The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-08-27
Hills SILVER SPEECH.
The New York Senator Speaks for
Bimetallism.
"A SLAP AT THE ADMINISTRATION
He VIII Vote for the Repeal Bill "Un-
swed by Power and interrupted by
Federal Patronage'-He Is for FREQ
Cotnage Mt ~ Diminished RntiO.

WA SHINGTON, Aug. 26.-At the close of
the routine business in the senate, which
comprised no matter of public interest en-
cept the presentation of communications
from the treasury department adverse to
any special legislation in regard to penal
ties OH the whisky tax, Mr. Hill addressed
the chair and was recognized
There were those, Mr.. Hill said, who did
not wholly agree with the president in his
diagnosis of the malady now affecting the
body polite, and who did not hastily join
with him in the rosy conclusions that the
financial millennium is to come the mo-
ment the Sherman law is removed
There were some who had given the sub
Ject attention who believed the cause of
the present depression was deeper and be-
yond the Sherman bill, and that it's found
ations We're laid in the evil hours of 1873,
when the country unwttingly 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 dis.
tinct 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 the monometallists to pro-
duce it in order to discredit silver
Third--But no matter what else may
have contributed to the present financial
condition it would not be denied that the
silver purchase law had been, at least in
part, and possibly the most largely in
strum entail in producing existing compli-
cations.
Mr.. Hill did not believe that simple re-
peal of the Sherman law would ut once
restore abundant prosperity but that
many years would be required to recover
from the present disturbance. He COM
pared his course in declaring for repeal
with the presidents course in failing to
refer to it until this late day.
lie was bimetallist and stood for free
coinage ut proper ratio. Had the Sher-
man law been repealed at the last session,
or i'll special session on the 9TH of March,
the United States would have escaped the
present panic and precluded the closure of
the Indian mints- Independent, free BIZ
metallic coinage of the United States was
not consistent with the counsels of none
tary science. While repeal would not
bring parity it would facilitate it by
bringing that new-fanglcd monetary
theory-gold monometallisn, begottcn in
the embraces of ignorance with rapacity-
at last TO IN uneQuvocal and crucial test
The permanent remedy for our financial
that existed prior To 1873
Mr.. Hill favored the increase of the ma
tional bank currency rs proposed in the
pending bill. Continuing, he said he re-
garded the question of ratio as not timely
ana as OF the least consequence; but if
changed at all it should not be enlarged
but diminished to l51,, the Latin union
ratio
lie would refuse TO follow in the foot
steps of any administration that sought to
place the Democratic party i'll n false pv-
sition and lead it into the very camp of
the enemy. The president must RELY on
Republican votes to carry out any such
suicidal policy. He did not believe, how
ever that any such course would he taken
by the president by bis own volitiou or
even under the inspiration ofindiscreet adj
Vlsers, until clearer evidence shall be fur
nlshed than now exists. He deprecated
nasty action in the formation of "A definite
financial plan, and predicted the failure of
the attempt TO impose II gold standard on
India
Meanwhile the prompt repeal of the
Sherman law was demanded ms "A measure
of temporary relief. Let us legislate upon
the financial question. said Mr. Hill, and
then return to our homes next December
reStming the consideration of perma-
nent system. His distinguished colleague
and himself would checrfully vote for the
repeal bill "unawed by power and uncor-
rupted by the federal patronage"
lie predicted the passage of the bill by
the sennte, aud that tue republic would
weather the present storm.
When ho declared that himself and his
colleague would vote for the pending BILL
llnawed by power and interrupted by
federal patronage, there was an outburst
N "a in, Z h,. oil
president suppressed, declaring that if
any other manifestations occurred the
galleries would be cleared.
Mr.. Hill retired into one of the cloak
rooms. where he was surrounded by sena-
tors and others offering congratulations.
AS soon as order was restored Mr. Stewart
took the floor and addressed the senate,
denouncing the pending bill rs II measure
destructive of silver