The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-27

and enlist In the Populist brapch?. stand by
the Democratic platform. which deciares icr
iS9etsiism IN Tie f States s and in France
there never has oeen bimetallism In the sense
Mr. Cochran quoted from Locke and Mills to
show that both gold and silver aannot be. at
the same time, the measure OF value IN the
must he perpetual and inyariable; france vas
practically on gold basis, and we on nitsa
her T' mints to the Tree coinage Of silyer-in
order to maintain the value and parity on
silver AEa1,s Both sSla "nd the WIZ
son bill wanted the metal which had the mini n. !;
mum or huctuation; its opponents wanteu
lApplausel The silver mon wanted TO give the
farmers 81 grains OF pure silver; ne S wE Rnew
that IS :, grains would enable them to buy, a
dollars worth OF anything In any part OF mo
world. He believed in international bimetal-
Mr Cochran told the story OF how the British
Government had tried to have Jonathan swift
basement OF coin through the patent to VII
liam Wood on the 6retenS;e Of la; SO Of ?tnhr
remedy would be 70 cure scratch on tho
finger Ivy cutting of the arm" The ,, only tT 2
ss ,hat ys in. Irish as.Gy In
affections OF the Irish people. were, :he first
Grand Jury that threw out the bili and the
Ing Swift. presented those who attempted the
ruin OF the currency, ,,
claimod, had an attempt to debase the coin
OF country been made in the name OF popular
rights; one, OF the causes that led to tho
French revolt against royalty was that the
King had debascd tho coinage. And when. IN
1857. It was suggested in France. in order to
AMOUNT nSSH Of gold IN tho 2d.iranc niece. the
French ,pcopls. with the memory OF what they
had suffered from the dchasrment OF coinage.
made such determined protest against, the
suggestion that even tho slnrish court ot the
second empire resp"esd tina! protest and w .ne
on to show that the banks OF New York were
largely indebted to their depositors., He in
posts to tho amount OF S34.oO0.U0o. and
loans to the amount Of twenty-ilye millions
b"t the "w eject n the silver
ago bill would be to make n present Of twenty
ono million dollars to the banks Of New YORK
and to cut down the wages OF toll 40 per cent
Mr. Bryan DOM. Neb,) asked leave to PRO
E eSnihs i ifom Msl5ur Mr. Dian and
gentleman from Nebraska mi mselfl. and Ter
ws' nrf vi
that the banks OF New York denounced them
Mr. Gockran-It is because the banks Of New
York have discovered that in all the dealings
OF life honesty is tho best policy Loud and
eV contnuins Mr. Cochran said that he was in
favor OF silver: but In its platform the Demo;
srntic party had roiasod t" nut the w 1n
plause The promise OF the Democratic party
was that il would use all the silver we ha 4:
further coinage o: silver in the hope that ~
the future the country would be able to add
sto nd N Of value The United states was not
suffering to-day from lack of money: Il was
suffering from redundancy OF money Ih ines;
com n,crcal crises were like every other pestl-
lence which swept periodically over the Goun-
try. This crisis should be INVESTIGATE q the Inc
moved. In his opinion the pronounced cause
OF the present crisis was the redundancy oil
The ciTeulAtns mediam mao
Vie lie rcf"rre to the panic of 1893 in England
and said that one of the causes OF 1t was a
redundancy Of the circulating medium; Inc
crash then. hc said was complete; and led To-
OF eG r Sdi in ~ That susl"nsion OF bank
paper havin cut down the circuiatlng medium:
credit revived ana IN ls TO- ts1o the n0tss o.
was still suspended commanded a premium;
In this country there was redundancy OF
The more money you issue the lesp you have.
According to Mills it was not the .amount O
money in n country that affected prices 1t wa'
might pump fifty millions n month hity nil
lions week into circulation. and 1t would be
absorbed. as the burnin: sun OF the desert alb
Tho gentleman from Missouri Mr.. Bland
and sndNS remind re, that gentleman OF the way in
which the gold was brought hack flio How are
we gett ng the gold back! How. Irlchu o. vac
menhs Of sa9 We exported 2sSSyHd5 5nsh
els Of wheat and received $2I 100000 for It.
ported 32.OOO.0OO shells OF wheat and re.
ccived S24.O0O.00O for it. That is to say. that
ss aa Srnr hset
by the promissory. notes, forced into circmla-
tion by the operation Of the sherman act the
only method by which tcan be brought buck Is
BY the sale .: our produce. Scarcity of money
resu is only FROM, putting bogus money into
bread. and whoever sells the material from
which bread is made can force the str. am OF
gold in his direction: While we have the prod.
share Of the worlds gold. The friends Of the
iarmer the enemies OF the creditor. the friends
c5mplish the purpose, they nave set before
them. What they, would d" IS depreciate the
The eaptnIist. and enabe him to renudiate !.
part OF the balance which he owes to the great
q, my of creditors. who compose the mass g OF
which they have achieved: and all this w3uld
who ciai n to Ie champions Of the oppressed,
Mr.. Cockran's peroration. in which he plead ad
ed for equity and Instice MS the t basis OF COY
growth unaccompnnied ny the growth OF
moral grandeur VI ud he neither permanent
on the iioor and in the galleries. Mr.. Cock ran
was ovcrwhelmsi with congratulations on his
magnificent clIort.which occupied an hour and
were tumultuous cries OF vote" The
excitement OH the floor was so great that
Speaker Crisp was compelled to call upon tho
officers OF the House to pass through the
aisles and loOhies and request members to
take their seats or repair to the cloak ROOM IN
order that public business might proceed. Mr..
Cochran was followed to the cloak room.
where tho fluctuations of his henferS contin-
ued to be showered upon him for some min
utes.
Mr.. BLAND CLOSES FOR THE SILVER MEN.
Mr. Bland Dom. Mo- then closed the de-
bate for his side. He said that il the gentle
man from New York. Mr. Cochran iwhoss
financial theories were evidently gained from
a manipulation OF the stock Exchange, would
only 90 to that great country from which he had
sail we: Q obtained the agricultural products
which were shipped abroad in order t" bring
back the European gold necessary to sustain
public credit he would understand why the
gentleman and himself were SO radically DIFF
ferent in their views. 1t was true. rs the gem
tleman mad said. that it was to the product OF
the soil Of this country that the Imam
ciers OF this Government looked to
bring back tho gold OF Europe in order
to maintain our present financial system.
But the gentlemen lad failed to tell the House
the difficulties under which tho farmers la
bored in order to do this patriotic service. lie
had n OF told the House that there was corner
In the gold Of the world. As long as the gold
of the world was cornered by the legislation
OF the United States the gold men OF tho
South and West could exact their own price