Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-01-31

ceal or cloud Its real character and TO oo-
tain clear understanding Of its meaning.
This resolution Is not presented for the
purpose of securing an expression by Con-
gress as to the power of the government
either as TO the payment OF Its obligations
or as to what may be declared legal ten
der. 1t is throwing dust In the eyes Of our
own people and of the world to assume
that we are determining question OF
power even of technical legal right.
No one denies that this or any other ma
ton has the power to pay in FULL or In
part none of Its obligations, to pay In
gold OF silver or paper or copper, accord
ing to Its pleasure. Payment cannot be en-
forced against sovereign nation. Its OBJ
legations are measured by its own sense OF
honor and good faith.
But even If this sense of honor Is at any
time blunted as was Shylock's, by dwelling
on a narrow view of the letter rather than
the spirit of the obligation. the Intelligent
selfshness of nation which Is to live, not
simply for a generation, but for centuries,
ought to lead it-and whenever nation Ia
wisely governed does lead ito so scrupu-
lously maintain its pledges in both letter
and spirit az to preserve its credit I'M
furnished and thereby not only make 1t
possible to borrow at the lowest rate of in
terest. but also to make 1t easy to obtain
loans In exigencies which are sure sooner
ar later to come to every nation.
A Nations Honor and Credit.
"A nations honor and credit may say
to gentlemen on the other side who ap-
pIauded so jubilantly when the pending
resolution was brought into this hall-are
among it's most priceless possessions, aye,
its title deed to permanence and prosperity.
Gentlemen on the other side who so exult-
ingly applauded under the impression that
they were hitting the hated holder Of bonds
issued by the government to fund the debt
incurred in defending and saving the Union
in its years of adversely and peril, were
in fact hitting and discrediting the credit
pf " Il
zen. high or low. rich or poor, and whose
flag is the emblem of freedom and civiliza-
ton
Mr. Speaker, the sting and dishonor of
the pending resolution, like the sting of the
deadly snake, Is in its tall And that sting,
welnigh harmless twenty years ago, I'M
der conditions then existing. is made deadly
by the changed conditions of today. The
deadly tail of this resolution reads as fol-
lows: That to restore to its coinage such
silver coins as a legal tender in the pay
ment of said bonds (meaning practically all
the bonds of the United States now out,
standing) is not in violation Of the public
faith nor in derogation of the rights of the
public creditor The declarations Of the
movers and supporters of this resolution in
the Senate during its recent consideration
in that body throws a flood of light on
what is meant now by the phrase, to sre-
store to its coinage such silver coins'-a
phrase which, In 1878, was with goou rea-
son Interpreted by many who supported
similar resolution to mean something vital
ly different from what it must mean now.
The Moral Right.
This brings me-" proceeded Mr. Ding
ley, ito the consideration of the vital ques-
ton as to whether the government has the
moral right in other words, whether II
would be an act which the moral sense of
the world would regard as in accordance
with honor and good faith. for the United
States to pay its outstanding bonded in
r1..f.f IgIla
value than the dollar which has been the
practical standard of value since 1884,
barring the war and reconstruction period,
and which has been the legal and practi.
cal standard Of value since 1879, and the
dollar in which our bonded Indebtedness
has been paid thus far. paid by every ad-
ministration from Lincoln to Mckinley, to
wit. the dollar equal in value to 25.S grains
of standard gold (Applause)
Bear In mind that We are discussing this
question from the point of honor and good
faith and not from the point of power or
technical legal right; for 1 have already
said that the government can do as it
pleases. More than tlree-fourths of the
outstanding bonds were, as matter of
fact issued and sold after 1878, when the
silver dollar was dropped from the list CT
&C ms. Now, in view of these facts, would
1t be good faith for Congress, now that
silver has SO greatly deprecated, to -e-
store Its free and unlimited coinage at the
ratio or 10 to l. by this country alone
when the market ratio is 80 to /, and then
Use such dollars to pay the bonds which
We had sold under such circumstances? l
90 not think 1t would i hear that many of
you are resting on the expectation which
you have that nothing of this kind will be
done. and are excusing your vote for IL
on the unworthy iGea that you are playing
politics.
TrihinE With Honor.
IF so. beg of you not to trife with the
honor and good faith of the nation for any
a. mi 6r g.
an expression of opinion as to the sense of
honor OF the people of this country con-
templated by this resolution under exist
credit of the country and tend to weaken
reviving confidence.
1T IS because I believe as does every
scientific bimetallist in the world outside OF
politics. that 10 to l free and unlimited
silver by this country alone would make
the United States a silver monometaIIc
country like Mexico and China, and would
give us a silver basis that would obstruct
our trade with gold standard countries that
now take 30 per cent OF our exports and
prove seriCvs menace to our progress;
and because / believe that 1t would serious
ly injure our credit and standing as ma
ton that appeal TO 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 silver or
Paper. as good as gold and preserve in
gentlemen on the other side of the House
maintain the standard of value which Jack
sons administration. 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 op-
portunity offered by the resolution now be-
fore the House to show to the country and
world that the good name Of the nation
Is safe in our hands" prolonged republic
can applause.)
After the outburst of applause which
greeted the close of Mr. Dingiey's speech
had suhsided, Mr.. Bailey was recognized
for an hour. He first yielded twenty min
utes to MIR. Wheeler. a member of the ways
and means committee. who spoke in sup
port Of the resolution.
Before closing. Mr.. Wheeler yielded
minute each tc half a dozen members on
the democratic side, each of whom, Mr..
Cowherd tMo) said. erected a hook on
which to hang speech in the Congress
sional Record.
Mr.. Dockery (Mo) declared that the eff
forts of the President and Secretary CT the
Treasury to more firmly establish a gold
standard would vacate many seats on the
republican side.
Mr.. Bland Cheered.
The appearance of Mr.. Bland of Bland
dollar fame. TO whom Mr.. Bailey yielded
minutes WAS greeted with anpIouca