The National tribune., 1900-02-22

4
, Mr.. Allison said that the bill did not
! provide for the exchange of silver notes
, for gold, because the committee did no
deem it necessary.
rs silver dollar dollar, or is il prom
} Use to pay gold dollar?" asked MIR. Till
man.
ut is dollar" replied Mr.. Allison
THE Senator and agree about that"
But how will a silver dollar be kept al
par with gold unless you will redeem il
in gold
, morrow replied Mr.. Allison. One OF
the reasons isibecause it shone Yesterday
We will keep silver at par because we
have so kept it for twenty-five years But,
: in addition. we will strengthen the stu,
alton. France and Germany keep great
mass of silver in circulation, but it is moi
redeemable in gold. The United States
Is the only country that redeems fractional
silver"
Senator Jones. of Nevada. spoke in oppo-
sltIon to the measure. He characterized
1t rs the climax of efforts to abolish The use
OF silver predicted that it would be followed
by an attempt to retire the greenbacks and
by the granting of power TO the national
banks to issue all the money of the country.
He declared that it provided for a perma-
nent. increase of the public debt of the
country. Previous attempts" he cX-
claimed. "to fasten the gold standard
tpOii tIIt Bs'pic vi lillS CDiIiuN nave pull
dered the American people of thousands
OF millions of dollars He characterized
the measure as vicious from beginning to
end, and said it was monstrous that any
officer of the Government should be given
the power to impose bonds upon the Ameri-
can people.
This bill places in the hands of the
national banks the control of the bonded
debt OF the country" said MIR. Jones.
whenever the banks see fit they can re
duce the gold reserve below the limit and
force al issuance of bonds; and this pro
cess can go on indefinitely. All this is in
the interest of the creditor, in the interest
OF the bondholders, and grievously against
| the interests OF the MASSES of the people of
this country. 1t is all done in the name of
honor and of honest money"
He advocated the issue of Il paper cur
rency by the Government alone. This
currency should be entirely independent
OF gold. silver or anything else that pos
ScSSed inherent value. Such money, he
argued, regulated i'll amount in accordance
with the population of the country would
he the BEST and stcadiest money that had
| ever been seen in the world.
The House adjourned in memory Of
Representative Chickering.
In the Senate, on February Il, the most
| interesting feature of the consideration of
the findrcial bill was the decisive ma ioritv
ny AiicH nT. SllailnlyT S DinetsllIc amend
ment vas defeated. This amendment
proposed to authorize the President to
appoint commissioners to any international
bImetalhc conference which might occur
and was lost by vote of p yeas and A.
nays; rs follows:
Yeas--Allen, Bate, Berry, Butler, Chand-
ler Chiffon. Clay, Cockrell. CulEerson.
Harris Heitfeld, Jones (Ark), Jones
lNev.). henney. McEnery Martin Money,
Morgan, Pettus. Rawlins. Sullivan. Teller.
Tilman, Turley, Turner'S.
Nays--Aldrich, Allison, Burrows. CAT
fiery, Garter, Clark (Wyo.), Cullom. Davis,
Deboe, Depew. Elkins, Fairbanks. Foraker.
Foster, Frye, Gallinger. Hale, Hanna,
Hansbrough. HaMley. Kean, Lindsay,
Lodge. Mcbride, McComas, McCumber.
Mcmillan, Mason, Nelson. Penrose. Per.
kins. Platt Comm. Plat (N. ", Proctor.
Quarle3, Ross. 'Sewell, Shoup, Simon.
Spooner. Thurston, Vest, Warren. Wet
more, Wolcott-45
The principal speech of the day was de
livered by Senator Teller, who took issue
with the Republican position that the
country was already on the gold STANDARD.
In conclusion he said: 81 would be lIn-
true 10 myself if | did not say that the
clples, which were the greatest good for
the greatest number. 1t has fallen into
evil hands and is Icing used by evil in
hucnces. The agencies which control it
now will not allow it to stand for righteous
ness and justice. When those agencies
dominate it, 1t will go down to defeat and
disgrace"
In the House the legislative, executive
and Judicial bill was considered.
In the Senate, on February Is, the SEN
ate substitute for the House gold-standard
bill was passed by a ma jority of Il. Every |
Republican voted for il except Mr.. Chand- |
Ter; every Democrat voted against il ex-
cept Mr.. Caffery, of Louisiana, and Mr.. |
Lindsay. of Kentucky. The vote was 46 |
to %. The bill will Row b. returned to the |
House, and will be sent to conference, the |
conterees probably being Mr.. Overstraet, |
who introduced the bill in the House and |
prepared the report upoa 1t; Mr.. Brosius, |
the Chairman Of the Banking and Currency |
Committee, and Mr.. Richardson.
The detailed vote on the passage of the
bill was as follows:
Ycas--Aldrich, Allison, Beveridge. Bur
rows, Gallery, Carter. Clark (Wyo), Cul- |
lom, Davis, Deboe. Depew, EIkins, Fair
banks, Foraker, Foster, Frye, Gear, Haze,
Hanna, Hans brough. Hawley, Hoar, Kean
Lindsay, Lodge. Mcbride, McComas, Nc,
Cumber, Mcmillan. Mason, Nelson, Pen
rose, Perkins. Plat Comm, Plat N. ", |
Prtchard. Quarles, Ross. Scott, Scwn |. |
Shoup. Simon, Spooner, Thurston. We
more, Wolcott-46.
NayS-6ate, berry, Butler, Chandler, |
Chiffon, Clark (Mont.), Clay, Cockrell |
Daniel, Harris, Heitfcld. Jones
(Ark.). Jones New, Kenney, McEncrv.
McLaura, Martin, Money, Morgan, Pett,is. |
Rawins, Stewart, Sullivan, Taliaf,ro. |
Teller, Tillman, Turley, Vest-29
One OF the amendments adopted. by a |
vote of d to 30, read:
That the provisions of this Act are not |
intended 10 place any obstacles in the way |
of the accomplishment of International |
by concurrent action of the reading com |
mercial nations of the world and at a ratio |
which shall insure permanence of relative |
value between gold aud silver"
The bill, as passed, consists of ten sec |
tions. Ii provides that the dollar of % $40 |
grains of gold niae-tenths fine shall be |
the standard unit of value. and that all |
forms Of United States money shall be |
maintained at a parity with il: and that |
Treasury notes and greenbackS snail he |
redeemable in gold.
The Secretary of the Treasury is to SET |
apart fund of S50,O00,00O in gold for the |
redemption Of these notes, and 10 maiu- |
tain this fund at a figure not below $780, |
O0D,OOO he Is empowered to sell bonds of
the United States bearing interest at not
exceeding 3 per ceat.
1t shall also be the duty of the Secretary
Of the Treasury as fast as standard silver
dollars are coined to retire an equal amount
Of Treasury notes and t. issue silver Ger
tificates against the silver so coined I'm
der certain provisions, too, gold certificate,
shall be issued against the gold held in
the Treasury. No United States notes or
Treasury notes shall be issued in denomi-