The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-02
THE GAGE LETTER AGAIN.
Senator Daniel in a Speech Opposes
the Gold Standard

occupied by Mr.. Allen (P0p. NeD) III q
discussion of the report of Secretary,
Gage concerning his transactions with
the National City bank of New York.
Mr.. Daniel Dem. Va.) then delivered
an extended speech on the pending
financial measure. He vigorously OPT
posed the proposition that the country
should go to the gold standard.
Daniel NJ. Ransdel, of Indiana, and
Charles G. Bennett of New York, were
sworn in as Sergeant-at-A Arms and
Secretary of the Senate respectively.
Mr.. Rawlins Utah rose to a question
Of personal privilege and to make per-
sonal inquiry. He called attention to
references to himself in the record, init
mating that he might have revealed GER
tain things as to the domestic affairs of
citizens of Utah and perhaps to the
moral status of a member or members
of the House of Representatives. He
thought this was breach of the courte-
sizes and privileges of this body and ask
ed whether it would be within the priv
ileges of a member of the Senate to re-
ply to such illusions.
The chair (Mr Frye held that if any
Senator should begin an attack upon any
member Of the House the chair would
call him to order, but, he said, it was
for the speaker Of the House to deter
mine what action he should take in such
circumstances.
Mr. Rawlins said he wanted to show
that his silence should not be taken as
an admission of the truth of the state
ments.
Mr.. Pettigrew offered a resolution that
mission" be printed as a public docu-
ment He asked that it lie on the table
until tomorrow morning.
Mr. Pettus (Ala.) offered a resolution
calling upon the Secretary of the Navy
for information as to why he had de-
clined to supply the court of claims with
information as to naval court martial.
The resolution went over under objec-
ton.
The resolution of Mr. Allen discharging
the Finance Committee from further con-
sideration of his resolution calling for
information from the Secretary of the
Treasury with reference to has transac-
tions with the National City bank and
the Hanover National Bank of New
York. was laid before the Senate.
Mr. Allen claimed that the replies of
the Secretary of the Treasury had not
been sufficient. He read the now ia
mous/1etter addressed to Secretary Gage
by A. B. Hepburn, Vice President of the
National City Bank, in which reference
was made to the bank directors part in
the campaign of 90.
Mr.. Allen admitted that no reply was
made to that letter, but he said, that its
object was attained was evidenced by the
fact that when the letter was written
the National City Bank had vastly
smaller amount of Government money
on deposit than it had a month later.
Mr.. Allen charged Mr. Stillman with
inviting the Treasury Department to
give the country the impression that
there was more money in the banks Of
New York than there really was. This
ought. in his opinion to have called forth
a sharp rebuke from the Secretary, but
the correspondence showed none.
Mr.. Allen said the logical deduction
was that the transactions were conduct
ed for political purposes and the Ameri-
can people could not be persuaded that
there was not undue intimacy between
the treasury and the National City bank.
Mr.. Daniel then spoke. 1.-THE Ameri-
can people," said he, .are by tradition
in favor of bimetallism. They are like
wise in favor of sound money. The
Democratic party has always been the
most pronounced and consistent advocate
of bimetallism.
He objected to the Senate measure
because it practically excluded silver and
nobody could foretell the possible Gala
nifty it light bring ON the world. There
was almost as much silver money in the
world as gold, yet this bill struck such a
blow at it as might prove fatal to it.
The House Bill he said, did not interfere
with the legal tender character of silver.
In answer to inquiries by Mr.. Daniel,
Mr.. Aldrich said that under the Senate
Bill the silver certificates were payable
in silver, not in gold; but that the Urea
sury notes and greenbacks were payable
in gold. ;,
said Mr.. Aldrch, lis not changed by this
bill any more than is that of the gold GER
tiicates."
Continuing, Mr.. Daniel said this coun-
try had $500 600 600 of silver money,
and while the Senate bill sets forth that
it intended to maintain all money of the
United States at parity the vast volume
of silver money was left out in the
cold.
Does the Senator think" inquired
Mr.. Aldrich, that the outstanding silver
dollars need any protection to maintain
their parity with gold?''
Mr.. Daniel replied that he did not.
The purpose of the pending bill, he said,
was to overthrow the immense mass OF
silver money and the bill had left nearly
half of our money unprovided for. If
he continued you will put the metal in
the dollar, the dollar will take care of
itself"
81 want.to SAY, as my personal opn-
ion," said Mr.. Aldrich, that 392, 100000
dollars made of copper, containing 41212
grains of copper each, could be maintain
ed at a parity with gold under the same
privileges now accorded to silver"
Mr.. Daniel expressed his gratitude to
Mr.. Aldrich for making that statement,
as he said, that was the opinion of an
bi-metallists and he was glad that the
Rhode Island Senator had recanted and
once more come into the fold.
II shall stand by the dollar of the
common law" said Mr.. Daniel in con-
clusion; SPY the dollar of the Constitu-
ton; by the dollar of America, which to-
day, erect proud and triumphant is