Worcester morning daily spy., 1898-02-01

|
the pending resolution, like t1g Sing OF
a deadly snake, is in Its tai e I3 mat
sung well nigh harmless 20 wears ago,
| under conditions then exist * ia Inade
deadly by the changed con 1iors # to-
day.
The deadly tail of this re llF lei reads
as follows: That to resto 70 us COIN
age such silver coins as zHT in the
payment of said bonds (rneaniug prac-
tically all the bonds of the United States
now outstanding is not in violation of
the public faith, nor In derogation of the
rights Of the public creditor.
"rhe declarations Of the movers and
supporters Of these resolutions in the
| senate during its recent considera ton in
that body, throws flood light on what
is meant now by the phrase: To restore
| to its coinage such silver coins--a phrase
which in 1873 was interpreted by many
who supported similar resolution, to
mean something vitality different from
! which 1t must mean now.
! This brings me to the consideration
of the vital question, as to whether the
I government has the moral right in
other words, whether 1t 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
| Indebtedness in dollars of so materially
less value than the dollar which has
been the practical standard of value
since 1884, barring the war and recon
struction period, and which has been
the legal and practical 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.
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 three
fourths of the outstanding bonds were,
as matter of fact, issued and sold af-
ter 1878, when the silver dollar was
dropped from the list of coins. Now, in
view of these facts, would It be good
faith for congress- now that silver has
so greatly deprecated, to restore its
free and unlimited coinage at the ratio
of 16 to 1, by this country alone, when
the market ratio is 80 to /, and then
use su IN dollars to pay the bonds
which we had sold for gold under such
circumstances? I do not think it would.
l fear 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 it, on the un-
worthy idea that you are playing pol
itics'
IF so, I beg of you not to trifie with
the honor and good faith of the nation
for any such miserable end; for. rest as
sured, such an expression of opinion, as
to the sense of honor of the people Of
this country, contemplated by this reso-
luton under existing conditions would
seriously injure the credit of the coun-
4 4o na1- n n
6dence. 1t is because l believe as does
every scientific bimetallist in the world
outside of politics, that 16 to 1 free and
unlimited silver by this country alone
would make the United States a silver
monometallic country, like M s5ico and
China, and would give US silver basis,
that would obstruct our trade with gold
standard countries, that now take 80
per cent of our exports, and prove Sc
.ious menace to o{u progress. and be
cause I believe that it would seriously
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, ana
to preserve inviolably the public faith
and credit; and to gentlemen on the
other side of the house, to maintain the
standard of value which Jackson's ad-
ministration gave the country ga 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 reso-
tuition now before the house, to shaw to
the country and world, that the good
name of the nation is safe in our hands.
After the outburst Of applause which
greeted the close of MI Dingley's 8
Speech had subsided, Mr.. Bailey was
recognized for an hour. He first yield
ed 20 minutes to Mr. Wheeler dem,
Ala.) q member of the ways and means
committee, who submitted ar argument
in support of the resolution. Before
closing, Mr.. Wheeler yielded a minute
each to half a dozen members on the
democratic side, each of whom, as Mr..
Cowherd dem, MOI said, erected a
hook on which to hang a speech in the
Congressional Record
Mr. Dockery (dem., MOI declared that
the efforts of the president and secre-
tary of the treasury to more firmly es-
tablish the gold standard, would vacate
many seats on the republican side.
The appearance of Mr.. Bland. Of
Bland dollar fame, to whom Mr. Bailey
yielded ten minutes, was greeted with
applause. Mr.. Bland said that the
course Of the president and Secretary
Gage in pressing the gold standard
upon the country, had driven the BIZ
metaIlists in congress to introduce and
insist upon the passage of this resolu-
ton. Yet Mr.. Dingley charged the mi
nority with playing politics. Every re-
publican who voted against this reSolu-
ton violated the st. Louis platform and
voted against the coinage of silver in
any form, free or limited
Many others spoke briefly on the res
olution, pro and con. Mr.. Fitzgerald
dem, Mass.) advocated the adoption of
the resolution.
Mr.. Walker, chairman of the banking
and currency committee, opposed the
resolution, and asked if the members
ever stopped to calculate the CONNER
cial value of undoubted honor whether
among nations or individuals.
"a country" he said, must dis
charge its obligations in good faith,
whether the requirements Of good faith
were named in the bond or not" In
explaining his vote against the inser-
ton OF gold" in the bonds issued un-
der the last administration. he said he
was moved, as others had oeen, by the
argument that to vote to put gold in
the bond, would be an indirect admis-
sion that coin" bonds We're payable in
silver
Mr.. Rhea (dem., Ky) created some
thing of a sensation. In the course OF
his speech, while he was referring to
the crime OF 1873, he declared that If
there was any hole in Hades hotter than
any other it would be reserved especial
ly for John Sherman Many Kisses from
the republican side greeted this state
ment.
Two rousing speeches were made by
Messrs. Bailey dem, Texas and Hen
derson rep, Ia).
Mr.. Bailey owing to the great pres
sure fol time, had only four minutes in
FiNbn rnSO11ltiop iIrlar not, ciderafiap bA