The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-03-24
special to the REcoRD-UNIox.

Special TO the RECoRD-UNIoN.
WASHINGTON, March 23.-The chances
Tor compromise on the silver question
in the House by substituting bill provid-
ing for an International Monetary Con-
gress, are now admitted to be very slight,
and the advocates of such action concede
a clear majority to the free-coinage bill
when vote is reached. The opponents
of the bill at the conclusion of the debate
viii move to recommit the bill to the
Coinage Committee. IL is believed the
motion is the strongest move the bilIs
opponents can make, as it will receive
the support of many members who will
otherwise feel compelled to support The
measure.
The galleries of the House were again
crowded. Chairman Bland opened the
debate by giving notice that at 2 O'Clock
tomorrow ne will demand the previous
question on the silver bill.
Pierce of Tennessee then spoke favor
ing the measure.
Pierce said: ''In this discussion of the
pending measure, if [ did not believe
that the unlimited coinage of silver is for
The best interests OF the people of the
whole country, / should not so warmly
support the measure. 1t is only by GO
ing back to The past upon this question Of
binetallispi that we can properly under
tand this great question-for the ques-
non of to-day is whether we shall have
Dimetallism or recommendation. Going
back to 1916. and beginning with the ac-
lion of the great nations of the world
apon the question, we find that great, in
Ssustrial England was prosperous and
happy until she struck down silver and
discarded it as one of her coin metals. The
voice of labor was then, as now, I'M
:leeded. The result was that the next
three years witnessed a period of depreS-
sion, distress and suffering that had hith-
-rto been unknown in Great Britain.
his IS matter of history and cannot be
controversial"
Continuing, the gentleman showed that
atter the expansion of currency resulting
rom the discovery of gold in California
md Australia in lS40 and 1880 that labor
N every commercial nation. affected by
this expansion advanced ID per cent. The
spirit dominant to-day among the tinan-
ciers and capitalists throughout the
world is that the scarcity of money is
thing to be desired. 1t has not been
many decades since Chevalier of France
laughed at the overproduction of gold,
along in the fifties, and made it wise to
adopt recommendation with silver and not
gold as the standard. Germany in 1857
accepted the teachings of CheyaIier de-
monetizing gold and established single
silver standard. Why? Simply because
lhey thought that they were going to
rave too much money in two metals.
The limitation of currency, the scarcity
q money, was what the tlnanciers all
wanted.
not be molested; that gold is the only
sacred metal; that gold is king. What is
1t that gave gold the position il occupies?
legislation, and it is only by legislation
hat the great wrong can be righted.
Applause.l Up TO the time of the de-
monetiZation of silver in 1873, the silver
dollar was never worth less than 100
cents. When demonetized it was at that
limo at premium of 3t. Why did they
demonetize 1t then? The same spirit of
ayarice and greed that struck it down in
England dominated this country and
silver was murdered at the instgation of
the great banking and financial interests
of the country, and the agricultural and
laboring people from that time to this
have been paying the profits in their
sweat and toll" applause
There are gentlemen of New Eng
land" said Pierce, who say if we pass
the free silver bill New England will
send an unbroken body of Republican
representatives to this hall and that they
VIII give us the force bill. / say TO you.
gentlemen from New England, that we
Democrats Of the South and West meas
ire our action by the Democratic rule,
and Thomas Jefferson having said that
rhe cardinal principle of Democracy WAS
Submission to the will of the majority.
fairly expressed. we, when the majority
speaks, bow TO it and support the nomi-
nee and platform that the majority pre-
sents. That is our kind of Democracy
Applause.
Pierce spoke of clouds of gloom that
hovered over the South when the force
LOG IntKcy Il 80 ~
Republican Senate; when the press in
formed them that President Harrison
bad pledged himself to use his official in
iiuence TO carry through that measure.
But, said Pierce, the clouds began to
break away, and through the drifts we
saw grand, glorious, brave, patriotic Re-
publican Senators OF the West standing
between their party and the liberties OF
Ihe people. BY their votes the force bill
was defeated, and / say to you, gentle
men from New England, that the same
men stand there to-day as bulwark be-
tween the Republican party and the in
terests of the people, With this reliance
4@e do not fear the force bill, and demand
that this House give to the people the full
measure Of redress for the wrongs done
N 1875" lLoud applause on Democratic
side.
Stone of Pennsylvania denounced the
pending bill as not bill for the free coin
age of gold and silver, but bill for the
unlimited issue OF paper money. He had
& suspicion that the bill is an heirloom in
he Bland family. lLaughter.l
In reading the history Of his country he
discovered that one Richard Bland was a
leading member of the House of Bur-
gssSes OF irginia. Like his distinguished
aameSake OF to-day, he seemed to labor
under the idea that the economic and
financial system of his days needed tink-
ering with. lLaughter.] In those days
he currency of Virginia was tobacco,
ogsheadis Of $50 pounds. Laughter.
he Inconvenience of carrying around
he legal tender of the day naturally
aroused desire to devise a more con-
venient system of currency. This desire
look shape in the BLAND bin of 49,
Laughter. This bill is almost a counter
art of the bill OF to-day. It provided
1or tho establishment of Government
warehouses and the appointment of Gov
eminent inspectors In charge
The Bland bill OF to-day provides for
Tho use OF Minis already erected. The
ell OF AS provided for the deposit of any
mount OF tobacco, by any person. and
the issue of tobacco notes" therefor. TO
BE accepted SIS legal tender and receivable
TOR the debts and dues ofthe Government,
The bill OF to-day provides for the de-
posit of silver bullion, whether owned
0y the inhabitants of England, Africa or
america, and the issue therefor of notes
IS legal tender, receivable for the debts
and dues Of the Government.
This bill is not bin for the free and
unlimited coinage of silver, but bill for
ne unlimited purchase OF silver bullion
here were nine bills before the commit
tee that did provide tor free coinage, but
all We're laid aside and this bill reported
in their stead. The effect of this bill, by
repeating the Act of two years ago, would
be To restore the Act of 1873.
Does the gentleman take the posi-
ton" inquired Bland, that the repeal