The Mineral Argus

1886
Senator Beck Declares Himself

When we were expressing our views in an editorial in last week's issue of the Argus on the hostility of those high in authority against the silver dollar, and the influence of the money power on legislation, we were not aware that a grave and dignified senator was throwing hot shot into the very citadel of power, upon the same theme. Senator Beck, of Kentucky, an able, upright, courageous man, has stirred up the animals with a red-hot iron. A dispatch to the Pioneer-Press says: "The speech of Senator Beck in the Senate to-day made a decided sensation, and is regarded as a declaration of war against the financial policy of the administration. In the course of his remarks, he charged that the secretary of the treasury had deliberately violated the law; that he was administering the treasury in the especial interest of the national banks, and that he was also in the same interest discriminating against silver. The senator declared, with great earnestness of manner, that he would enforce fine and imprisonment upon any officer who would thus violate the law. Mr. Beck was so vehement in manner and so blunt in language that upon the conclusion of his remarks the senators upon both sides were too much surprised to make any response." Truth is so rare nowadays that even senators become paralyzed when they hear it.

Mr. Beck called up the resolution which had been previously offered by him, directing the committee on finance to inquire whether the officials of the United States had complied with the laws requiring that the coin paid for duties on imported goods should be set apart as a special fund and applied to the payment of the interest on United States bonds, etc. Mr. Beck spoke at considerable length on his resolution. He said:

The laws of the land were equally binding on the highest executive officer and the humblest citizen. Yet the laws to which his resolution referred had not for many years been complied with by the treasury officials. No more statesmanlike message has ever emanated from the executive mansion, in Mr. Beck's opinion, than Mr. Cleveland's first message, but he (Mr. Beck) did not agree with the position of that message regarding silver.

Three-fourths of our business troubles arose from the fact that the laws of the United States were not carried out by our executive officers. Combinations of bankers and bondholders, and their well-paid press were opposed to silver, and their present crusade against the metal was another evidence of the audacity of wealthy organizations which had always secured whatever they had demanded. There was no obligation existing in this country, national or municipal, that could not lawfully be paid in gold or silver coin of the United States. The bondholders of the United States, he said, controlled enormous amounts of money and the best talent of the press, and having now captured the executive branch of the government they were clamoring for gold and gold alone in the settlement of their claims. How was the surplus silver to get out of the treasury if the secretary of the treasury would not call in the bonds that ought to be called in and pay out the silver? The people by their representatives, however, supported silver. No executive officer should be allowed to disregard the law. He would, if he could, take from the banks their political power and their influence on the currency, as shown when they received President Hayes veto on a memorable occasion.