The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-12-12
DEE FINANCE BILE.

M. ovsrstrssvs Mastery Presents
ton Of the Aims and obiects Of
the Adoption Of the Gold Standard
and the Good Which wll Come to
the Country Through the Passage
Of the BILL.
WASHINGTON. Dec. 1A-There was
only u fair attendance IN the galleries
Of the house to Witness the opening Of
the debate on the currency bill. Inn
medIately after the reading Of the Jour.
mai the house, under the special order,
went into committee OF the whole. Mr..
Hepburn, OF Iowa, in the chair, and en-
tered upon the consideration Of the bill.
Mr.. overstreet undlana), who is to be
in charge Of the measure on the floor.
opened the general debate
Representative overstreet, In open
ing. said:
0Mr, Speaker-This country presents
the anomalous situation Of being the
absolute and uuchallenged leader In
most every field Of advanced thought,
whether IN science or literature; GER
taInIy the most advanced in material
| DEVELOPMENT, and the control OF trade;
by far the manufactures and growth Of
the markets; and yet II Is the HELD OF
greatest controversy upon the subject
Of standard OF value and the proper
media OF exchange.
EMO nation has devoted more time to
public discussion and legislative cons
slderatiOn Of the question OF finance
| than the United States. Notwithstand-
| ing there have been occasions when
serious doubt clouded the situation and
| produced grave fears lest the entire
| fabric OF our monetary system might
be seriously shaken, set IT - TO the
great credit OF the government that
every dollar OF our money in circulation
is absolutely sound and unQuestlonable.
| This condition has led many people Into
| the erroneous belief that there was no
need for legislation and that the pest
the government could do would be 70
let the subject alone. Such people are
not familiar with the frequent pledges
az the government to maintain the par
| ity of our money, declaring by Con.
| Eressionat acts the honest purpose OF
Inc government to faithfully and surely
guarantee the full parity Of all money
in circulation.
After describing the various kinds OF
money in use in the United States MT.
OVerHtreet said:
"The history OF government ehorts TO
force legal tender money into circula-
ton, Irrespective Of It's intrinsic value
and without the government pledge Is
q record OF failures, without a single eN-
ception. All the various kinds OF money
IN this country ls gold, and has been
so recognized In practice for more thah
half century"
He then proceeded with an elaborate
argument ngnInst double standard
and general review OF our monetary
legislation.
"If the legal standard to-day Is the
roId standard, under the act Of 1873,
n positive statute to that eject can
do no harm. u, on the other hand,
there IL any reasonable doubt, IT should
be dispelled by a statute clear In It's
terms. when certainty shall take the
place OF doubt and the integrity Of our
credit be as fixed as the honor Of the
nation. The national debt can be read
liz refunded Mt lower interest rates and
future loans negotiated with ease upon
better terms than ever before. the
rapld development OF American trade
and its vast expansion, bringing out
neopte into close relations With the
leading nations OF the world, makes 1t
Imperative that the standard OF value
in which settlements are made snail pc
the best known to tho highest ciVillEa-
ton. and shall safely appeal to iniell-
gent and succesRfut experience, ice,
cent events, shaped by cGuses beyond
orr control. bearing obligations which
national honor requires shall be cour-
aEeously discharged, open now fields for
American craftsmanship. Channels oil
trnde vet unknown to American enter
nrisp. and avenues OF commerce vet to
welcome American products, viii sure
~ result Such conditions emphasize
the necessity for a standard OF value
which shall remain Arm thrOughout the
vlclssltudes OF competitive trade"
In conclusion Mr. overstreet said;
.'The advocates OF currency reform
firmly declare that the financial opera
lions OF the government are upon the
SoId standard, but that the honest fears
enRendered by doubtful legislation rel
ntive TO silver coinage. and the present
nttnclt upon the standard Of value fully
Justify the legislation asked. To firmly
AZ gold as the standard OF value, the
uffeeiulvSe1i terms, made fully opera
tive by MI proper safeguards, ~ the
central Idea OF the law proposed. 1t Is
confidently believed that the country
demands II, and that our actions VIII
be ratified by the people, IHe huppuTt.
ers of the proposition are not conhned
to the Republican. nor TO the so-called
money centerR, Democrats of courage
md conviction have nobly dared TO
break from party lines and suffer un.
fllnchlngiy the sting Of the party whip.
in honest and patriotic efforts ia uphold
the integrity OF the national credit aud
make secure the foundation nf the FAST
md expanding business Of our people.
THE American yeOmanary OF the great
agricultural fieldB Of the country, are
fully awake to the Importance OF the
subject, and appreciate the wisdom OF
the legislation. Nearly all OF those who
wnvered IN 1896 corrected their error IN
1898.
while the question ID economic and
sbouid be separated from partisan de-
bate, yet tho Republican party VIII not
attempt to escape from responsibility
for the legislation, believing that II Is