. Pure md Simple.
The sting and dfshonor of the pending
resolution is in its tail. And that sting.
well nigh harmless twenty years ago, under
conditions then existing, is made deadly by
the changed conditions Of to-day. The
deadly tail Of this resolution reads as fol-
lows:
That to restore TO its coinage such silver
coins as q legal tender in the payment Of
said bonds meaning practically all the
bonds OF the United States now outstand-
:rgD IS not in violation of the public faith
nor in derogation of the rights of the public
creditor
THE declarations of the movers and sup
porters Of this resolution in the senate dur
ing its recent consideration in that body
throw 4 food of light on what is meant
now by the phrase TO restore to its coinage
such silver coins'-a phrase which, in 1873,
was with good reason interpreted by many
win a % a similar resolution
something vitality different from what il
must mean now.
This brings me-" proceeded Mr.. D.nsley,
Ito the consideration of the vital question
as 10 whether the government has the
moral right: in other words. whether i
would be an act which the moral sense OF
the world would regard as in accordance
with honor and good faith. for ;he United
States TO pay its outstanding bonded in
debtedness in dollars of so materially less
value than the dollar which has been the
practical standard of value since 1894. bar
ring the war and reconstruction period,
and which has been the legal and practical
standard of value since 1873. and the dollar
in which our bonded Indebtedness has been
paid thus far, paid by every administration
from Lincoln TO Mckinley, towit: The dol
lar equal in value TO 25.S grains of standard
gold. CApplause.) Bear in mind that
are discussing this question from the point
of honor and good faith, and not from the
point of power or technical legal rights; for
/ have already said that the government
can do as i: pleases.
Violation of Good Faith.
More than three-fourths of the out
standing bonds were, as 4 matter of fact,
issued and sold after 1873, when the silver
dollar was dropped from the list of coins.
NnW in lriaTV of fbaGa I,o,ll lNa
good faith for congress. now that silver
has been so greatly deprecated, to restore
fits free and unlimited coinage at the ratio
of Is TO !, by this country alone, when the
market ratio is SO to /, and then use such
dollars to pay the bonds which We had sold
for gold under such circumstances? / do
not think it would.
II fear that many OF you are resting on
the expectation which you have that moth
ing of this kind will be done. and are eN-
cuslng your vote for it on the unworthy
idea that you are playing politics.
IF so, | beg Of you not 10 trif1e with the
honor and good faith of the nation for any
such miserable end: for. rest assured. such
an expression of opinion as to the sense of
honor Of the people of this country, con-
templated by the resolution. under existing
conditions, would seriously injure the cred
ii of the country and tend 10 weaken re-
viving confidence.
1T is. / believe (as does every scientific
bimetallst in the world outside of politics.,
that 16 20 free and unlimited silver by this
country would make the United States a
silver monometallic country, like Mexico
and China, and would give us silver ba-
sis that would obstruct our trade with
gold standard countries that now take 90
per cent of our exports. and prove a ser
ious menace 10 our progress; and it is be-
cause believe that it would seriously in
3ure our credit and standing as a nation
that / appeal 10 the gentlemen on this
side of the house to maintain the pledge
which the Republican party made at ST.
Louis TO keep all our currency, whether sill
Yer or paper, as good AS gold. and preserve
the public faith and credit; and to the gen.
uemen on the other side to maintain the
standard of value which Jacksons admins
tration gave the country siXty-four years
ago. and the honor and good faith of the
nation so carefully preserved by the fathers
of the Democratic party, and to take the
opportunity offered by the resolution now
before the house to show the country and
the world that the good name of the ma
tion is safe in our hands" prolonged Re
publican applause)
,tBaiicy Yields Most of His Time.
Afeter the outburst of applause which
rcet,eed the close OF Mr.. Dingley's speech
ad suI rsided, Mr.. Bailey WAS recognized for
n hour He first yielded twenty minutes
o Mr. W tleeler. Democrat. of Alabama a
member oil the ways and means committee
Who submit ted an argument in support of
he rcsolutio' Us. Before closing. Mr. Wheel
n yielded a minute each to half a dozen
members on t:he Democratic side, each of
whom, rs Mr.. ~Cowherd. Democrat. of Mis-
souri,, said ertt tted hook on which to
lanS speech I'm the Congressional Rec
,rd.
Mr.. Dockery' democrat. OF Missouri, de-
Jared that the Ell korts of the present Sec
'etary OF the e'isury more firmly TO cs-
ahiiSh the Soiu standard would yacate
many seats on thel Republican side
The appearance jof Mr.. Bland, OF Bland
dollar fame 10 thom Mr.. Bailey yielded
ten minutes Was} greeted with applause.
The course oil ing president and Secretary
Gage, Mr.. Bland fsaid. In pressing the gold
upon lie country. had driven tho
bimctallists in congress to introduce and
insist upon the passage OF this resolution.
Yet, he said. MIR. Dngley charged the mi
nority with playing politics. Every Repub-
lIcan who Voted against the resolution yio-
lated th St Louis platform and voted
against the coinage of silver in any form
free or limited. No one disputed the. law.
lie said. No one denies it. Silver was a
!Hll legal tender. But every Republican
note against the resolution would declare
that silver was not fit 10 pay the public
debt with. Silver would then, in truth,
become subsidiary coin.
Hand Creates Applause.
Mr. Bland created great applause on the
Democratic side by reading from the Rec