San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1886-01-13
Reagan on the Silver Question.

WASHINGTON. January l2.-The House
then, on motion of Reagan, Of Texas,
went into committee of the whole (Mr.
Blount of Georgia, in the chair for con-
sideratiOn OF the Presidents message.
Reagan took the floor with long and
carefully prepared speech upon the
financial question, advocating q double
standard of value. cOndemning the ma
tionsl banking system, and arguing in
favor of applying portion OF the sur
plus in the treasury to the gradual pay
ment of the public debt. He earnestly
combatted proposition TO suspend the
coming Of the silver dollar, maintaining
that such course would have the effect
Of making few more nillionaires and
adding largely to the army of tramps
and paupeTs He ridiculed the dire
prOphesies which were made by the ad.
vocates of the single standard as to the
result of the continued coinage Of silver,
and quoted from statistics to show that
so far from the prophecy made at the
time Of the passage Of the Bland act,
that the gold would pour out of the
treasury, having been verified, the cou
trary was the truth. 1t would be found,
he commended, that gold had been com
ing in and silver had been going out
He denounced the sch me for the de.
mohetiZatiOn of silver as crime against
right. decency, humanity and ciNiliza-
ton. 1t was the duty Ofihe Democratic
party to protect the people against this
cunning and wicked scheme of robbery.
In order 10 protect them, he would pro-
vide for the free and Unlimited coinage
of silver, and would issue silver certifi-
Gates on all deposits of silver coin or
bullion. He would then amend the
specie resumption act so as to repeal the
reservation of the Sl00.000,000 legal ten
der notes, and would provide for the re-
servation of $4,000, 900. He would re-
quire the Secretary of the Treasury TO
pay out silver as he does gold and to pay
out ell above S5O,OOO,OOO r, serve and re-
duce the principal of the public debt to
that extent. He would provide that no
more national banks should be chartered
and that when the charters OF those now
existing expired the circulation thus
called in should be replaced by the issue
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 report, had taken states
manlike views Of many questions. but on
this question he could not agree with
them. He must follow the traditions
and principles Of the Democratic party,
and uphold the interests of the people.
The Democratic party was now on trial.
The Republican party had been
turned out of power because il
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 pow
ers. The Democratic party had come
into power because it had resisted this
course. Now leading Democrats were
found asking that Democrats as a party
take upon this question the very posi-
ton that had led TO the downfall of the
Republican party. Would it do this?
II it did, Democrats ought to all join the
Republican party, for on this question
there would be no difference between
the two parties If it did, the Demo-
cratic party ought to cease to exist. 1t
had been the party of the people, resist
ing monopoly all through its history and
defending and protecting the rights of
the people. II il should ever become q
defender Of monopolies and corporations
and money kings, as against the rights
Of the people, il would cease TO be the
Democratic party and the people would
have to look elsewhere for the guardian
ship, protection and defense Of their
rights