Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1899-12-16
STANDARD ALREADY FIXED.
Bailey Declared the Law of 1878 Estab,
iishcd 1t and Now Law Was
.;ot Needed.

WASHINGTON, Dec. 1G.--The closing
day Of tho general debate on tho finan.
cial bill in the house proved to bo one OF
exceptional interest. At the outset 8
sharp personal colloquy occurred be
tween Representatives Wheeler anc
Berry tky.) over the recent Kentucky
election and the charges growing out oj
it. Considerable feeling was shown
Later in the day MIR. Bailey tTex.), un
til recently the Democratic floor leader
received close attention in an hour,
speech, vigorously presenting the Demo
cratic view and euloglziug the Demo
cratic organization. In marked con
trast with Mr.. Bailey's utterances, Mr.
Scudder IN. ", who followed him, an
nounced that as Democrat he believed
in the gold standard and would vote fos
it. Mr.. Payne IN. " and MIR. Dalzell
CPa.) also spoke during the day.
Mr.. Bailey said remarkable spec.
tacle was presented by the debate on thii
bill. He recalled that when in the
Fifty.fourth congress Mr.. Towne as
serted that the Republican party had
never declared for gold standard, The
Congressional Record showed that he
was interrupted by many Republicans
with the exclamation: "And it neyei
will"
Mr.. Bailey said the Republican side
was so busy studying the trend Of event,
that 1t had no time to study the scienct
OF money. While the first section oil
this bill purported to establish the gold
standard, the law of 1876 fixed the gold
dollar rs the unit of value. This bill
was therefore simply re.enactment pu,
forward to make people believe some.
thing new and wise WIS being done.
When Mr.. Bailey referred to the in.
creased production of gold, Mr.. Dalzell
Interrupted to ask If in view of this III.
creased supply of gold Mr.. Bailey still
believed in silver ut 10 to /. The Texan
responded emphatically in the ailirma.
tive, amid Democratic applause. The
Democratic side simply asked a suffi.
cheney OF basic money, and IL this was
supplied by either gold or silver, then
instead of refuting tho Democratic
position 1t simply confirmed it.
Mr.. Bailey declared that the logical
outcome of this bill would be to take the
millions of silver impoundcd in the
TREASURY into the open market and sell
1t, az Germany had done. If the sup.
porters OF the measure were honest and
consistent they would thus offer the sill.
inevitable fate OF silver now under this
bill: He compared the appreciation Of
gold values and the corresponding do.
probation OF cotton and wheat.
Mr.. Bailey closed his speech with u
stirring tribute TO tho time honored and
undying Democratic organization. which
evoked applause from the Democratic
side.
AT tho evening session Mr.. Clayton
(Dem., N. W announced his intention,
to vote for the financial bill In re.
sponso To unfavorable references which
had been nude to gold Democrats. Mr..
Clayton said thore were mnny OF thu,
belief in New York aud tho number
was growing constantly. Others WIN.
spoke for the blll were Mcssrs Sullo.
way IN. H. ,Binghamt Pa y, ,Mudd md
and Minor (Wis,j.
Those who spoke against tho bill wero
Robinson lNeb.), Thomas IN o.,
Lloyd (Mo J, Snodgrass Crcnn.) J, Buokor
lMo), Rohb tMo.), Davenport pa +,
Lamb (Va,l, Caldwoll Glls.J, Stephens
(rex.), Gordon 90, pnd Neville tNeb.)