The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-07-23

ST LOUIS, July 22.-"We will repeal
the Sherman law with free coinage bill,
is the way Representative Bland stated
me program OF the silver advocates today.
Continuing, Mr.. Bland said:
Whatever panic we have is due, in
great measure, if not entirely, TO the
threat of Wall street financiers that they
would bring on panic or monetary
5tringency III order to accomplish the de-
monetiZation of silver. The proposition
now made to avoid panic and to restore
prosperity is the repeal Of the Sherman
act. The unconditional repeal of the act
would be regarded by the world as the
total demonetzation of silver, which
would have the effect to at once widen
the difference between the bullion value
Of gold and silver The further deprecia-
tion of silver would then be seized upon
by the advocates of the gold standard as
an insurmountable objection to lis restora-
tion. They would demand that the ratio
for silver TO gold be measured by the
depreciation of silver occasioned by the re-
peal Of he Sherman act Say what you
please against that act, and no one can say
more against ii than ! have, its uncon-
ditional repeal would say to the world
that this, the greatest of all bimetEllic
powers, had finally discarded silver. This
would cause a silver panic throughout the
world and heavy decline in the value of
that metal. 1t would bring on the severest
financial panic this country has ever had.
1t would intensity rather than relieve the
present. financial trouble.
Il believe that the present panicky con-
iitiOn Is the result of conspiracy, and
that the condition is attributed TO the Sher-
man law in order to bring about its nn-
conditional repeal. do not believe that
the unconditional repeal of the act can be
accomplished. Our policy will be to offer
asubstitute. The president and his friends
are not opposed to the Sherman law for the
reason that it is a bad silver law but sim.
ply because it is silver law, and they
would for the same reason be opposed to
any and all silver legislation. We are op-
posed TO the Sherman act because it is
bad silver law, and we want to substitute
good one for it. That is the issue, and
the only ISSUE that The extra session will
have to confront it.
GENERAL WARNER
CHICAGO July 22.-General A. j. War
ner OF Ohio, the active spirit in calling
the bimetallic convention which meets in |
Chicago Oh Aug. |, is at the Grand Pacific
hotel IN conference with silver men on the |
arrangements for the convention. General |
Warner said:
The battle for bmetallsm has been j
Fought IN the forum of the world. The |
argument stage is passed. What is needed |
Is decided action. We expect large con- |
vention. There will be many men present |
--men who understand the subject thor |
oughly. The country is aroused as it |
never was before. A sense of alarm is |
manifest all over the country at the |
possibilities of the establishment of a |
single gold standard. The present financial |
condition Is largely artificial. and amounts |
10 public crime. The gold men should |
I'LL ,,aaat. 4
who Is made TO believe that the present |
money strlngency Is due to au increase of |
ii, 100000 monthly under the Sherman
law"
Speaking of the much-mooted question
of The repeal of this law. he said: at will
not he repealed without satisfactory
substitute.
GOVERNOR STONE.
KANSAS CITY, July 22-Huudreds of
Democrats met at picnic at a park near
here today under the auspices of the
Aurora club, and listened to red hot
free silver and low tariff speech by Gov
ernor Stone. In opening his speech the
governor launched forth into Il strong low
tariff plea. He told why cotton and other
products were low-because England fixed
the price. Then lie lauded President
Clevelands tariff message and told how
the county had awakened in 1890 to the
lists and 10y class legislation for years. He
then referred in glowing terms to the great
tarlh-reform victory of last fall In bitter
words he spoke of the sudden change in
policy and issues in four months. aud de.
ciared, hotiy that tariff reform had been
lost IN the shuttle. The Mckinley law"
said the governor 'is still on the statute
books and seems likely TO remain there for
possibly years TO come We're we lying
taen, when we attributed all our ills TO the
high protective system or, are we lying
now. when we lay everything to the |
Sherman law There Were hard times be-
TORE The Sherman law was forced through |
congress 10y Tom Reed. The farmers of
the west had complained of hard times
ten years ago
The governor gave a history of the
passage of the Sherman law, despite the
protests OF Mr.. Bland and other bimetel-
lists, of whom he was one at the time
tie then declared that the present silver
fight was the result of "A deIiberste r,pr.
pose of Wall and golabug bankers to com
pei the issue of gold bearing bonds 10 buv
which they would have no trouble in find
ing money, and TO secure the absolute de- !
monetlzatlon of silver aud TO nostnoua
indefinitely tariff legislation. lie declared
that WITH silver out of the way the eastern
oohsllrators would raise new issues and
produce fiurrleS. SO as to keep tariff re |
form down. Ia closing he nredicted
harder times than ever Il silver should be
demonetlZed, and declared boldly that tbe
Tree and unlimited Coinage OF both silver
and gold, with the tariff reform nledoas
carried out would alone bring general
prosperity.
SILVER PURCHASES.
WASHINGTON, July 22.-Secretary Car
lisie this morning authorized the Asso-
al 4