Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1893-09-06
SHERMAN ON SILVER.
The Ohio Senator's Address on the Repoa
Bill.

the largest gallery audiences that has
assembled in the Senate chamber dur
ing the present session listened to SEN
ator Sherman's speech yesterday after
noon on the repeal bill He discussed
the whole financial question on the plane
OF craftsmanship, and he set forth
with emphasis the story Of the
Sherman act. He also broad
ened the discussion as to the
causes of the present disturbance by
taking rapid glance at the fiscal affairs
Of the world. His argument for repeal
was not weakened by his tracing back
the causes of the present condition be-
yond and independent of the silver
purchase law His speech all the way
through was remarkable one. 1t made
deep impression on the Senate, and
that impression is likely to be lasting
one. He said in substance
On one thing Congress and the people
were agreed, and that was that both gold
and silver should be continued in use as
money. MOnOmetalism pure and simple
| had never gained fOOthOld in the United
States. If senators wanted cheap money
and an advance in prices free coinage Of sill
yer was the way to do it; but they should
not call it bimetalism. [ am not in favor
of the free coinage of silver, and regard it as
but another name for .the mOnometaism of
silver, and was only in favor of the pur-
chase OF silver for purposes of coming. The
President had set forth the decline in the
value of silver, but had failed to give the
causes of that decline. Had he taken a
| broader view of the causes of that de-
cline he could have explained that
it was due to the fact that we were called
upon to pay our debts in gold. For the
first time also in number of years the bal
ance Of trade was against us and we had to
make the difference good. | believe in
giving the devil his due" and am ready to
stand by the Sherman law, not as a measure
in which took any special pride, for [ was
compelled to yield in order to prevent dis
astrous legislation. But without this law
what would the country have done i'll
1891 and 1892 had it been called
upon then to meet the difficulties
now staggering us? | am not a
new convert to the repeal Of the
bill to suspend the operations Of the law.
! 1t was wordcd almost exactly like that of
Mr.. VOORHEES,. Why did not the Democra-
| tic senators then see the dangers they now
| see and come to the help Of the Republicans
VIXEN they sought to suspend the law?
Not Democratic vote was had then and
| Democrats must answer why. This IS a
currency famine not the fear that the
money of the country is not good, and the
! people should not be deceived as to the rea-
sons for the repeal. The law was denounced
! by the Democratic party a miserable
makeshitt. 1t was makeshitt and a good
one intended to prevent the ills growing
| out of the free coinage of silver.
The Democratic party Is now charged
| with a great responsibility, and | warn them
that If they attempt to alter the existing
tariff laws they will plunge the country into
deeper distress than now exists. Taking it
for granted that the Sherman law would be
repealed, what Of the future? While not
thn INyISn of hn 10 I
entitled to give my opinion as an American
| citizen. First of all we must preserve in
tact the parity of all our money. 1t might
be necessary to issue our securities to
secure gold to maintain this parity,
| the only way by which we can sum-
marily secure gold. The balance of trade
may be against us again next yeal,
and if such a condition should arise
the secretary of the treasury ought to have
the authority to make the deficit good All
parties have heretofore given the secretaries
this authority. The expectation Of Ameri-
can product ought to be encouraged by leg
islation. The surplus in the treasury, if
there is one-and l suppose there Is, tor
Democratic senator's say so-should be
coined and used for all legal purposes. l
do not believe in buying silver from our
own people and making profit out of the
proceeding. If tits profit it is an intrigue,
if not profit it is fraud. | believe it a
fraud.
Mr.. Sherman denied Mr.. Voorhees,
statement that the act of 1873 was q
stealthy demonstration. Mr.. Noor-
bees declared that nothing could be
farther from his purpose and intention
than to say an unkind OF diSreSpectful
word about the senator from Ohio.
That senator was not in his mind vt all
when he uttered those words hut as
they were disagreeable or offensive to
him he expressed his regret at having
uttered them and declared himself in
capable of infiicting afront unprovoked
on any gentleman III the Senate or else
where. Mr.. Sherman continued his
speech, saying:
do not desire to say anything more on
the matter, being entirely satisfied that
what the Senator from Indiana had said
was due to his eXuberant elOQuence
Laughter intend now to produce the
public record and make the act Of 1873
plain and clear, and to show that the whole
proceeding was free from corruption and
was honorable to Congress. And hereafter
he added in angry and excited tonesl when
any man makes that imputation will sinh
ply say that it is a falsehOOd; and brand it
so now and then. There has never been
any bill freer from any immoral or wrong
influence than the act Of 1878; and to say
that it was passed surreptitiously is false
hood and lie, by whoever uttered.
Mr.. Sherman devoted some time to
an exposure of the falsehood Of a letter
written by some one who avowed him.
self an Anarchist, and who protested to
repeat a statement supposed to have
been made to HIM by Ernst Seyd as to
his having bribed Congress to pass the
! law Of 1873. He declared that Mr.. Seyd
was as extreme bimetallist a5 any man
within the sound Of his voice, and that
the statement Of the obscure Anarchist
was lie made out Of whole cloth. He
! continued:
boldly avowed my connection with the
| legislation of 1878, and say [alluding taunt-
ingiy to Mr. Stewart, ofNevadal that | would
not plead the baby act The senator from
| Nevada, representing as he did state Of
So, 600 intelligent, active, industrious peO
pie interested in the mining of silver and
! gold ought to have known at that time
whether the dear ''dollar of the daddy" was
dead and gone or not Permit me to quote
from speech made by Mr.. Stewart III the
Senate in 1S73-74 these words: 81 want the
standard gold, and no paper money that is
not redeemablein gold. By this process we