The times., 1899-12-14

There were eight and a half hours OF talk
on the financial bill in the House yesterday.
including the night session. The prime pal
features Of the session were the iEroduc-
lion Of REPRESENTATIVE Cushman OF Wash
ington as a humorous speaker, and an elab-
orate review Of the pending bin by Repse-
sentative HuI OF Connecticut
During the day the bill was opposed N
speeches by Representatives Bell of Coz
oraEo. Brundidge Of Arkansas. Wheeler OF
Kentucky. Benton Of Missouri Fox of Mis-
sissippi. Pierce Of Tennessee. sulzer Of New
York Otey Of Virginia, Cowherd cf Mis-
sour. and Gaines OF Tennessee. and advo-
Gated by Representatives Fowler OF New
Jersey. Lacey Of Iowa. Burton Of Ohio,
Hamilton OF Michigan, Cushmsn Of Wash
srgton. and Hill of Connecticut
A resolution was agreed to 6Xing the
period Of The holiday recess from Decem-
ber % to January 81
on objection Of Mr.. Payne OF New York
consideration was refused Of a proposition
so adjourn over today in honor of the cen
tenuiaI anniversary Of the death Of Wash
ington.
The first speaker, Representative John
c. Bell OF Colorado. appeared in opposition
10 The measure. He declared that persons
who read well the history Of ihe American
PepubIie would never forgive nor forge,
she wrong done by the so-callcd Mint act cf
1873. The money that was good for The
Government was not good enough for the
bankers brokers' money changers, and
bondhoIdsrs. and the money that was best
liked by these classes was not that which
was best for the people. Nj Bell cTitl-
cised the disinterestedness Of the Secre-
7arv OF the Treasury. whose personal and
sentimental interests lay with the classes,
and not with the masses. Il was never IN
1ended by the founders of the American
Government that bank officer should be
placed at the head Of the national finances.
The law specifically forbade the Compttol-
Ter Of the Currency or his deputy 10 be con-
nected directly or indirectly with nation
81 bank Mr.. Bell discussed the pnilosopng
Of money from the standpoint Of b-metal-
list
Mr.. Rrundfdge in Opposition.
Representative 5. Brundidge Of Arkan-
sas was the second speaker. He vigorous
II oppos-d The bill. and said that IL the
country were not in debt the bill would not
have been proposed. II was the purpose OF
the men DO held mortgage on the Gov
eminent TO demand that they be PAID 10
drsrer money than they paid out. The bill
denied 10 the people the right 10 pay thelr
debts in The same kind Of money unoeT
which their obligations had been con-
tracted.
Representajive Charles X Wheeler OF
Kentucky spoke in opposition 10 the bill
IN the preparation Of the measure the peo-
PIE had not been consulted. II was
bankers bill
Representative Fowler Of New Jersey
who was a member OF the Committee On
Banking and Currency in the Foriy-hftf
Congress. spoke appr0viugly Of the Dill.
RenreseutErive Lacey OF Iowa followed II
support Of The measure. He dwelt al
length on the prosperity, which ne attrlb-
Ned 10 The Republican administration oi
public affairs
Mr. Hamilton Favors the Bill.
Dir. Hamilton Of Michigan supported tbe
BIZ in an extended speech: The argument
on this bin is largely an argument after
The fact" he said. The people OF tbs
United states on the day Of the last na-
tionaI election entered into their election
both sides and reviewing the evidence and
returned The Republican party 70 power
By that verdict they pronounced agalns
7he clipping Of coin by legislative enact
Inentaud in favor Of a dollar true 10 name
and tTue 10 the value stamped upon il, ant
that viii not shrink on exposure TO sal
water in crossing the ocean. This bill sim
ply enters judgment on the verdict Of tn
people"
Reviewing the history and effect Of fnan
cial legislation Mr. Hamilton said tn
Gresham law obtained today as efectiyel,
as ever and that under free coinage OF sil
yer. as Weil as under the operations of tn
Bland Allison and sherman laws there ha
never been bimetallism for a day. Hi
creed was thus expressed
ANY uncertainty as TO standard tends 4
contract the circulation Of money. an'
money driven 10 cover by panic and hiddel
away In fear builds up no enterprises ant
furnishes no employment 10 labor He wh'
establishes order and confidence multiple
money in circulation. He who fOments dis
orders produces famine in money. Henc
81 VIII be remembered that in the periO
from 1888 10 1897 banks were unEuccess
fully Offering { and > per cent on deposit
10 lure money out Of hiding. while unde
tGis Administration banks are burdene
With deposits without interests.
'-One man takes anothsr mans note be
cause ne ne4L-kE- lL ULS honesty ana aBll
sly 20 pay The people take a nation
bonds and notes because they believe 4
she nation honesty and ability TO pay an
redeem hem Honesty makes confidence
confidence makes business, and bushes
makes Prosperity
Discussing coinage Mr. Hamilton sal
that free coinage added no value 10 slye
lie sought 90 illustrate this by transaction
s. eggs ard wheat, and added: Under frC
and unlimited coinage the Government bus
10 eggs u simply certiies that there al
twelve in a dozen. II buys no wheat
simply certiGes that there are sixty pOunt
in a bushel
Il buys TO bullion, Il simply says
fhe owners 0f the bullion: Bring your bu
lion. uuemen and we viii stamp il int
coin for you free OF charge. and viii ceTtli
that esch dollar contains 4l2 l-2 grains
standard silver. but We do not guarantee j
value and are under no obligations
maintain i;s value.
The good uses OF the bin included Il
maiutcnsEca Of the parity Of the value
ali currency issued by the United state
aud she destruction OF the endless chal
depletion Of the gold reserve.
Mr.. Cushmanrs Maiden Speech.
The next speech introduced new orat,
10 the Hogse-Ms Cushmau Of WashiugtC
ills personal resemblance % The late Pres
dent Lincoln has been generally note
Ills speech Was not closely confined TO n
provisions of tbe bin. but it Afforded mu,
more sgrislac'ion 10 his auditors han mo
OF the efforts that had preceded it,
said .Fss 81 r-0rlF r~- ha aCo,DaTlea