The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-20
FAVORING THE REPEAL.
xxssRs. x'CRE<RY AND ozToHINGs
syEAR on THE WILsoS hill.
rope-DrAwn-out Discussion in the House
Of Reprssentatives-Th Speeches
at the Night Session.

WASHINGTON. D. c.. August 19.-The
silver debate was resumed in the House
,mncdlately after the reading Of the
Journal, and MIR. McCreary Oonl.. Ky)
took the floor in advocacy Of the repeal
q the purchasing clause Of the Sher-
man act. An extraordinary financial
atuauon. he sail. had induced the Presl-
don't 10 convene Congress in extraordi-
nary session. 1t mattered not how gentle
men might dTer in opinion as TO what
Rad brought on the trouble which now
sristed. They all agreed that the trouble
vas widespread. far reading and fun
OF peril 70 the whole country. They
ssreel also that it was their duty as
REPRESENTATIVES to find a remedy. 1t
might be that the Sherman act so called,
Was the prime cause Il the trouble. IL
might be that the fuctuatiOn Of silver in
Europe, the shrinkage Of values Ia many
uars OF the world, the failure Of the
naring Brothers had helped 10 bring
about the serious monetary condition
which now existed. He had voted against
the passage OF the Sherman act. That
act had been a failure and colossal
curse The purchasing clause or the bill
should be Immediately repealed II should
be repealed uncOndiuonally Let the
Free Coinase bill stand on It's own merits.
lie was not in favor OF holdlns the
sherman act as a hostage for the free
coinage Of silver. lie was heartily In
favor Of the Wilson bill. Let the pur-
chasing clause be repealed, and then
other legislation could follow II mans 8
house was on FIRE he would not stop 10
decide whether he would use the cistern
water TO eXtnguish il or wait TO eau
upon the ire department He would
hasten 10 extinguish the flames Let
Congress repeal the purchasing clause,
and then enact other legislation. The
Wilson bill did not demonetize silver or
strike down the double standard. He
NlcCreary) was here as a friend OF sill
yer. and not as its enemy. He was In
favor OF international bimetallism. He
WAS in favor Of the repeal OF the Sher-
man act. because such action would be
the best thing that could be done 10 help
ON an international agreement. To-day
England hoped that the United states
would adopt a free coinage bill, and
would come to a silver basis. because
then she would get our S6e0o0'W0 or
gold The United States could not az
Cord 20 adopt a free coinage policy now.
$50 country alone could maintain such a
coinage. The only path to free coinage
was through international agreement
and the only way TO reach that pain
WAS to repeal the purchasing clause or
the sherman act. AS a bimetallist, ne
I.B NOT wish 10 see this country rele-
gated to q silver basis.
TO an inquiry from Mr.. Bland why the
International monetary conference had
nosfponed SIS meeting from May until
November. Mr.. McCreary replied that IL |
had been POSTPONED in order 10 allow the |
rolcv of bime alllsm 10 grow IN England. |
It had been postponed in the interest OF |
.nreiallism. Ar. McCrcary expressed his |
rarret that the question Of n change OF |
ratio between gold and silver had been |
Infected into this discussion. He had no |
sympathy with those who now desired TO |
change the ratio from l6 TO D 70 20 to 1. |
TO change the ratio would be 10 strike |
down and destroy every prospect of inter |
national agreement To change the ratio |
would be 20 dscredit every dollar Of sill |
yer in the United States The FIRST duty /
az Congress was to act without delay and |
repeal the purchasing clause Of the Sher-
man act; the second duty was 10 let free |
coinage alone for the present; its third |
duty was 90 stand by a patriotic Presi- /
dent IN his efforts 10 advance the interest |
of the people and the welfare OF the ma
ton.
Mr. Catchings Oem., Miss..) said that
he would vote FOR the unconditional re-
peal Of the purchasing clause Of the Sher-
man act, and he would vote against any |
proposition, directly or indirectly, looking /
fo the free coinage Of silver IN this coun-
ry az this time at any ratio that could
Dee suggested lie had come 20 this deter
minauon after careful consideration and
after careful study OF the Chicago plat
form. IL had been said that no Democrat |
could vote against free coinage. lie was
u
as that Of any man on this floor and he
would not allow any man 10 challenge or
question it. lie stood by every plank OF |
ihe Chicago platform. but that platform |
4'i not demand the free coinage OF sill
YER al this time lie reviewed the sill
'er legislation of the country and ex-
pressed his opinion that the act Of 1913.
m'scailed demonetization act. had not
1emonetized one dollar OF silver in the
whole globe
II We threw our mints open to the free
coinage Of silver would not the experience
or india be repeated in this country
and would not there toe repeated here n
gan In the value Of the silver dollar? THE
nited states was the greatest nation
IN the race OF the globe and contained
he proudest people Every man who took
a silver dollar to-day knew that his
great and proud people did not intend TO
laNe IL deprecated in value. Every man !
who took a silver dollar knew that IL
would be redeemed. even II the Govern
nent had 10 issue bonds TO draw gold
rom other countries. The silver dollars
Tere obligations of the Government Just
rs were the grecnbacks. The reason that
he world did not take silver was that
he world did not want il, except in
limited quantities. He was in favor Of
Poe repeal OF the purchasing clause of
ne sherman act because il would tend
20 restore confidence. lie would go
.lrihcr and say that IL would restore
confidence and unlock the money that
lal been boarded up. TO the Sherman
.ct he attributed the present depression
.ir fid not believe thar the failure OF
me Barring Bros. was responsible for the
panic I'M this country. There was no
panic IN England, which would naturally
le hrst affected. lie did not believe
'tl the panic was attributable TO the
ANlre Of Australian banks There was
9 panic In Australia or in Great Britain.
ne therefore disregarded both these
vents as being the cause OF the situation !
Y which the United States found itself
hr contended that IL was absolutely inn
ible for this country. single-handed
"i alone. 20 drag down the price Of
'od and enhance the price Of silver.
iir Knew that his peOple-the pfople
y nom he represent ed-wOuid credit him I
Vim hOrfNfy and cfngarifv Of |