The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-12
DEBATE ON IN THE HOUSE.
CoysIDER6TIOS or THE GoLDsDiyD-
ARD MIL BEGUN.

".
cal contest over tho Gold Standard bill. intro
duced In the House pursuant to oiucus APP
proval last week. began to-day. ind at the
close OF the session was five hours the way.
Two speeches were made for the bill. by Mr..
Ovorstreet Of Indiana. who stands as its
sponsor. and Mr. Dolhver OF Iowa. The
latters efforts was half humorous. and
wholly eloquent as is his wont. and
attracted the most attention. Tho oppo-
nents OF the bill were Mossrs Richardson.
OF Tennessee. Maddox OF Georgia. Mcclellan
OF New York and DeArmond Of Missouri. Not
withstandinR the lack OF popular interest in
the subject as shown by the thin attendance
in the galleries and on tho floor. there Is
great demand for time in which to speak. Re-
publican applications now on file foot MP seven
teen hours. i've more than are at the disposal
o! the majority. and the twelve hours allotted
20 the Demo cracy will be occupied. Gen Gros-
venor OF Ohio will be the first speaker to-
morrow. Other speakers for the majority will
be Messrs. Cannon and Hopkins Of Illinois.
Mr.. Overstreet rep. 1nd.l who was one OF
the committee which prepared tho measure.
was the first speaker to-day.
Our adoption Of the gold standard" no said.
rs In perfect accord with the movement in all
the leading nations OF the world, and In per-
feet harmony with the policy OF our Govern
gerlng doubt from che mind OF the public and
to give clear expression TO tho nations pur-
pose relative to its monetary standard. Is the OBJ
ject OF the leg slnton proposed by the bill under
consideration. When tho standard shall be
permanently established. and all doubt OF Its
stability removed. the parity Of all our money
will DO fully rccogn lied. and the kind Of money
In which payment shnll be made will be rarely.
81 ever. the subject OF dispute. Whom certainty
shall take the place Of doubt, and the integrity
Of our credit be az fixed as the honor OF tho
nation. tho national debt can readily be re-
funded at lower interest rates. and future loans
negotiated with ease upon better terms than
ever before.
The mere adoption OF the gold standard. Mr..
Overstreet continued. would not secure its
maintenance: that must also be- provided for.
The creation OF u division IN the Treasury would
provide q IAace for the exchange OF gold for
greenbacks and Treasury notes, as well "a
for interest bearing obligations. and for the
discharge OF all duties dovovng upon the
Government for the Issue and redemption OF
its obligations. There was. he said. now
no specific law authorizing any rarticu-
lar sum to DO held as reserve to meet
the redemption Of the greenhacks., and the
present practice In that regard should be legal
ICED and based upon epeci0c statute. II the
money should be truly and honestly main
tanned. proper provision for, their interchange
ability must be made. h. added. and the pro-
vision In the bill whereby notes once ex-
changed for gold should remain undstutbcd
in the Treasury and TO reissued only In ex-
change or redemrtion vas made. would for
fear EXPRESSED that the erchaneSghity, OF
But this. he thought. was unfoun1ei. In his
opinion 1t would be practically impossible to
S 9s '1 S Ss Of raa
the Treasury and tho fact that one dollar was
az good "a the other would take away any
desire to exchange them because OF a fancied
sisins authority to the sscTstary, -" o. the
notes or Treasury notes, in denominations not
less than one dollar. a. no may prescribe. and
paid out shall be in denomlna at ons Of only 81.
said ana 90 had b%o tS 0eIssLs MT Oyersreet
for small nes that @sR Scenr
The 6TsnEns up e silver csrta
HomhatiSns under III BY ' s2sU "p S a sG
GEeenbncks and Treasury notes, under $40
under the bill was So, 5Is, s3s "O 'o''''''
cent Sfea n the Of ssse 10
banks Mr.. Overstrcct defended as sound in
logic; sate IL praetic. ana more consistent with
repeal OF the tax on national bank notes and
the substitution OF tax upon bank franchises
s,.s sEi5fi ;a.fqGsss Sna r.iG o%f g.s
tax. The revenue received " from the prcsen sent
tax during i've years last past was sJ.4Up.H4S.
Enii s tee pfoposed tax pp3n the sam: banks
Sos. difference Of only s3Os."lp. Tbs beno-
sSi ib5 reiSltT Of ,n nrp?s2p he SAID would
the same degree n the smaller banks whils
the amount OF revenue would DO practically
:, MI oyerstrcet was followed BY Mr. Maddox
LDem. Ga. member Of the last Banking and
such important measure had been presented
70 Congress within ilfty years.
y, h p hat been t% no demand from the masses
ss2ISpntry Tor the enactment Of this biz. Where
aIa you Ts, aIb,hns %r ,h.s step he asked
financial circles" In the closing hours OF tho
ttith;tour,th c9nErSss sail Mr Maddox. after
Senate for the appointment OF a rom miasIon to
ism In tho c9nsds ration Of tRas m HnS,n,
Nr ,Quigg OF New York interGrctei thc. st,
d Lev platform to mean ,hs ndoption Of tho
protested. Including such mon ,es DlnGIey1,
whom asserted that any ltcpublicun who held
the views expressed by. Mr. QuIGg was an apos-
here. and pretend to be authoriScd and justified
d In ie,ste9ins tho gold standard upon the
country.
:. The success OF tho timetable commission IN
Europe, Mr.. Mad lON continued. was frustrated
by the intermcdhng Of Cabinet officers Of tho
present admin stntlon. "You have not" ad-
dressing the Republic been honest and
sincere m your efforts 10 carry out the pledges
made to the people in the ~. Louis platform
Mr, DGl!iveG Rep. Iowa said that in his
Tor the time and he. would BE- delighted II
Congress could give IL to the business men Of
America fora Christmas gift, hppRuscl The
1S34
Mr. Maddox-If that il the case. why ia It
necessary 10 declare 1t In lnw2
Mr. DOllivCr-It Is because some OF tho
fellows on, your side haven't heard of It.
Mr. Deliver admitted that he had taken n
part IN the consideration Of III. silver question
In Congress from 1889 To the present time be-
ginning with Il vote for the sherman pur-
chasing law OF 1900 which he frankly con-
ceded g. b" one ofinroncciyahlc stupidity, And
everything that had been done in. tho ianced
inteTest aud behalf of silver had benn done by
the Repuh can party Mr.. DOlliyor said that
he was SO worried about the results on some Of
the acts done Tor silver that he ielt like resign
ing, One day he saw Senator sherman, whose
words had influenced his votes in IN 80
matters. and conhded his doubts and fears
Mr. Sherman said in that kindly manner
always indicating the great soul that he would
not worry about that; that every prediction ho
had made regarding silver IN the past twenty