The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-12

the final money of redemption, to alter
| the obligations of the people without
| their consent into gold obligations, to
contract the currency at the Will of
the banks and to create gigantic
bank trust for the benefit of a few
/ thousand people.
| Mr.. Dolliver qa.), the next speaker,
read from the speech of Governor
Altgeldt to the effect that the Re-
! publican congress would obey orders
and enact gold legislation For him.
self he said, he was proud TO say that
he was obeying orders-the orders of
the people Of his district, trying to
| put the laws of the country into bar
mony with their opinions The pend
ing bill was compromise represent
| ing the united wisdom of all.
Good Christmas Gift.
There is something about the pur-
suit of the science of money" said he.
that enables every one of its students
| to comprehend his own ideas without
being very hcspitable toward the
ideas of others
This was a 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 Dolliver) did not
want his record and past follies to be
\
voted for the Sherman act in 1890. an
act which he now regarded as piece
| of unutterable stupidity.
In 1893, when the act came to be
repealed, Mr.. Dolliver said. he was
very much perplexed. He saw Senator
| Sherman one evening sitting outside
his house like Abraham outside his
| tent.
Don't trouble yourself about the
failure of your predictions regarding
| silver" said the senator. Every
prophecy 1 made about 1t has turned
out exactly the opposite" daughter)
Just as yours will now" interject-
ed Mr.. Cox (Tenn.), amid renewed
laughter.
| Settled Silver Issue.
Continuing Mr.. Dolliver said he be-
lieved that the result of the campaign
of 1896 settled the silver issue.
A proposition which received a
black eye in Iowa and Massa-
chusetts at the same time, in his
opinion, had no future in the intel
| lectual 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 it's
hiding.
.'Are you willing now" interrupted
Mr.. Sims (Tenn.), that the mints
should be opened TO silver if an inter-
national agreement could be OBJ
tained?"
mo SIR" replied Mr. Dolliver, 81
have had my last whirl with silver.
have been humbugged for the last
time"
Mr.. Dolliver said that the cry had
been for more money. In three years
of Republican administration 100000
600 had been added to the volume of
the currency. more money than could
have been coined by the minis in ten
years if the minis had been opened to
silver.
In other words" said he, 1--WE 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.)
Prophecy of Bryan.
Mr.. Dolliver recalled Mr.. Bryan's
prophecy that the gold standard could
not be enacted without universal fall
in prices.
is there a man in this chamber"
he asked. who will rise in his place
and say that Mr.. Bryan knew what he
was talking about?''
Not a Democrat rose. Mr.. Dolliver
paused reiterated his question and
then resumed.
1T is then confessed that in ques-
ton which goes to the heart of the
controversy Mr.. Bryan lacked wis
DOM He also called attention to
Mr. Bryan's prediction that wages
would fail and men would be thrown
out of employment. Yet at the end of
three years of Republican administra-
ton under the gold standard there was
not an Industrious man in the coun-
try without employment. Those three
years, said he. had removed the last
fears of the Republicans as to the wis
dom of enacting gold legislation. 1t
or one year ago, but today the
unanimous voice OF the Republican
party was backed up by the experience
of the business world.
Opposition to Bill.
Mr.. Mcclellan IN. YD. opposed the
bill. Il do not wish it understood"
said he, that l advocate the present
system of bank note currency. The
first direct consequence of the enact
ment of this bill will be very great
raise in the market price of govern
ment bonds. Its enactment also
would result in the extinction of the
present bank note currency
He argued that the impounding of
the treasury notes and the United
States notes in the terms of the bill
would result in a contraction of the
currency amounting to over 1855. 000.-
900 and require an issue of bonds to
that amount at an additional cost of
S.. 1000, 900 or a total contraction of the
currency of nearly $5l0,000,000 and a
reduction of the per capita to 1892. In
conclusion he appealed to the sound
money Democrats in the house not to
vote for the bill.
Corrupt Power of Money.
Mr.. DeArmond (Mo.), followed in
opposition to the bill. Replying to
Mr. Dolliver he said the Democrats
had not been overborne in 1885 in the
conflict of reason, but the Republican
party had won by summoning to their
aid the corrupt and tremendous power
of money and corporations.
He charged the Republicans With
dexeiving the people in 1896. They were
bimetallists then. If they were honest
then they must be dishonest now; if
honest now dishonest then.
The change of the bonds from coin
to gold bonds he said would make a
free gift of 800. .000 to the bond
holders. The bill would create a bank
trust. He predicted that this meas
ure would overwhelmingly defeat the
Republican party in 1900.
when the peoples victory was won
next fall said he, in conclusion, lit
must not be necessary to go to the
vine clad cottage at Canton. O., to
offer congratulations. but beyond the
Mississippi to that modest home in
Lincoln, Neb.. where resides that great
and staunch friend of the people"
Democratic applause.)
Mr.. Greene (PaD. then announced
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