The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-07
A SILVER CHAMPION.


Would BE Benefited by Free Coinage.
At the close of Senator Morrilrs speech.
which occupied about an hour and halfin
its delivery, Mr.. Teller took the floor and
called attention to the fact that the Sena-
tor from Vermont, as well as the President
of the United States. in his annual message.
treated the SILVER bill of July IL, 1890. as
the work of the bimetallists in Congress.
He Mr.. Tellerl denied that assertion. The
bill. he said, was not the work or the prod
net of the silver people. but the product Of
q committee that had been known TO be for
many years deadly hostile to bimetallism.
Ee knew that the Senator from Vermont
claimed 20 be a bimetallist as the Presi-
dent also claimed to be. but they were BIZ
metallists of the character that was always
satisfied with being SO in words and never
in act.
After quoting a sentence from the Presi-
dents message to the effect that the bill
had been expected to bring the price of
silver mp to s1.29 per ounce, Mr.. Teller
challeged the executive for proof of that
statement. and asserted that only one Sem
ator lalluding to Mr.. Jones of Nevada had
intlmated that the act of 1890 would bring
silver mp 20 par. On the other hand. more
than twenty Senators had asserted that 10
would not bring silver TO par. he had de-
clared when that bill was under discussion
that 1T was not silver bill. and that it
was not acceptable to the silver people. It
would not do to say that that legislation
had been put upon the statute book by sill
YER people. IL disaster came. as IL would
come If that policy was persisted in, it
would have 10 be laid at the door of the
men who had for fifteen years steadily re-
sisted the general public dem and for the
use OF silver on equal terms with gold.
Rrxf hAr h. "A
ton coming from the executive. What
was itf 1t was that the United States
should accumulate all the gold of the
world, and that then the money centers of
Europe would say that the United States,
having got all the gold. they would joan
the United States in the work of using
silver money. Coming as it did from the
executive of the Nation, he Mr.. Teller
whatever he might think or feel. How was
the United States to accumulate the gold
of the worldf Even when this country
had an abundance of crops. and was enjoy
country at the rate of million dollars a
day. The United States was
more than two thousand million
millions-the Senator from Nevada SIR.
Stewart said. More than two thousand
millions certainly-to be conservative.
How was the United States to get Europe
herei He wished some friend of the new
method would tell the Senate how to get
the gold from Europe. He would like to
see IL coming at the rate of s.. Cox. 900 day.
other method by which the inevitable
should be delayed when by law the two
metals would be put together. or else the
use of silver be absolutely abandoned ex-
cept for subsidiary coin. What the silver
men wanted was to have the two metals
put together, tied together by law so that
they would be on an equality at q ratio to
be established.
BANKER sELIGMAN's TRIP.
Mr.. Teller referred to the fact of the
President having sent a New York banker
mr.. Seligmanl to Berlin In connection
with the silver question, and said that he
supposed that that was delightful way of
giving somebody a trip TO Europe at the
expense of the government. Certainly all
the benefit to be derived from il would be
by the individual whose expenses were
paid. The President had not selected for
that trip prominent silver man. He Mr..
Tellerl could name twenty men In public
life who could have gone 10 Europe and
made report that would have been of
value; but no such report would be got
from the bankers or monometallists He
entered protest against the declaration
of the executive and OF the Senator from
cFInOut t0aL the clifcT men Wefo1espOnSl-
BILE for the legislation of 1890. lie himself
had declared that he would vote for il with
extreme reluctance; that he would vote fo-
1t because he believed that il would revive
dropping industries; would stimulate bust
ness. and would bring hope and courage TO
the people of the United States. lie did
not Tote for IL because IL was q silver bill,
for IL was not.
certain public man who had not yet
taken his seat IN the Senate meaning Mr..
Hill. of New York. had announced that
the act of July, 1890. had 10 be repealed. but
be Mr.. Teller asserted that il would not
be repealed. There was no considerable
number of public men in the country who
would dare TO repeal il. liz might be re-
pealed II the same amount of money was
gwen TO the people; and that could only bs
done by free coinage or by an unlimited
Issue Of money at the option of the govern
ment The latter would never take place.
and SO the act of July. 1890. would not be
repealed. IL was on the statute book %
| stay-fraught with all the dangers that at
tended it-and he admitted that those
dangers were great His friends on the
/ other side of the chamber had not voted
for the bill. although they were silver men
| and although twenty-five OF them had
voted with him for free coinage. They
had not been willing 10 take the risk. But
| he had taken the risk. which he was not
| then insensible of he was not now.
There was now S4ee. DOC. 600 of silver IN the
| country practically IN use as money; and
every year added TO 10 54.OOC.O0o ounces
| In ten years there would be n thousand
millions of silver In the Golfers OF the gov