Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-29

violation of the public faith ana IN uero-
cation of the rights of the public cred
Mr.. White, of California. spoke IN sup
port of the resolution ant anaIyZed AT
some length the position OF the RepuDllcdn
party upon finance. He spoke OF the lack
OF defniteness of the presidents message
on the larger questions OF hnance. .,,,o,,.o5
Mr.. Fairbanks. Of Indiana, followed
against the resolution. He said the purpose
OF The resolution was not frankly expressed
Oh its face and it was only IN the course
OF the debate that it developed that the
essential purpose WAS to give an GNprtS-
sion of the United States senate favorable
TO the free and unlimited coinage of silver
at the ratio OF IG to l.
Mr. Wolcott, of Colorado, was the first
speaker under the tifteeu-minute rule,
which went into effect at O clock. lie
thought that any senator, whatever ms
financial views, could vote for the Teller
resolution. as it involved nothing except
the carrying into effect Of the government 5
plain obligation. lie thought that denun-
citation and abuse heaped upon those who
support the resolutions were unWarranted,
for he did not think the man was yet born
who would betray his government by offer
ing to pay its obligations i'll spurious
money. He referred with scathing sarcasm
10 the sale of bonds by the Cleveland ad-
rninlstration in 1884, denouncinS il as one
of the darkest pages in American financial
history. He declared that the men OF the
West might be entrusted with the national
honor. We have" he said, never betray-
ed our government and never will. We
money and in nothing else
Mr. Morgan. of Alabama. supported the
resolution in i more fully prepared speech,
basinG his support upon statistics and de-
ductionS Indicating THE impossihility of
striking. silver from among the money
metals
Mr.. Foraker. of Ohio. thought the resolu-
tion'S meaning ought TO be made clear. ii
being evident there was great diversity
of opinion on that point. He did not think
the resolution was any more than declara-
tory of the law. and that WAS as far as the
declaration went
He thought the statement in the resolu-
tion that such coinage as contemplated by
ii WAS not in derogation of the right of
creditors could only mean the free and
unlimited coinage of silver. He was. there
fore. opposed TO the resolution
Mr.. Chiffon. of Texas, in Il legal argu-
ment, advocated the restoration of the
standard silver dollar to coinage and their
use in the payment of the government $
obligations. He held that the pretension
of the bOndhoderS that they We're entitled
TO be paid in better money than the pen
sioner. the mechanic and the laborer was
not warranted by facts or by law.
Mr.. Nelson. of Minnesota, stated that his
objection. 10 the resolution was that il ig-
nored the duty OF the government 10 main
tam the parity between the metals as I'M
posed upon it by law.
Mr.. Alison spoke of the circumstances
attending the passage of the Stanley Mat
thewS resolution in 1873. To him il had not
meant at that time declaration in favor
of the free and unlimited coinage of silver.
Other coinage measures were pending at
tiitL tfIlc- ana Wlen one OF tneSe came
over from the house the senator from Col
orado (Teiler) voted TO strike out the pro-
vision for the free coinage of silver and
voted for limited coinage agreement. Mr..
Allison declared that when he was being
gibbeted on this crossroads of public opn-
ion for alleged inconsistency, he wanted
II known that the Colorado senator and
lhe ONO senator who introduced the reso-
luton of lSlS, Senator Matthews. had voted
TO strike out a free coinage provision
MIR. Gray, of Delaware, urged that the
Resolution could accomplish nothing and
was hollow expression so far as affecting
inc character of money in which our bonds
were TO be met.
MIR. Allen. of Nebraska insisted that the
Tree coinage of silver would restore the
parity between gold and silver.
Mr.. Bacon of Georgia took issue with
the statements and conclusions of the SEN
etor from Ohio CForaker) and the senator
from Iowa tAllisoD, discussing the pres
ent conditions as contrasted with thos,A of
1873, when the resolution was originate
passed. He held that the resolution an
pleS distinctly 10 the silver-five hundred
milIlon-aiready coined, and TO that which
shaH be coined in the future The gov
ernment for the past six years had yio-
lated the statutes and the Stanley Mat
thews resolution
,ean Mr IbhI,nrston Of Nebraska said that the
Ieith IN Its contracts, and there is no need
now 10 restate the terms of those con-
Eote was concerned. follow his party in lis
declaration to maintain the parity of ali
TIE dollars of the government.
MT Illiman, of South Carolina thoupI1t
this discussion was simply the maneIyerinsr
OF the great political parties for position in
Iae IaS grsat grh contest that was to be fought in
contest as they had won in every fight
'hSy had eyer eyer made for freedom.
the last original Stanley Matthews act had
no force as il was a mere campaign threat
and did not have about it enough of chemi-
cal qualities to make a stencil. The Ameri-
can people would never consent to the nav
n,ient men OF their debts in anything but the
Uncle SAM" he concluded, sis ALWAYS q
gentleman"
:. Mr., GalIinger. of New Hampshire. he
neVed in the payment of the nations debts
IN ihe best of money of fixed national as
well as international value. ANY other ac-
non upon the part of the government would
be n national disgrace.
Mr.. Elkins. of West Virginia thought
that as a legal proposition the resolution
could not be successfully assailed, but he
could see no reason for its passage now
He said there We're times when the bond-
holders could be treated with Indifference
but he asked Mr.. Teller whether if war
were declared tomorrow, he would intro
duce such n resolution as this
Mr.. Warren, of Wyoming. announced his
purpose to vote for the resolution. He
gave this vote for the resolution as it stood
and not for any Interior purposes the res
olution might have.
Mr.. Cullom, of Illinois. announced briefly
because IL was a step toward free silver
He also presented statistics showing an in
cEeasa- Of ula1ry IN circulation in the last
Eighteen months of S2ii 900 900 which the
senator said. WAS sufficient answer TO the
statements that recent conditions had fa-
Nored the bondholders and oppressed the
people. He said his tables showed that
farmers products. particularly wheat, had
gone up of late months and articles used
by farmers had gone down.
Mr.. Butler. of North Carolina. advocated
the resolution. saving that instead of de-
ftroying the parity of the metals. il was
intended to sustain that parity. by keeping
both metals. like both arms. in equal use
Mr.. Rawlins. of Utah. said the question
auce with the legal obligation i'm the so
called best money" of far greater value
than the money with which the bonds Were
bought. This best money, he said. while
best for the bondholders. meant. at The
same time. Il double burden for the peoplc
who must pay the bonds.
Mr.. Aldrich, Republican. of Rhode Island
said il had not needed the declaration Of
Mr.. Vest TO disclose this issue WIS the
opening of the campaign Of 1898.
We intend TO meet this issue squarely."
to the great PARTY we represent. and be-
yond that. IN the American people and we
propose so far rs We may TO maintain the
honor and the credit of the government
Voting on Amendment Begins.
Mr.. Aldrich closed just as the clock
marked six the hour set for voting, and
the vice president promptly announced that
the voting would proceed. At this time the
galleries were nlled TO overfiowinE and n
large number of members of the house, In
Guiding Speaker Reed, occupied the area
back nf the senators.
The Nelson amendment was first present.
ed. declaring that it is the duty Of the
government Of the United States under ex-
listing laws 10 maintain the parity in value