The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-11

war continues England may soon become
| willing TO enlarge the metallic money oi
| the world through renewed negotiations
| for an international agreement. The
| Senator from Rhode Island says that il
is not intended to reject The idea of in
! tcrnational bi-metallism..
Why then not place an uneollivoca
pledge in this bill? The declaration IN
favor of gold is unwiSe both in a busi
ness and political sense. There is no need
Of this law. Therefore, let us r,eiteratf
the law of 1893 and not enact nponome
tallism in violation of the pledges Of the
Republican party Let the convention
TO be held in June next decide that cues
| ton.
1t is with sincere regret that / differ
so radically from my political associates
in this body. But my convictions Of duty
will not allow me TO do otherwise.
have not abandoned the faith Of the
fathers. | stand upon the ancient ways.
WOULD CUT MONEY SUPPLY.
Il want the double standard. so do
300, 600 600 of the people of this world
ri ours: while only two hundred millions
want the single gold standard. We want
the real money of the world to be eight
billions Of dollars in coin. They want il
to be only four billions Of dollars. The
difference means injustice. injury, sui
fering and distress to millions Of Gods
poor people the world over; while the
gold class is to wax fat at the cost of
their helpless victims.
The gifted Senator from New York
lAIr. Depewl is said to have designed
for the Republican party a new campaign
motto for 1900: Gold and Glory. The
ALTERATION is pleasing.
at will look finely on gilded ban
ners, and will doubtless lead to victory.
But if the word gold means gold mono
metalliSm it will be necessary for the
golden ngued orators Of the party TO
eXpatiate with marvellous eloquence over
the glory of the flag coming from the
war with Spain, in order TO overcome
the many evil effects at the polls in No
vember Of the deep dannaIion OF the
destruction by legislation of half the
metallic money Of the nations Of the
earth Mr. President. thou canst not
say | did it,
WHY WE ARE PROSPERING.
At the conclusion of Mr.. Chambers
speech Mr. Chiffon tTexas) addressed
the Senate in opposition TO the pending
measure, which he declared represented
the policy of the Republican admins
tration. He urged that the main object
of the bill was to refund the entire ma
tional debt in long time gold bonds. This
would insure perpetmty to the national
banks and afford them 4 greater money
monopoly even than they possessed now
Ii would likewise destroy all prospect Of
bi-metalliSm so far as the power Of the
Republican party could accomplish thai
result He regarded il was likely. thar
Il treasury ruling would be made after
the passage Of the pending bill provid-
ing that silver dollars and silver Ger
tifcates should he made redeemable i'll
gold
Mr.. Chiffon maintained that the au-
thOrity for the issuance Of all bonds be
vested in Congress. In conclusion he
said:
Coed prices which have come to the
cotton raised and the wheat raiser by
short crops and the gold discoveries Of
the last few years cannot last when
the mines have failed and good crops
come again. Such prosperity as we see
has followed the course Of nature, has
demonstrated the correctness of the
Democratic party that a greater money
supply was needed to end hard times anu
has not been scattered from the imperial
chariot of the Republican party, as the
bounties OF its progress.
THE PARTY FAITHLESS.
Mr. Money Miss. declared his BELIEF
that if the production of gold should
increase III the next five years as It
had increased in the last five there would
be a demand for the characterization of
gold and the reconciliation of silver.
Adverting to the introduction Of the
Finance Committees amendment relaI-
ing to the continued efforts in favor o.
international bimetalliSm Mr. Money
said:
II do not know where the demand for
the adoption Of this amendment came
from. Has the Chairman of the FINANCE
Committee had his ear to the ground and
heard the rumbingS in the West against
the pending bill or has it again been
proposed TO delnde the people in the
view OF the fact that this is a prcsi-
Dental campaign year. The fact is the
Republican party is absolutely faithless
uron this money question. That Is per
fectly evident
In conclusion Mr.. Money said he never
had more sincere conviction than thar
no greater calamity could come upon the
people than failure to restore to the
people the money of the constitution.
This question is to be solved by the
money power of the world" said he, cor
by the labor and industry Of the world
and may God help the right in this
cause
The Senate then at 1916 p. IN. adj
1