The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-01-12
WAILFUL
Continued from First Page,

| speak on the financial bill. BY unanimous
| consent, however. the resolutions of Sen
! ators Lodge and Hoar remained upon the
table Mr.. Gallinger objected to similar
| disposition of Mr.. Pettigrew's resolution.
81 give notice then" said the latter.
! that I will renew it. You cannot throt-
| tie debate upon this question: he added.
Mr.. Gallinger subsequently withdrew
his objection and all the resolutions re-
manned on the table for further discus
sion.
The currency bill was then taken up
and Mr.. Stewart addresser the senate.
opening with an attack on the Republic
| can party for bringing in a measure so
| utterly contradictory of the ST. Louis
platform" He then entered upon a gen.
eral discussion of the financial condition
of the world and attacked the advocates
of the gold standard for denying that
either the supply or demand for the god
has any effect in estimating the quantity
of any particular commodity which a
given amount of gold Will buy.
Reerring to the reply Of Secretary Gage
to the senate he said: The secretary OF
the treasury is not so absolutely ignorant
of monetary science as his contention
that the value of gold never changes,
would seem to indicate. In his reply TO
the resolution of the two houses Of con-
gress respecting his transactions with
certain New York banks he gives for a
reason for depositing the money of the
government in national banks, that it is
necessary to do so TO avoid contracting
the circulation, and that TO keep it in the
treasury would disturb the business Of
the country II seems a little strange
that the secretary can understand that
locking up money in the treasury vaults
disturbs business, and at the same time
thinks it is necessary to use only the
commodity gold upon which to stamp
money, although every foreign financial
trouble takes gold out of the country and
deposits it in foreign vaults. In his lee
lures on gold the secretary claims that it
possesses intrinsic value, while in admin
istering the treasury he regards the vol
ume of money in circulation as Of para
mount Importance, and deposits the sur
plus of the treasury in banks to keep it
in use and prevent contraction.
at is passing strange that business men
shape their transactions in view of the
probable supply of money, but when they
discuss the money question they follow
the example of the secretary and assert
that the quality of the material used as
money is the only question of Importance
without regard to the volume in circula-
ton. Is it not singular that people can
not see the asurdity OF the intrinsic value
theory, while in every kind of business,
act on the qualitative theory of money?
In their business they have in view the
supply of money, but many of them in
their arguments follow the teachings Of
the Clevelands and the Harrisons and
maintain that all they want is intrinsic
value in the money circulation, no matter
whether the volume is large or small"
In conclusion Mr.. Stewart said: 1.-THE
passage of this bill, whatever may have
been the intention of irs authors. win
bring this question sharply before the
American people. If this Dill should be-
come a law there will be no lodging the
issue. 1t must be. met, and that issue
will be between a government by colos-
sal and imperial concentration of capital,
welding the sovereign power of the
United States to create, extend and ex-
pand the volume of money, and an honest
measure of value consisting of the legal
tender money of the United States"
Mr. Aldrich, in charge of the financial
bill, asked to have some arrangement
made regarding that measure. Mr.. Jones
of Arkansas replied that no one was
ready to speak on the bill, but assured
Mr. Aldrich that there would be no dispo-
sition to delay it unduly. Mr.. Aldrich
said the bill had been before the senate
for three weeks, an ample time in which
to prepare for its discussion. Therefore.
he had a right to insist that the bill
should be disposed of as soon as possible.
Mr. Teller asked if there was to be no
speeches in support OF the measure. To
this Mr. Aldrich said he was unable to
reply. Republicans, he thought, were pre-
pared to vote upon IT, Mr.. Teller re-
garded it as remarkable that a measure
of such Importance should go to vote
without discussion from all sides.
At the request Of Mr.. Aldrich the hnan-
cial measure was postponed to 2 o'clock
Monday next. The senate then agreed
that when It adjourned it be to Monday.
Consideration of the census measure,
comforting additional authority upon the
director of the census, was then begun,
Mr.. Hoar withdrawing an amendment
he had offered. Mr.. Pettigrew offered
an amendment directing the director of
the census TO collect statistics in regard
to the distribution of wealth, in regard
to the extent 10 which machinery has
displaced manual labor and in regard TO
the private and corporation Indebtedness.
The amendment was defeated. Mr. Allen
Of Nebraska proposed an amendment pro-
vidng for the collection Of statistics re-
lating to trusts and that, too was de-
feated by a viva voce vote. Mr.. Allen
demanded the yeas and nays and wanted
to know Of Mr.. Carter II ne proposed to
deny this information to the people Mr..
Carter replied that the amendment was
simply a proposition that 80 enumer-
ator or a 500 clerk should determine what
institutions in an official document are
criminal"
He held that these institutions were en-
titled to their day in court. II these in
stitutions are trusts he said, If they
are in violation OF law. they are entitled /
TO be heard before the Laws Of the coun- !
try shall be applied TO them Ir. Allen /
declared that the effort to prevent the (
gathering OF information regarding trusts /
was q scheme to sidetrack him. There /
IS soma hidden power, It seems" he said. /
in congress respecting this matter"
\ sharp and amusing coiloquy took /.
place between Mr.. Alien and Nr Tllman /.
Of South Caroline tire latter criticized I