The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1893-09-07
Silver Purchase Repeal.
Extracts from Speeck delivered In House
of Repre- sentstives, Aug. 1@th,
Inv Hon seth l.. MtlllkeD,

fellow-citizens, of whatsoever party o
creed, 10 effect the common veal. Tn
occasion is toe serious for tritling. 1t i
patriotism aud not politics that we wan
now.
The deplorable condition Of the bust
ness of the country has been clearl,
stated by the President, and is acknow
lodged BY all men of all parties. la
deed, it is too keenly felt, aud the pinch
ing fingers of distress make their i'm
pressions too painful to escape the sensa
tion Of the people. 7L6 b.. g..
The urgent, paramount question is
what is the remedy? Is there any rem
edy at all: If there be any, certainly
every good citizen desires that it shall III
promptly applied. He who would fal
ter now or allow any personal or partisan
consideration to stand in the way of |
return of that prosperity to the indus
tries AMI labor Of our countrymcn which
they possessed and rcioiced III prior t
the sth day Of last November, should b.
branded as an enemy to his fellow-citi
zens and his race.
Our sound-money Democrats, as they
call themselves, and as perhaps they
should be called, arraign the Sherman
silver law as the root of the great ev
which just now Expresses the country
They say that this law, which provides
that the Government shall purchase A.,
800, 900 ounces of silver monthly, has de
stroved faith in our currency abroad, in
our financial credit, and the honor of the
nation.
The question arises, why did not the
Sherman silver law have this effect when
T.. l. t. - Ia
that this law should be enacted without
disturbing our prosperous condition, and
continue to be the law for three years
without perceptibly affecting our wei.
fare at home or our credit abroad, and
now all at once precipitate the ruin OF
our credit abroad and an unprecedented
disaster to our industries at home:
Why, at this late day. after this law has
been so long the law of the land, should
it suddenly. and almost as with light
ming stroke, destroy the confidence of
our people so completely that money is
withdrawn from circulation, the banks
are depleted of currency and driven into
bankruptcy or suspension, the business
of manufactures curtaled or destroyed,
labor thrown out of employment, and
idleness, poverty, and distress made to
surround us on every hand. More banks
have shut their doors and suspended
business within ninety days than during
the entire twenty-eight years of Repub-
lican administration.
That the purchasing clause of the
Sherman silver law shouli be promptly
repealed, Internationally repealed, | dc
not entertain doubt. IL did not eX-
press the conviction and best judgment
of Senator Sherman and IA vast majority
of the Republican party. 1t was tut
thrown to the shark of free coinage OF
silver. In that respect it did its work
1t saved us from the free coinage bill
which had passed the Senate by a decid-
ed majority of the Democratic votes in
that body, and threatened to pass this
House by an equally great percentage
of the Democratic votes htle.
The difficulty with the free-silver al
vocatcs is that they attempt what it is
impossible to do-that il, to fix ana holii
Il price upon silver much above its mar
kct value and very much above what il
costs to produce it. That may be done.
to be sure, to the extent of the subsid-
larry currency for our own people. We
do it With nickel. We did it with cop
pe,' anu w. N t, .bich no ino.nuitv If
. ,u' ,.a, nvercn,ua convinres ne of
~ ? "'''I H., va, '.han we ,lone nttemnt IN
',,,i' IT,; nu. .;,a far ahovo II mar.
I'D i, ,ha ,.oSt nf Ire nroductiou
nv, r, ADJ" ''" nf avch,noa hatrenn our-
,',as a',I o,hor na,inns xa .ttemnt n
t,si, nh;ch hoth reason md exncrcncr
taanh ne ,h.t ,y. ,..,,, nor narform,
' Tha VI Shnrr"an law really does not enter
;,t,, .,,n ute, Wa ali believe If
.hn,,d h., ,onaalnd mo ,,t,,.l ouestion
81 ,a,,ta,,,;on il vhotbor tba1 law shall
no sunnlan,nd hv an act nrovidino for
10 ~ ,,';,,a,,of si1var Il, some S1,ue
~ ob,ll il no ,,ncondit;onaljv renenlrd.
Saw holieve in n bimet.ilic cur
,ono, No. and hne,nso beliave we shall
son,est " "nt tn II nv an unconditional re-
no.I i'' Of rho W n,r,:ha sing clause of the
Shorna, law shaIl vote fnr the reneal,
tha,' go sha,, ha,a ao,d ,.nough to do
h,,sinnss mr.. M ono wiIl have If
W. sh,,u oat onr share of Tho money
of TIM world whatevnr IT he whether
anld s;lvn, ~. nonn,.. for when we con-
SiIer o,,r v,st and varied resources. and
tho ,.,,,ah;l;t, Of o,,,. ,eonle to nrnduce
,ro o,n r. va sh,ll iariSlate wisely keen
tbe halanre Of trade most always in our
favor and ,hat viii Give us our share of
thn money nf the world, and more,
Thon II II he found that there ia NOT
sut,ic;ont cold for n circulating Medium.
thn st,;n,onr,, viii not he with ne so
much r IN as With others: and ENGLAND. with
The other commercini nations viii he
driven to agree With no mon some ratio
~ v.in. w. hn1ween GOLD and silver
" Tbat ia what ali bimrtallists desire.