New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-27

He instanced the National "a 10 600 and loans
t sad the That the me erect Of
10000 to its n dep %oad be to make present Of
ssi Hso 600 to the banks of New-fork, anu
down wages Of toll Nsb per s asked
pound question Il M Te ae 5ru and the gentleman
man f Tshraska ohmsei0. and Terence y Powdery
were desiring to make present to 5he OF New
Y York DENOUNCED them? (Applause)
NETWORK BANKS COMPL1MtNTED'
A. cockran-It Is because the 'anks OF New, ioah
have discovered that in all the dealings ., ni
honesty is the best policy. Qoud anu 'o"''
applause) os In favor
continuing, Mr. Cochran said that ne was ~ -
OF silver but in It's platform the De"ioo,a 49, ,ha
r,r, coinage" (Applause) The promise Vi '
Democratic party was that 1t would use al .''e Oh
or NO had. and now the Democrats asked u sue
nend the further coinage OF silver IN tiie hop
IN the future the country would be aple " az
its silver currency without disturbing the s'anu -
., ya,ue The United States was not SUFFERING w
dav from q lack OF money; it was suffering iron,
aIurdarcv of money These commerclai crises,
we're like every other pestilemce wm ,,n should
the origin of it discovered and tne
cause of it removed In ms Up the redndancy Of
money The circulating tledium had pecolie ,ogged
dundant that the wheels OF com,,eaoI reTndancy of
crrency and what the consequence Ins TO
money you issue the less you n nonev in country
that affected prices; it the amount o. ron Ury
in circulation You oI mghssO sa5% mr. week into
cRPcunton and it would be absorbed as the 1urn
Ing Of the desc desert MssSr Dir BAND spoke Of
the return OF gold to this county tba gold was
that gentleman of the way gattinS the gold back?
P HS friend Of the BY the expert Or OF
wheat In three months md Of received l $4,000
In the same three months of this year we GOO
rS Sashs is to 81 say that 100000 bushels Of
Wheat brought less Y9n fopceS
H,s circulation by the operation of the sherman
act The only method by which oduc can Scarcity OF
money results only from putting bogus money Syrand dc
circulation. While men live they mus h,c 1a bread is
made can force the Of gold In his rec ca
While have the products OF w opE o gold The
friends Of the farmer the enemies OF the ay
the ends 81 'n the purpose they have
them What they would do Is deprecadie s III" nv the
CAPITALIST and enable him to rePudate part o,
the balance which he owes to the sreat of
the country It would strip the wage-earners Oh 70
per cent Of the progress which thsS hase ~ the
neople by those who claim to be champions Oh INC
oppressed
MR. BANDS SPEECH.
Mr. Bland Dem. Mo- said that If the sentie"ia',
from New-York (Mr. Cockran). whose hhahcia'
theories were evidently gained from ma"puia
ton of the Stock Exchange, would oniy 20 u "'a'
great country from which he had said were on
tanned the agricultural products which were shipped
abroad I'm order TO bring back the European goid
necessary to sustain public credit he wouid uhuer-
stand why the gentleman and himseit were 80
radically different in their views IL was true aS
the gentleman had said. that II was 10 tine piouu't
OF the soil OF this country that the hhahcleiS y,
this Government looked to bring back the goid
cioI svstem But the gentleman had failed 10 tell
tho House the difficulties under which the farmers
laborered I'm order to DO this patrionc service ne
had not told the House that there was a corner III
the gold of the world. As long as the goid OF the
World was cornered by the legislation OF the United
States the gold men of the South and west could
exact their own price for gold. All the doSmauc
u,terances of the gentleman from newborn were
made in the face of history and In the race vi
truth He CAIr. BanD did not defend the Sherriih
act; and II he could put in its place provision
for free coinage Of silver at rat'o VI 10 " -
he would vote for its repeal.
He sow no reason whatever for changing the
existing ratio Of Is to !. The production OF goid
and silver for the last 100 years had been al the
ratio Of about $50 to 1; and that was the ra'io
OF the silver coinage OF the different nations OF
the world There were he said. two hostile forces
on tho floor on the whole money question, ana
gentlemen would. sooner later have to arrange
themselves on one side or the other. The propo-
stons TO be- substituted were for the free coinage
Of silver at any of the ratios fixed. That meant
that the people should issue from their own mint
their own money. and not let 1t be issued by the
banks SO far as the operations OF the sherman
bill were concerned. the people issued their own
money under II: and what harm. after all. did the
silver IN the Treasury do? Although the Sherman
act was not In conformity with bmetallsm, yet
under IL sl0.O0Oc0 S00O0.00O greenbacks a year
were put In circulation Mr.. Cochran had argued
that one OF the causes of the financial trouble was
Il redundancy OF money; and yet that gentleman
would In all probability be found voting for the
Senate bill allowing National banks to increase
their circulation to the amount Of S2l.Cc0oo.
Mr. Bland sent to the clerks desk and had read
a dispatch referring to an article In The New
York Evening Post the application of
pressure in favor OF repeal OF the sherman act
the pressure suggested being the threat to with
hold credits from country merchants. He de-
nounced the article. and quoted what Mr.. Benton
once said in Congress a somewhat analogous
proposition. He then declared that il n
notorious fact that the people OF the South and
West who had money deposit in NcwYork
banks could not have their checks paid. This was
being done to weaken the Western banks. and to
have an influence on the Representatives in this
House.
Mr. Warner Dem. y. v inquired whether the
banks OF New-Yorl had not reduced their reserve
In order to meet the demands OF the South and
West lower than the banks OF the West and South
had done.
Mr. Bland replied that the gentleman could put
his statistics he pleased. but it notorious
that the money in the banks Of New-York could
not be drawn by Southern Western banks. The
silver men in the House had offered several COM
promises; II those compromises rejected there
would never be another compromise offered. Gap
pause) TO maintain a gold standard meant to
dcmonetize silver and TO lower the prices of labor
The Wilson bill asked the United States Congress
TO legislate as to add to the prosperity of Eng
land and Australia. and To the distress and adj
Ncrsity of the farmers and miners of America.
He had advocated the Sherman law. He had
voted against It, but 1t now the last bulwark OF
silver IL proposed to demonetize silver.
Now was the time to let the country see who were
the friends Of silver and blmctaism in this House
To strike down silver would mean political revolli-
ton that would strike down both great political