St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-26
SILVER DEBATE.
Many Short and Pointed Speeches
Made in the Bankers
Congress-.
Western Men Favor and East
erners Oppose White Metal
Coinage.

CHICAGO, June 24@Lively debate
characterized the congress of bankers
and financiers today. The gathering
included number of able men, and the
speeches were short and to the point.
When Chairman Parsons raped for
order the hall was we'll filled. Although
there was no specified line OF debate,
there seemed to be one topic of general
interest, and the silver question
was taken up by every speaker.
Logan G, Murray, eX-president Of the
bankers association, opened the dis
cussion. Mr.. Murray attacked the
policy of issuing Understanding bonds
by the government. He then took up
the silver question, and declared vlgor-
ously against the free silver lnen. lie
said that if the silver standard were
adopted there would be no sale for
American securities outside of this
country. He added:
"ThiS country reached under its gold
system point of success unequaled by
another nation in the world. l was
told by President Harrison that he had
been offered par for 2 per cent bonds.
This is position no other nations
paper has ever attained"
W. III. Wills. of Gettysburg, Pa, was
the next speaker. MIR. Wills sailed into
the free silver men. 1.-The silver pur-
chase bill must be wiped out" ne said.
THAT is the only way to make this
country safe against these financial
disasters. AS long as that law exists
we will be in the hands Of foreigners,
and of our own silver men. There
will be difficulties in deprecated
currency. Let the national banks
issue notes against that great reserve
which is locked up in their vaults.
That will make sufficient currency to
keep up with the needs of trade and
commerce."
Congressman Bryan, of Nebraska,
made a warm speech Ill favor of free
silver. Mr.. Bryan spoke vigorously in
favor of his policy, and declared that
the adoption of bimetallism was the
only way in which to save the country.
Every political party included in the
platform last fall a clause calling for
the restoration of silver to its basis as
coin. There has been talk of Eu
ropean scare-any scare in Europe will
be caused by the united action of the
people of this country. Let us have
coinage that will meet the wants of the
people of this country. And
silver will meet those wants"
State Treasurer l.. V. Stevens, of
Missouri, followed in favor of silver.
Congressman Walker, of Massachusetts,
spoke vigorously in favor Of maintain
Ing the gold standard. He spoke
especially in reply to Congressman
Bryan, and was vigorously applauded.
''As was member of the committee
of the house which drafted the Sher-
man bill, | know something about the
way in which the bill was passed and
what it was meant to do. 1t was passed
with the intention to repeal when the
time came for such action. l confess
that when the bill was passed it
cost $l00,0G0,000 to S200,00Q,000. That
money came out of the rich
men, the moneyed men Of the
free coinage bill it would have cost
this would have come out of the work
three articles used by workingman's
family. In 1865 the same things could
cost 1901. Today they can be bought
for S121."
j. r. Vernon, of Rhode Island, made
a good speech in favor of gold and
against free coinage. He was followed
by j. D. Walker, of Toronto, OH the
same line. L. V. Coffene, of Wyoming,
upheld the free silver men, and made a
fiery speech. He offered to pay 95 cents
for all silver dollars offered to him, and
made strong point OF the lack of
offers. 1hele were other speeches, and
the congress adjourned sine die. The
life insurance congress also concluded
its session today.