The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-03-24
The SILVER DEBATE
Pierce, of Tennessee, Champions
Free Coinage.
STONE DENoUNCEs THE BILL
He Characterized it as One for the Issue OF
Unlimited Paper-M oney-Patriotism
of Western Senators.

| WASHINGTON, March 23.-The chances
for compromise on the silver question in
the House by substituting the bill provid-
ing for an international monetary congress
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. Opponents of
the bill, at the conclusion of the debate,
WILL MOVE TO REcoMMIT THE BILL
to the coinage committee. 1t is believed
the motion is the strongest move the bills
opponents can make, as it will receive the
support Of many members who will other
wise feel compelled to support the measure
The galleries Of the House were crowded.
Chairman Bland opened tho debate by Civ.
ing notice that at2 O'clock tomorrow he
will demand the previous question on the
silver BILL
Pierce of Tennessee, then spoke, favor
ing the measure.
At2 O'Clock it was announced the COM
mlttee on rules had consented to bring in q
rule forcing vote Monday in case the 3D.
ponents fillibuster to- morrow.
Pierce said: lin discussing the pending
measure, if l did not believe the unlimited
coinage OF silver for the best interests of
the people of the whole country, l should
not SO warmly support the measure. 1t is
only by going back to the past on this
/ question of bimetallism we cen properly
understand the great question, for the
question of to-day is whether we shall
have
BIMETTALLIsM OR MoNoMETALLIsM
Going back to 1916, beginning with the
action of the great nations of the world
upon the question, we find great industrial
England prosperous and happy until she
struck down silver and discarded it as one
OF the coin metals. The voice of labor
then, as now, was UNDECIDED. The result
was the next three years witnessed a pc
Rod OF depression, distress and suffering
hitherto unknown In Great Britain. This
is matter OF history and cannot be con-
! troverteC."
Continuing, the gentleman showed after
+ the expansion of currency resulting from
the discovery of gold in California and
Australia in 1910 and 1850, labor in every
commercial nation was affected by this ex-
/ panslon and advanced 40 percent. The spirit
dominant to-day among finapciers and cap
ltalists throug houta the world is
A SCARCITY OF MONEY IS A THING TO BE DE-
SIRED.
It has not been many decades since Cheya-
lier, OF France, taught that the overpro-
! ductlon OF gold along in the fifties made il
wise TO adopt monometalism with silver
not gold, as the standard. Germany in 1857
accepted the teaching of Chevalier demone-
tizing gold and established the single silver
standard. Why! Simply because they
! thought they were going to have 100 much
money in the two metals. A Limitation of
the currency, scarcity of money, was what
the hnanclers and capitalists wanted Our
! opponents tell US gold must not be molested /:
that gold IS the only sacred mt tai; that gold
is king. What is il gave gold the position
1t occupies! Legislation. and it is only by
legislation
GREAT WRONG CAN BE RIGHTED.
! [Applause.] Up to the time of the de-
monetzation of silver in 1873, the silver
dollar never was worth less than 100 cents.
/ When demonetized it was at that time at a
premium of 3 1-2. Why did they demone-
tie it then! The same spirit of avarice
and greed that struck it down in England
dominated this country, and silver was
murdered in the interest of the great bank
Ing and financial interests of the country,
and agricultural and laboring people from
that time to this have been paying profits
in their sweat and toll. Applause
In concluding Pierce cited the speech of
Mills in the House IN support of free coin
| age, ana insisted the gen tleman from Texas
TO make his record consistent must support
the bill. Great applause greeted the clos
ing announcement of Pierce that whatever
! Williams, Harter, Hoar and other anti-free
coinage Democrats might do in the event of
the passage OF this bill the
DEMOCRATIC ADVOCATES OF FREE COINAGE
stood ready to support the nominee of the
| Democratic convention at Chicago whether
| the nl1tfOrD
"Ihose are the gentlemen of New Eng
land,' said Pierce, ''who say if we pass n
free silver bill New England will send an
unbroken body of Republican Representa-
tives to this hall and that they will give MS
a Force bill. say to you. gentlemen from
| New England, that we Democrats of the
south and west measure our action nv
Democratic rule, and Thomas jefferson
having said that the 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 nominee and platform that majority
presents. That is our kind of Democracy. ),
| Applause.
Pierce spike of the clouds of gloom that
lowered over the south when the force bill
passed the last House and went to the Re
publican Senate; and when the press in
formed them President Harrison had
pledged himself to use his official influence
TO carry through that measure. "But ),
said Pierce, ''the clouds began to break
away. and through the riffs we saw the
grand, glorious, brave, patriotic
SENATORS OF THE WEST
standing between their party and the lib-
critics of the people. BY their votes. the
force bill was defeated, and | saw to Won
gen tlemen from New England, that the
same men stand there to-day, as buIwark
betw the Republican party and the in
terests OF the people. With this reliance
we do not fear force bill, and demand
that this House give to the people tull
measure of redress for the wrongs done in
'73. Loud applause on the Democratic
side
| Mr.. Stone, of Pennsylvania. denounced
the pending bill as not bill for the free
coinage of gold and silver, but bill for the
unlimited issue OF paper money. He had a
suspicion the bill is an heirloom in the
Bland family. Laughter In reading the
history of his country he discovered on
| Regard Bland was leading member of the
house of burgesses of Virginia in 1S4S.
LiRe his distinguished namesake of to- dav
he seemed to labor under the idea the eco
nomic and financial system OF his dav
needed tinkering with. Laughter In
those days the currency OF Virginia was
tobacco, hogshead of $50 pounds. Laugh
ter. The inconvenience of carrvino
around the legal ender of the day natur
ally aroused desire to devise a more con-
venient system Of currency. This desire
took shape in
THE BLAND BILL OF AS.
Laughter. This bill was almost the
counterpart of the bill of to-day. 1t pro
viued for the establishment of government
warehouses and the appointment of gov
eminent inspectors in charge. The Bland