Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-09-02
HILL FOR SILVER.

The New York Senator Creates . Stir IN
tho "American House OF Lords"- He
Declares for Bimetallism and Against
the Gold Standard.
WASHINGTON, Aug. 26.-In the senate
yesterday Mr.. Hill IN. W spoke at
length on the absorbing question OF the
day. His speech created somewhat OF
q sensation,
There were those, he said, who did
not wholly agree with the president in
his diagnosis of the malady now affect
ing the body polite and who did not
hastily join with him in the rosy con-
clusion that the financial millennium is
to come the moment the Sherman law
is removed. There were some who had
given the subject attention who be-
lieved the cause of the present de-
preston was deeper and beyond the
Sherman bill and that its foundation
was laid in the evil hours of 1873, when
the country unwittingly laid aside the
financial policy that had been its guide
since the foundation of the government.
The existing financial disturbance
Mr.. Hill found, was attributable to
three distinct causes: First, it was the
natural and inevitable result OF many
years of real or fictitious prosperity;
second. some portion of the present
panic could be traced to a concerted
effort on the part of monometallists to
produce it in order to discredit silver;
third, but no matter what else might
have contributed to the present finan-
cial condition il would not be denied
that the silver purchase law had been,
at least in part, and possibly the most
largely instrumental in producing ex-
listing complications. He did not be-
lieve that simple repeal of the Sherman
law would at once restore abundant
prosperity, but that many years would
be required to recover from the present
disturbance. He compared his own
course in declaring for repeal with the
presidents course in failing to refer to
It until this late day.
Mr.. Hill said that he was bimetal-
list and stood for free coinage at a
proper ratio. Had the Sherman law
been repealed at the last session or in
special session on March s the United
States would have escaped the present
panic and precluded the closure OF In
dian minis. Independent free bimetal-
lie coinage in the United States was
not consistent with the counsels OF
monetary science. While repeal would
not bring parity it would facilitate it
by bringing that new tangled none
tary theory-gold monometallism
begotten in the embraces OF ignorance
with rapacity-at last to an une-
quivocal and crucial test. The per-
manent remedy for the financial diff
Guilty was to return to the bimetallism
that existed prior to 1873. He favored
tho increase OF the national bank cir
eulation as proposed in tho pending
bill. He regarded the question OF ratio
as not timely and rs OF the least conse-
sequence, but if changed Mt all. 1t should
not be enlarged, but diminished to l53s,
the Latin union ratio. He should re-
fuse to follow in the footsteps of any
administration that sought place the
democratic party in false position and
lead it into the very camp Of the enemy.
Tho president must rely upon repu Bile
an votes to carry out any suicidal pol
icy. He did not believe, however. that
any such course would be taken by the
president by his own volition or even
under the inspiration Of indiscreet ad-
visers until clearer evidence should be
furnished than now existed. He dep
recated hssty action in the formation
of definite financial plan, and predict
ed the failure of the attempt to impose
Q gold standard on India. Meanwhile,
the prompt repeal Of the Sherman law
was demanded as measure of tenn
perary relief Congress should legis.
late upon the financial question and
then return to their homes next De-
cember resuning the consideration OF
. permanent system. His distinguished
colleague and himself would cheerfully
vote for the repeal bill 'unawed by
power and uncorrupted by federal
patronage" He predicted the passage
Of the bill by the senate and that the
public would weather the present
storm.