Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-18
HON. JM PENDLETON
FULL TEXT OF BIS ADDRESS IN TIE HOUSE
OF TIE SILVER QUESTION
Re is Opposed to Free Coinage at any Ratio With
oDl an International AgrSsmeni-Ihs fnan-
oial History Of France England and Ohr
European Nations.

WASHINGTON, d. c., August 1.-THE
following is the full text OF the address
OF Mr.. Pendleton on the silver Ques-
tiOn:
Mr.. Pendleton, Of West Virginia
said:-I think that this is a ques-
tlon Bupon which Democrats can
very readily differ without being
accused OF having abandoned their
party principles. 1 know at one
time 1 entertained very different opin-
ion upon this question from what / en-
terrain to-day. But I an one OF those
who believe Ia the lessons OF expert
ence. and / am disposed 10 learn by tue
test OF prosperity as well as adversely
The President OF the United States,
following the privilege conferred upon
upon him by the National Constitution,
has called the Congress Of the United
States together TO meet what be says IS
a grave and serious crisis. BE has per-
formed his whole duty 10 the premises
and he has taken himself from the City
OF Washington to his quiet summer re-
treat and has left 10 TO this body, united
with the Senate OF the United States,
10 determine upon the measures
that should DO adopted for
the benefit OF the American
people. And 1 am glad that Grover
Cleveland is not here to-day endeaVOr-
Ing 70 exercise any influence OF any
kind or character upon the action OF
the individual members Of Congress
He has performed his duty and be has
left it 70 US 70 perform ours, and am
willing 90 assume the responsibility
along with 355 other gentlemen In this
House aud SIS members OF the Senate OF
the United states. We are told that
we ara facing crisis. The 1rst Ques-
tlon that actually comes 20 us Is what
IS the crisis aud what has brought 10
about. and then what Is the remedy 20
stave IL of or abolish 10?
What has caused the present crisis?
Why Is 10 that all over this land we see
banks failing 10 all directions and ind
great business enterprises coming 70 a
sudden halt and men by the thousands
thrown out Of employment There Is
one great Fundamental reason that has
more 20 do with 10 than anything else,
and that is the lack Of confidence on
the part Of the American people. The
next question for us TO consider Is
what has brought to pass the lack OF
confidence that we now find prevailing
North, East, West and South? What
IS it? My distinguished friend from
the State Of Missouri (Mr. Bland),
whom / admire as highly as do any
member Of this body, tells us that 10 IS
because we have failed TO adopt the IN
limited coinage Of the silver dollar az a
ratio Of II to /. Now L admire that
gentleman's courage. 1 admire his
sincerity, and, above all, I honor aud
revere the consistency with which he
has adhered 20 what under the pres
ent conditions throughout the world,
must be a falling cause. A year ago 1
was disposed 70 think differently upon
this question from what l think now.
Then, i am free TO confess, l had given
IL no study, and was ready 70 vote as
thought was right and l did vote at
that time as I thought TO be upon the
right side OF that question. But IS l
have studied this question, have exam
ined into it aud investigated 10 TO the
best Of my ability ! have found that 1
was In error in former days, and finding
now what I believe % be the right
course, / for one am ready 20 pursue IL
and stand by 10 % the bitter end, wheth-
er II lead TO my political defeat or polit-
ical victory at the polls this coming
election, mud I am not one 10 stand here
and charge other men on the floor Of this
Houss with dereiictiOn as TO their duty
90 their constituents, or with the viola
tion Of promises which they are alleged
70 have made TO their people when 1
know that new lights give them better
knowledge.
Now, what Is the condition Of affairs
prevailing in this country which has
brought about this crisis? 1 attribute
that condition more 70 the cause OF IN
sound money than 20 any other known
cause. believe that nine-tenthS OF the
financial panic, nine-tenths OF the bust
ness failures that have been entalled up
in the civilized world are due 70 the fact
that the world has time and again sur
rendered itself TO the evils Of an un-
sound finance. We have seen Ia this
country every method Of finance advO-
Gated. We have beheld men Of known
intelligence advocating every theory
upon the subject whether history has
cOntradicted them or not. Why, go
back one hundred years and what do
you End TO have been the condition Of
France? AT that time the French peO-
pie were embarked In a great revOlu-
ton. They thought they needed money
to carry on the war that had been pre-
,F-fs,toE ewoFr1F han, an tha r,rf ~ m
Europe. What did they do? They Is
sued unlimited paper money. They
based it on what? Not on the only
thing in which paper money can ever be
redeemable-cOin, that is used TO all the
world, but they first cOnfsCated nearly
twO-thirds OF the land OF France, the
land that was held by the mobiles and by
the priesthood, took 10 for the govern
ment and said that they would make
that land good for the redemption of this
currency called the Assignat currency
OF France. Several thousand millions
OF francs Of il were issued. In the
course Of a few years what was It
worth? just what Confederate money
was worth when Lee laid down bis arms
on the 9th day OF April, 1865. To re.
place the aSSlgnat came the mandate.
Several thousand millions Of them were
issued, and 10 few years more the
same thing followed as TO them, because
the mandat was not redeemable In coin,
not redeemable In money that was rec
ognized as money throughout the civil
feed world. II met the fate that all fat
money has met 80 all times and under
al circumstances and became absolute
ly worthless, and was that much waste
paper 10 the hands OF citizens Of France.
And what would money Of this kind
be? What effect did 10 have on the
prosperity Of the French people? 1t