The Indiana State sentinel., 1886-01-13
BECK'S SILVER SPEECH.
An Exhaustive Discussion Of One of the Vital
Questions Of the Period.
The Great Speech of Senator Beck, of Ken
t0eky, on the Silver Question, Deliv-
cred Recently in the United
States Senate.

before the Christmas recess. IL has at
tracted widespread attention because of the
general interest displayed by the members
of all parties on the silver question. The
country is looking with intense interest to
the action OF Congress in regard to this mat
ter.
The Senate proceeded to the consideration
of the following resolution, submitted by
Mr.. Beck on the 18th inst:
Whereas the laws OF the United States require
that all duties on imported goods shall be paid in
coin; and
Revised Statutes that sSrhe coin paid for duties
on imported goods shall be set apart as a special
fund, and shall be applied as follows: First, to
the payment in coin OF the interest on the bonds
and notes of the United States; second to the pur
IT d s,atS o per cent & OF tne entire & dept
cal year, which Is to be set apart as sinking
fund, and the interest of which shall in like man
public debt, as the Secretary Of the Treasury
shall, from time to time, direct third, the resi-
due to be paidinto the Treasury
Resolved That the Committee on Finance be
instructed to inquire whether the laws above
stated now are, or have heretofore, been obcyed:
and If they have not, TO report by bill, other
wise, such measures as will secure their enforce
ment
Mr. Beck-Mr. President, no man will
deny that the laws passed by Congress are as
imperative on the highest executive official
approve them or not. l venture to assert
that no man will contend that the laws re-
cited in the preamble TO the foregoing reso-
tiOn either are now or have for many years
past been Obeyed. Ali sorts of excuses may
be and have cen offered for their violation,
still the fact remains that the laws of the
land have been disregarded by our executive
officers, and the legislative power has been
subordinated to the will of men whose duty
it is to submit to them and to execute them
as they exist. They have no right to decide
whether law is good or bad, polite or inn
polite; so long as it is law they must be
compelled to render implicit obedience to it.
They have officially informed Congress for
years past that they neither require coin to be
paid for duties on imported goods, nor do they
set apart the coin or its equivalent so received
as a special fund to pay the interest on our
public debt, or to procure bonds for the sink
ing fund. On the contrary, they admit that
as the existing laws do not coincide with
their views of what is polite, they disregard
them. / deny their right to do so, because
] believe many of the evils the country is
now afflicted with grow out of the disregard
of the plainest provisions of law by our
Treasury officials. l have no faith in the
remedies which are now and have for past
years been proposed for the evils they allege
to exist. That the country is not as prosper
Gus as it ought to be | admit, but l insist
that the remedy is not to be found in strik-
ing down our silver coinage or the currency
based upon it, but rather IN requiring our
public creditors to take il as the law and the
contracts they required us to make demand.
do not propose to find fault with much
that is recommended by our executive Off
GERS; indeed, upon all questions except that
of coinage and the payment OF our public
debt heartily indorse what they advise.
No Secretary of the Treasury has ever, in my
opinion, expressed more enlightened views
in ri To rTrr n ia Y
alton than the present Secretary, and l as
sumo that he has but elaborated the views of
the President. No more intelligent and
statesmanlike message, taken as a whole, has
ever emanated from the Executive Mansion
since have taken part in public affairs; but
/ disagree with the, President and his officials
as to the management of our currency and
our coinage, and propose, respectfully but
plainly, to state the reason why. and TO point
out the remedy recommend as a substitute
for changes proposed in the message and Of
fciai reports.
believe that il can be demonstrated that
gold and silver coin. and the paper represent
atiyCs Of both, stand on an absolute equality
before tie law, and that three-tOurthS of our
present troubles grow ont of the refusal of
cur tficials 10 pay out the money received at
our custom houses TO our public creditors in
the manner and for the purposes prescribed
by the Jaws Of the United States. Therefore
simple IN the preamble; and in the reSOlu-
tiOn have asked the Committee on Finance
to tell the Senate whether they have been
executed or not, and ii not, to report meas
ures Which will secure their enforcement L
almit that even when this is done other COM
7 nations must be broken up before we can
gtcOme prosperous commercial people; bus
as all measures for tariff and tax reform must
ae originated at the other end OF the Capitol
/ am content to await the action taken there,
being confident that the Executive is in full
sympathy with all proper efforts in that re-
gard.
Tb,re can be no dispute az to the fact that
there must be something wrong in the man
agement Of public affairs when the ports OF
of great nations like Germany, France,
Austria and other countries are arbitrarily
closed against our cattle, hogs aud other
:. cd products. without. as the President tells
in his message, present prospect OF rea-
,,nable change" Ii is not healthy condi-
tion of things when wheat, hogs, and other
farm products, debarred from foreign mark
cts in retaliation because of our protective
tariff sell at home for prices which will bare
Iy pay the cost of production AS to them
certainly protection does not protect. The
great American agricultural industries,
which give employment to more than hall oil
the workers for wages. whose welfare is held
up (properly sol as the highest aim OF legIsia.
tion, and whose products constitute at least
so per cent. of our exports, receive no real
consideration here, and are not even ranked
=. nong the industries of the country over
= Aich Congress is asked or expected to throw
j. protecting arm.
These great interests are the un0rganiZed
sUuequipped, and therefore neglected militia
whose strength can not be brought TO beal
with half the efficiency of a single regiment
of thoroughly armed veterans fighting fol
special interests. This is illustrated here
and now by the zeal everywhere displayed
by the combinations of bankers and bond
holders and their able and well-paid press tc
maintain their bonds at premium OF "A pei
cent, or rather to increase that premium tc
80 or 40 per cent. at the expense of tho
already impoverisl ed masses of taxpayers
1t seems as thoug,1 it was thought to be the
duty OF Congress to see to it that the ricl
= should be made richer by making the poo
. poorer. Why should we be in hot haste ts
strike down our silver currency for fear OF q
fall in our outstanding bonds below "A PEI
cent premium? Have the representatives oil
the people any interest in maintaining. fal
less in Increasing, the premium on bonds
bearingf 4 per cent. interest beyond y
per cent, when we must soon be
come the purchasers Of them at any
premium, or else contract our cur
rency at ruinous rates by locking up in ths
H..