The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-27

prosperity Of England and Australia and to
tho distress and adversely q tho iarmerss ana ,h
sherman law lie hal voted against Il: but
il was now the last bnlwark o. silver, 1t was
the the time to let the country see who were the
friends q silver and bimetallisp In this
political revolution that. would strike down
! both great political parties For one. ne was
mocracy would have to 20 to the wall Jap
| plnuse.l
M'MtLIS SPEARS FOR BIMETALLIsM.
| Mr., McMillin .tDem.. TENN was the next
speaker He said that there were were three kinds ns
paper: and he woald Keep these three kinds Of
| currency, onch OF them equal 10 the other. and
| lence. any effort to cgslnte to the destruction
OF either OF these Kinds Of currency. lie could
/ which would drive from circuIation the 5000
100000 OF silver. It was a new doctrine to
q articulation. Il was new doc c;
ysnt in e RHHHpl' silver I've eo
| He wanted bimetallism. FOR bimetallism he
had voted in the EaS, t. and would mote In sne
that there should he collected on all silver not
actual cost Of coinage. and lin addition the
difference, ifany. between the face value ofthe
would cut of the foreign product oi silver. IL
was even. willing to vote for change in the
T where soS and syey oud c5ed
together. and where both could be the
npss vs and of h tho WALK talk
" ' passing the bi! and iettins members
60 homo and rest. as II the currency question
party part had been elected. There had been
ihopsnnd utteraness in the late Ca. campaign
tho currency question: "a thousand on the
Force bill for one on, the currency, and he
yS ren sfo rom NSw YORK r @
could eyer reconcile himself to the idea th lat
% TG4 Ss hs ay
! l. Davenport where he found him ug as n
bug in ri, rnGn IauShtTerl amid that h. wa,
anxious TO abolish not only John l. Dayen.
port but the system under which be EXISTED &c:
position for on, hundred years. and did every
day what he Ala Eefore the last election i , ne
| of New York as the retention OF the Sherman
lazy was DONG in one day;
Gratis had been sent Ito Congress to deal with
ton. and with tho question of the Force bill.
They were called uron to revise the tariff. and
| The latter ought to he done without unneces-
sary delay. and after it is DONE" he said.
We see eye to eye and speak with, the same
| voice. Let us once more lock shields. let us
show show our opposition TO force at the polls. and
with ono voice and one stop. march on to
glorious victory" DemGGratic c applause us, ,o-
the sherman act and the Government had
gone on under it riling up silver bullion. issu
ih The notes in gold. If hat policy We're to be
continued the time would come when the Gov
ment. lie should therefore vote for the repeal
| Of the act. He could not vote for free coinage
with rat2 OF ~ to ratio OF ~ h to Wo tb
! markets OF the world. the silver dollar would
| be 33 per cent. below par.
| MR. wilson CLOSES THE DEBATE
| Mr.. Wilson Dem. W. Va. the author OF tho
| bill. closed the debate with speech in sup
| he said. after the able speeches made on each
! side of the question. for MIN ION whom the de-
| to lend force or novelty to the discussion. 1t
| had been inevitable that the debate should
theory and ;inanciai experience; They had ali
| felt when they had listened to the speeches on
each side. that the American people were get, ,
i@nSrtant , spS5ss,; He shs%id t,. not at
He should attempt nothing more than plain
conversational statement OF the nature OF the
which. in his Judgment. cal ed now for its I'M
conditional repeal BY universal consent the
been expecte! to raise the vail e of silver bull
in this Wnr "pH bsS Sssn bs
st sSs. and ny po! s BY" those fa%'aF WIN
States went into the market and pur
chased. every month. Mt the market price. viz
one-third OF the whole worlds product OF sill
verl that tho price OF that metal must be raised
and Tat thar aG1 would 60 Win in
gold. That expectation had proved to be a
false ono Almost from the first enactment . Of
! first period OF speculation which followed
its enactment. the price OF silver had been
had reached such a depth in the market
| that tho people Of the whole world were being
t tres, :" and i'd some victims had been Obliged to
clos" their minis to the Tree coinage OF silver;
haa o"Te S the Of r 1S
four millions of its legal tender notes every
month. there would be an expansion OF the
in trade and business. That eYpectati9n had
an expansion Of the currency it had produced
a contraction Of it. because for every million
1 yo RD hnl hs sG0n paid out
No one could doubt. whatever Of philosophy
there. might be in the remarks Of the gentle
| man from Maine this morning, that one OF the
great secondary causes III not Of itself an Of
i!cient urinary cau,el Of the distress in the
pom -ihle for tho panic that had suddenly over
tie FIR first speech to the last made against the
pending bill that 1t would. while stopping
| the purchase of silver. throw the country upon
a gold basis. The eountryman on the plains.
| who was astonisned to learn that he had been
| spenking prose all his life was not more sur
| rri-ed than certain gentlemen would he to
| lind out that this country had been upon n
| gold basis since 1888. under economic laws
| which the laws Of Congress could not over
ride. We had been on u gold standard since
1884 10y economic laws; since 1873 We had
been on gold basis by the expresa statute
silver had gone down the greatest
| stress and test was put upon the
! Government. Gentlemen had said that II we
| would stop now tho purchase OF silver under
! tho sherman act we would demonetize silver.
| The bill proposed here would not demonetiZe
"A single silver dollar to day circulating in any
rart OF tho country. The bill had come, not to
destroy tut TO save, lApplause 1t had
come not to strike down silver. but to place 1t
| nj once and forever on an imrregnahie basis
with gold in the circulation OF the country.
Sir. Martin Dem. Ind inquired whether
| the passage of the bill would ncressitate the
| sale OF bonds in order to secure gold.
! Mr. Wilson replied that a question OF that
kind must be answered in the light OF expert
ence. not in the ight OF prophecy. In the
| light OF the experience OF France. Of the
| Scandinavian nations. Of Canada. OF Holland.
| and OF lava. he could merely repeat his re-
| mark that the passage Of this hill would at