The state chronicle. [volume] (Raleigh, N.C.) 1891-1893, 1892-03-23

H..
A withdrawal of eighteen million dol
lars in about six weeks made the inter
est in New York city one per cent day.
The clearing house in New York with
its principles of issuing cheques might
cancel a million or five millions
tomorrow and nobody know it. |
France made a great mistake when |
she limited the coinage of silver, or
took any notice of demonetization by
Germany. The opponents Of this bill
were courting this very danger. The
exigencies have resulted in our de-
manding the repeal of the law of July,
1890. The government of the world
knew that the wealth and power OF
this country are determined to
demonetize silver entirely, and
we were driving them to it. Lom-
bard street and Wall street were twin
brothers. The restoration Of silver
here meant the restoration Of
everywhere. When you demonetized
silver in the world, even gold itself was
gone Gold and silver had been twin
brothers since the days of civilization
When yo. severed the ligature between
them, they were dead. The benefit
to be derived from this bill was that it
restored the old power of the two
metals and it preserved to this country
the standard Of money based upon both
metals. If our gold went abroad and
our silver remained here, we still would
have the same volume of money,
although of different metal.
At the conclusion of Mr.. Bland's
speech there was loud applause. He
was followed by Mr.. Williams, of
Massachusetts, who made the minority
report on the Bland bill for the anti
silver Democrats, presenting the oppo-
site view of the question, saying that
, this silver bill deliberately undertook
to deprecate its standard of value; the
fundamental error with free coinag9
advocates is that quantity in money
t was essentially more important thar
= quality and that money itself was o
= supreme Importance as compared will
credit
o He then submitted the report Of th
II minority of the committee, as al
j amendment, providing for an interna
e tional monetary conference. His re
I, marks were loudly applauded. Mr.
u Harter reviewed briefly the history @
} the silver question, contending that tn
'e Bland bill would contract and debaS
~ our currency. During the course
IA ~ his remarks, Mr.. Harter referred t
IA IL the free coinage men as ''people VIII
u, !, come here and take US by the back an
III shake us like this" illustrating b
IL point by grabbing Mr.. McKaig, {
Al Maryland, by the collar and shakin
"s him vigorously. Mr.. McKaig sho We
10, )stile intentions at first, but afte
Z" wards joined in the great outburst
''o laughter that continued for sever
ne minutes at his expense.
~ ~ Mr. Raynor, of Maryland, opposed t
:, measure and said that our present silv
49, dollar is dishonest The mine owne
MI compel the government to place the e'
ev blem of a dollar with the ensign of t
I'D republic upon seventy cents worth
ust bullion, wich is worse than counterfeit
did and is an artifce and trick upon t
be people. (Applause.)
his Mr.. Taylor, of Illinois, said ne spo
xe- to the only party that was opposed
lily the majority. and he admired the Den
nd cratic party for the facility with viii
to they had straddled both sides of the gu
vas ton. The Republican party stood as
re- advocate of sound money. Mr.. Hopk
u,a ',n (Repnblican) of Illinois. spoke agar
J.' the measure and said no greater Gala
'or ity would befall the country than
''es passage. He advocated the adopt
ms of the amendment of the gentlem
eo' from Massachusetts (Williams) for
Oh monetary conference. Eppes, (Den
-. > craft Of Virginia.. supported the me
lh's ure. Free coinage would make sill
40 worth as much as gold. He belie'
''"- in the ownership Of the American p
sup ple and we should be guided in t
'i"- question as to what other nati
~. might do.
nm MIR. CRAWFORD FAvORs Tue sILv
BILL.
ac. Mr.. Crawford, (Democrat) of No
ong Carolina, supported the bill.
an TRADE against the free coinage of sill
is came from the great monied cent
men of the country where vast and M
tain moth fortunes had been piled ul
,ney stocks and gold at the expense of
tent. laboring people Of the country.
,tion said Harter, of Ohio, must have ha
the night mare when he sent out his Gil
eces lar to the G. A. r. posts of
bich country. The silver dollar was eq
the to the gold dollar, not only here,
gold in every country in the civilized wo
was DeForest, (Democrat) of Connect
rise opposed the bill.
ober At $3.50 the House took re-
mt of until 1880 tonight.
Il