Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-01-05
TIE SAME OLD STORY
Resolution Calling For corro.pon-
dcnco Between tho Treasury De-
pnrtment and Certain National
Bank. OF New York city Modified
ana Agreed To-A E:esoIution of
Pertinent inquiry Ruled ont.
tBy Telegraph to virginian- pnot.)

10Y 10 IL
washington, Jan. Am accordance
with the notice previously given by
him, Senator Aldrich to-day opened the
discussion OF the financial bill in the
Senate with speech in explanation of
the Senate substitute for the House
BILL The speech was carefully pre-
pared and was read from manuscript.
1t was delivered in clear and distinct
language. but without any effort at or
atory. Senators present gave him
careful attention, but no one interrupt
ed him with questions or otherwise dur
ing the delivery. nor did any one man
1fest disposition to reply after he had
concluded.
THE PHILIPPINES AGAIN.
Mr. Beverldge, Indiana, presented the
following resolution:
THAT the Philippine islands are ter
ritory belonging to the United States.
that 1t Is the Intention Of the United
States to retain them as such and to
establish and maintain such govern
mental control throughout the archi-
pelago as the situation may demand"
Mr.. Beveridge asked that the reso-
luton lie upon the table until next
Tuesday. when he will speak upon it.
A message from the President was
read. transmitting the testimony taken
by the commission appointed to inves-
figate the conduct of the war by the
War Department.
"A resolution was presented by Mr..
Pettigrew calling upon the Secretary
Of the Navy for the report of Admiral
DnWaV n i,,
Admiral said he could take Manila ut
any time. Tie asked immediate con-
sderation, but Mr.. Spooner objected,
and the resolution went over
AGREED TO.
Mr.. Aliens resolution calling for cor
respondence between the Treasury De-
partment and the National City Bank
and the Hanover National Bank, of
New York, was agreed to with modifl
cations.
The consideration of Mr.. Pettigrcw's
resolution concerning the advances re-
ported TO have been made by Aguinal-
do through General Torres to General
Otis after the beginning OF hostilities in
the Philippines WAS postponed unttt
Monday
SENATOR ALDRICH'S SPEECH.
The Senate at 1855 p. M took up the
financial bill, and Mr.. Aldrich address
ed the Senate He said:
THE general purpose of the bill is to
declare anew that gold is the monetary
standard of the United States; to es-
tablish confidence In the intention and
ability of our Government to give the
greatest possible measure OF stability
in value to its currency and to provide
cac11finfr = M
times an equal purchasing power with
gold; to tighten in every possible way
the burdens imposed upon the taxpayer
by existing public obligations and to
strengthen the public credit. No de-
parture is intended by this bill from
the pubic policy which was adopted
years ago and has been consistently
adhered to through successive adminis-
trations.
THE bill now before the Senate con-
tains no disavowal Of the position here
tofore taken upon the question of inter-
national himetallism. and places no OBJ;
stacles In the way OF its accomplish
ment in the future. If 1t is poss BILE to
secure permanence of relative value to
gold and silver coins wi II the free coin
age of both metals at fixed ratio, this
permanence can only be secured by
concurrent action ol all TIE iedulIlS
commercial nations"
Senator Aldrch accused the Demo-
cratic party of advocating policy
that would lead to silver monometal-
lism, and declared it was not n bimetal-
lie party at all.
"The committee do not suggest any
changes in the status of the silver dol
lar or the silver certificate. We do not
propose to take away from silver any
of the monetary privileges or preroga-
tives which 1t now enjoys. In fact, we
believe that the legislation suggested
will greatly strengthen its position in
our monetary system"
The Senator defended the refundine
provisions OF the bill as a precaution-
arv measure in view of possible future
Increase of the public debt.
At the close of the speech the Senate
went into executive session, adjourn
ing at 500 o'clock until next Monday.
PENSION PROPOSED.
Washington. d. c.. Jan. Among
the bills introduced in the Senate to-
day was one by Mr.. Clay. OF Georgia
rronfins a nension OF $50 per month 10