The herald., 1893-08-26

"a 40 per cent. In three years since thu
passage of the Sherman act it has faller
25 per cent. The speaker continued
stating the president called congress in
extra session for the sole purpose of re,
pealing the purchasing clause Of the
Sherman act. Would congress refuse to
comply with this universal demand till
an agreement has been made to do
something else on some other matter ?
It was just as reasonable to demand q
tariff bill be included in the bill, for re-
monetization of silver in this country at
the rate of 16 to l would either bring
the nation down to a silver stand
ard or advance the price of silver bull
lion to the coinage value of the silver
dollar. II the former it would result in
financial crisis compared with which
the present depression would be as
zephyr to Cyclone. Hundreds OF mil
lions of foreign capital invested in this
country would be withdrawn, our credit
destroyed and we would sink to the con-
dition OF Mexico. India or China, and
we would be thrown out OF harmony
with tae great commercial powers which
buy nearly $800,000.0 900 worth of our
products. There is no ground for the
declaration that unless free coinage is
incorporated in this measure, silver will
be deserted alike by congress and the
president. The presidents record lie
not such as to justify the belief that he
will prove false to his pledges. The
speaker believed the president and
senate alike would join in keeping the
pledges to the people OF such measure
for the use OF silver as will justify the
expectations OF the American people.
@f I-1s T.
lism.
Breckenridge of Arkansas referred to
the existing stringency and the alarm
repeal of the purchasing clause OF the
Sherman act.
McRae believed the parity of gold and |
silver could be maintained by iudicious |
and attributed the present |
depression to the evils of the Mckinley
tariff law.
Dolliver advocated the Wilson bill.
Under the present circumstances he |
would not dare vote for any experiment, |
such as is proposed in Bland's amend |
ment, but he did not believe the Sher- |
man act the cause of the trouble now
around US. He assigned that trouble to |
distrust in industrial minds that under
Democratic rule an industrial revolution |
was at hand. While he had little conf !
dence in she remedy proposed, he was |
not willing to deprive the business COM |
munity of such consolation as might |
come to US from the application OF the
faith cure. [Applause.
Sipe favored repeal, and Richardson
of Tennessee advocated free coinage at
my ratio.
Simpson of Kansas asked unanimous
consent for the consideration of the res
,lution authorizing the speaker to ap-
,oint committee of five members to
investigate the allegation that certain
,anks were not paying their checks, and
o inquire into the conduct of Secretary
)arlisle and Comptroller Eckels in the
PREMISES.
The speaker then ruled the resolution
lot in order, and the house took recess
lntil 8o'clock.
Debate on the silver question will close
q the house tomorrow.
EVENING SESSION.
at the evening session of the house
1erman OF Oregon, Rep, spoke against
he Wilson bill and in favor of the free
oinage of silver, and Branch of North
,arolina, Dem., followed in the same
inc.
McKeighan of Nebraska, Ind, and
)oolittle OF Washington, Rep, approved
hefWileon bill.
HUNK Of ohiS, rSop., uuvuUut5u Dl-
netallism and charged the present de-
'ression upon the Democratic party for
ts attitude on the tariff.
Wagner of Pennsylvania, Rep, spoke
q favor OF repeal.
The house at IL o'clock adjourned.