The record-union., 1899-12-12

DEBATING The
CURRENCY BILL.
CONTINUED from First Pase.y

the bill banks with 81 100000 capital,
now required to deposit bonds equal To-
third of their capital in the Treasury,
We're required to deposit. only SoO,oOV
In bonds, enabling them to contract or
expand the currency at will.
He then assailed Republican advo-
Gates OF the gold standard for apostacy,
and particularly attacked Hepburn of
Iowa, Dingley of Maine and Grosvenor
or Ohio, who, he said, advocated silver
coinage by international agreement IN
1897.
Maddox summed up his argument py
declaring the measure to be Dill de-
signed to legalize the authority USED
by the Treasury to put the country on
gold basis; to demonetize one-ha
the final money of redemption; TO aller
the obligations of the people, without
their consent into gold obligations; to
contract the currency at the VIII OF
the banks, and to create glsantic
bank TRUST for the benefit OF few
Thousand people.
Dolliver of Iowa, the next speaker,
read from the speech of Governor Alt
geld to the effect that the Republican
Congress would obey orders, and enact
gold legislation. For himself, he said,
he was proud to say that he was obey,
ing orders-the orders Of the people of
his district-trying to put the laws OF
the country into harmony with their
opinions. The pending bill was COM
promise representing the united wisdom
OF all. There is something about the
pursuit of the science of money" said
he, that enables everyone of its stu
dents to comprehend his own ideas
without being very hospitable toward
the ideas of others
This was bill to set at rest all doubt
as to the standard in this country. 1t
should be presented to the business men
of the country as a Christmas gift. He
Oolliver) did not want his record and
past follies to be brought up against
him. He had voted for the Sherman
act in 1890, an act which he now re-
garded as a piece of unutterable stu
pidity. In 1898, when the act came to
be repealed Dolliver said, he was very
much perplexed. He saw Senator Sher-
man one evening sitting outside his
house, like Abraham outside his tent.
Don't trouble yourself about the fail
ure of your predictions regarding sill
YER" said the Senator. every prophecy
I made about it has turned out exactly
the opposite" Oaughter)
Just as yours will now" interrupt
ed Cox of Tennessee amid renewed
laughter
Continuing, Dolliver said that he be-
lieved the result of the campaign of
1896 settled the silver issue. A propo-
sition, which received a black eye in
Iowa and Massachusetts at the same
time, in his opinion, had no future in
the intellectual life of the American
people. In 1896 the cry of Bryan, he
said 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
Simms of Tennessee, that the minis
should be opened to silver if an inter
national agreement could be obta.ned?"
mo. SIR" replied Dolliver. Il have
had my last whirl with silver. I have
been humbugged for the last time"
.Dolliver said that the cry had been
for more money. In three years of Re-
publican administration 100000, 0OU
had been added to the volume of cur
ISucy, HlOTe money lIldu COuiO nave
been coined by the minis in ten years
If the minis had been opened to silver
In other words" he said, I'VE have
done for you in three years more than
you could do for yourselves. Why don't
you get out Of the road and let the
main procession move on?'' daughter
and applause)
Dolliver recalled Mr.. Bryan's proph-
ecy that the gold standard could not
be enacted without a universal fall of
ber," he asked, who will rise in his
place and say that Mr.. Bryan knew
what he was talking about?''
Not Democrat rose Dolliver paused,
reiterated his question and then re-
sumed: y
''It is then confessed that in ques-
ton which goes to the heart of the con-
troversy Mr.. Bryan lacked wisdom.
He called attention to Mr.. Bryan's pre-
diction that wages would fall and men
would be thrown out of employment
Yet at the end of three years of Re
publican administration under the gold
standard there was not an industrious
man in the country without employ
ment. Those three years, he said, had
removed the last fears of the Repub-
gold legislation. 1t could not have
been done two or one years ago, but
to-day the unanimous voice of the Re