Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1893-08-22
FIFTY-THIRD CONGRESS.
WASHINGTON. August %. 1898
SENATE,

LII luC SSLkiIS 1850 >A-AS@>
offered an amendment to the VOORHEES,
repeal bill-in the form of a provision
for the coinage of silver at the present
ratio Of 16 to l, under the same condi-
tions enforced as to the coinage of gold,
aud directing the coinage without un-
necessary delay of the silver bullion
now in the treasury. 1t was referred
to the finance committee, as was also
bill introduced by Mr.. PETER, for the
reduction of the salaries Of all of the
government officers from $1,000 up
wards, by Is and 20 per cent.
Mr.. Voorhees,, chairman of the fl
nance committee, addressed the Senate
in advocacy of the bill reported by
him last Friday, disseminating
the purchase of silver bullion
The Senator from Ohio (Ir. Sherman)it
was true, now claimed credit for his re-
peated assertions of late, that there had
never been an hour since the compro-
mise was effected, that he had not stood
ready to violate it by voting for its re-
peal. In other words, having induced
the producers of silver to surrender
their right to its free coinage, in ex-
change for the right to sell four and a
million ounces per month of bullion,
the Senator from Ohio and his followers
on that side of the chamber had been
willing and anxious ever since to break
the compact, repeal ;the consideration
on which the compact was made, and
leave their victims of misplaced conf
dence empty handed, without either
the privilege Of coming their silver or
selling it as a mercantile commodity
to the government. The act was not
intended in good faith for the coinage
of silver at ALL On the contrary, it
emanated from the enemies of silver
money and its purpose was to degrade,
dishonor and disgrace this one of the
precious metals until it could no longer
hold its place with gold as . part of the
specie basis Of this country and of the
world. In reducing silver to mer-
charitable commodity on level with
the products of the field and farm, and
issuing Treasury certificates on it ac-
cording TO its market value, there could
be but one effect on the dignity and
stability of that great money metal. II
reeled and staggered under the blow
until now its enemies predicted with
Joy its speedy and total destruction. Mr..
Voorhees, said that he spoke in no par
tiSan vein, but yet it was with great sat
isfaction that he quoted from the record
that not a single vote on his side of the
chamber was cast for the act which bore
the name of the Senator from Ohio to
such peculiar eminence. He wanted
the grave responsibility for the viola
ton of every sound principle of finance
which such measure created to be met
before the American people by those
who were shown by the record to have
assumed it. AS firm, unialtering be-
lever in bimetallism and as ar unde-
waiting supporter OF the coinage and
use of both gold and silver as the stand
ard money of the country, without dis
eliminating against either metal, Mr..
Voorhees, said he voted against the pas
sage of the Sherman act and for
the same reason he would vote for
its repeal. The cutlery in certain
quarters at this time that those
who vote for the repeal of this
measure are enemies Of silver as
money and in favor ofits denomination
was not only false so far as he was con-
cerned but in the light of what had
happened in the past it was absurd.
Beginning with the first speech he had
made in the Senate and down to the
present hour he could recall no vote or
words on the subject of the coinage and
circulation of silver which he would
now change or blot from the record if
he could. And now. in this the darkest
day ever known for silver, he avowed
his mistaken faith that it would remain
forever one of the worlds great and po-
tential factors of finance, commerce,
traffic and daily business transactions.
It would neither be demonitized nor
driven away from the habitations of the
laboring masses of mankind. 1t had
come down from immemorial ages and
would continue to exist as one of the
precious metals, upholding the credit
of nations and bringing blessings to the
sons and daughters of toll when the
scenes through which we were now
passing had grown dim in the light and
progress of distant centuries. He
should vote to repeal the Sherman act
as he would remove dead fly from q
box of sweet ointment, as he would
abate nuisance and wipe out an OBJ
struction to rational wholesale legisla-
ton. 1t tainted and vitiated the entire
financial system and destroyed conf
demon in all business transactions every |