Evening journal., 1892-06-01
IN SENATE AND HOUSE.
Mr. sherman Makes Great speech on
the silver Question.

the ctiNef question:
WASHINGTON, June l-Mr Sherman's
great speech on silver was delivered IN
most effective manner without notes, and
was listened to by an attentive senate and
by well filed galleries. Many OF the Dem
Ocratic senators gathered around the
speaker. Mr.. Sills took chair in the aisle,
the better to listen, observing which, Mr..
Eherman. who was beginning TO touch upon
the benefits which protection had jointly
with honest money conferred on the coun-
try, suddenly stopped and laughingly re-
marked that as he saw the senator from
Texas (Air. Mills preparing to follow him
he would leave the merirs of protection to
be discussed in some more appropriate bill.
Mr.. Sherman said in part:
II do not regard the bill for the free
coinage of silver as partisan measure or q
political measure on which parties are likely
to divide. Il is largely, in my opinion, a
local measurement exactly in the sense that
General Hancock said 1he tariff was--yet it
is largely local question, and at the same
time one of vast Importance. Five states
largely interested in the production Of silver,
very ably and zealously represented on this
floor, are united by their delegation Of ten
senators in favor OF the free coinage Of sill
yer. The south seems also to have got
something Of the spirit which actuates the
silver states, because they desire not exactly
free coinage but an expansion Of the cur
rency, cheaper money and broader credit.
They also are largely represented on this
floor and support proposition in favor OF
free coinage. So in other parts Of the coun-
try those who have been taught to believe
that the greatest good that can come to our
country is by an expansion Of the paper cur
rency, they also believe in the free coinage
Of silver.
II represent state nearly central in
population. have tested the sense Of the
people Of Ohio and they, believe, are by a
great majority not only Of the party to
which belong, but also OF the Democratic
party, opposed to the free coinage Of silver
| They believe it would degrade the money
Of our country, would decrease its purchas-
ing power nearly one-third, abolish the BIZ
metallic standard aud reduce us TO a single
monometallic standard Of silver measured
by the value Of 81 grains TO the dollar. In
support Of these demands for free coinage
these various interests say that under the
existing order of things we have hard
times.n
Taking up this argument Mr.. Sherman
controyerted il. He asserted that there
was no country IN the world IN such con-
dition Of prosperity and general health as
the United States. The cause Of the present
distress of the south was overproduction.
In reply to a question Of Mr.. Mcpherson
as to the effect OF the silver bullion purchas
ing law Of 1890, he said with impressive EN-
phasis, "There are possibilities IN the future
in regard to that law, miscalled the Sher
man law, which make me as anxious for ii
repeal as l was reluctant to pass it. In tue
absence of any provision for the sale O
silver if the price OF silver should continu'
TO decline, should be desirous as far as
could to arrest the further purchase Of bul
iOnn
Messrs. Morgan, Pugh, Teller and othe
silver advocates, as well as Mcpherson
raised a constant succession of question
upon the speaker, who had not concluded
when the senate adjourned.