Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-09-02
BOURKE COCHRAN.
Ths New Yorker Speaks Strongly for Re-
peal and Against Bimetallism.

Ths New Yorker Speaks Strongly for Re-
peal and Against Bimetallism.
WASHINGTON, Aug. 2S.-At | o'clock
Mr., Bourke Cochran began addressing
the house. In opening he said that
after listening to the speech of the gen
tleman who had just taken his seat,
every one would admit that the argu-
ments in favor of the free coinage of
silver were picturesque rather than
convincing. He concurred with the
gentleman from Michigan that when
congress adjourned last March the
country was prosperous while now the
gaunt specter of starvation is stalk
ing abroad through the land. The rem
edy for this condition OF things ought
to be sought for free from the spirit of
partisanship. He could not agree with
the gentleman from Maine that these
periods Of depression were inseparable
from the advancement Of civilization
hut that each was due to specific
cause which might readily be discov-
cred. The democratic platform did not
declare for free coinage. An attempt
was made in the convention by del
egate from Colorado to commit the
party to that principle but failed
to secure ten votes on the floor of the
convention in support OF the PROPOSE
ton. "We are told" he went on, ''by
Colorado and Nevada that we are in
this matter departing from the plat
form. If that is the case why did those
states take to the woods in 1892? 1t
was because those states abandoned
the declarations of the democratic plat
form. The gentleman from Colorado
(Mr, Pence, who SO often entertained
his associates on the floor, was added
to the membership of the house."
Mr.. Cochran devoted himself to an
historical resume of financial legisla-
tion and asserted that there was no in
stance in the history of civilization
where gold and silver ever circulated
side by side on any ratio. 1t was
impossible that they should do so
and he detied the gentleman from
Missouri (Mr. Bland) to name an ex-
ception. The fluctuations of the values
of the two coins were sufficient to con-
stantly drive out the dearer metal, and
this was the inevtab BILE result. France
was compelled to import 5000, 600, 600 of
gold to maintain the parity of the sill
yer which she had coined. That was
what the United States would have to
do if it desired to maintain the parity
of the silver already coined.
Referring to the assertion in the re-
cent speech of the gentleman from Ne
braska (Mr. Bryan that silver was still
the basis of value of the farmers prod
ucts, Mr.. Cochran inquired 'if that be
SO why do you not give him the full
value of it? You would give the farmer
Blk grains of pure silver while I
should give him 6504 grains, Do these
gentlemen fear that silver will have
the same effect upon the human race as
alcohol; that while little of it is apt
to stimulate, too much will stupefy and
destroy? Laughter
The debasement of the coin proposed,
Mr.. Cochran said, would have the re-
suit of reducing debts As per cent. The
gentleman from Nebraska assumed that
the loss would fall on the banks. But
the fact was that in the very nature OF
things the banks and corporations
were the debtors of the country and
the workingmen We're the creditors.
Gentlemen" he went on, tell us
that gold has appreciated. | deny it.
The Aldrich report shows that never
before in the history of the world did
the laboring man of America receive sc
much in gold for his labor. Cheers.
But the gentleman from Nebraska and
the gentleman from Missouri propose
by their plans to make the bankers Of
New York alone a present of S2l, 900, 00t
in the settlement of accounts with theil
depositors and to deprive the laborine
man of As per cent of the value of his
work"
Mr. Bryan asked: "Will the gentle
man kindly state how, if his statement;
respecting the gentlemen from Missouri
and Nebraska are true, the banks o.
New York denounce us and T. " Pow
derly is with us?' Applause.
Mr.. Cochran replied: 81 will answer
1t is because the bankers of New Yorl
have learned that in business and pol
itics alike honesty is the best policy.
| Applause.
Continuing, Mr.. Cochran said tn,
trouble in this country was not due t.
lack of money, but to lack of redund
ancy of money. Money was not wealth
it was the machinery with which trad,
was worked.
Mr.. Cochran held that these period
of depression were without exception
due to an extension, either of the cur
rency of the country by legislation, o
of credit beyond the capacity of th
business interests to support. Tn
operations of the Sherman law, he said
proved the truth of the statement l
had increased the volume of currenc,
and now the stringency was upon tn
country. Mr.. Bland's proposition t.
give S71l5 grains of silver for 651l
would be called robbery if it related t.
wheat and corn, The farmer suffere'
most under the operation of the Sher
man law in the depreciation in tn
, prices which he had received for hi
products, and it was strange frien
of the farmer, the victim of the act
who desired continuance of the con
ditions under which he suffered.
Unemployed Typographers.
Il CHICAGO, Aug. 2s.-At the regula
meeting of the Chicago Typographica