Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-08-23
SENATOR VOORHEES,, SPEECH.


The Chairman of the Senate Finance
Committee Argues in Advocacy OF
the Bill Disseminating the Pur-
chase Of Silver Bullion.
WASHINGTON, Aug. Ex-senator Voor-
hees dem, Ind.), chairman of the finance
committee, to day addressed the senate in
advocacy of the bill reported by him last
Friday disseminating the purchase of silver
bullion. He closed his speech at 2 o'clock,
having occupied one hour and thirty-fvs
minutes In its delivery. In the course Of
his remarks he said no candid observer of
existing public facts can believe that this
attempted panic and business distress have
been inspired by any real fear, or genuine
want of confidence in the credit Of the gov
eminent, or In the soundness and stability
of its various kinds of currency.
The national credit of the American re-
public, tried by every test which can be
the credit of any other government on the
globe.
he referred at length to the govern
ment's official statement made on July l.,
1898, and to the time that the greenback
currency was authorized in 1862, and to
the country at that time, and In speaking
of the present he said: At this point We
are confronted by q law without precedent
or parallel in American history; a law
which for months past has been the theme
of all tongues and pens, and in whose
name financial panic, alarm and distress
have been invoked, and for whose repeal
this congress has been convened. The or
igin of the Sherman ac', Its motives and
30 i{af
claim especial consideration In reaching a
conclusion as to it's merits.
Continuing he eaid: The Sherman act
emanated from the enemies of silver
| money, and its purpose was to degrade
dishonor and disgrace this one of tht
precious metals, until it could no longel
hold it's place with gold as part of thu
| specie basis of this country and of tn
| world. In reducing silver to merchant
able commodity, placing 1t on level will
corn, wheat, cotton, tobacco aud othel
productions of the field and farm, issuing
treasury certificates on it according t.
market value, there could be but one etfec
on the rank, dignity, honor and stabilit
of silver as one Of the great money metals
It reeled and staggered under the blo'
until now Its enemies predict with joy 1t
speedy and total destruction.
speak in no partisan vein to-day, an
yet it is with great satisfaction find fror
the record that not single vote on thi
side of the chamber was cast for the &C
which bears the name Of the senator fro1
Ohio to such peculiar eminence.
Let the grave responsibility for the vic
lation of every sound principle of 6nane
which such measure creates be met b.
fore the American people by those VII
are shown by the record to have assume
it.
As firm, unfaltering believer in bime
alism, and as an undertaking supporter {
: the coinage and use of both gold and silv'
as the standard money of the country, witt
out discriminating against either metal
voted against the passage of the Sherms
l act, and for the same reasons I shall vo
for its repeal.
: He expressed his mistaken belief tn
silver will remain forever one of Il
0 worlds great and potential factors
finance and said: shall vote to repeal Il
Sherman act as would remove q dead f
from a box of ointment, as l would abate
O nuisance and wipe out an obstruction
! rational, wholesome legislation, 1t tain
T. and vitiates cur entire financial syste
and destroys confidence in all busine
= transactions every hour 1t remains pa
. of our laws.
II Often the question has been ask
, whether vote should be given for it's n
conditional repeal, or whether before
goes, something In the way of substitu
must be sgreed upon to take Its place.
Sir, would at once eradicate this GO
fessed evil, this universally condemned 6
actment from the body of our laws, wi
: no other condition than my right and +,
ageney to support, and to secure In &C
nection with its repeal, or afterward by
independent measure, as the success of
immediate repeal, the primary duty OF
Of hour, may at the time dictate q sou
it financial system embracing the coinage
ae silver on an equality with gold.
e. After expressing his confidence in Pre-
dent Cleveland and Secretary Carlisle,
said that he tack his stand now sgail
the existence, the increase, or the perpe