New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-11
THE FINANCIAL DEBATE.
MR. CHANDLER SPEAKS FOR BIMETAL-
LISM-SENATE BILL OPPOSED BY
MEssRs. Chiffon AND MONEY.

A@Afo-u-OE1-NA1E BILL w I $3.50
MEssRs Chiffon AND MONEY.
Washington. Feb 1o-The financial debate was
continued in the Senate to-day Mr.. Chandler
of New Hampshire, opposed the gold standard and
argued for blrnetalltsm Mr. Chiffon. Of Texas
and Mr. Money. Of Mississippi, also spoke against
the pending bill
Mr.. Chandler said in part:
Those who have absorbed the gold Of the world
trying to make it valuable BY legislation.
That is the natural meaning Of the hrst ten INES
Of the Senate bill There Is need OF the ia"
for any other object Absolutely no other PVT
pose is TO be subserved by those lines. The
passage Of the bill without adequate recognition
of the desire and determination of the American
ance Of the Republican platform of 1896. and with
out such recognition in the bil cannot give 10 i
ism, and advocate or submit TO TINS Is an
abandonment of Republican principles
Any retardation OF the movement 70 make gold
more valuable does rot suit the gold class Further
the exisng silver coin shall be put out from the con-
dition Of real money and placed IN the c9ndlon oI
redeemed demand in gold If this new Pr5ncip5e
money, will be $40 OO0.0OOO Oo And upon TINS gold
and credit money are TO be built all the checks and
other credits in trade throughout the world How
II s +-'Ie that baeaisa ~ il claimed Thai we have
now what called good times and prosperity IN
America, bimetalIism is ridculed and disregarded.
But good times are simply because the balance
of trade has been 50 largely in our favor; what
trade had not been in our favor?
In truth, spite OF temporary present CCndlJionS
the in favor OF bimetaIlism still remains unlm-
paired. The merits Of bimetallism plain. The
Such arguments as can be based upon the fore
going facts bimetallists are confronted with Inc
foyrths Of heir former rate viii BE- increased or
maintained Second. that it is not certain that
the increased production Of gold will continue. =
The attempt TO establish the gold standard IN
India has been failure India is silver country,
and will not accept gold as money or as the meas
England would welcome another movement for the
continues England may soon become willing to en-
large the metallic money Of the world through
The Republican party is pledged to binetallism.
Were blunderers when shouted over and
again for remOnetiza tom Is il not quite pos
M 6S mai DToDosd F6 5 or reS ans saT
ton? The Senator from Rhode Island says that It
bjmetallisq Why then not place an uneqUyocadi
is Unwise both in a business and political sense.
There is no need Of this law. Therefore let Us re-
metalsm in violation Of the pledges OF the Republl-
party. Let the convention 70 be held in June
II is with sincere regret that I differ so radically
convictions Of duty viii not allow me 70 do other
wise. have not abandoned the faith OF the
double Standard 50 do thirteen hundred millions Of
We want the real money of the world 10 be eight
F6r bIi FL Of doTaTs The difference means in
Justice. injury suffering and distress 70 millions OF
class Is to wax fat al the cost Of their helpless
The Republican party ought not TO do any such
grievous wrong. I entreat IT'S leaders not 70 bur
unnista kabie language our oftrepeated pledges to
T9r9oneze silver Il we are true 10 our a r
elect our gracious and patriotic President by pop
President has ever received Gan we afford b.
the passage Of the needless first ten lines Of this
bill without sufficient qualification TO add 10 the
The gifted Senator from New-York NIr. Depew,
is said o have designed for the Republican party
a campaign motto for 1900: Gold and Glory
giided banners and VIII doubtless lead to Victory
BuL me woTd go1 % means a Soo Inono ia
OF the party TO expatiate with marvellous eloquence
QeF Fa 6a g0Fy 6 DO sne 70 nag the eS
effects at the polls IN N1oem5 be- OF fne deep
half the metallic money OF the nations Of the
earth Mr. President. thou canst not say did It!
VIEWS OF SENATORS Chiffon AND MONEY.
Mr.. Chiffon declared that the main object Of the
bill was 10 refund the entire National debt in long
time gold bonds This would insure perpetuiry 70
the National banks and afford them a greater
money monopoly even than they possessed now.
It would likewise destroy all prospect Of bimetal-
ism, far the power Of the Republican party
could accomplish that result He regarded 1t as
likely that Treasury ruling would be made after
the passage Of the pending bill providing that silver
dollars and silver certificates should be made re-
deemable in gold He objected TO the great power
conferred by the bill upon the Secretary of the
the Issuance Of all bonds be vested in Congress.
Mr.. Money declared his belief that If the produc-
ton of gold should increase in the next five years
as it had increased in the last five. there would be
q demand for the characterization Of gold and the
reuonettza ton Of silver. Speaking of the Finance
Committees amendment relating to continued ef-
forts in favor of international bimetaIsm ne said
he did not believe in the sincerity Of any man who
did not al all times stand for his convictions -
do not know said M Money. where the de-
naand for the adoption Of his bimetaUic amend
uent came from Has the chairman Of the Finance
Committee had his 10 the ground and heard
the rumblings in the West against the pending bill.
or mas IT again been proposed 10 delude the people
in view Of that this is Presidential
Datgr year? The fact is the Republican party IS
absolutely faithless upon this money question That
is perfectly evident
In conclusion, Mr. Money said he never had a
more sincere conviction than that no greater ca
lamitv could come upon the people than failure
10 restore the money OF the CONSTITUTION
Dill to provide pay for certain retired ofncers or
the Marine Corps was passed
The Senate at 3-l5 p m ADJOURNED