The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-23

the Sherman act. Everyone would adj
NIT that the Sherman act was vicious in
principle and illogical. 1t was vicious
I'm that il made of silver a commodity.
1t was illogical and vicious in that it
left the silver bullion in the treasury un-
coined left it where it might be dumped
on the European markets at any time.
These were its disadvantages, but 1t had
some advantages. It's quaSi-recognitf ton
of silver had been of infinite value in
the hope which it had inspired of BIZ
metalliSm, and, in the fact that IL had
afforded an enlarged currency from
month to month for the past three years.
Even in the last few months the Sher-
man act had saved the country from in
finitely greater disasters than it had UNI
dergOne. 1t had given the country a
currency. as stated by Senator Chandler
of New Hampshire, backed by the
credit of the government and by the
silver. at its bullion value. That was
a pretty good currency. 1t was per-
haps, a little better currency than the
100000 clearing house. certificates now
in circulation in New York, backed only
by a rediscounted paper, and held by
people who were now clamoring for the
repeal of the Sherman act.
Massachusetts Again.
In a long spe- ch Senator Hoar severely
criticised those members of congress who
on a financial question against that of
the men of their own party who are
their recognized leaders on such subjects.
He stated that with us the finances of
the country have been for good while
the foot ball of the parties and of fac
tiOns. Every demagogue in public office
or seeking public office, every theorist
desiring 20 get notoriety by extrava-
gance, every anonymous and reckless
Scribbler who escapes contempt only by
concealing his personality, every agitator
who would marshal class against class,
every anarchist who seeks to overthrow
social order, every brawler who would
stir the passion of section against sec
ton, Of labor against capital or debtor
against creditor, of the poor against the
rich. pirates glibly about the currency.
and uses some misrepresentation of
sophiStry about the currency as his
weapon Of mischief. Yet nothing is more
certain than that a disturbance If the
currency is an advantage only to the
classes who are so attacked brings moth
ing but evil and disaster to the classes
TO whom the appeal is made. In speak
ing of the relations of the parties in the
present crisis the senator said: I'VE may
differ in opinion as to the responsibility,
but / hope we may find substantial
agreement as to the cure. If | can find
any 10 nGlp save the snip Il
care not whether a democrat or re-
publican is in command. Whatever errors
President Cleveland or those who follow
him have committed in the past-what-
ever mistaken purposes they may have
for the FUTURE am willing to act with
them in the present, if by so doing l
can help to restore my country to the
safety and the prosperity which she en-
joyed up TO March 4, 1S93.
Senator HOar then proceeded to argue
that it was impossible for the United
States to maintain the standard of value
in separation or isolation from the rest
of the civilized world. Upon this ques-
from the reasoning of the president in
his message, and for that reason he was
in favor of putting an immediate stop
to the purchase of silver for coinage.
At the close of Mr.. Hoar's speech a
discussion started as to the old question
of responsibility for the characterization
of silver, and was carried on for some
time by Senators Stewart, Cockrell Aid
rich. Hoar and Sherman. Finally, after
a brief executive session, the senate ad-
journed.
In the House.
The most interesting speech in the
house today, because it was really the
first republican protest against free coin
age was delivered by Mr.. Grosvenor of
Ohio and was lacking neither in sarcasm
nor satire.
Mr. Snodgrass, a democrat from Ten
nessee. made a bitter assault upon his
colleague, MIR. Patterson, on account of
the position taken by that gentleman
against free coinage. 80
Mr.. Hutchinson of Texas concluded his
remarks begun yesterday in favor of
free coinage. Of silver.
Mr. RlanchardS king in favor
of free coinage, reviewed the silver leg
islation of the country and quoted from
both the democratic and republican plat
forms. and expressed his opinion that,
if the republican platform meant any,
thing, not twenty republicans would
vote for the Wilson bill. The Chicago
platform had declared for the repeal of
the Sherman law, and then had declared
for bimetallism. That portion of the
platform ought to be carried out in
single bill and on bimetallic standard.
Mr.. Grosvenor said that it was to be
regretted that the president, in his mes
sage to congress, had not been so void
of partisanship as to ne had asked the
two houses to be.
1t was unfortunate that the executive
of the country, looking forward to the
condition which portended violent oppo-
sition to his views, had seen fit to first
appeal to partisanship and to unjustly
proclaim to the people that the present
peril of the country grew out of the leg
islation Of the republican party. If the
pending debate should develop into
partisan discussion it's instigation would
be found in the declarations o. the pres
ident himself The president had de-
clared that the republicans had been
responsible for the present condition of
affairs and this declaration would be the
origin of political discussion if political
discussion there should be. Very little
of the present trouble, he said, could be
traced to the Sherman act.
Mr.. Hall spoke in favor Of a greater
volume of currency and of the free coin
age of silver.
Mr.. Snodgrass could not vote for the
Wilson bill. 1t attacked but one SEN
tence of the Sherman act and did not
carry out the intention of the Chicago
platform. The cry Of the people was for
more money and the best way to secure
that end was to provide for the free
coinage of silver. The present fight was
between the debtor and creditor classes
The shylocks were demanding the pound
of flesh while the people were asking
congress for relief; and the men who re-
fused to grant this relief would be
branded as traitors to the people.
MIR. HUNTON's PLAN.