Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-09-13

cold alone. shall be the sole medium OF
ultimate redemption. are TO completely
and absolutely destroy the policy Of the
founders OF the government, and confine
silver as money metal to indefinite over
throw.
Was the Senate prepared 10 abandon
the policy plainly outlined I'm the Con-
stitution and avowed by every political
party that has existed since the foundation
OF the government? IL It was prepared to
do that, upon what authority? BY what
command? Under whose direction and by
what inspiration? Had the legislature OF
any state mcmorialzed I'm favor of It?
Not one. Had the people OF any political
party IN any state convention declared
In favor OF the decentralization of silver
and Of a single gold standard? No declara-
tion OF any such policy could be found in
the platform OF any political party.
He denied that the Sherman act had
been the cause OF a panic. The causes
leading up to 1t were In part worldwide
and had their origin. not In this country,
but in speculative dealings between Lon
don bankers and the people of South
America, which resulted-through the
Argentine bankruptcies and the fall OF
securitles--in bringing ruin TO the doors
of the Barings and ali other moneyed
institutions.
The fear OF tariff revision and OF the
Inauguration of free-trade policy had
also much 10 do with the panic. Senators.
he said. had been told that 1t was lack
OF confidence that precipitated the recent
panic. Lack OF confidence in whom or In
what? The trouble was in very large
measure started by the banks. The
bankers OF England early I'm the spring
nudged the bankers Of Wall street and
intimated now is q good time to forever
set the seal on %bimtallsm under the
pretense of repeating the Sherman act.
The howl was started. The New York
bankers nudged the Chamber of Commerce
OF the city Of New York and the metro
politan press. The Chamber Of Commerce
in turn gave the cue TO Boards Of Trade
and Chambers OF Commerce throughout
the country The howl started in perfect
unisOn-all inspired across the seas-and
finally the thing got away from them,
proved n boomerang. and the banks
suffered along with the rest
After MIR Mitchell had spoken an hour
and a half TO a very small audience of
Senators. the absence of a quorum wns
suggested by Mr. Stewart A call of the
ron allowed Mr. Mitchell needed brea tn
ing space, and resulted I'm the gathering
Of Senators from committee rooms ana
cloak rooms until ffty-three OF thom
hiioNfifA ~ Ai'll iiNiitSs anu Intn MI.
Mitchell went on with his spccch. lie
closed his argument at 800 having held
the floor exactly three hours
Mr.. Hawley (Ropublican OF Connecticut.
declared himself for the pending bill. first.
last and always. But there was one zen
eral statement which had been iterarcd
and reiterated until he was tired II It:
and that was that there was somebody
who believed in the total destruction Of
one-half OF the currency of the world.
His friend from oregon had talked about
the disappcarlnce-the permanent 1isuee
of silver. There was not a Senator in
the chamber who believed that 1t was "A
terrible mis-Statcment II was a sophis-
tiCal statement. IT was n false state
ment. Everybody knew that silver 1ad
been used these thousands Of years, with
gold: and it would continue to be so used.
and Of that all Senators were in favo~.
Everybody knew that. although Great
Fritain was the champion monometallist
country the people Of that country car
ried more silver in their pockets than the
United States people did.
Mr. Mitchell: DO you think that legiS-
lation in regard TO silver is necessary in
order TO carry out those views?
Mr. Hawley: Yes.
Mr. Mitchell: Then why do you want
the Sherman law repealed?
Mr.. Hawley: / want it repealed. That
Is all. We started with a determination
10 repeal it: but If you take to patching 1t,
or 20 schcming you simply kill the prop
ostion That IS all. If you want to dc
a thing. do it, and don't hint around st.
Mr. Hawleys remarks brought him into
n controversy with Messrs Mitchell, Tel
Ter and Stewart, much of which %as
merely a personal dispute, and was with
ont reeulf-