The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-03
| Speeches i'm Congress Show He Favors
settlement of Government Debts
in White Metal.
HIS PUBLIC UTTERANCES
EXTRACTS FROM THE OFFICIAL
RECORD OF CONGRESS.
The Amendment Proposed by the Ne
braskan to the Gold Bond Bill
and His Remarks.

WASHINGTON, Sept. Eff Mr. Bryan
of 1900 will not answer the direct question
put to him by the representative of New
York newspaper as to whether he would,
if elected direct his Secretary of the
Treasury to meet government coin obliga-
tons by silver payment, Mr.. Bryan of 1895,
according to the Congressional Record. will
do so unequivocally." said Representative
Loudenslager, in charge of the Eastern
headquarters of the Republican congress
sional committee.
Secretary Gage. in his interview, said:
There is no doubt Mr.. Bryan could order
his Secretary of the Treasury to make pay
ments in silver of all the public debt pay
able in coin and for all current disburse-
ments of the government as we'll. which
amount to s1.5O0.O00 to $1,75O,O0O per day.
That he would give such an order, too, Is
certain, if he is in the same mind ne was
in 1896. Mr.. Gage then quoted one of Mr..
Bryan's speeches of the campaign of 1896
TO the effect that If he were elected he
would get rid of the gold standard as soon
as possible.
This is strong evidence. but there is
still stronger. not given in the heat of a
campaign, but stated deliberately and dis
rassionately on the floor of the House in a
set speech of the last session of the Fifty
third Congress in 1895. The gold per cent.
bond bill was under consideration. Mr..
Bryan speaking to an amendment offered
by him, said:
~ offered an amendment which reaf-
firmed the Matthews resolution declaring
all coin bonds payable in gold or silver, and
yet less than twenty q think only thirteen)
Republicans voted for my amendment. The
great majority of the Republicans thus de-
clared that coin bonds are gold bonds i'm fact.
If coin bonds are really gold bonds there is
less reason for agitation about the use of
the word gold in the bond. We who believe
that greenbacks and treasury notes are re-
deemable either in gold or silver at the OPP
ton of the government-we who believe in
the right of the government to redeem its
coin bonds in either gold or silver-we L
say. can object to gold bonds as violent
change in our monetary policy, but those
who insist that greenbacks, treasury notes,
or coin bonds are all payable in gold on
demand have far less reason to criticise
the President
This is found in the Congressional Rec
ord. Page 2S7, Fifty-third Congress. The
Matthews resolution, to which Mr.. Bryan
referred, was a concurrent resolution of
the Forty-fifth Congress QS7S). offered in
the Senate by Senator Stanley Matthews. 1t
had not the force or effect of law, was but
an expression Of the sense of that Congress,
yet it has served the purpose of placing
the word coin into bond contracts, and
making their payment in gold or silver, at
the option of the government, and has had
it's influence upon subsequent Congresses
m no n OF f1lTf n
"And now we are told by Secretary Gage
that, Notwithstanding we have the gold
standard, Mr. Bryan could, if he chose,
make silver payments to meet coin Obliga-
tions,' and that he would do so is clearly
evidenced by his attempt to enact into law
the Matthews resolution, and by his re-
marks thereon, which L have quoted. He
could reasonably argue that the Matthews
resolution, though never placed upon the
statute books, and, therefore, never having
been repealed, expressed the sense of not
only the Congress that passed it, but of
subsequent Congresses and of numerous
secretaries of the treasury, and that in the
absence of any expressed prohibition
against silver payments he will be guided
by it,
MIR. Bryan's amendment. to the gold
bond bill, both of which were defeated, is
as follows:
Provided, That nothing herein shall be
construed as surrendering the right of the
government of the United States to pay all
coin bonds outstanding in gold silver
coin. at the option of the government, as
declared by the following resolution adopt
ed in 1878 by the Senate and House, to wit
=" That all bonds of the United States is
sued, or authorized to be issued, under said
act of Congress hereinbefore recited are
payable, principal and interest. at the OPP
ton of the government OF the United
States, in silver dollars of the coinage of
the United States containing 41212 grains
each of standard silver; and that to restore
to its coinage such silver coins as legal
in nf -nid hon ,rfv, ci,.
and interest, is not in violation of the pub
lie faith. nor in derogation of the rights of
the public creditor
THUS does the record of 1895 break the
silence of Mr.. Bryan at this time, and con-
firms Secretary Cages statement that Mr.
Bryan has the power, and would exercise It,
to place the country on a silver basis in
the event of his election