San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1886-01-21
Reagan on the Silver Question.

WASHINGTON, January 12- The
House on motion of Reagan Of
Texas, went into committee on the
whole (Mr. Blount, of Georgia in the
chair) for consideration of the Presi-
dents message. Reagan took the
floor with long and carefully pre-,
pared speech upon the financial ques-
ton, advocating a double standard
of value, condemning the national
banking system, and arguing in favor
Of applying a portion of the surplus
in the treasury to the gradual pay
ment of the public debt. He earn
estly combatted proposition to sus-
pend the coming of the silver dollar,
maintaining that such course would
have the effect Of making a few more
millionaires and adding largely to
the army of tramps and paupers. He
ridiculed the dire prophesies which
were made by the advocates Of the
single standard as to the result of the
continued coinage of silver, and quo
ted from statistics to show that 80 far
from the prophesy made at the time
of the passage of the Bland act, that
the gold would pour out of the treas
ury, having been verified, the contra
ry was the truyh. It would be found,
he commended, that gold had been
coming in and silver had been going
out. He denounced the scheme for
the demonetization of silver as o
crime against right, decency, human
ity and civilization. It was the duty
of the Democratic party to protect
the people against this cunning and
wicked scheme of robbery. In order
to protect them, he would provide for
the free and unlimited coinage of sill
yer, and would issue silver certificates
on all deposits Of silver coin or bull
ton. He would then amend the spe-
Gle resumption act SO as to repeal the
reservation of the $100,000,0OO legal
tender notes, and would provide for
the reservation of $4,000, 900. He
would require the Secretary of the
Treasury to pay out silver as he does
gold and to pay out all above $780,
900, reserve and reduce the prin-
cipal of the public debt to that extent.
He would provide that no more ma
tional banks should be chartered and
that when the charters of those now
existing expired the circulation thus
called in should be replaced by theis-
sue of of United States treasury notes.
He profoundly regretted there should
be differences within the Democratic
party on the silver question. The
President, in his message, and the
Secretary of the Treasury, in his re-
port, had taken statesmanlike views
of many questions, but on this ques-
ton he could not agree with them.
He must follow the traditions and
principles of the democratic party,
and uphold the interests of the peo-
pie. The democratic party was now
on trial. The Republican party had
been turned out of power because it
had abandoned the people on all great
questions, such as tariff, interstate
commerce, and coinage of silver, and
had betrayed its trust to the money
powers. The Democratic party had
come into power because it had re-
sisted this course. Now leading Dem
ocrats were found asking that Demo
Gratis as party take upon this ques-
ton the very position that had led to
the downfall Of the Republican party.
Would It do this II il did,DemOcrats
ought to al join the Republican par
ty. for on the question there would
be no difference between the tEopar-
ties II It did, the Democratic party
ought 10 cease to exist Il had been
the party Of the people, resisting
monopoly al through its history and
defending and protecting the rights