Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-08-26
THE SILVER DEBATE.
synopsis of the Discussion in the United
States Congress.
IN THE HousE


the s S"e act The error, he said, had taken
hold Of the public mind that disaster was bound
TO follow from the accumulation OF silver bull
lion In the treasury. This fear had been sup
plemented and voiced by the president Con.
.gress should intervene to give some measure
of relief TO the people by changing the financial
policy.
Mr.. Cooper dem, Fla0 would vote for tss
Wilson bill and against each and every one OF
the propositions presented by the silver men.
He argued that the Sherman law was the cause
of the present depression. The want OF public
confidence nad caused the runs upon banks,
had caused the failure Of substantial bank
ing institutions and had brought about
the present financial stringcncy. The demo-
cratic platform at Chicago had declared
for the coinage OF gold and silver at an equal
intrinsic value and the man who stood now for
free silver undertook TO override the demo-
cratic platform. He was ready to support any
measure which would bring the money of the
people out Of its hiding place and would place
the currency on stable basis, but he did not
believe that the country could safely provide
for the free coinage OF silver at the ratio Of 20
to l.
Mr. Goldzier tdofn.. ND paid considerable at
tention to the millions of savings bank de-
positors of the country, who, he said, were q
creditor class just as much the despised
Wall street bankers. He took issue with those
financial experts who presented figures show
ing the contraction of the currency
Mr. Goldzier said that 1t was
not the contraction of the curren-
cy but the contraction of public
confidence which created the present business
depression He was emphatically for repeal
On the 18th Mr. Sbey dem, Pa.) spoke in favor
OF bimetulllsm and the Johnson interconvertible
bond proposition. He said the time had come
when the clearing houses OF the great cities
should no longer dominate and control the pol
icy OF the 81 100000 workers Of this land The BIZ
metallistS were as anxious as were the gentle
men on the other side to put speedy end to the
and md 1Na
attained here and now by enactng in law the
Johnson proposition. One cause OF the present
panic was the Reform club. OF New York, which
had attempted to fix up the tarin before the
meeting OF congress, The New York bankers
were also responsible for the panic. The de.
mand for the extra session of congrese had not
come from agriculturers laborers, but
from the absorbers OF the country's
wealth; not from the 81 100000 OF
American citizens, but from the 2400O
who had acquired half Of the national wealth
and wanted as soon they could the balance
of it. The demonetization act Of 1873 was q
traitorous act and along with the names OF
Judas Iscariot and Benedict Arnold would be
placed the names OF those who were guilty OF
the crime Of 1873 In the speakers opinion the
salvation of the country depended upon the peo.
pie who were living west OF the Alleghenies and
south OF Mason and Dixons line
Mr.. Everett dem, Mass spoke in favor OF
repeal. He said the democratic party was
called upon to meet great crisis Mr.. Clevc-
land was n great leader, and he was ready to
support that leader. He did not care who
responsible FOR these present difficulties.
When a great city was on fire no one cared
whose old womans had kicked over the
lamp, Every one wanted to put out the fire,
but the responsibility to extnguish the hre
rested with the democrats
Mr. Haines tdem., N.Y. said he was amazed
at the attacks made upon Wall street They
We're pure demagogism attacks :he
financial system of the country. Wall
street the savings bank OF the ma
ton; IL was TO Wall street that the various
sections OF the country sent their loanable sur
plus, and from there that surplus was distrih.
uted throughout the country where capital was
needed for the development OF every industry.
Mr.. English dem, n. J) took the same
ground, But while he would vote for the re-
peal OF the purchasing clause he did not hold
that that repeal would be panacea for all our
evils; that 1t would restore the confidence
which the people lacked. He thought the pres
idents sagacity was suficient to know that the
mere repeal of this measure would not relieve
the people; he had confidence in the presidents )
honor that at the proper time he would redeem
every promise Of the Chicago platform.
Mr.. Simpson pop, Kan) spoke in favor OF
free coinage He severely criticised the demo
cratic party for its absolute uselessuess. Who
ever had heard OF the democratic party ever re-
pealing law or making law. There was no
democratic party any more, / was
President Clevelands party He also paid
his sarcastic respects to the republ'
party, and charged the present depres-
sion OF business to republican legislation
Mr. Morgan dem, Mo- and Mr.. Talbcrt dem,
s. O. advocated tia free coinage Of silver
On the 18th Mr.. McCreary (dem., Ky) spoke
for the unconditional repeal OF the purchasing
clause Of the Sherman act, and argued that the
poStponement OF the meeting OF the conference
was in the interest OF bimetallism. He was here
as a friend OF silver and not rs its enemy. He
was in favor OF international bimetallism The
United States could not afford 10 adopt free
coinage policy now. The only path TO free coin
age through international agreement and
the only way to reach that path was to repeal
the purchasing clause OF the Sherman act As
bime tallist he did not wish to see this coun-
try relegated to n silver basis
Mr Catchings dem, Miss) said he would
vote for the unconditional repeal OF the pur-
chasing clause OF the Sherman act and he
would vote against any proposition directly or
indirectly looking TO the free coinage OF silver
in this country At this time at any ratio that
could be suggested He stood by every plank
OF the Chicago platform, but that platform
nowhere demanded the free coinage OF silverA
this time. The repeal OF the purchasing clause
of the Sherman act would tend to restore con-
tdeuce.
Mr.. Livingston dem, Ga) favored bimetal-
lism, and the plain question now presented was
between single gold standard and bmetalism.
He denied that the purchasing clause was re-
sponsible for the present financial and business
trouble. The banks and the bankers were now
the calnmlty hOwlerS, ana not the farmers, VINO
had been squeezed until there was nothing more
10 squeeze from them He made the prediction
that il the purchasing clause of the Sherman
Hct,wsre repealed the price of products in this
country would not be increased.
Mr.. Richards dem, o. believed that Presi
dent Grover Cleveland was right in nttributing
TO the purchasing clause OF the Sherman bill
the present business depression
Mr.. Curtis rep, Kan) spoke in support Of
the Wilson bill but in u conservative manner,
He was in fayor OF ratio of 20 TO l, and he
would then establish commission with author
ity to change the ratio Ut any time IL was found
to he too large too small. Then let the sec
retary OF the treasury be authorized to coin tht
silver bullion now in the treasury.
Mr. Broderlck rep, Kan) spoke in favor OF
bimetallism and prosperity, which terms he re-
Rarded as almost synonymous The great mass
OF the people had no voice in the liking OF the
financial policy. and the United States should
not be coerced on this question by any other nu
ton