The Portland daily press., 1899-12-12

Of the bonds Deposited for their security,
d nsithsr new nor PARTISAN. n has been
recommended By four presidents and i've
secretaries Of the treasury, and biIls con-
tanning such provisien have bsun intro
duced In Congress and supported by
members Of both political parties. 10 b
entirely consistent with the present. bank
ing systsrn-"
In conclusion, Mr.. Ovsrsfrsst said,
"Ths advocates Of currency reform
firmly declare that the financial operations
of the government are upon the gold
standard, but that the honest fears en-
gendered by doubtful legislation, relative
to silver coinage, and the persistent at
tack upon the standard Of value, fully
justify the legislation asked. To firmly
nx gold as the standard OF value. the un-
equivocal terms made fully operative ~
all proper safeguards, 10 the central fdsa
Of the law proposed. It Is believed that
the country demands 10 and that our ac-
tion will be ratified By the people,"
| Mr.. Shaiforth, Silver. Colorado, inter-
vuptsd to ask II the bill would not result
| In contracting the currency to the extent
Of e4Sn, COO. 900 In silver impounded.
"It would not" replied Mr.. Ovsrstreet,
''beoauss for every silver dollar which
goes into the treasury gold dollar will
20 ont into oirculntion." (Republican
| aprlause.")
Mr.. Maddox, Democrat Of Georgia, was
the first speaker In opposition 10 the bill.
He said that II he had analysed the bill
correctly no measure had been presented
to Congress In half . century fraught
with SO much Importance to the country.
| He referred to
FORMER SPEAKER REED'S
New York speech in which he advised this
Immediate enactment Of the gold stand
ard legislation before some branch of the
government got away from the Republic
can party. "The faithful" said he, Gun.
derstand that this legislation must be en-
acted at once or Tot at ALL
| MIR. Maddox then proceeded with de-
tailed analysis of ths bill. The enactms mt
OF gold standard legislation, he declared
had never been an Issue before the people.
II gold was now the existing standard az
commended, 1t was SO by the unlawful
usurpation of the executive offices Of this
government. Facility Tor rsiding the
treasury under the bill, he said, had
never been hitherto equslled.
He took up the Republican platform
of 1896 to show that every Republican
who now advocated the gold standard
WINS an apostate. He had read at the
clerks desk the speeches of some Of the
Republican leaders In 1877 declaring that
the Republicans were declaring for inter-
national bimstallism.
The speeches which were in support OF
the bill for the creation Of the commits
sion which went abroad In the interest OF
international bi-mstallism were made by
Messrs. Hepburn of Iowa. Dingley OF
Maine, and Grosvenor Of Ohio. Mr.. Mad
dox summed up by declaring the measure
to be bill designed to lsgulizs the au-
thority usurped BY the Secretary Of tine
treasury to put the country on q gold
basis, to demonstize one-half the final
/ money Of redemption to alter tina obliga-
tons Of the people without their consent
into gold obligations, to content tho cur
rsnsy ut the will OF the banks and 20
| create .
GIGANTIC BANK TRUST
for the benedt Of . few thousand people.
| Mr.. Deliver OF Iowa, spoke next. lie
poked some fun at the Democratic lead
ers for asking an additional period for in
cubating speeches on the gold and silver
question. There was time, he said,
when he had figures and authorities on
the financial question at his finger tips.
| Now he was called upon to speak with
most If his figures at home and his au'
thorities out Of reach. Stlll he recognized
the fact that at this state Of the controver.
sy to held to ones figures meant to lose
ones audience. daughter and applause.
Proceeding, Mr.. Dolliver read from the
speech Of Governor Altpsld to the effect
that tbs Republican Congress would obey
orders and enact gold standard legisla'
ton. For him self, he said. be was proud
to say that he was oosying ordsrs-the
orders of the people Of his district-tryina
to put the laws OF the country into har-
mony with their opinions. The pending
bill was a compromise representing the
united wisdom Of all.
"Thsre Is something about the pursuit
of the sciences of money" said he, "thai
enables every one Of its students to COM
prehend his own ideas without beilg very
hospitable toward the ideas Of others"
This was n bill to get at rest all doubt
as to the standard in this country. 1t
should be presented to the business meH
of the country as a..Christmas present. Mr..
Doniver said he did not want his record
of past follies to be brought mp against
him. He had voted for the Sherman act
In 1890, an act which he now regarded a
a piece Of unutterabls stupidity.
7 In 1875 when the act came to te re-
peaied, Mr.. Dolliver said he was vsrJ
much perplexed. He saw Senator Sher
man one evening sitting oustids bill
house. 'Don't trouble yourself about TIN
fat1rxa ~ waur y,radfsfiana rauu rdi nu afI