The state herald., 1898-02-04
A VOTE OF Al TO 32.
TELLER RESOLUTION PASSED
The Senate by Strong Majority Expressed
Its Views on tho Currency Question
All Western Men Voted for Silvcr-Mr.
Wolcott's Speech.

All Wo3uern men NOteu Tor Slvcr-n1 r'
Wolcotts Speech.
Washington, Jan. 29.-After debate
animated at all times, and occasionally
acrimonious, which occupied the great
err part of the week, the Senate last
evening, by n decisive vote of Al to 80,
passed the Teller concurrent resolution.
The resolution is n practical renflirma-
tion of that of Stanley Matthews in
1873, and Is as follows:
That all the bonds of the United
States issued or authorized to be is
sued, under the said acts of Congress
hercinbefore recited, are payable prin-
clpal and interest, at the option of the
government of the United States, in
silver dollars of the coinage of the
United States containing 412h grains
of standard silver and that to restore
to its coinage such silver coins as n
legal tender in payment of said bonds,
principal and interest Is not in viola
ton of the public faith nor in deroga-
tion of the rights of the public cred
itor
All efforts TO amend the resolution
were voted by majorities ranging from
five TO Twenty-Five, Mr.. Lodges gold
standard substitute being defeated by
the latter majority. The vote on the
Lodge amendment was, ayes 2l, nays
So.
The events of the day leading up to
the final vote were full of interest and
Importance. 1t was field day for the
orators of the Senate, no less than
twenty-five senators embracing the Op-
portunity to speak upon the subject
under discussion. The public interest
in the debate was attestcd by the at
tendance in the galleries, which were
crowded throughout the day, and that
1t was important was evidenced by the
statement of several of the speakers
that the discussion was but the prelim-
mary alignment of the great political
parties for the contest of 1900.
From 10 O'Clock this morning until
this evening the contest was contn-
ued. When the voting began 1t was
evident that party lines were being
broken on both sides of the chamber.
hut 1t was on the substitute offered by
Mr.. Lodge of Massachusetts that the
most decided break occurred. On the
Republican side, Mr. Allison of Iowa
and Mr.. Burrows of Michigan did not
answer to their names on that roll call,
and many of the Republicans voted di-
rectly against 1t. Upon the final pas
sage of the resolution, some Repub-
licans who supported Mckinley and
the st. Louis platform, in 1896, like
Carter of Montana, Chandler of New
Hampshire. Clark of yoming, pritch-
ard of North Carolina, Shoup of Idaho.
Warren of Wyoming and Wolcott of
Colorado, voted for the resolution.
Mr.. Wolcott, In discussing the rcso-
luton, said:
THE discussion upon this question.
1t seems TO me, has gone far aiield of
the resolution. As II was introduced,
1t Is In words and phraseology identi-
cally the Matthews resolution. which
met. twenty years ago. the oycrwhelm-
ing approval of this body under condi-
tiOns which have not since materially
changed.
"rhe binding force Of that resolution
Is recognized to-day by almost every
senator on this side OF the chamber.
This resolution has nothing on earth
10 do with the question of the unlim-
tied coinage of silver. II lays down n
legal principle, defining the phraseol-
ogy OF our bonded Indebtedness. Be
yond that II does not 60
ANY senator who believes In silver
monometallism. or In bimetalllsm, or
In gold monometallism can vote for
this resolution with clear conscience,
because II cmbodics the exact state.
ment Of the terms OF the obligation of
the government.
There has not been any question as
to the character of the money which
has been paid, either upon the princi-
pal OF the small amount of bonds
which have become due. or upon the
Interest due from time to time upon
our bonds, nor nre the many other
questions which have been imported
Into this discussion involved In the
slightest degree respecting IT,
I'VE have had n most extraordinary
spectacle developed here. Senators
have risen In their places and. Invok.
Ing the pensioners OF the government
against this declaration OF n legal
right. have declared that the pension.
crs OF the government nrc the true
bondholdcrs and that because the Of
feet OF the passage OF n blmetalllc
measure might he to raise the price of
agricultural products, therefore those
mcnt for service upon the field of hat.
lie should Join hands with the gold
monomeiallists and make our bonds
specifically payable In gold. can
easily picture the consideration which
the pensioner would receive at The
hands OF the indianapolis convention.
and the warm mud sympathetic treat.
ment that would he extended TO him
by the great clearing house nssocla.
tions.
IN 1870 the standard Of money In
this country was ii2is grains OF silver.
No man doubts that. In 1870 when we
voted 10 issue the bonds there was n
provision In the net that the bonds
should he made payable IN coin of
standard value. The coin of standard
value was il2i. grains Of silver 1t
was eNchnngcnblc for 232o grains of
gold. because the mlnis were open To
both. but the standard was the silver
dollar. In 1871 ihc free coinage OF sIi.
YER was destroyed by law.
Lest that might bc construed In
change the legal effect OF the oblrn.
tlons OF the government after thnt hnd
Happened, In 1879, when We came 10
rnss the sprclcrcEumpilon law, N, n
time when the mlnis of the country
were closed 10 silver then both houses
OF Congress enacted Into legislation n
provision Tint bonds thereafter issued
should be- bonds of the Rnmc character
~ those issued under the net Of July
~, $50: nnd M n matter Of fnct, ey.
afx hand lggn.I .lu,., tgsp ...t.... "a.