St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-25
SWEATEDOV YER
BANDS Bill for Free Coinage
Is Now on the Calendar Of
the House.
Hot Cross Firing and Solid
Argument Preceded the
Test Vote.
Speaker Crisp Saved the Bill
From EARLY Humiliation
by His Veto.
Opponents Of the Measure
Jubilant Over the Vic
tory Scored.

WASHINGTON, March 24.-Opponents
of free coinage are tired but jubilant
tonight. Mr.. Bland and his supporters
are downcast and more tired, but de-
termined, Withal, and not at all discour-
aged by the temporary delay of final
vote Oh their pet measure. 1t was after
midnight before the Missouri states
man saw 1t was hopeless to expect a
square vote on his measure, and moved
an adjournment, thus leaving his bill tC
go on the house calendar, which will
necessitate a new special order from the
committee on rules to again bring it tC
the front.
The last legislative day of the silver
debate opened with crowded galleries
and full attendance of members of the
house. The utmost diligence had been
exerted by the leaders of both sides
for the past three days to secure the
presence of every member who is not
absent from the city, and so we'll had
they succeeded in their efforts that only
the gentlemen who have been granted
leave by the house were absent today,
and these were SO equally divided upon
the question that neither side derived
any advantage from their nOn-attenu.
Rnce.
The Time Extended.
Immediately after the reading of the
journal, the period of general debate
was extended three hours by the an
nonncement of Mr.. Bland that he would
postpone the motion for the previous
cues ion until O'clock in order to give
opportunity for greater debate. Repre-
sentative Williams, of Illinois, a Demo
cratic member of the committee on coin
age, opened the debate in favor of the
bill | am in favor of sound currency,
said he. but one of sufficient volume to
conduct with ease all the exchanges
desired by the people. l believe that
the volume of our money should increase
as the volume of eXchangeable products
increases. The unit of value is a Great
uTe Of law, and the power of declaring
what shall constitute the unit of value
I'm the United States is vested in con-
gress alone. Applause. Gentlemen
talk about 80 cents fiat i'll the present
silver dollar. l reply that we are in
creasing our currency today with paper
dollars that have 100 cents of fiat.
sixty years to maintain the parity be-
tween gold and silver, say that the
United States with her $4,000, 900 of peo-
pie, with her vast resources, is able to
restore to the silver coin that confidence
of the people Which existed before this
government itself destroyed it.
If we are to use gold and silver as
money, he believed we should have
fixed ratio But that could never be
done while one was used as money and
the other as a commodity. The only
fixed value gold has is its coin value.
Its relative value changes just as often
as an over production or under produc-
ton of commodities changes its pur-
chasing value. In concluding, Mr..
Williams warned the Republicans that,
although the Democrats might be some
what divided upon this question, they
would be united in November in the
great issue-tarlff refOrm-and success
would again crown their efforts in the
next campaign. Applause.
Buorke COckran's Views.
In opening his speech in opposition to
She BILL Mr.. Cochran said that this
question was not a sectional one; it was
not question of the city against the
country, of the banker against the
farmer. ApplauSeL He was thank
full that the party to which he belonged
could contain IL its ranks all men who
believed in a constitutional system of
government drafted by our fathers,
however they might differ upon eco
nomic and other questions of minor
importance. The gentleman cOmpli-
meuted Chairman Bland's report and
the elCquence of his opening speech.
He had no patience with Mr.. Harter,
who had said: 81 credit him (Mr.
Bland) with gross ignorance as the
only excuse for his attitude"
Mr.. Cochran said that, while diSput-
ing the conclusions of Mr.. Bland. he
desired also to dispute the statement of
Mr.. Harter. If there had been ignor-
ance displayed upon this tloor,it had not
been displayed by the gentleman from
Missouri. Applause. Mr.. Cochran de-
sired to state, i'll opening, that he did
not believe in a mOnOmetallic system.
He did not believe a corporaPs guard
could be found in the house in favor of
monometallic standard in this coun-
try. History had always shown that,
when two metals were in circulation al
different values, the good metal was
always driven cut of circulation by the
bad. Strangers always brought in the
EUGdpCI
dearer metal, and shipped the gold away
to foreign climeS. He did not believe
that, if we had a silver standard, this
country would at once go into ruin; but
he did believe that, if we had silver
standard, and these two metals come
not at once to a parity, the man who re-
ceives his pay in the inferior metal for
pre-eXisting debt will be
SWindled by the Operation
of the government, just in the ratio OF
the depreciation of the value of the coin
which the law compels him to receive
The effect would be to create a distrust
of the commercial honor of the nation
which pays debts with bludgeon. APP
plause. What do you say" inter
Tupted Mr.. Bland, "of the law of 1878
that from that day to this has robbed
debtors and the people of this country
of the difference between gold and sill
ver?" Applause. THAT is question
which should be answered." said MI
Cochran, "but if the gentleman cannot
provide for an extension of my time ]
cannot stop to answer it," Laughter.
With all respect to the gentleman
from Missouri, Mr.. Cochran continued,
] desire to say that this bill does moi
provide for the coinage of gold and
silver as IL existed prior 10 1873. more
than that, say that it flies in the face
of the constitutional provisions which
are the basis of the platform and faith
of the Democratic party. 1t provides
for the launching of this country into
the banking business, making of the
treasury an influence which can upset
trade and commerce at the pleasure Of
the officials in charge of it. Applause.
1t proVideV for the deposit of bullion
and the issuing of treasury notes, which
will themselves be debased and de