Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-26

was being read, people settled themselves
in comfortable positions in their seats d.
II in anticipation Of a long sitting. But
when the Speaker announced the business
Of the day and recognized Mr.. Wilson OF
West Virginia to control the debate on the
anti-silver side Mr.. Wilson yielded thirt
minutes to Mr.. Clarke of Alabama, Will,
Mr.. Reed strolled out again. much to the
evident disappointment Of the audience.
ME-. Reed Recognized.
Upon the scenclusipn OF Mr.. Clarke's re-
marks however at 1880. Mr.. Reed was rec
ognized. and took his stand In the aisle
opposite his seat in the very center of the
republican side of the House. The scene at
this moment was an interesting one. Every
member OF the House abandoned what he
happened to be doing at the moment and
turned his face toward the eloquent man
from Maine. and gave him instant and close
attention. The galleries had become pack
ed. people standing in the aisles and door
ways. the line reaching out into the corri-
doris. When Mr.. Reed arose the buzz of
conversation ceased and the most respectful
silence prevailed. Every eye within the hall
was turned toward the man about to ad-
dress the House. and all the attention rv-
eted upon him. It was intensely hot within
the halls and fans were going in every
hand. but the heat soon seemed to be lost
sight of.
Among the interested listeners to the de-
bate upon the floor Of the House were Vice
President Stevenson, Secretary Carlisle,
Secretary Herbert and a number Of Sena-
tors and ex-members Of the House.
Hi. Speech.
Mr.. Speaker. I ara not certain II the Wis
dom Of any member Of this House. and
least Of all of my own. 1 am quite con-
sctous also how difficult 1t Is for ANYBODY
to know anything about currency in g.ner-
vide remedy for a deransement of cur
rency at any particular time. Nevertheless,
while l have grave doubts OF the wisdom
OF each individual. including myself and
no doubt whatever of the difficulty Of the
task, 1t Is a comfort to ,ne to fall back
upon a well-established belief in the wis
oom or all, even when shown by the de-
cisions OF the Congress of the United
states 1t may not be an absolutely right
eSus eS decision which we shall reach. never
theless 1t is a comforting assurance to be-
iieve that that decision will be sufficient for
the emergency. especially since it is ac-
eSts9 eTtmPaniea Dy the certainty that no other
Upon us and the people who are Influencing
our votes rests the decision of this and Of
other very important questions.
crises ike the present are not uncom-
mon In the history of the world; indeed.
they. they seem to be essential to human pro-
gress. and to arise out of the cnaractcris-
tics OF human nature itself.
The movement of the human race seems
70 20 oe s1 series OF upward starts AMI of falls
eral progress has always been forward, hut
there have been many times when the
m9yement seemed to be to 'he rear
When the period Of doubt sacs in values
become uncertain. because 1t Is felt that
reaoJustment must be had. Checks and
evidences of transfer are scrutiniIed With
care. because men who were waaithv vrs-
terday may be poor today
Why Production Ceases.
80. also. production ceases because the
producer mas great doubts whether the
production Of his mill or his workshop win
De capable OF sale. and above all, whether
far this element of distrust may 20 depends
upon the seriousness of the previous infia-
s0 sion OF values; and after a time, when men
hnd precisely how they are situated them
selves. and how their neighbors are placed.
there there begins SLOWLY to revive the conf
period. in small measure at first. and after.
ward In Larger measure. until finally we
reach another period. whence confidence
relgnS ana producttveness is at its utmost
Now.this alienation between extreme pro-
duction and reduction reduced to it's lowest
pist may regard with horror, but which the
| man who has observed the history of the
world is obliged to regard with tolerance.
| temporary prosperity. also its own causes
for temporary depression. The fact that
de these expressions re SION are merely simultaneous
suggestions just made. If any one desires
to notice the connection between the dif-
| the crisis which occurred In the year 1890
| 1t was found that there was great
| scarcity of money in the United States, so
great that under the influence of universal
| clamor more than forty millions Of cur
cency were let loose from the Unite States
Treasury among the people of the United
| States.
In the year 1890. from a variety Of cir
cumstances. which II is not necessary now
| to discuss. for the country cares very little
today whether anybody was or was not to
blame for the passage of the Sherman act.
| conspired to make the passage Of that act
| an absolute necessity. The passage of that
act pledged the United States to purchase
| every month, and issue its value in cur
rency. 4,5O0.O00 ounces Of silver.
The Time to Curtail.
| Last May 1t became apparent that we had
| reached a period when a wise and judicious
| man would be careful to curtail the amount
| Of his obligations. Some wise men had done
SO beforehand. other wise men had waited
until that period. The banks then COM
menced to examine their collaterals, to call
| In their loans and to put themselves In a
lContfnuad on Fifth naroN