The times. [volume] (Richmond, Va.) 1890-1903, 1893-09-02
VANCE AGAINST REPEAL
THE NORTH CAROLINA SENATOR
SPEAKS ON THE MEASURE.
The Repeal Bill to be Consecutively Before
the Senate Until Disposed of-The
Debate on the House Rules.

Unfinished Business" and the bill for
the issue Of circulating notes to national
banks stands at the head OF the bills un-
der the head Of general orders"
The meaning Of that is that at 2 O'Clock
+. NJ each day df not previously taken
up on notion the Vice President viii lay
the repeal bill before the Senate; and that
II prior to o'clock. the calendar will be
taken up, the bank bin will be first IN
order, and will remain before the Senate
till T. NJ. The silver purchase repeal
bill was taken UP to-day. in the morning
hour to permit Mr.. Vance 10 speak upon
it. which he cid for an hour and forty
minutes.
Mr. Vance began his speech with the
statement that the great law Of supply
and demand operated in regard 20 money
just as it did TO everything else; when
money was attendant prices were high;
when II was scarce, the prices Of all pro-
| ducts were low. Therefore that Increased
the abundance Of money benefited pro-
duction and enhanced prices and wages,
and ne believed that contracted or di-
minished the amount Of this money and
/ deprecated everything that is for sale,
| including wages. though by reason Of
| combinations and defensive measures in
I many parts Oh the NDiluf MuEfH al az
| fected less than products. The effect
| upon the condition of mankind which
! would follow the destruction Of One-half
! the currency Of the world, amounting In
! the aggregate TO S7.500.000O00 il would be
| impossible accurately 90 describe. StiH
this process Of destruction has been
/ going on quietly since 1872. and its result
| is seen in prices lower in many things
! than has ever been known in the memory
! of man.
/ The repeal Of the law without any sub
! stitute, meant the end of silver money
/ for this generation, unless a revolution OF
/ the people should restOreit as 10 did
after the fraudulent demonetizaton Of
1873. Let no man doubt that this move
ment for the repeal Of the Sherman act
was the result Of conspiracy among
the money holders Of the world. our
own secretary Of the treasury had said
so. 1t had been repeatedly announced in
the British House Of Commons. and no.
where denied that the intent OF this COM
hinatiOn was to increase the value Of
gold I'm the hands OF those who held it,
and increase the value Of all securities
| by making them payable I'm gold. The
method Of the attack was by the creation
Of a panic.
Mr. Vance criticised the action Of the
secretary Of the treasury I'm redeeming
the notes issued i'm payment for bullion,
i'm gold, and said that any technically
intelligent man would construe that law
TO mean that the discretion was to be
used i'm favor Of silver when the condition
Of the treasury required H. The discus
sion Of this question. Mr.. Vance said. was
narrowed by the fact that all parties pro-
fess bi-metalism, and haze declared for
the use of both gold and silver I'm their
platforms. In the absence Of a position
SO defiant Of logic and Of fact, # was
hard 10 speak plainly without appearing
10 violate those courtesies which were
demanded by feelings of personal res
pect and regard for each other. Members
of Congress declared they loved silver !
money. bi-metallism. therefore they slew /
IL. They wanted both metals. therefore 4
they abolished the enc. They wanted I
gold and silver coined on terms Of equal /
fly according TO their platform. and so /
they stopped coming silver They desir-
ed TO maintain the parity. but cut the /
only cord that held silver up and per-
mitted it to drop out Of sight.
Refer rirg 10 toe Democratic platform,
Mr. Vance asked "If the language Of the
Pattern taken altogether meant only
tfat we we're TO oblige the bankers. bond
holders and stock brokers first by un-
conditional repeal, accompanied only b.
a short stump speech in the belly Of the
act. saying that il is our policy AZ soma
rttre time-the Lord knows when to
do something furthcr-the Lord knows
W What-in the direction Of carrying out the
other promises Of the platform. were not its
makers and uphOlders Of that declaration
o. Iolicy and purposes open 10 the charge
Of irsincerity and Of 50 framing words
as TO deceive the people Wise sufsTages
they were seeking.
If such an Interpretation OF rho Plat
foIm as was Contanded for here by those
who will vote for repeal and presumably
by the president. had been announced
during the campaign of the iast year. |
Mr.. Vance said he was quite sure Mr..
would not have carried his /
and he believed further that he could not
have carried a single electoral vote south
lf the Potomac river
In reply 10 Senator Gordons query why
h. friends Of silver halted between un-
conditional and conditional repeal, Mr.
Vance said that by conditional repeal we
lnited the Democratic party. or at least
an true friends Of bi-metallsm. by the
proposition of unconditional repeal that
vas impossible. Bi-metallism was the
most popular. If not the most potential
actor i'm the last campaign; IL was the
me plank common 10 all platforms. a
Of the votes in Congress and
n conventions before and after the pro-
,osed repeal, would form contrast that
would put 10 shame the wonder inspiring
'atent medicine advertisements. before 5
md after taking"
Thirty DAYS from this time all obstruc-
ions % the business Of the world world
AVE passed away and TO day according
o the leading financial Iapers an upward S
- dency was everywhere manifested Iic
allied upon his friends to take heart [
nd stanI by the object OF heir love a O.
tile while longer TO insist upon repeal y
q the face Of the admitted fact that the u
} eTman law was not the cause OF the D.
-CLtle was an Acknowledge that 10 n
)uld not be repealed without some sub 4
-itute in cold blood and in times Of y
'asonable prosperity. in view Of the at n
tude OF the President he knew. and other d,
.uators knew, that any bill providing for q.
ther the free coinage or the limited "
image Of silver could not become law; -
nd 20 permit the passage OF this bin
lthOut attaching some other legislation | ~
it-knowlng that other legislation could H
II be secured independently and by itself H
was TO consciously surrender and turn C'
er backs upon the pledges made 10 the
'ople. III the Democrats did this they /"
ust DO il with their eyes open 10 the -
ard knowing that they We're =.
Injecting themselves 20 the serious accu- u
tions Of their constituents. II the Dem oi
ratio party did this II would cease TO 10
the peODle's friend and become the III