The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-12-12
DeArmond Replies in a Power
fuI Speech.
WARNS WESTERN REPUBLICANS
Said They Gould Not Deceive Their
Constituents in Coming Elections
by Claiming They Yielded
to Wise Colleagues

Washington, December 1.-THE feature
of the opening day of the debate on the
currency bill in the house was the speech
of Mr.. Dolliver, of Iowa. 1t was character
ized by all the wit and eloquence for which
the Iowan Is noted.
Mr.. Dolliver declared that the last doubt
in the republican party as to the wisdom of
enacting the gold standard into law had
been resolved by the experience of the bus
iness world during the past three years.
He scored Mr. Bryan and generally ridi-
culed the alleged false prophecies of the
democrats in 1896.
Mr.. DeArmond, of Missouri. was the
heavy gun on the democratic side. He
warned the republicans from the west that
Ahey could not deceive their constituents In
the coming congressional elections by
claiming that they had yielded to the wis
dom of their colleagues in caucus.
Mr.. Overstreet, of Indiana, opened the de-
bate in support of the bill and Mr. Maddox,
of Georgia, replied to him. Mr. Mcclellan,
of New York. the only speaker today. op-
posed the bill.
In the course of his speech Mr.. Overstreet
was interrupted and asked If the bill would
not result in contracting the currency to
the extent of $3.50 coo 900 In silver impounded.
"It would not" replied ne, because for
every silver dollar which goes into the
treasury a gold dollar will go out into cir
culation" Republican applauseo
M..diox of Georgia Speaks
Mr. Maddox (democraD, of Georgia, was
the first speaker in opposition to the bill.
Referring to former Speaker Reeds New
York speech advising the immediate enact
ment of gold standard legislation before
some branch of the government got away
from the republican party, he said:
"The faithful understand that this legis-
lation must be enacted at once or not at
all.''
The enactment of gold standard 1egisla-
tion, he declared, had never been an issue
before the people. If gold was now "the ex-
listing Standard as contended sit was so
by the unlawful usurpation of the executive
office of the government"
The treasury, under the bill, he predicted,
would be relieved. The bill would convert
every obligation of the treasury into gold
obligation and would compel the govern
ment to sell millions of gold to the amount
of % per cent of all the outstanding notes OF
whatever character. He argued that under
the bill banks with $4,000 900 capital now re-
uuired to deposit bonds equal to third OF
their capital in the treasury, were required
to deposit only $50,000 in bonds, enabling
them to contract or expand the currency at
will He then assailed the republican advo-
Gates of the gold standard for apostacy and
particularly attacked Messrs. Hepburn of
Iowa. Dingley, of Maine, and Grosvenor, of
Ohio, who he said advocated silver coinage
by international agreement In 1897.
Mr.. Maddox summed up his argument by
declaring the measure to be a bill designed
to legalize the authority usurped by the
secretary of the treasury to put the coun-
try on a gold basis to demonetfze one-half
the final money of redemption, to alter the
obligations of the people without their con-
sent into gold obligations. to contract the
currency at the will of the banks and to
create a gigantic bank trust for the bene-
ft of few thousand people.
Dollivcr Termed a Christmas Gift
Mr. Dolliver, of Iowa, the next speaker,
said this was bill to set at rest adj doubt
as to the standards In this country. 1t
should be presented to the business men
of the country as Christmas gift. He,
Dolliver, did not want his record and past
follies brought up against him. He had
voted for the Sherman act in 1890, an act
which he now regarded as piece OF un-
alterable stupidity.
In 1898, when the act came to be repealed,
Mr Dolliver said he was very much per-
picked. He saw Senator Sherman one
evening, sitting outside his house like
Abraham outside his tent. Don't trouble
yourself about the failure of your predlc-
lions regarding silver" said the senator.
"Every prophecy l made about 1t has
turned out exactly the opposite" Iaugh-
ter).
.sJust as yours will now,' interjected
Mr. Cox, of Tennessee. amid renewed
laughter.
Continuing, Mr.. Dohver said he believed
that the results of the campaign of 1896
settled the silver issue. In 1896, he said,
the cry of Bryan was for more money.
Money was scarce. 1t was boarded. The
day after the election it came out from its
hiding.
Are you willing now," interrupted Mr..
Sims, of Tennessee, shat the mints should
be opened to silver If an international
agreement could be obtained?"
mo. SIR" replied Mr.. Dolliver. 'T have
had my last whirl with silver. have been
humbugged for the last tiEne."
Mr.. Dolliver said that the cry had been
for more money. In three years of repuib-
lioan administration 100000 900 had been
added to the volume of the currency, more
money than could have been coined by the
mints in ten years If the mints had been
opened to silver. ''In other words" said
he 1--WE have done for you in three years
more than you could have done for your
selves in ten years. Why don't you get
out OF the road and let the aain process
sion move on?" daughter and applause).
Recalled Bryan's Prophecy
Mr.. Dolliver recalled Mr.. Bryan's prophe-
cy that the gold standard could not be en-