Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-08-31

| pOh6S OI COluhK6. LILO CUuI0IG6g tn
house agreed upon their differences and IL
Bland-Allison act. Mr.. Sherman reminded
| senator's that when they criticised the Law
| that was misnsmed after him they SHOULD
remember that this law now on the statut,
books was far better than either the house
bill or that passed by the senate.
The president had, Mr.. Sherman said se
forth the decline in the value of silver, bu
be failed to give the causes of that decline
If he had taken a BROADER view of the
causes of that decline he could have ex
| planned 1t all. It WAS due, Mr.. Sherman
| said, to the fact that we were called upon
| to pay our debts, debts payable in gold.
After discussing other matter, contribut.
| ing to the present condition, Mr.. Sherman
declared that an erroneous impression had
been created when 1t was claimed that the
Sherman law was the cause of all the
trouble, and this he said with all due de-
ference to Mr.. Cleveland. Still the fact
was that congress must deal with situa-
ton and not measure.
He believed in 'giving the devil his
due" and was ready to stand by the law,
not as measure IN which he took any
special pride, for he was compelled to yield
in order to prevent disastrous legislation.
But without this law what would the coun-
try have done in 1891 and 1892 had it been
called upon then to meet the difficulties
now staggering usl
He was not a new convert to the repeal
of the law, and year ago he had intro.
duced bill to suspend the operations of
the law. 1t was worded almost exactly
like that of Mr.. Voorhees,. Why did not
the democratic senators then see the dan
gers they now see and come to the help of
the republicans when they sought to sus-
pend the lava Not democratic vote was
had then, and democrats must answer
why.
This was a currency famine, not fear
that the money of the country was not
good, and the people should not be de-
ceived as to the reasons for the repeal.
Mr.. Sherman did not believe the repeal of
the law would any considerable degree re-
lieve the country from the existing stagna-
ton. Its repeal would ease the money
market from the dreaded fear of the free
coinage of silver. The law was denounced
by the democratic party as miserable
mskeshift. 1t was mskeshift, and
good one, intended to prevent the ills
growing out of the free coinage of silver.
The democratic party was now charged
with great responsibility, and Mr.. SHEER
man warned them that If they attem pied
to alter the existing tariff laws they would
plunge the country into deeper distress
than now exists.
Mr.. Sherman then began discussion of
the various coinage laws of the United
States, with special reference to the act of
1878, which had, he said, been the subject
of so much misapprehension and false
hood in this debate. He denied Mr.. Voor-
hees' statement that the act (the act of
1879 was "stealthy demonstration"
Mr.. VOORHEES, replied that he never in
tended to refer to the senator from Ohio,
for four years ago he had effectually cleared
himself from any participation in that mat
ter.
Hereafter" said Mr. Sherman, when
any man makes such q statment about this
legislation I shall simply say that it is a
falsehood and band 1t so.' ut is strange"
added Mr.. Sherman. "that on the vote on
this bill the distinguished senator from Ne
vads (Mr. Stewart) voted for it, and 1,
this devilfish,' voted against It,"
The last remark WAS in reference to an
epithet applied to Mr.. Sherman during the
debate in the house last week.
Mr.. Stewart retorted that in due time he
would explain how he came to vote for the
bill.
"There was nothing surreptitious about
1t" said Mr.. Sherman, with warmth, land
no fact can be proven more clearly. The
statement SO often made to the contrary is
falsehood and lie; I care not by whom
made. I sometimes said that General
Grant knew nothing of this demonetiza-
tion," continued Mr.. Sherman. "What of
ita General Grant was not financier; but
his secretary of the treasury wrote report
urging the passage of such bill In the
face of such report how could members
of congress plead ignorancep He said he
would rather stand here and cay he voted
knowingly and understsndingly than shirk
the responsibility by pleading the baby
act
Mr.. Sherman caused general laughter
among senators and in the galleries when
he quoted from one of Mr.. Stewards
speeches in the debate on the bill he was
discussing, in which he (Stewari) said "gold
is the universal standard of the world"
and urging In favor of the gold dollar as
removing every element of doubt in fixing
values and enabling the workingman to
know exactly what his labor was worth.
The purchase of silver by the United
States when all others had stopped it was
an improvident use of the public money.
Instead of striking down silver he wanted
to build it up, but it could not be done by
the United States alone. He believed the
best thing to do was to suspend the pur-
chase of silver and devote attention to the
| needs of the hour. He would give the
party in power authority to protect the
| credit of the government at home and
abroad and after waiting to see what the
efect of the policy was, and the further
efforts of an international conference, the
present clouds of gloom would disappear.
Senator Stewart, at the conclusion of
Mr.. Shermsn's speech, said he would give
the "true history" of demone.iz next
Tuesday.
| The repeating bill ION which Mr.. Sher.
man had spoken) was laid aside, and the
national bank circulation bill was taken
up to allow Mr. Teller to finish the speech
which he had begun yesterday. Mr..
Voorhees, gave notice, however, that he
would, to- morrow, ask the senate to sci
aside the pending bank bill in favor Of
the Wilson repeal bill as reported to the
senate.