The times., 1898-02-01


He referred to the fact that the first
issue of bonds was payable in cur,
rency, and that the people of the coun,
try had paid for the keeping of the
word gold out of the bonds.
Gen. Grosvenor, of Ohio, made an ar
gument for the single gold standard.
referring to the act of 1873 and the re-
peal of the Sherman law, and declared
that the preservation of the country
depended on the payment of its bonds
in gold. Public faith demanded it.
During a portion of the debate Mr..
Lacey, of Iowa, occupied the Speaker 5
chair and he was presiding while Gen.
Grosvenor was speaking. Evidently he
was displeased with the line of argu-
ment being pursued, for the general
had spoken but five minutes, when Mr..
Lacey called him to order. saying his
ten minutes had expired. to which the
statistician from Ohio retorted:
Il do not believe it," Laughter)
Your time has expired shouted MIR.
Lacey.
Well" retorted Gen Grosvenor. al
ways ready with his figures. Il began
at ten minutes past ,, and it is now fif-
teen minutes past 2. That may be ten
minutes, but l don't believe it,"
The fiat contradiction of the chair
man had no effect on him. and Gen.
Grosvenor was compelled to take his
seat
Mr.. Mcguire. of California. did not
mnce. words when he got the floor. He
said:
The gentleman from Maine (AIr.
DinSley) said there was but two sides
to this question. Broadly stated, these
two sides are Justice and extortion.
Narrowly stated, ii is a question be-
tween, 10 debtors. he
tween the borrower and the lender, be-
tween the bondholders on one side and
the people on the other. II is the old
story of Shylock and Antonio, with
Shylock claiming more than was de-
nominated in the bond.
If this resolution does not pass il
will tend 10 rivet more strongly upon
this country the single gold standard.
1t Will submit this question Squarely
and plainly to the people, and to the
Fifty-siNth Congress, and the people
viii send men here who viii pass the
Stanley Matthews resolution.
1t viii give to the people a clear
understanding of the whole purposes
of the advocates of the single gold
standard. 1t Will make that issue plain
and clear. The question submitted 10
the people next fall, so far as the
money question is concerned VIII be
as to the payment of the bonded in
debtedneSs of the Government in gold,
as to the adoption of this resolution
and the free and unlimited coinage of
both gold and silver, without interna-
tional agreement prolonged Demo-
cratic applause)
why have the bonds and non-inter-
est-bearing Indebtedness Of the Gov
ernment been heretofore paid and re-
deemed in gold? Not because the law
required it, but in order to maintain
the parity between gold and. the other
money OF the Government.
The greenbacks, it is said. are pay
able in gold; the legal tenders. il is
said. are payable in gold. Three years
ago the proposition was made to retire
this currency in order to avoid bond is
sues, in order to avoid the gold drain
on the Treasury. The purpose of the
gold standard people now has made
that retirement unimportant; they are
going now to the logical conclusion of
their theory - every dollar of every
kind in the country other than gold
must be redeemed in gold. If not.
when gold is required by the bankers
and by those who have been calling
upon the Government for it, they must
get it from the Treasury. or they must
buy ii in the open market: if they can
not get it from the Treasury they viii
buy it in the open market at pre-
mium. and the parity will disappear.
and We Will go to "A silver basis. You
are driven and must answer on the
To redeem in gold all kinds
of money in the country. and To pay I
the bonds of the Government in gold. /
What you then propose TO do is to eS-
cape the drain on the Treasury by COM (
nitting the whole function OF issuing.
paper money to the national banks.
1,.I .aTE s-.al
debate has been commented upon. Ii /
IS ridiculously short: ahSurdly short. /
some pressing necessity has driven you
10 fight debate What Is it? Some 1
mighty interest IS at stake in the Re.
publican party They want an an
in the newspapers tomor-
'ow morning that the House of Repre-
;entatives has refused to agree with
he Senate to pay the obligations of
he United States in coin.
Il said that this was the story Of
ShyIock and Antonio over again. with /
shylock demanding more than is de-
nominated in the bond. The RepubS
ican party stands today committed to
he support OF the demands of the (
1t is rot amenable to rea-
on 1t is moved by mandate, and four
ours Of debate is long enough in which
o make that mandate clear. They
are not reason, and he who dare not
easun is slave.
Evolution has been going on in the
republican party fol twenty years. we
re told Transforming it from a BIZ
letallic party to A party of the gold
tandard The mission of the Repub-
can party under Lincoln and Grant
nd the other great leaders of that par
V. when it stood for principle and
ght. has been abandoned. and is now
erTing the interests of the bond
older
In the brief time allotted him. Mi.
orton. OF Ohio. said: Mr.. Chairman.
his resolution is nothing more than
eclaration of the law as il now stands.
nd by voting it down You give an
bsolute proof of your Willingness to
ssassinate the law. The people OF !
.is country have been compelled TO
bide by decisions OF courts that have
cen bribed: that have been elected
nd stultified by the principle of the
old standard. Every right of the
merican people has been disregarded !
nee the demonetizatiOn of silver.
In the Treasury of the United States
e now have man who despiseS the /
w as it now exists. This spirit sits !
lthroned in this House, denying the
and assassinating person. :
liberty. Argument is useless, we ,
light as well beg to the moon. :
THE soldier who took his life in his {
md from 1861 to 1865 and fought for +
is country is not even on an equal /
oting with these bondholders. There
Is not been a man of you patriotic t
ough to offer to him tke same rights t
at you offer to the bondholders. The {
spiration that comes to you comes
om the bond aristocrats of the coun- G
r. Your President stands today with /
5 arms folded and with a serene COM +