The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-09-02

He Speaks Against the Repeal Of
the Sherman Law,
THE MONEY KINGS TO BLAME

The Veteran Carolina Statesman Says
the COLD Bugs Are Responsible for Our
Currency denominations Con-
firned by tho seunte.
WASHINGTON, Sept. The house bill to
repeal the purchasing clause Of the Sher-
man act got fairly under way yesterday in
the senate. It was taken up early In the
morning hour TO give an opportunity to
Mr.. Vance, of North Carolina, TO make a
speech against IT, MIR Vance is one of the
Democratic minority members of the
finance committee, and for an hour and
forty minutes he kept his batteries of wit,
humor and sarcasm playing upon the
measure and upon the members of his q "a
party for supporting and advocating it,.
He prefaced his remarks with the state
ment that the great law Of supply and de
mand operated in regard to money just as
1t did to everything else.
When money was abundant prices were
high; when it was scarce the prices of all
products were low Therefore, he that in
creased the abundance Of money benefited
production and advanced prices and
wages, though by combination and de-
fensive measures in many parts Of the
world wages are effected less than pro-
ducts.
The effect upon the condition Of man
kind which would follow the destruction
of one-half Of the currency Of the world
amounting in the aggregate to 81, 500 O00,-
600, it would be impossible accurately to
describe. Still this process of destruction
has been going on quietly since 1872, and
its result is seen in prices lower in many
things than has ever been known in the
memory Of man.
The speaker then went into the history
of the demonetization of silver He said
that this movement for repeal was the re
suit of conspiracy among the money
holders of the world. The method OF the
attack was by the creation of a panic The
departure of gold from this country some
time ago had been attributed to the Sher.
man law; if so, the Sherman law surely
brought it back, too Members Of congress
on both sides wanted gold and silver
coined on equal terms, according to their
platforms, so they stopped coming silver
The senator referred in most sarcastic
terms to the inconsistency of such actions.
If such an Interpretation Of the Demo
cratic platform had been announced dur
ing the campaign he was quite sure Mr.
Cleveland could not have carried n single
electoral vote south OF the Potomac river
Senator Vance acknowledged that the re-
peal bill would pass, but he asked what
would be done with the remainder of the
Democratic platform in the face of one
promise broken.
When he got through his entertaining
speech an effort was made to simplify the
further parliamentary line of proceeding
in the consideration Of the bill by having
the committees substitute adopted pro
forma, so that all amendments to be- Of
fered might be amendments in the first de-
gree instead of in the second degree, which
would tend to smooth and simplify mat
ters That proposition did not, however
suit the ideas or plans of Mr.. Cookrell, of
Missouri, who objected to it, and as it re-
quired unanimous consent, it failed, of
course, to be adopted From that point
on to the point of going into executive
session, a confused rambling colloquy
was carried on between Mr. Cockrell and
some Republican senators involving the
question of adhesion to or repudiaUion of
the Chicago Democratic platform. The
discussion was not ended when adjourn
ment took place.
The rules which will govern the proceed
ings of the present house were again dis
cussed yesterday without attracting much
attention, although at times the house
was on the edge of partisan debate. But
in each instance good humor took the
! place of bad blood and the clash of parties
was averted. No change of Importance
was made in the new code, and without
concluding its consideration the house ad-
| tourned.