The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-13
WOLCOTT ON CURRENCY.
lie Made Plea for The Principles OF Ills
Party.
AN ELOQUENT BlMLTALLIc ARGUMENT
'IsIisins spoke in Favor of the senate
Measurc-ButIer Spoke for His
Amendm cnt--Bills Passed.

Washington, February 12.-There was
more than usual interest To-Day in the
senate debate on the financial bill. sena-
tor Aliens resolution OF Saturday, express-
ing sympathy with the Beers. went over
without losing It's place. he fnln la
kill was then called up sul Mr. ElEins
addressed TIE senate His opening sen
tence was reference 10 the speech deliv
cred Saturday by M. Chaniisr He said
That it was SPEECH which would be dis
trihuted by hundreds OF thousands, no,
by his own political associates, but by bis
political enemies"
When MIR. Elkins hal concluded bills
on the general calendar were taken up
and the following passed: road 10 the
National cemetery at DovSr, Tenn. az a
cost OF S1l,500: to carry into effect two
resolutions Of tha continental congress
directing monuments to be crested TO tae
memory OF General Francis Nash and VII
liam L. Davidson OF North Carolina. APP
propria.ing $4,000 for cash: TO amend the
river and harbor act Of 1890 RELAXING to
the Galveston ship channel and Buffalo
bayou, Texas; apprcpriating 5000 for the
establishment OF light house and fog sig
nails on the Alaskan coast.
At 2 o'clock debate on the currency bill
was resumed by Mr. Woiccdt. In re'er,
ring to the first section declaring the
gold dollar should continue 10 stand al
the standard unit OF value Mr.. Wolcott
said:
"Of course it will and 1t will SO con-
tinue IL the soStion were eliminated from
the bill We might as well grave@y pass
law providing that yard shall con-
tinue to BE- three feet in length Its
re-enad.ment changes In no single respect
the exiting law. The section has been
The law since 1878 and is hardly worth
discussing now. Locking to the currency
problems Of the whole wcrld, all legi sla-
tlon Of tho character contemplated by ths
I bill, is 10 th3sa who believe in the prin-
ciples OF bimstallism, unwise, because
under the bene6cent working of the BIZ
metallic system II would he unne. g sary.
II Is but one more step to be eventually
retraced. nut the enactment Of this meas
ure into law without a. thu same ting
accompanying 1t with relftrm sion OF
tine position Of the republican party, re-
speeding internatio-3i bime ,allsm would
be an apparen; atandanment of the prin-
ciples and policy OF the parry: and the
&
mittee colveys positive assurance TO
the world that this country Is able to
hoid us cWn among he nations OF the
earth with gold as us st1uda;d that T.
IS stts ready TO mees and tr.at VITA The,
leading comnsgcla countries locking TO
an international agreement to open the
mlnts OF tbs world to silver as we'll MS
COLA
II realize that these seem unpropitous
fnr nG xtrha rlac ts.l a.. ~.
alllsm and faith in its final triumph.
These are prosperous times The prosper-
lily is real is universal aud | trust may be
long continued, hU, the experience OF gem
eraiitns has taught us that cycles OF de-
preston and stagnation follow periods OF
prosperity. In this country b!metallism
has received its greatest injury and suf-
fered its severest blow at the hands VI
the Bryan democracy. In closer alliance
with the populiTt party, which still de-
m1ndS an irledeemahle and inflated paper
currency. clamoring for free silver at is
10 by the United States alone, TO the ex-
clusion Of any other settlement OF the
question. advocating openly deprecated
money. ridiculng all idea OF International
agreement. associstlng their demand with
a snarlng protest against every policy
which sesks the enforcement of law and
order and the maintenance Of the honor OF
our country and the fulhlment OF our
obligations TO mankind it is not surpris-
ing that they have so clouded the minds
OF men that many of them see no difference
between the free silver of Bryan and BIZ
metallisn, and are Inclined TO seek an
end OF the whole matter and hesitate to
deal with the subject In any form. But
We can be honest and win. The failure OF
the republican party to stand up tor the
principle It has always advocated, will
bring 1t no additional votes The Chicago
IA E.tsFgH l..
There are some gold monometsllists in the
country of both political parties. They
won't vote for Bryan or Organism under
any circumstances. Accentuating the con
trast In the financial demands OF the two
parties by excluding all reference to In.
transitional blmetall'sm would only serve
10 throw into he shadow the populisttr
notions and Heterogeneous PATCHWORK OF
democracy now IN the saddle, which they
form. Cur ~, Louis declaration Of faith
and OF principles elected Mckinley and viii
triumph and re-elect him aud I must be
paldoned for urging that II is bad politics
as well as bad morals for us to change the
line OF battle in the face Of a once defeated
enemy.
~ i not necessary row to discuss fur
ther that question, but 1t is my judgment
that II BRYAN wore today president Of the
United states. ana il a msiority OF con-
gress were OF his way OF thinking. he
would never dare to seek TO impose upon
this country the responsibility OF entering
alone and unaided upon the duty OF main
tanning a parity at the old rate. Blm5tal-
lism assumes even greater Importance since
our acquisition of the Philippines. Here
are five millions OF people knowing only
silver, ana we can never impose upon
them gold standard and gold currency
without destroying their. liability TO com
pete with the other countries OF ths
Orient"
Commenting on Mr.. Bryan's Louisville
speech Mr.. Woleott said: This Is the
gentleman whom great party Is to choose
as It's standard bearer. a gentleman who
openly announces that II he were presi-
dent Of the United States. charged with
the protection Of the Nation. he would an
noupce to the government OF Europe that
the United states Intended opening its
minis to silver; that IN his opinion the
parity would be maintalned but would
threaten them. Il they did not Join us and
4 II the experiment. failed, we would pay
our obligations to them in appreciated
money. This Is a new doctrine, Mr.. Pres
ident that OF blmetallism by blackmal
| II Is no, surprising in the light OF this
statement that investors insist on a sold
bond. and one can readily understand why
Nj Bryan occupies the most unique ana
remarkable position OF any man In our