The Lamar register., 1900-02-28

Much interest has been taken by the
people Of Colorado in the position OF
Senator Wolcoyt on the new tinHncial
bill The reasons why be supported II
are given fully in the subtoined speech,
which viii be concluded in next week ;
issue.
Mr.. President the provisions Of the bill
under consideration have no direct Eela,
tion TO the question o. biinela tLlsIn, atI 20
the possibilities OF Its future attainment
Nevertheless, in the public mind al cur cur
issues assume a political hue and are
populaTly supposed to hayc some oeaIlhs
upon what Is known as the silver Gaes-
ton" For this reason II seems TO me
an opportuns time, in addition 70 a ieN
words respecting the scheme ana puE-
pose Of the pending hin 10 express brief
iy some views upon the general Prineipies
OF bimStailism, especially a. aneetsSa ,sS.,,3s "
OF the two political parties IN this egnh-
try upon this Important ana fHF-FrAehihs
question
The bill as it came to Us Is radically
changed and modified, and a substitute
bin reported. For the purposes OF ms
shall return from conference, argument
is alone applicable 90 the Senate eiii. t9I
will undoubtedly bear upon u the stamp
and Impress which the finance committee
q ths Senate have placed upon it ~, aed
Grafton here
The Senator from Rhode Island JMr.
AisdTichl chairman o. Lhs nn5asS s ;ss se'n7 n
q speech o. remag gkubls llSidity the plan
and scope Of the bal With tuusa that
he said nearly every senator on this Etie
OF the chamber was IN sympathy. 9th
er conclusions some Of US can not shAft'
t. as every senator must KNOW. surplus
age and wholly needless. refer to the
provision Teclung the contents OF the
sold dollar and declaring that Il shall
continue TO be the standard llnat VI val
ue. OF cgurss It will, and Il would s2
continue y this section were sli'nin9tsl
from the bilL We might as well Ersye4E
pass law providing that . yard shall
that IN the future Rs in the past, Al
acre OF land should contain ls9 square
rods. Its rt-cBactmEnt changes Tn no
single respect existing law. ard it, pres:
for By assuming that the tofunit;cs think
men are like children and Bs-i 20 Be ire
queutiy reasstiret that every tatng l. an
right, as the ideU formerly rrgvsilsd %
slept better II they were aroused At mid.
night 6y the town eTrr riuEtnE hts oe!l
and Ihat M vas wrli. The sectior has
been the law since is7A and II hardly
worth discussing nov.
The following section Of the bil IN
preventing for the future TIRE 4hsAS q
al win the gold IN The treasury through
the endless chain % the gTe-nhAeEs.
now rstssned as soon as recety-ta. Is in
one of vaiGs IN precludins he future de-
pletion OF tho gold in the treasury 20
which periodielily SvsriaSe The eoaatrys
and u should assist IN avoldtnE the ne
cessity OF issuing additional bonds 10 pro-
tect the reserve.
The silver and silver errtIacates, as
provided for In the bill rest upon foot
inE entirely separate and apart from The
Their leEal-isnrleT quality Is left 20 them,
There Is a discrimination eqn5erning
Ffsaaa 50 taEf=-
against them. The terms OF redemption
upon which they were Issued aFe rot
muud II s. pruytdpd that hereafter no
bills under SO shah be issued by any Of
and the burden af ali the small bills q
the country shalt taH uDun these ceytiG-
provision. Il does not ln5urp Or affect in
the slightest degree the n~upti8hihty, ihe
legAl-tsnder Qualities or the value. or
the standing qf the silver ccrttncAtss-
There IS however, ons Nusita ton re-
spectInE them that tho committee within
opinion. have 10 Ierisiasc respecting
There Are now outSt8 n5iiHg IN small bills
q 81 CHARACTER 6y ths government, n
lnw that denomination, some S5'i-s.s-ts0
as / eem9nts u " the ineTsGsc spflts
must come under the provisions OF tksis
btiL there Etn have g be some legtsl.-
ing either fnr some addition to the silver
fund out Of which further silver ceTtit-
eonapsilinE the issue sf small bliis appii.
cable 30 some otnCr notes Of issue or
some other fund now IN the treasury.
The provision requiring the payment Of
the principal and interest OF the new
bonds in gold represents, think, a mis-
From the point ai View % blTstaliiFna
the provision r. serious only In that it Is
an apparent ttscrimina tlon trl favor %
the one metal aud against the lawful
money pt the country Ipou the re-es-
tablishmsnt OF a b,rstaiuc basis Il can
make no difference as 10 the terms EN-
ployeo or the metal named in The bond,
for the two metals will be interchange
but following n fashion which has pre-
vailed in this country for nearly "A score
Of years. Four-ifths Of our railroad
bonds aEgrsgaUng a FAR greater sum
bill the bonds Of almost every Industrial
and manufacturing company. municipal
and county loans all over the land. and
countless mortgages made by individuals
IN gold The trainers Of the hilt assert
that by the Insertion Of this clause the
bonds can be fibated at a lower rate %
interest than would otherwise be requir-
what west Of the money-lsudinE belt
but ! can but express my regret that the
committee felt that the e1igenCies OF the
money market required a departure from
obligations.
1t must, however, be great source Of
pride 10 every citizen In this land. to
whatever party he may belong 70 realize
into the markets of the world and place
their securities at par at a lower rate Of
interest than can any other government
on either continent. England comes
nearly at par pay "a per cent. And Il
must not be forgotten that these bonds