The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-14
GOLD BILL DEBATE
REACHES A CLIMAX
Allison and Jones Speak Up
on the Measure
TWO GREAT ADDRESSES
1lLLMAN FARKS OVER ALL
SONS ARGUMENT CAREFULLY.
JONES DECLAsES THE MEASURE VICIOUS
he Also States That it is UnwarJanted, Faslen-
ing the Gold Standard Uron the County
and Conferrirg Too Much Power
on National Banks.

Washington, Feb. 13.-The Financial
Ge5ate III the Senate reached its climax
today. Two great speeches, one in favor
Of the pending Senate substitute mea
sure, and the other in opposition TO it
We're delivered and both were listened to
ny Senators with close attention. The
hrst was delivered by Mr. Allison uowa)
the ranking member of the Finance Com
nnttee. He presented his answers to tho
points raised against the pending Senate
bllt. Mr.. Allison's explanation of tho
provisions Of the bill was frank and his
response to many pointed inquiries was
characteristically ketn and forccful Mr.
Jones, who declared that the b.ll was
vicious and unWarranted. comforting too
great power upon National banks and
fastening the country to Il gold currency
discussed the question from historical
ana phllos0phic viewpoint. His address
was replete with valuable information.
Tomorrow the Senate will begin Tin.
consideration of the bill ard amendment;
Under the ten minute rule.
y bill TO authorize the establishments
AT some point in North Carolina of
station for the investigation of problems
connected with marine fishery Interests;
of the middle and South Atlantic coast
was passed.
ALLISON SPEAKS FOR THE BILL.
The Financial Bill was then laid be,
fore the Senate. Mr.. Allison referred t.
the Senate substitute for the House Bill
and said there was no proposition to
change the existing currency-gold and
silver certificates, greenbackS. treasury
notes and national bank notes. Mr.
Allison beginning Il discussion of the
two bills, said he had not supposed until
he had heard the speeches delivered du
ring the past few days there was amy
doubt in the minds Of anybody that this
country was on u gold standard
Tie said that since the enactment OF
the law of 1878 there had not passed
current single dollar of any kind Of
United States money that wSS not on an
absolute party with the gold dollar. and
the pending measure is practically re-
enactmfnt Of the law of 1873. Il reitcra
ton OF the existing law. The present
bill makes the green5acks absolutely re
dcemable in gold coin. In no sense does
the bill provide for the elimination ~
greenbacks from our currency.
Mr.. Allison became involved in an
amusing colloQuy with Mr.. Tilman
IS CO
The South Carolina Senator inquired l.
Mr.. Allison had not supported Presidenf
Cleveland's efforts to secure the repeal
of the Sherman law in 1898.
Mr. Allison said he had assisted Mr.
Cleveland to that extent. but he had
taken occasion also to cr:ticise the Demo
cratic party for It's attitude on the money
question since.
TILLMAN ON CLEVELAND.
well. ] merely intprposed my r.,
marks" said Mr.. Tiliman in order to
get the Senator to absoIvp the Demo
cratic party from all responsibility for
Grover Cleveland. He never was
Democrat"
Il will absolve the Democratic party
from responsibility for Mr.. Cleveland,
! replied Mr.. Allison. suavely, and at the
same time l viii a5soIyc Mr. Cleveland
from responsibility for the Democratic
party. | know that he does not care To
accept such responsibility Uaushter)
MIR. Lindsay KY inquired whether
lin case there should be deficit the gold
: obtained from the sale of bonds under
The bill could he used TO pay current eN
q penses Of the Government.
Under the provisions of the Senate
substitute to which | am directing my
remarks" replied Mr.. Allison. these
: bonds for obtaining gold can only be
sold when the reserve falls below $50
10000: aud | want here and now to
cypress my firm conviction and belle
that i will, in the circumstances and
,sFRasr The provisions of this measure.
never be necessary to sell boads for that
lSiirpose.''
si But under the provisions Of this bill ="
persisted Mr.. Lindsay. will not the ulti
mate result be the retirement of the
greenhacks?"
Under this BILL replied Mr. Allison
The greenbackS cannot ls, retired
He said that if $346 000,00o of green
backs We're to be retired. I'm equal