The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-27
CLOSING THE DEBATE.
DOUkKE COCHRAN AND TOM REED
ON THE REPEAL BILL.
Tammsny Statesmen Opposed 20 Free Coin
sge-Messrs. Allen, Clark Almond
and Others Also Speak.

who spoke In support Of the Wilson bill.
Mr.. Clarke was followed by Nir, Reed.
of Maine
Mr. Reed began By saying that he was
not certain Of the wisdom OF any member
Of the House, and least Of all Of his own.
| He was quite conscious, also how dii-
| hcult IL Is for anybody 10 know anything
about currency in general, and how espc-
claly difficult II is 10 provide q remedy
/ fora arrangement of the currency az any
/ particular time. Nevertheless, while he had
! grave doubts OF the wisdom Of each indi-
vdual. including himself, and no doubt
whatever Of the difficulty Of the task It
was comfort to him 20 f0ll back upon
| a we'll established belief I'm the wisdom
| OF all, even when shown by the decisions
| Of the Congress OF the United States.
| 1t may not be an absolutely righteous
| decision which they shall reach but
/ nevertheless, II Is a comforting assur-
ance TO believe that that decision viii be
sufficient for the emergency.
Mr.. Reed said that at the last election
| the Democratic party had been brought
! into power by "a curious combination Of
/ circumstances as the result of a hundred
causes. not with careful and candid
deliberation. but as the result I'm large
measure Of apathy among the American
! the manufacturers OF the country have
been regulated for thirty years are threat
| ened with total change. Whether that
| change IS to be for 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 know themselves. and hence are
not able 10 impart the information 20
others. At the present moment no man
- f.f f.4a
action Of this Congress upon the manufac-
lures of this country Until the question
is settled the manufacturers OF the coun-
try will never dare 10 manufacture more
than the absolute necessities Of the peO-
pie require.
He said that the cause Of the present
condition Of affairs is the uncertainty as
10 the future OF both the currency quea-
ton and the question Of protection and
a revenue tariff. fIe did not regard the
Sherman act as in itself alone respcDsi-
BILE for our present condition of affairs
He believed that the causes OF fne Tre-
cent disaster underlie that and that the
necessary atoTpagc Of hundreds fnd th"i-
cards OF mills is at the bottom n the dis
aStcr Nevertheless, he believed me
sherman act and the accumulation of
silver was the earliest indication OF the
disaster which we are approaching and
fortunate in warning Us that we can be
saved from still further misfortune and
doubt He did not believe the DemOcra-
tic Congress, even Influenced by pressure
on the part Of the people OF the United
States. win so revise the tariff that the
workingman VIII be brought back even
TO the condition Of wcrkmen under the
Walker tariff, but that there will be doubts
and difficulties and reductions he had
not the slightest doubt.
While ne did not think that a repeal ~
the Sherman act would be the immediate
cause of a revival of the prosperity Of
the country. he was I'm favor Of such
repeal for two reasons. First IL seems 10
be deeply settled in the public mind, from
causesRhich can be easily understood.
that the Sherman law Is the causes Of the
unreasonable boarding OF currency
throughout the country. IL has been made
the foundation OF dlstrust by a variety
of causes II. therefore. this proceeding
will relieve the banks and give them con-
fidence; II II win send back depOsitOrs 10
their counters; II IL will ease the rates
for money we shall be able get over this
disaster with less harm, less misfortune.
He was I'm favor OF repeal for another
reason. lie was not only dcsirous of
weathering the storm with as few sails
blown 10 pieccsas possible. but was look
sure TO come and which can only be
postponed by bad management and bad
action?
In conclusion, Mr.. Reed said I'VE
stand in a very peculiar position. we
Republicans, to-day. The representative
OF the Democratic party just chosen
President OF the United States finds him
self powerless in his first great recommen-
dation to fis own party Where he left
10 their tender mercies the country would
witness the spectacle Of the president
OF its choice overthrOwn by the party
charged with this country's government
What wonder then that ne apr calls to
the patriotism or another party whose
patriotism has never been appealed 20 in
vain; never, | say in vain. The proudest
part OF the proud record Of the Republi-
can party has been its steadfast devotion
10 the cause Of sound finance When this
country was tempted 60 pay It's bonds In
deprecated money the Republican party
responded With loud acclaim TO that noble
sentiment of General Hawl'eys that every
bond was sacred as a soldiers grave II
cost us hard fighting and a sore struggle.
but the credit Of this country has 10
superior IT, the world When the same
arguments ttat are heard today were
heard fifteen years ago sounding the
praises OF n deprecated currency and
prociaiming the glories of fiat money,
the party of Abraham Lincoln marched
ST a1dily towards specie payments and |
prosperity What we were In our days Of
victory we are I'm our days Of defeat the |
champions OF true and solid finance, and |
when the day comes. as surely II Will |
come. for us to lead this land back 90 |
the paths OF prosperity and fame which |
were trodden under Republican rule for |
so many years we shall take back with |
us our ancient glory. undimmed by adver- |
sity: our ancient honor. unsullied by |
defeat"
Mr. Reeds closing words were received |
with a prolonged outburst OF applause. !
and his declaration that the Republican /
party. even In defeat, clung 10 high prin- /
ciples OF financial morality, threw the /
Republicans into spasm OF the widest |
He was followed by Mr.. DeArmond. |
Missouri. who proceeded TO speak dn Mr.. |
Blands tlme) IN opposition 10 uncondi- |
tionai repeal. Mr.. Williams. Of Illinois, |
followed Mr. DeArmond. (also IN Mr.. |
Blands time) making n strong argument |
for free silver coinage. Mr.. Allen, OF |
Mississippi was the next speaker, and |
was followed by Mr. Cochran. Democrat. |
New York.
Mr.. Cochran said in opening that after |
listening TO the speech OF the gentleman |
who had just taken HIS seat anyone would |
admit that the arguments IN favor OF |
the free coinage OF silver We're pictur- |
esque rather than convincing. lie agreed /
with the gentleman from Michigan that |
when Congress adjourned last March the |
vas nrOsnerOus In every recDacf