The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-26

+ legal tender quality Of coin he said that
f the proposition that congress could deny
/ 10 one metal a legal tender quality, while
F the states under the constitution, were
required 20 recognize both, was I'M
warranted
ORIGIN OF OUR MONEY.
/ Mr.. Bate then took up the history Of
] the origin Of our money, holding 10 the
/ fundamental proposition that the silver
] dollar and not the gold coin, had been
/ made the unit of value. BY the legisla-
/ ton of 1892. he said, it was thus intended
that the dollar should always be 3l14
grains Of pure silver just as the yard stick
/ was TO be thirty-siX inches long, This
measure of value remained, whether the
coin that represented it was of silver or
gold, greenbaCk, national bank or lndl-
vidual check 1t was fixed, no matter
what the price with no regard TO ratio,
[ and remained so until altered by unhal-
lowed hands in 1874 Although the coin
dollar varied with the ratio, the dollar Of
the act remained fixed and permanent.
The legislation which repealed this wise
work of Hamilton and jefferson was of
dark and devious character and by cir
cuitous and suspicious proceedings. No
greater crime, if it was designed, and no
greater error if it was from ignorance,
was ever committed in legislation
DECENTRALIZATION OF SILVER.
MIR. Bate then gave a history of the de-
monetization Of silver. which ne said was
first made public through the resumption
act of 1873 The outcry against it con-
tnued from that day to the present and
found expression in the Bland bill in 1876
and the proposed decentralization of the
silver dollar Of 4l215 grains in 1877, both
Of which measures passed the House, but
,urasn 1Ccf 40
ton was kept up until the passage
of the Bland-AllisOn act, which
unfortunately did not restore the detni-
ton Of the dollar, but left il liable to con-
tract or expand with the rise or fall Of
the price of silver bullion. This popular
demand for silver, he said, was not less
now than it was twenty years ago. When
congress, by law, made gold the single
standard, il was contemplated by this re
peal that it restricted silver as a debased
token, which paid the wages OflabOr in n
deprecated currency, while the profits of
capital were repaid in gold.
PLATFORMS OF THE PARTIES
Mr. Bate believed that it was because
congress was bound by considerations of
public equity as w9ll as those of national
interest, TO restore the money measure to
what it was before 1873, that the platform
of the political parties declared emphati
CdllN lOE inc lItt COlidRt Ol SILVER anu bit
maintenance of parity between gold and
silver. His people were for frer silver and
in voting and speaking as he did,
he believed he but voiced their
sentiments. All laws that demOnetized
silver or forbade its coinage as freely as
gold We're, in his opinion, uncOnstitu-
tional. 1t was not any particular section
of the Sherman law that has been de-
nounCed by the democrats in convention
as a "makeshift," but the law in its en-
tirety, and now it was proposed TO repeal
the only section that in any way com
mendei it to the people.
CAUSE OF THE DEPRESSION.
The general cause of the depression and
business staguation, Mr.. Bate found to be
due to the appreciation of gold conse-
quent upon its inadequacy to do the bust
ness Of the world.
Touching another branch of the sub
ject, MIR. Bate said the most potential fac
tor in the real causes which brought
about the present panic was the republi-
can tariff. The reform of tn at system Of
fiscal legislation was the real issue of the
last presidentials election and was
the main subject settled in the
last popular triumph of the party 1t
should, he thought, have been taken up
and pushed with as much vigor in the
House as they have manifested in push
ing 1t on the stump and in the press as
the real cause of the trouble, and now it
had been relegated to the rear, awaiting
a more convenient session. 1t was a seri-
Gus disappointment to the people to
learn that the party they had
honored with their votes pre-
ferred gold to the tariff, and that the
wealth of the rich was of paramount i'm
portance to the poverty of the poor, The
men who manufactured the present panic
to brighten congress to adopt the gold
standard, were preparing to fan another
panic into flame against any cut in the
tariff
BRILLIANT FINISH.
After criticising the national banking
system and predicting the recovery of the
country from the distress that overlook
it. the storm of which. he said, it was
even now weathering, Mr.. Bate CON
cluded with a brilliant apostrophe to
gold and silver
At the close of Mr.. Bates speech at
p. m, Mr.. Stewart resumed the floor, and
after his two hours rest went on with his
remarks in the same vein that marked
his utterance early in the day.
Mr. Voorhees, interposed with a motion
for executive business, remarking that
the agreement for a seven hours session
daily contemplated giving a short time to
that business.
The Senate at $40 O'Clock adjourned I'M
til tomorrow at II o'clock.
-Smeddle always speaks well of
everybody.
Wicks-NIere matter Of habit He vorlyed