The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-14

or to make them eNchangeable. They
had tot been degraded as the Senator
from South Carolina had affirmed. We
would never disgrace and degrade our
selves by allowing them to 80 to dis
count.
QUESTIONS By TILLMAN
How Will silver dollar" asked Mr..
Tilmap. "b. kept at a par with gold un
less you willAred2em it in goldi"
because" replied Mr.. Allison. we
have so kept it for twenty-five years.
BIT in addition we will strengthen the
situation. The United States Is the only
country that redeems fractional silver.
Suppose next summer a Democratic
President were elected" interrupted Mr..
Tilman. Il know YOU think that inn
POSSIBLE but miracles have happened,
suppose a Democratic President should
take il into his head to discriminate
against gold. how could silver dollars
bc maintained 1T parity If they are not
ledeemahlc in gold:'
You must catch Your hare before YOU
can cat him" replied Mr.. Allison amid
laughter.
This scheme Of finance then rests
upon the continued supremacy of the
party IN power"
Not ut all" r piled Mr.. Allison. Il
am speakin. Of silver certificates. not OF
the probability Of the eiection OF Il
Democratic President"
Discussing the reminding provisions
Mr.. Nilsson said the FUNDING should not
he pos tponed until there is an unfavoT-
able money market and that SD 100000
la.
the bonds now.
Mr.. Jones tNev.). strongly antagoniZed
the provisions o. the pending bill.
THE SCHEME EXPOSED.
This. me sure" said he is the climax
Of efforts that have be,n made since
1886 tn abolish the use of silver. Ii Is
certain that there will he additional leg
iSlation presented At some subsequent
date 10 retire the S316,000.0W OF
grcenbacks. / he gold standard advo-
Gates know that it would nct do 10 at
TEMPT to carry through all Of their plans
ut once. That would be a shock to the
American PEOPLE. There would be also
an effort in the near future to retire
the Treasury notes.
Il MS Will afford the national banks
an opportunity 10 regulate the volume o.
all money save only gold and silver con.
Thus All aggregation Of private banking
corr oraiionS Will exercise the sovereign
function OF issuing money instead Of ina,
funct;t,n being vested in the Government
alone.
He maintained that the result Of the
authorization of nutioral banks to issue
SO great IN anoumt o. currency is they
would lie able to issue by the provisions
Of the pending bill would be TO place
in the hands of the banks the credit Of
the ertirc peelle and ihe power. in
Tires of tinancial pressure and financial
>tringcncy absolutely to bankrupt thou
sands of people by calling in loans in
The regular conduct of their banking
business
FINANCIAL SLAVERY.
Mir Jones spoke with bitter sarcas.:,
OF he inans i'll dependence OF the Uni
ted States He declared il !; ccck-iGht
occurred III India it produced panic
IN Wall Street aud the war betwec,
Great Britain and the Beers was dis
turbins The finances Of the S0.U0o.G50
or American people.
Political indepxndence.' he said, is
much to be desired. bnt | would rather
live undcr an absolute despotism and
nave financial independence than 10 have
POLITICAL independence and be financially
dependent. Political independence with
out financial independence is indepcn-
dence only in name.
Mr. Jones maintained that this country
should have and net far distant would
have It's own distinctive money which
weuld not desert lis in time Of trial.
in conclusion he advocated the issue
o. Il paper currency by the Government
alone. This currency should be entirely
Independent Of gold. silver. or anything
else that possessed inherent value. Sucil
money. he argued. regulated in amount
III accordance with the population Of the
country would be the best and steades,
money than bad ever been seen in the
world.
After appointing Il committee to attend
Mr. Chickering's funeral the Senate adj
journcd.