New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-15
Mr.. VESTS ARGUMENT FOR SlLNEk'
HE DENIES THAT OvERPRODCClloN Has
THE FALL IN PRICE AND SAYS LE'lH-
JATION DID IT

Washington Aug 1i-Mr Vest tDen'' nv
called I'D the resolution offered og MN
Tuesday in the words: , ..o,, fra
..Resolved That the American people iio''' .
dition and interest favor bmetaHsii ar" urar
and unlimited coinage of both gold ana Sn,.'
r,,hout discriminating against either metai; 'nh'
4, "a also the established policy OF the Ch'eu ~,
N maintain the parity Of the two metals - .
the debt-paying and purchasing pow " to ,hs
dollar shall be at all times equal that 1t 10 Wv
duty of Congress to speedily ehaet SUI
will efYectuate and maintain these ooee''. 800
before bepinn,ng his speech in support oil te resi-
It, Nr vest had read the declarations IN the
Republican and Democratic platforms OH ''e
iect of silver, in order TO show tha' oo' p"'.
90. rractically agreed on that question ne sao
that II was time for the people OF the Ihneo o'a'eS
"a know whether politics was jugsie or ii"uu'
mr. whether the solemn declarations Vi pa" ~
worthy the confidence of n free peopie
A HOMELESS LEGISLATIVE Do"'
r,, go, tho sherman act Mr.. Vest spoke OF
4, 40 bouseless and homeless legislative uos'
Nth no one even TO give 1t bone anu "i'
being able to find kennel in whch " H'1 ~,
dishonored head. And, nevertheieSs' he WIZ
vote against its repeal without guarantee IN
solemn as the great necessity OF 'he Poop'e -
silver shall exist in the United States as money
,rc,a, He had been known the firm ana uii-
shrinking friend of the President OF 'he M
States, and had in all his Campaign 9t 80,
Missouri declared Mr.. Cleveland to be phe'',''''
like himself and that they only dhereu III ie., ,
ence 10 the ratio He had had the right 10 MANI
that statement because Mr.. Cleveland hao ac
1904 tho nomination on a platform when
n,eaoad the Democratic party to bimetalishi' IL
had been as well known that the Denio'i
party stood on the doctrine OF bmetaiiisih d. '''
II had met in Chicago and nominated UroHei
land for the Presidency. He did not unuer'ahe ~
cav now that the President was opposed 10 p''
10 nrl1
sarct,on to a measure TO coin silver at a CONNER
c,al ratio with gold; but he did undertake TO say
that the Presidents message was most sishiheah'
for what II failed to say. ,
Mr. Vest went or to argue against the laea uia'
tho overprotucton of silver, in relation to goid
justified the decentralization of the white metal
and he quoted the tables of gold ana SILVER pro-
ducton for many years in support Oh HIS a's"
ment He undertook to say win the sied''"'
resnect for the President. and without the sigh'es'
doubt of his honesty Of purpose, that "heh "e
failed dn that great state paper TO say one worn
a., ,.snec, N bimetallism he certainly meant that
a consideration of the question of the free coinage
of silver at any ratio was so lmpracticdoie "'' ~
did not need Executive notice. AS 10 the asseruo''
that silver should be demonetzed because IL huctu
ated in value while the value OF Soio was S'ao'''
he read an extract from what he called re-
markab,e pamphlet" written by Mr. Montei;h
douglas a business man Of London, before the
closing OF the Indian mnts. pleading with 'he
people of Great Britain In favor OF bimetalisH ar
the only safe and foundation for financial ex-
istence and declaring that silver has really hue'u
ated much less than gold.
INJUSTICE 10 HE DEBTOR CLASS
In replying to questions by MIR. Gray, of Della
ware Mr. Vest asserted that any discussion OF the
subject would be imperfect and unsatisfactory
which did not admit both sides, what was
known to every intelligent man. that II the VOL
ume of money increased, the prices OF commodities
went up and that II the volume OF money de-
creased the prices OF commodities went down. lie
had seen the day. in the vcissitudes OF his me-
when x3O of paper would not buy LOAF OF bread
and when a g. gold piece would buy a house ana
lot IL was not necessary for him TO say when
and where that was. because he ala not WISH TO
revive war issues. G.aughter) And 40. II one-haii
the coin currency of the country were struck down,
the burdens of those who owed money would DE
a,,,h,od and tho prices of commodities would De-
mt down beyond computation. Mr.. Horace White
had stated In a recent article in Tine NeW'hoih
Evening Post that he hoped that day would come
that he wanted to everything cheaper because
that was to everybody's interest Mr. White dti
10, 4, see,ned agree with his party; for ];
was only a few years since the country was told
nv leading Republicans that the words cheap ana
nasty" went together. and that cheap ciothes
meant a cheap man. There was no justice 10 the
debtor who had made his contract under the bmet-
allie system to take away onehalf of the currency
of the country, and thus take away more than hait
., his nronertv No living man could justify such
legislation II Congress had the power now to put
this country (all obligations being ont or ee way
an a single standard, the issue might he fair
ono. but with debts to the amount OF eight Dill
tens due by the United States. the striking down
- IT,, one-half of the currency of the country
.o,,,d no not only unjust and ruinous. but abso-
iutey wicked. -, m q rar,, .,
Mr.. Hoar CRep.. Mass) TOOK up 'e','d,h ..
Air Vest about 1t being the policF Vi treat
britain TO have a single GOLD sldhua'u' "S oe'ns
. ,ho advantage of the wealthy ana commercial
,a ord asked whether such policy was not
-. ,ho disadvantage of the poorer classes ana
whether therefore il was to the interest," vi 's-
land TO keep the single standard b.
Mr Vest replied that that question WAS lar
wide of the real issue - A..
Mr. uoar-I understood the Senator to argue 'hat
a single gold standard "ci'" Wv
the debtor classes
NJ yest-I do say that. emphatically
Mr. Hoar-He SAYS that II he were an fhe'sil-
man he would be in favor OF the gnu ''
Tina, Is an important declaration corning iio'
Senator who has such relations to the financial
policy of the country because 1t is equivalent 10
declaration that under the circumstances we WIN
never be able to induce England to agree WIN
other nations for the establishment of bimetaiisn''
THE ATTITUDE OF FRANCE
Mr.. Vest replied to Mr.. Hoar. and also allowed
Mr.. Stewart to do So Then Mr. Vest criticised
Mr. Horace Whites article in 'The Forum. -
which denied that France was under the double
standard. France" Mr.. Vest exclaimed. mot
a bimetac country-with 225 100000 Of lega-tender
silver of reserve In the bank OF France and with
7O00OoOO standard silver dollars in the whole coun-
try, And yet France. according Mr.. White is
not bimetallic country
And to-day, Mr.. Vest declared. the French people
are financially the first people IN existence. The
French peasantry boarded their silver nvc-franc
1900. and 40 IN the United States the colorsd