The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-13
DISCUSSION OF
THE GOLD BILL
Elkins Advocates the Passage
of the Measure.
SPEECH BY Mr. WOLCOTT
HE GIVES A DIG At BRYAN DE
MOCRACY.
THEY'VE HURT CAUSE OF BlMETALLISM
So Declares Mr., WoIcoit Who Rose 0stensibly
TO Defev.d il. He Wants Reaffirmaticn
in Favor Of fimetallism by In
ternationaI Agreement.

Washington, Feb. 12.-The final weeks
discussion of the pending Financial Bill
was begun i'll the Senate today. The
speakers were two Republicans. Mr..
EllSins CIV. VI, and Mr.. Wolcott (Col),
and one Populist. Mr. Butler N. c. Mr..
Elkins advocated the passage of the
pending Senate measure in brief but
forceful argument. Mr.. Wolcott Chair
man of the International Bimetallic Com
EMISSION Of 1897. spoke for many Republ-
cans who adhere to binetallism and his
speech. earnest and eloquent, was re-
corded unusual attention. Mr., Butler
advocated the adoption of his amend
ment providing for an issue of paper cur
Tency by the Government
\ House Bill for the preservation or
The frigate Constitution was passed. the
measure providing that the ship should
he restored *s nearly as possible to its
original corlition.
y blll us also PASSED extending the
powers and functions of the Court or
Private Land Claims umu June Both,
1902
ADDRESS BY MIR. ELKINS.
Inc L llIdltIdI Dlll WAS tu6u CdIeu up
and Mr.. Eikins addressed the Senate.
1Ie said Mr.. Chambers speech of Sltur.
clay would be distributed by hundreds OF
thousands of Mr.. Chambers political
enemies. Mr.. Elkins commended the
general provisions of the bill but crit
icised the sixth section providing for the
funding Of the public debt
I'VE should not" he said, reach con,
f.fuSiorlS and IpUiSlnta from Tho stand
point of vision or the highest wave of
prosperity the country has ever had.
The conditions which surround us in
the tinapcial and commercial world are
eXtraor binary. Present favorable condt-
tons will be followed naturally by a re-
acton that viii bring new experiences.
The Senator suggested that the Gov
eminent might find il difficult at some
time III the future to keep the proposed
two per cent bonds at par. and asked,
would it not be better and in the public
interest to make the rate of interest
hlgh'r, say to three per cent and offer
no inducements to- the national banks.
In closing he said that even under
more favorable conditions than are
promised in the pending bill. note circu-
Iation OF national banks may disaTpea>
partly because it is profitable now to
the banks and may not be under the
provisions Of this bill. and partly be-
cause of the prejudice and opposition
on the part of large portion of the
people to national banks issuing cur
gency; but largely. and more than all
this. for the reason there will be nv
need of bank note circulation in case
the increase of certificates against gold
deposits in the Treasury should con-
tinue. To his mind. gold certificates and
silver certificates under proper limita-
tons are the money of the future. and
the very near future This would leave
with the Government the sole power Of
issuing money: therefore. concluded that
it is not needful to offer inducements to
national banks to take two Per cent
bonds. nor to fund the public debt before
our bonds mature by giving bonus to
rational banks and putting out bond
that cannot be redeemed under thirty
years.
The following bills on the general cal
endar We're passed
To construct road to the National
Cemetery at Dover. Tenn, at cost OF
$I1 800.
To carry into effect two resolutions of
the Continental Congress directing monu-
I'tHtS " Ut eTtcteu 10 tHt HitHiplA Va
General Francis Nash and William l..
Davidson. of North Carolina, appropriate
ing $1,000 for each.
To encourage enistments in the navy
by providing successful applicants With
an outfit valued at So.
To authorize Hon. 4. s. Handy. at
present Minister of the United States
to Greece Roumania and Servia. to ac-
cent the decoration rendered him by
the Shah of Persia.
To authorize the following naval Off
GERS to accept orders and decorations