The state herald., 1892-04-29
Mr.. TELLER SPEAKS ON SILVER.
He says Some Plain Things About the
fteistion Of Parties to FREQ ~,
Coinifsf -

In tho Senate on the Goth Senator Henry NJ.
Teller took occasion to address his fellow
members on the subject Of FREQ coinage Of sill
YER He spoke without notes and his words
received class attention In the Senate and In
tho gallery. He opened by debating that tho.
defeat Of .thc Republican party In 1900 was
due to the silver question rather than the
tariff question.
In view Of the fact that the Scriatc Ind
heretofore passed free coinage bill by votd
Of AZ to rs, he inquired what was the reason
that now the Senate showed sidh mn fndlspo-
sltion to repeat that action. In looking fdf
the reasons for their change Of attitude Mr..
Teller pointed out several influences that had
had weight:
First, he mentioned the influence Of tine es.
ecutive, Ms e1ertcd through the newspapers
and by the use Of federal patronage. The
Democrats Of the House, lie declared, were
afraid to pass the silver Bill! for fear Of losing
the electoral vote of New York. The bsrhers
of New York, .o3 had brought powerful pres
sage Of the bill.
~ know when the bill was before tho
House that kilograms from bankers, kilograms
from brokers, petitions from chambers Of
Commerce and boards III trade were piled in
npon the members, aid we were told that y
this legislation took place there would be dire
disaster when every one Of those petitioners
Knew that there was no probability Of the bilf
becoming law, when they knew they had In
the executive chair nov as they had during
the last administration h friend WIG would
brave public sentiment and the wishes md
wants OF the people to satisfy them"
The influence Of European countries, which
knew that II bimetallism wa. adopted In the
United States they would be compelled 70
abandon the solitary gold standard, had also
been brought to bear, and consolidated eapl:
tai had maintained lobby here which fnd
not hcch raralleled IN strength duting his
(Mr. Tcller's) public life
lie traced and ascribcd the low pviee of
wheat arising from the successful competition
Of India to the dcmonetizing OF silver by the
bn'tcd States IN 1874. The Indian shipper
could buy yhsa' III Bombay III sia0a bu,hs,
in silver, ship it to Engiaha 4, "A cents adds
tlonal, making sl.34, and sell 1t In the S.i.i-h
market at 20 cents In gold. The American
shipper, receiving the same price, found his
10 cents worth 90 cents and no more. The
Indian shipper, With his No cents IN gold could
buy an ounce and a third of silver. which he
could put Into rupees. at tl.3s an ounce and
thus his ounce and third Of silver would
yield him In the currency Of india, tf.s5 or
el.p0, and the l.s5 had the same purchasing
powe. IN India that It hod thirty or one hun
drcd years ago. Tie american shipper got
10 cents, the Indian shippers sl.S.
"We hear everywhere now the cry Of 'an
honest dollar That has been the shibboleth
OF our opponents. IN honest dollar, and they
assert that every man who Is In favor ef the
free coinage bf silver Is dishonest; that he Is
in favor OF cheap dollar, ;iiai hi Is rcpu,i-
iator Of the public faith. wha, Is the purpose
OF free co!nagci It Is TO make the bullion out
bf the silver dollar worth Just rs much as the
bullion In the siiscf atilar with the govern
mcnt stamp. The purpose, then, q shs free
silver people Is TO put silver bullion TO pat
But We are talked about Ms II We were In favor
rf taking 20 cent? worth OF bullion and max
Ing II into s. dcllat. When We have opened
our min,s, there viii bc no Ieren, bullion Ia
this country
Mr.. Teller took occasion TO deny the state
mcnis made some time ago that he and others
had made n trade with the supporters Of the
''force hilr' In the Interest Of the free coinage
bill.
~ now come" continued Nr. Teller, "to
the Republican party's attitude on lfis i,ies.
tion. Are we to be put on single gold stand
ard or are we To have another misleading
plank IN our platform which shall mean one
thing 6h the stump and another In executive
administration
~ say with much dciibcration, esfcsuliy
weighing my words and knowing the comment
they Will occasion, that II the Republican
party stands for the gold standard the few
silsrr Predicting states Of Colorado. Montana,
Nevada aud fdaho Will not hereafter be able
| to act in cooperation with the Rcputlicans I'M
this or any other body. Why should wei We
have local interests which are paramount
We supported the Mckinley bill, not because
II Was tur Interest 10 do so, for we are not
manufacturing states, but beeao.e ws be-
liescd the prosperity Of the whole nation was
bound up In this protective scale. We intend
40 10 stand In the future. We make no
threats, but we cannot continue 10 Insist upon
government, by party hostile to every local
interest we have. do not wish II 10 he IN.
ferred that the Democratic party would be
any more liberal to us than the Republicans
have been.
at Il true We have from that side many
supporters, but, like our own party, they are
IN the tolls ~ power they dare not defy. and
the danger Is that these two great political
parties, In their anxiety to control the State
Of New York, will neglect aud rcpudia,c the
interests Of the great masses Of the country
| and act alike on this silver question: