New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-01
THE SHERMAN SILVER LAW.
EX-CONGRESSMAN WALKER TELLS HOW
AND WHY IT WAS PASSED.


one of the Committee of Conference on the part
Of the House which framed the silver bill Of July
IA. 1890. known as the Sherman Silver Law.
hereby give you statement of how and why II
was framed. and the opinions held and expressed
in repard 10 the proposed law by those who
drafted il at the time il was framed.
Tho House had passed bill providing for
larror use of silver by the United States. The
bill was amended in the Senate by striking ont all
after the cnacting clause. and substituting u bin
for the free and unlimited coinaIc of silver b.,
vote of forty-two TO twenty-five. That bill vas
sent to the Committee on Coinage and reported
back 10 tho House with recommendation that
the House insist on its bill and ask for Commit
tee of Conference. The vote in the House, sub
stantially on the free coinage of silver as provided
in the Senate bill. given. however, on subsidiary
motion. was l3j yeas and l52 NAYS. One hundred
and sixteen Democrats voted for free coinage and
nineteen Republicans One hundred and thirty
Republicans voted against free coinage and twenty
two Democrats
The House Committee OF Conference appointed
by Speaker Reed was Congcr. Of Iowa Walker.
Of Massachusetts, and Bland of Missouri, the lat
ter of far more ability than Eastern mcn give him
credit for, and 'as thoroughly familiar with the
literature of tho silver question a. any of its adj
vocatcs On the part of the Srnat" Sherman OF
Ohio Jones. of Nevada, and Harris, of Tennessee,
were appointed, all among its very abest mem
bers Jones' Harris and Band were most deter
mined advocates of free coinage, Sherman, Congcr
and Walker as determincdly opposed
On the day OF the appointment Of the commit
zoe the sound money members felt that at least
three voters ont Of five in the country would prob
ably have voted yea hal the question of free and
I,p,itf TOD
vote They also felt equally assured that if the
members OF Congress could be kept from rrevoca-
blv committing themselves by a fair and square
vote for bill providing for the free and unlimited
coinage Of silver until after the next Presdentia'
election the results Of the election would
make tho passage Of free coinage bill impossi-
hle They were equally assured that OF the 332
members OF the House a majority Of at least forty
did not pcrsonally believe in the policy OF the free
coinage of silver, while majority OF the
constituents of at least sixty members VINO
could be relied upon 10 oppose the free COIN
age of silver by indircction earnestly desired H.
4 part of them had already voted for free coinage
in many rou calls, and al least forty OF atty OF
the sixty would feel compelled TO vot" for 1t were
the issue squarcy brought before them l'N
would thus be compelled AZ IN" next clec'ioh 10
be emissarics of the fr.c coinage propaganda III
their desire to i've returned to congress-. Inc
,nor,list may condemn this state OF things as he
will The average Congressman iuStiheS hims"N
In such actions by saying that this is n Govern
ment Of the people. h. the people for the pco-
nlc" and that IL j. the right or duty OF '"h-
gressrnan :, violate his personal conVctioh oN
voting for 4 law that the majority OF MS COIL
s,i,ncnts demand. although h" may be p"r'onaiiN
opposed TO il. The purnose OF M'sSrs. Sherhah'
oongcr and Walker in framng th" law was clearly /.
s,o,oI in the conferences and the result OF the
hill they m med was as clearly seen ana ~ ac
cura,cly stated by each of them IA any one OF
them could now state II after watching It's opera
tion for nearly three wears.
Tia, President Harrison would veto troe
coinage bill WIS believed by all Of us. That
free coinage hill 90 Ia not he passed over his
veto in the List Congress was also be-
lleycd but that nearly 90 per cent. Of tn" then
o.,.ting Uouac and Senate would he added 10
IN. nowerfnl and determined missionaries III the
interest Of sound money If that question should
come 70 n direct vote on passing free coinage
hu over the veto OF tho President and thus
wculd b,. by the logic of events. IN defence OF
their action on the silver question, thrown over
% tho side Of the advocates Of free coinage, was
also believed
We believed them as every one OF Ms knows
now that the silver law OF July IA, 1890 would
,oLo ,ho issue OF to-day what il IL, namely, the
s,rupgL. 20 repeal the purchase clause OF that
law. which is sure 10 b. done by til" present
Congrcgs il special session l. not c'll'd' IN
s.cad Of fhc country's now being in III" thro's OF
n most desperate and exciting financial Crisis ana
controversies any country ever saw, III an ehor'
70 ropcal n free coinage Of silver law Wh"" WV
hc,;cved would I've enacted In the Lid Congress,
I,,t ola stir $50
law =,
Of coursc Mr. Sherman presided az IN" con-
,,rouccs I NAV as well say here TINT Mr. Shrr-
man from beginning TO end Of the conferences,
simnv acted as a presiding officer, taking scarcely
,. n,r, in the discussions or course, nothing
- H. M vyi,hout his consent and the most re-
l,ct,ut opproval Of all Of us. From Mr. Sher-
mans great ability experience and position n" Is
ius,lv entitled TO the credit given him Tor tl'
onactmcnt Of the bill.
Al the first meeting OF the managers upon '"'
mart Of the House and Senat" the stock arg"
mcnts upon each side were rch"arsrd Tor NV" OF
three hours The meeting then adlonrhn UNIV"
,i,o roxt day The nc\t morning HE two minor
H.. ,.,,r,.r, az rho committee Mr-srs. Harris ANA
,.id a. j. the custom were notified that that
mcctn. had been adjourned, anu the Ionr "'p""
ljcnnS met informally 10 80" II they oo"lo aS''
IN = compromise measure There was thorough
interchange Of views, but no decision was r'achf"
AZ the adjournment of the conference 'ohN"h
i.ntlv forgot my hat and con'rIy'd mat WI,
Jones should leave the committee" room nf''' ro'
lowing him pnrt way through the rotnnd'' went
lccl fer il. locking the dcor brhind p"' III"
ucdiotck REMARKED ~ M~srs. ConS'f anu '"''
man: We are practically in accord on tn' ''''"
cial and coinage question. lhdoup''uS Nv"
enc of NJ has decided in his own nnh' """ '' -,
he WILL 90 in any compronlS" h''S"' w
propose. and, rather than 10 VASE o"' ' 80
t.ha,c We had better each of us frankly sta'' ~
,le other, what his position Is. lo' my part WI"
o,,..,o,, to M compromise OF legislation Nlat-
a ,.,iIo I an, , mcmb.r of Congress that d"eS
NOT ,lothr tl. Secretary Of H." Treasury Win