The herald., 1893-08-17
THE SILVER DISCUSSION.
1t Takes On Deeper Interest
in the House.
Bryan of Nebraska Wins New
Forensic Laurels.
His Appeal for Free Silver Eclipsed
His Great Tariff Speech.
Financial Debate Is All the Go in tho
Senate-Hoks Smiths Paper Ad.
vocates Free Bimetallic
Coinage.
BY the Associated Press

BY the Associated Press
WASHINGTON, Aug. l6.--The financial
discussion in the house took on deeper
interest today than ON any occasion
since the opening of the silver debate.
William J. Bryan, the eloquent young
congressman from Nebraska, added
greater laursls to his reputation as an
orator and made free coinage speech
which, in the opinion of many, sur.
passed the great tariff speech which
gave his name to fame two years ago.
For nearly three hours Bryan held the
interested attention of the house and
galleries and every interruption to which
he was subjected only gave opportuni-
ties for those brilliant bits Of repartee
for which he is go famous.
The morning hour, after the introduc.
ton of bills, was largely occupied by
discussion as to the overlooking of gov
ernment buildings in Washington with
public books and documents, West
(Dem.) of Missouri, proposing remedy
by the passage of bill appropriating
$500, 900 for a building to be known as
the hall of records.
The silver discussion was opened by
Mccall of Massachusetts, who made an
elaborate argumsnt for the repeal OF the
purchasing clause of the Sherman act
and denied that such action could be
Justly construed as an attack on bimet-
allism.
Coombs of New York, speaking for
repeal, highly commended the presi-
dents message, which, in his opinion,
never had been surpassed by any state
paper.
In opening his argument against the
unconditional repeal of the Sherman
law, Bryan said, upon the action of
this congress might depend not only the
welfare of the south and west not only
the welfare of the United States, but the
welfare of humanity itself for ages to
come. Some outside Of this hall bad
assumed that the recommendation OF
the president imposed some obligations
i upon the Democratic members to do as
he desired, and some had even been
hardy enough Stolsuggest that failure to
fall in with his recommendation would
subject the diesenter to administrative
displeasure. Bnt these persons did the
president great injustice. The presi-
dent would not for a moment forget the
independence of the two branches of
congress. Let the presidents own
language rebuke those who would
from false fealty change their
convictions upon the subject in order to
conform to his suggestions. II the
United States, the greatest silver-pro-
ducing nation, should abandon silver, 1t
would in all probability lead to the an
initiation of silver as standard money
throughout the world. The only law
making any provision for the increased
use of silver money was the Sherman
law. The president recommended its
unconditional repeal. The Democratic
members were under no obligation to
adopt his recommendation, sfncs they
were responsible to their constituents
only, and were in duty bound to protect
their rights and regard their interests.
Continuing, Bryan said: 1--WE are be-
ing dragged toward universal gold
standard-to realm over whose door 10
written: Abandon hope all ye who en-
ter here.' There is no such thing as an
honest dollar, because an honest dollar
would always have the same purchasing
power, and the government never at
tempted to secure absolute stability in
the dollar. The most dishonest dollar
ever proposed ia that which the child of
avarice and ignorance calls the gold dol
lar, for it will constantly rise in value
and cheat the debtor. While we
cannot secure an absolutely honest dol
lar, we should approach it as nearly
as possible, and bimetallic standard
ought to be adopted, becauee with bi.
metallism he money unit fuctuates less
than under a single standard. Interna-
tional bimetallism is desirable, but not
necessary and not probable. Other
European nations wait upon England.
Englands interests lie in the direction
OF gold standard. To make our ac-
tion dependent upon hers, allows her to
legislate for our people and is an abdica-
tion OF the right OF sslf-goverpment.
We believe that the restoration of the
right of free coinage, as it exigted pre-
vious to 1878, would raise the prize Of
silver bnllion to 129 cents per ou1ce
throughout the world, and render un-
necessary any change in the present
ratio. The Sherman law IN not the
cause of our financial stringency. The
moneyed men of the east, without in
tention, OF course, started the panic by
exaggerstug the dangers Of gold expor-
tation. Wnen the panic came they
were injured as much as ,any body els6.
The trouble now is that depositors have
! Withdrawn their money for fear of the
banks and the repeal OF the Sherman
law will not increase the solvency Of the
banks'
Then Bryan spoke in favor of the re-
tention of the ratio of 16 to 1, arguing
that the increase OF that ratio would be
detrimental to an International agree
ment as to the coinage of the two metals,
and continued: THE president has
been deceived. He said in his message
that the people demanded the repeal Of
the Sherman act. He had heard from
boards OF trade and from chambers OF
commerce, but he had not heard from
the farmers or the men in the work
shops, and he could no more judge of
the opinion OF the people tnan he could
measure the oceans depth by the foam
on an ocean wave. The president was
elected upon a platform thrice pledged
| to gold and silver coin&ge OF the consti-