Evening star., 1898-06-01
CHANDLER ON SILVER
Has Anti Gold Standard Amendment
to the Revenue Bill.
FOR COINAGE OF THE SEIGN4ORAGE
Patriotic Speeches in the House of
Representatives.
THE DAY IN CONGRES

A bill for the protection of homestead
settlers who enter the military or naval
service of the United States in time OF war
was passed by the Senate at the opening
of today's session. The bill provides that
the service in the war with Spain shall be
considered as residence and work upon the
land, and that by enlistment the claim
shall not be forfeited. --..-
When the war revenue bill was taken up
the absence of a quorum was suggested,
and fifteen minutes were consumed in as
sembling the requisite number of senators.
Mr.. Chandler IN. HI, assuming he said,
that the majority of the finance committee
would insist upon it's proposition to coin
the silver seigniorage, and that the repub-
lican minority would press its bond propo-
sition, thought it proper to offer some re-
marks upon an amendment which he had
offered to the pending bill. The amend
ment follows:
MIR. Chandler's Silver Amendment.
And 1t is hereby declared to be the pol
icy of the United States not to commit
the country more thoroughly to the gold
standard, but that the efforts Of the gov
ernment in all it's branches shall be steadily
directed to secure and maintain the use Of
silver as well as gold as standard money
tenn of bimetallism which will insure the
parity in value of the coins of the two
metals. furnish sufficient volume of me-
tallic money and give immunity to the
world OF trade from violent fluctuations in
exchange"
Referring to the general features Of the
bill, Mr.. Chandler declared that the op-
ponents of the existing war should not be
allowed to make it unpopular by the inflic-
ton upon the people of onerous and ILL
advised taxation. He urged that it were
better to await the developments of the war
before making extensive provision for it. A
few months hence he Thought, it would be
far easier than it now is ito determine what
amount OF taxation should be levied.
MIR. Chandler announced his opposition to
the issue of legal tender notes. The war. he
said, could be fought to a triumphant close
without endangering the parity Of gold and
our existing paper money. In his opinion,
however. the proposed coinage of the silver
seigniorage was an entirely different thing.
He saw advantages that would accrue to
the country from the conversion Of the
sefgniorage Into money and not the least
danger. He felt. therefore, that 1t would
be wise and healthy to coin the seigniorage.
He also favored an issue of ten-year 3 per
cent bonds as the cheapest way Of raising
needed funds for the prosecution of the
war.
Mr.. Chandler then began a discussion of
the financial question, in which he opposed
the gold standard and advocated bimetal-
lism.
Secretary Gage Criticized.
In the course of discussion Of the admin
istration's effort to secure international bI-
metallism, Mr.. Chandler criticised Secre-
tary Gage sharply for the position he had
assumed in attempting irrevocably to COM
NIT the administration to the gold standard
Following reference to the work of the BIZ
metallic commission in Europe he intro
duced in his speech a letter which ne wrote
to the President last September, IN which
he prophesied the failure of the commits
s!on's efforts.
ITO this letter." said Mr.. Chandler. at the
conclusion of the reading II received no
reply
Mr.. Chandler then referred to the mes
sage of the President transmitting the ac-
ton of the Indianapolis monetary commits
sion, and said the House hastened to take
action in favor of the gold standard He
continued to discuss the action of Secretary
Gage and criticised his hostility to silver
and international bimetallism. Speaking of
the action OF the Taller resolution, which
reafflrmed the Stanley Matthews silver reso-
luton. he said that Secretary Gage had
many supporters in the republican party.
He said that at the head of those who
voted for the Matthews resolution in the