The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1893-08-28
REED ON REPEAL.
The Ex.Speaker Of the House Tells
What Ii the Matter with the
Country.
1t Is Not, In His Opinion, Entirely the
Sherman Law That Is to be
Blamed.
That, However, IL an Irritating Cause
and Should be Speedily
Removed.

and Should be Speedily
Removed.
WASHINGTON. Aug. g. The last day
of the silver debate In the house began
with large attendance on the floor
and in the galleries. The first speech
was made by Mr.. Clarke (Dem. Ala.)
who spoke In support Vt the Wilson
bill.
Mr.. Clarke was followed by Mr..
Reed of Maine, who began to speak at
lI:30.
II beginning his speech Mr.. Reed
confessed doubts Of the wisdom OF the
house to deal salts 'actorily with the
question before 1t, but expressed his
comfort to look back upon the well es-
tablished belief in the wisdon~of the
decisions of congress. Crises like the
present. he said, were the inseparable
accompaniments Of all human progress,
which IL q series OF upward starts and
Of falls OF almost proportionate length.
The former may be characterized In q
word ''confidence:" the latter in an
other word, s.distrast." These huctua-
tions occur almost simultaneously,
always sympathetically, the world over,
90 closely 10 business allied by the tele-
graph and railroad. Because of the
fact that the drain OF gold from the
United States since the passage OF the
Sherman law in 1890 carried out Of the
country an amount equal to the value
of the purchases o. silver under the
law. the people saw in it the cause Of
the loss of gold, and distrust was en-
gendered, and q season of boarding and
depression set in, and today the country
is suffering all the calamities of re-
stricted circulation in the midst of an
abundant supply Of money.
"This, them" continued Mr.. Reed,
sat the present moment is the situation
In which we find ourselves. have, in
thus narrating the outward circum-
stances which have attended our pres
ent position. failed to state fully what
is, after all, according to my judgment,
The UnNnerTyfHg Cause
OF the present condition OF affairs. AT
the last election the Democratic party
was brought into power by a curious
combination Of circumstances. as the
result Of hundred causes, not with
careful and candid deliberation, but az
the result, in large measure, of the
apathy OF the American people. The
vote shows what declare, and the rec
ollection of every individual to whom
am speaking can be safely appealed
to. While this thing has not been
specially manifest during this discus.
sion, while there has been little talk
with regard to it, nevertheless the
consciousness of this fact underlies our
entire situation.
Not Discussing Party Politics.
do not intend in alluding to this
fact to in any way refer to party poll
tics. do not undertake to raise any
question as to whether the system
of protection il wise i one
or not do not undertake
to dispute the proposition on the part
Of the Democracy that protection 10 a
tax. wicked and iniQuitous. For the
purpose of discussing and for that pur-
pose only, am quits free I'd admit that
protection 10 q fraud and that virtue
resides only in revenue tariff, but this
remains, even IL IL be admitted that the
propositions Of the Democratic platform
are righteous, every one, there remains
the fact that the system upon which the
manufactures of this country have
been regulated for 10 years are threat
ened with total change; whether that
change ID to be Tor the better or not no
man can know. What the Democratic
party purpose to do with the power
which Is IN their hands, nobody can
say. They do not even know them
selves; and hence they are not able to
impart the knowledge to others.
Not Altogether had.
For my part, I do not expect the
Democratic party to be utterly bad. ]
do not believe they will be permitted Ia
be 90 il they should 30 desire. Such is
the restraining influence Of the people.
even after election, that / believe that
through all the DISCUSSES, through all
the masks which this election has
thrown over the wishes or the people.
nevertheless those wishes will be car.
ried out. But at this present moment
no man can know what will be the re.
suit of the action Of this congress upon
the manufactures or this country.
II viii not undertake to dwell at this
present time npon the effect of re-
duced tariff, for INo not want to con-
fuse the issue upon those unfortunate
parts Of the Democratic programme
which are at present III allegiance, like
the establishments Of state banks and
other financial measures, which we
may possibly have 10 strnggls with. ]
can characterize, Ia q single phrase, the
cause of the present condition of affairs.
Is
The Undiscoverabie Uncertainty
Of tbs future Of both the currency
questions and the qnsstions Of protec.
tion and revenue tarin. Ii will be seer,
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