The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1893-08-30
Tom Reeds Speech on the silver
RLlI

Capitol to witness their majestic play.
There were in the arena such men as Reed,
Of Maine, Cochran. Of New York, Bland. the
apostle Of free coinage, and Wilson, of West
Va. Mr. Reed was never in better form,
and to him was paid most striking tribute
at the close Of his argument The man who
two years ago was denounced as ''Czar" and
10 whom the cowed and conquered Demo
ocratic minority sullenly refused the custo-
mary vote OF thanks for his services as
speaker, was applauded by the Democratic
majority as well as by his party colleagues.
Following is = summary of Mr.. Reeds
remarks:
In the beginning OF bis speech Mr.. Reed
confessed doubts of the wisdom Of the
House to deal satisfactorily with the ques-
ton before it, but expressed his comfort at
being able to fail back upon the well estab.
lished belief in the wisdom OF the decisions
Of Congress. Crises is like the present.
he said, "were the inseparable accompaGi-
ment Of all human progress. which is a
series Of upward starts and Of falls OF almost
propor,ionable length. The former may be
characterized in word-'confdenoe; the
latter in another word distrust.'
These fluctuations occur almost simulta-
neously-always sympatheticAlly-so closely
is business allied by the telegraph and rail
rad.
Because Of the fact that the drain Of gold
from the United States since the passage OF
the Sherman law, in 1890, carried out Of
the country an amount equal 10 the value
of the purchases OF the silver under the law,
the people saw in it the cause OF the loss Of
gold, and distrust was engendered, and a
solution Of the boarding and depression set
in to-day and the country is suffering all
the calamities Of restricted circulation in
the midst of an abundant supply of money.
This, then, continued Mr. Reed, at
the present. moment is the situation in which
we find ourselves. have, in thus narrat-
ing the outward circumstances which have
attended our present position, failed TO state
fully what is, after all, according TO my
Judgment, the underlying cause Of the
present condition Of affairs.
AT the last election the Democratic party
was brought into power by curious com
biuation Of fcircumstances-as the result Of
hundred causes-not with careful and candid
deliberation, but as the result, in large
measure, of the apathy Of the American
people. The vote shows what declare. and
the recollection Of every individual TO whom
am speaking can be safely appealed to.
while this thing has not been specially
manifested during this discussion while
there has been little talk with regard to it,
nevertheless the consciousness Of this 9act
underlies our entire situation.
q don't intend, in alluding to this fact, to
in any way refer to partisan politics. ] do
not undertake to raise any question as 10
whether the system of Protection is a wise
one or not do not undertake to dispute
the proposition on the part Of the DemOc-
racy that Protection is a tax, wicked and
iniquitous, for the purpose Of discussion
and for that purpose only. / am quite free
to admit that Protection is a fraud and that
virtue resides only in a Revenue Tariff; |
but there remains, even if it be- admitted |
that the propositions Of the Democratic !
platform are righteous-every one-the fact |
that the manufactures Of the country are |
subject TO a change. What the Democratic /
party purposes to do with the power which |
is in their hands nobody can say. They do |
not even know themselves, and hence they |
are not able to impart the knowledge 10 |
Others. For my part I DO not expect the I
Democratic party to be utterly bad. | do /
not believe they will be permitted to be so
if they should so desire. Such is the re-
straining influence Of the people, even after /
election, that believe they will not carry 4
out their contemplated changes You may 1
be sure the manufacturers Of this country 4
will never dare manufacture more than the /
absolute necessities ofthe people require,
twill not undertake to dwell, at this
present time, for do not want to confuse 1
the issue. can characterize, in a single |
phrase, the cause Of the present condition Of |
Affairs. It is the undiseovera5le uncertainty |
of the future Of both the currency question 1
and the questions OF Protection and Revenue
Tariff. The capitalist has seen his stock ard 1
bonds, as he viii later on see his real estate,
fall in value far below anything be feared. /
And soon the wages Of the laboring classes |
will be reduced, unless he shows that he 4
understands these questions so well as to re- 4
fuse to have them be misunderstood by his /
member Of Congress
Continuing, Mr.. Reed said: "For the 4
first time in thirty years the Democratic
party has been lifted from the low level Of /
criticism of those in power to the high re-
sponsibility Of power and action Elections
can pnt them in pOwer but only lapse Of
time can give them the proper sense Of re-
sponsib.lity. The time will come when the
Democratic members Of Congress, instead
Of disputing with each other WHAT the Demo-
catic platform means, viii be disputing with
each other as to what the necessities of the
country demand. Until that period re-
sponsibiliiy shall fairly rest on their
shoulders and also afierward. They can
rely on the assistance of the Republican
party in the minority. as they have relied
upon them in the msjOrity, in the direction
Of sound government, responsibility, and
Of honest administration Of affairs.
81 am sorry We have not been permitted
to exhibit our wisdom in the way Of amend
ments that We have not been allowed to
lake the vote of the House as TO the various
to meet this affair, which would
seem satisfactory TO US. ! am sorry that
this question cannot be settled, aud settled
righieously, within the bounds Of the Demo
cratic party. Bat as I know. and every
man in this country knows, the majority Of
he Democratic party would decide against
he good sense of the nation.
Passing then to the consideration Of the
question Of repeal, Mr. Reed said that while
be was in favor Of it, he did not think it
would be an immediate cause OF a revival Of
he prosperity of the country. Neyerthe-
ess be would vote for repeal, for two
easons first, because whether justly or not.
he Sherman law is believed 70 be the cause
# the boarding Of currency throughout the
iountry. In this connection Mr.. Reed paid
compliment 70 the managers of the banks,
generally, saying that in his judgement they
we're doing an honorable and patriotic work
md were the mainstsy ofthe country against
allure and future disaster. The second