Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-08-31
GRAND RAPIDS MICH THURSDAY MORNING. AUGUsTa

sor,is: Il want the standard goid. snd
10 paper psoney that = not resi6snabis
IA gold by this process Ne shAli come
90 spsc.s basis snd when the iaDorer
shall receive his dollar ik sil have the
ssnas purchasing power u = dollar.
Cold Is the unsssEsai standard of the
worht Everybody knows that"
The reading q these quotations show
ing snch remarkable change q opinion
On the part u Mr.. Stewart prosoksd
general laughter AZ ths sxpsese af tnat
senator. Who looked soms9 hat be~ild-
errsi but onIy sifoked his iong beard
Subsequently. however. he promised
% reply 10 Mr. Sherman on Friday next
Mr.. Sbefman followed ap he ad-
vantage over the Nevada sens-
tor BY exhibiting newspaper
published in that state one whole side
II which was occupied with notices Of
assessment On silver mining STOCK. all
payable IN United States gold CON-
Then he came back 10 the main subject
of bis speech and said:
Il do not think that the stoppage OF
silver coinage was the end Of silver. We
have proven that the mere purchasing
of silver BY us on a declining market -
az inpfovident use OF the public money
and ought 20 be abandoned. at least
suspended until time may come when
by an international agreement or 10y
some provision of law. We may guard
against the possibility of coming 10
slngie standard of silver.
stop buying silver.
That can be done. What do We DO
nov but simply stop the purchase of
siiverf We do not say when vo will re
new 10 again We simply say that now.
10 view of the possibility OF a panic IL
would be unwise for us 10 waste either
our credit OF our money in buying that
which must be in the cellars Of the
treasury until used.
IL was in order 20 give assurance that
We do not intend 10 destroy the silver
mining industry III the west. that we
put into the bill reported by the com
mitteo the provision proposed by the
senator from Indiana Instead of aid
ing to strike down silver | would like 10
build IL up; and any measure that will
do 50 and will not demonetize gold will
meet my approval and support. But
would not discover the financial
business of this great country
with It's 65.0OO.0o0 Of people from the
standards that are now recognized by all
the Christian nations Of Europe. l
would not have any measure Of value
less valuable than that Of the proudest
and haus shtiest country in the world.
This 10 not question OF mere interest
10 Nevada or Colorado. II is not a ques-
ton u what Wall street will do. Wall
street viii bo always doing some devil
ment or other. IL makes no difference
who is up or down. | take that as a
matter Of course. The question is what
should be done for the people of the
United States in all its length and
breadth and. therefore. il congress will
say that IN lis opinion il is not wise now
10 continue the purchase OF silver bull
ion there will be no injustice done to
Colorado or Nevada.
Are we bound 10 build up the interest
of one section Of the country at the ex-
pense of the resty No. no. | believe,
heartily and truly. that the best thing
We can do nov is u suspend for tho
time at least the purchase Of silver bull
lion.
Snspend the Purchase Clause.
Recurring 10 the suggestion OF author
izing the issue Of bonds Mr.. Sherman
said: Il am willing 10 trust Ia your
executive officers. IL you are not. It is
a strange attitude In political affairs. |
would give them power TO protect the
credit OF the government against all
enemies al home or abroad. IL the tight
must be for the possession 81 gold
would use our cotton. our corn and
our wheat; | would protect our
credit against all mankind. Us TO
silver | would say that We prefer 10 wait
awhile until the skies are clear. until we
see the effects 81 the suspension of silver
coinage IN India and see what arrange
mcnts can be made for another interna-
tionai monetary conference.
In the meantime. let the United States
stand on It's strength and credit |
think that soon all these clouds will be
dissipated and We may 60 home 10 our
friends with the conviction that we have
done a good work for cur country at
large. Applause
MIR. sherman concluded al 30. hav-
ing occupied two hours aud ten minutes.
Teller ON National Banks
When be had concluded. the repeating
bill. on which he had spoken. was laid
aside. and the national bank circulation
bill was taken up TO allow Mr.. Teller to
finish the speech which he had begun
Yesterday. Mr. Voorhees, gave notice,
however. that after the morning business
tomorrow he would ask the senate 10
take up the repeal bill and would do so
from day 10 day. subject Of course. % his
desire 70 accommodate senator's. Sena
tor Teller concluded his speech on en-
tension II national banks, say log he was
opposed 10 the extension % tho banking
system for any purpose. lf he had a
fair opportunity 10 wipe them out he
would wipe them out as quickly as he
s>ottid