The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-01-19

have been better for ug as 1s.
admiral Dewey could have
from Manila bay on the mornir.s -si
he had destroyed the Spanish nas2 a
ne mad 20 remain To suppress an &
and chaos '--'g
Mr. wellington said it was 49,,
fair nor Just TO attack the nrasi5. %
the administration for the cor5r-.
the present war. During the fr.
between the two sessions of et--
It was the presidents duty tn -
this war for the uQhOidine of
can authority on the islands IN.
responsibility of the presi5s-|
ceased and is upon congress. Nh
hnst5n closed with the statemer,
in his opinion his resolution. II s5
VIII conclude the war in uanrs-t
honorable and glorious To the Ar-s-.
nation as we'll as the Filipinos.
Speaker Is Applauded.
Mr.. Wellington speech was rst-.
TO with attention by senator's and
dltors in the galleries. and at frs
ciuslon was applauded.
Mr. McEnery (La-) gave notice 81.
on next Tuesday he would address i
senate on the resolutions RELATING r.
proposed amendment TO the rGDs-..
ton of North Carolina.
Mr.. Turner (Wash.) Announced 81.
he would speak on the Philippine r-.-
ton next Monday. and Mr. Bacon -
gave notice that he would dfscrss &.
resolution on the Philippines next w.
nesday. A bill for the relief of rsr.-.
settlers on public lands and to nr5r-.
for the repayment of certain fees s.-
was passed,
On motion Of Mr.. Aldrich Or. H.
sideTatiOn of the financial bin WAS r.
stunned and Mr.. Teller continued .s
speech he began yesterday.
Teller Talks on Finance
Mr.. Teller criticised the pen5fr- Nm
because it afforded opportunity i.
banks to issue paper money. This s.-
render Of great power Of the e6rs-
ment, said he 'the right of mails.
money, should bring our legislation i-.
absolute contempt. This bin / kr.-
VIII be crystalliZed into law. Nh.
the Republican caucus declared --
this legislation must be enacted rs
was nothing else to be done.
There was a time in the history ID
the Republican party when no csg.-
would have attempted to say To- an f.
dependent senator. You must f1r--
the majority. There are men ON M.
floor who know that they would nars
vote for this bill except under the IN
fuence Of party caucus and psr-
force"
Mr.. Teller then read the now fam~
letter of Vice President A. p. Fa-
burn Of the National City bank of M
York to Secretary Gage. He thgprt
it a most remarkable letter
Hepburn's Letter TO Gage.
"I don't speak i'll willingly of those
authority. / wanted to think kir5
Of them. But here IS a letter w1s
ought TO have gone back to the Urirs
with a singing letter of reply. Fr-
subsequent events, however. it is ey
dent that the secretary intended
grant the request"
NJ Teller said that when he ss.
bank presidents taking action in poi
tics. as was indicated by the Hepburn
letter. he was satisfied the situation d.
manded severe criticism, If not drast
action.
us there any necessity for the Iegf,
latiOn2' inquired Mr.. Teller. Il won.
like TO ASH TIE senator from RhT
Island (AldTich) whether there is an
trouble with American credit. is the-
any other country which can sell /!
securities at such prices as We CAM 4
Of our bonds are higher than those
any other country. Nobody is question
ing our honesty. And yet we nave lee
isaatiOn here, the 'ayOwed purpose
which ia to strengthen our credit an
relieve taxation. The senator fro
Rhode Island did not tell us how %.
credit is threatened, nor did be tell .
how this bill could relieve Us from
burdens Of taxation"
In Foreign Countries.
In conclusion. Mr.. Teller reviewed u
monetary conditions in foreign c0u
tries. and declared this was not a sal
time to effect a change in our mon
taTy system. Notwithstanding the s.
called prosperous condition of the cou
try. there was a serious money pan
in New York which forced the seer
tary Of the treasury to purchase abb
so. 100000 Of United States bonds.
addition to that. the secretary had p
into national banks throughout q
country about S120 900 600. in order
maintain the financial equilibrium
"A financial condition, declared u
Teller, which requires to be bolster
up by the treasury department is 1
condition"
Mr.. Teller thought it Unwise to
experimenting in our finances when
were very well off at present.
Mr.. Chandler of New Hampshire D
terrupted Mr.. Teller to say that o
question which seemed TO make c
adoption or rejection CT the pending b
q moral qudJei0n was the probable
strUotion Of values in silyer-usl
countries.
Crime Of 1878.
81 have never said" continued u
/ Chandler. much about the crime
/ 1873 because I have been inclined
think the decentralization of silver IN
was accidental and not Intentional; D
/ the reduction by England and
1 United states OF the values Of the
yer hUards Of India and the OileH