Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1893-09-27
THE SILVER DEBATE.


a hA ~
uons which produced the precious uoetai.. 4,
.oulo o 10 contract the currency 20 such An
ohtent mat The government would be corr.
pened 70 issue nat money: IL would be 70 az,
back the progress OF the western state -
ruin thousands OF workrnen ne -, -
pose WITH AL the vigor OF which he was eapa
pie the repeal OF the sherman Law tntn -.
better substitute was adopted
-.. Do'pa rep. Ore-) reiterated some state
nents 70 The encct that the business disturb.
Anees we're due q the threats OF hoStn, tarir
legislation. and proceeded 70 arxus agasn., 49,.
Tree coinage OF silver ana vigorously ,.ritir,..a
eeoSe majors from the silver states who had
attempted 20 make this Question a sectional
one 4-'
On the 18th ar Daniel (deu. VA) mad. =,
srSument against the repeal bill He said he
brought 10 the discussion OF the suh,ert rrs,
IVuhu sympathy with every class OF his fellow.
Slu]ehs Who had been smitteu with An evil
financial dispensaton II would be- unvis. 40
say the sherman law produced the panic I-he
cate OF Is incipicncy cannot be traced 70 anv
eet OF local legislation II began In south
america, where there is no sherman law II
swept over Great Britain. u gold standard eonn-
Try where there l. no sherman law Tho
panic swept on 20 Australia. where the peoni.
are the richest people In the world per capita
"hero thcrc Is no sherman Law. The panic got
70 Austria Italy aud India. and is now going All
over Europe, without the dreaded presence az
the Sherman law
The republican party IL delighted 20 attribute
the panic 10 the sherman law In order 10 cscap.
Its responsibility 10 the tariff The McTxfniev
oill sought tho shcltering arms OF the Shermn,
law. The gold monometallis,s are Delighted 10
hide bohiud "a the work OF their own hands
Inc bankers arc interested in seeing the Sher
l MAJ aot repeated 50 that new bonds may be Ia
sued on which they can base currency
am often asked why / oppose the rcueni 81
me sherman law now. after having opposea il
passage In 1920 My answer Is this: Is fhero
man Who having patched coat would throw
A IA n0n .Faasa 49,. 10.
new oncf" Do the supporters OF the r-reai
bill propose 30 restore the conditions existing
AZ the time OF is passagos o no Tie Bland
Allison aet-a democratic mcasure-was re-
pealec ~ tho Sherman law. but the repeal OF
me sherman law VIII not restore the Bland.
Allison law
Toe democratic platform does say. Repeal
the sherman law" out Il also says: "Rrpeat
we Mckinney law But would senators re-
peal the tarin law aud leave the treasury with.
out revenuei Would they repeal the sherman
law and leave the country without silver mon.
eyf do not doubt the repeal % the sherman
Jaw would have some beneficial effects 81 many
directions IL would give some immediate casa
20 business and transactions partly through mo
hurrah which would be made Commerce
rary
II the declaration IN the VOORHEES, substitute
were changed Into legislative provision tas sue
gested by Mr. Walthan last week. would vote
Tor II, and the sherman law would be repealed
without another hour OF debate. What Is in
ternational conference wanted 10 sottle the sil.
VET question: The American senate is the
place 10 settle H.
As 20 the president I supported him loyaly
In three campaigns and expect In many a day
OF battle yet 20 bear his colors and defend his
cause shall not pay him the tribute Of
couruer and nattercr who would say. Behold
brave and honest man who has convictions
But will show him American senator had
also his convictions aud Is brave and honest
enough 10 be true 10 them Not for a class but
Tor all The people; not for q section. but for The
union not for special interest but for the
whole do j feel
On the 18th Mr. Lindsay dem. KY) spoke
IN support OF the repeal bill he called ntteu-
tion 10 Tho fact that the bin contains not
word looking TO the oiscontinuance % silver
coinage under existing laws. and that 10 leaves
unimp1ircd The provisions Of the set OF 1901 for
the coinage % silver IN the future He charac-
tcrized as most extraordinary the position
taken That we ought not bad as tho law S.
70 repeal 10 Until IL IS known whlf further
legislation In the interest of silver Tho pres.
dent viii propose To the common mind IA
would seem that the best thing 10 do with
bad Jaw would be to repeal a. and 10
business 10 would seem that tho best
thing 20 DO with losing transaction would
be 10 abandon fl The question In the
presidents mind hao been whether the
country could AFFORD 20 continue It's purchase
OF silver bullion. Replying 20 senator
a-A = hNNtIlA ~ Ns ne saul ne hNl rtA4 IDS
presidents message Ia vain 20 hnd the evidence
upon " hitch the senator rests his belief that the
president does not intend 10 keep faith with his
party ard the people
Mr. Lindsay announced that he would accept
no amendment % The pending bil which toler-
ates the further purchase OF silver bullion
On the 18th Mr. Allison rep. Ia) spoke In
favor OF repeal Of the silver purchasing clause
Of the sherman law
He made the point that for sixteen years up
HHHM Il
people fayoring the free coinage OF silver or The
destruction o. gold a. the measure Of value
The Law Of 1870 was temporary law IN was
an experimental law also. In one sense Nobody
believed az the time that Il would stand long
upon our statute books II Is just as
plain as the nOon-day sun that n We 20
on purchasing silver and putting 20 Ia
the treasury as bullion. 10 Is only question OF
flew months Tor few years AZ most when
We will fan 20 redeem our obligations ia gold.
and then We will be ~ silver standard He
continued:
Il want 10 repeat my belief now. that all his
tory discloses the fact that when y0u make
even small divergence between The estab.
Nshed ratio and the true commercial ratio the
result Is disastrouA undertake 20 say that 10
Il utterly impossible Tor as 70 deal with this
question Of ratio az this time The ratio OF
- 20 ! would be an increase Of ratio BE-
cause We have known the price Of silver 70
change By 20 per cent In single
day. me moment she action Of the Indie couu-
ell was known silver went down % per cent
In the next week 70 went up IS per cent How.
then, can we make = ratio that win measure
the value Of AL debts and al credits on the
basis OF the bullion value % silver The situa-
tion IN India has changed the situation here.
We are trying nov 10 keep Up the price % .
thing that viii 70 down below the cost Of pr
duoton. whatever that may be.
III We continue the silver purchases ne up.
hold the British policy On India The incFit-
abs effect o. what Ne ere doing here 10 either
70 uphold or 10 destroy OF Impair tbs ability
OF England 20 maintain its policy Ia India ~
We cease % purchase silver 10 viii Be impos-
sible. To- my opinion Tor England 20 carry out
that policy and it will become 40 utter failure
III THIS government viii undertake The poi
icy ~ an international agreement between sil-
yer and gold believe that that policy viii bs
accomplished. that within brief period We
viii be able 20 restore The parity between TIE
metals and practically So rehabilitate silver.
~ belief is that % We are - have an lnterna-
tional agreement We must mako 10 appear 70
the nations OF the world nat Ne Ourselves 40
not mean 20 take care % silver
On The igth lengthy discussion was hsd on
q proposition BY Mr voorhees, Tor Get time
when a vote should be- taken on me repeal bul
Mr. Voorhees rave notice NAT De would ass
she senate 90 remain longer in daily session. per
haps 90 night
ST.. Minis dem Tex ten spoke. advoc1uns
rDuaaL Tire Sherman law vas On urw.aa Jas
ard al such should bc repealed 90 had beer
said n ihIs douaie that according 90 the pres
iieuI We stood face t0 face with bimetaiIism
against Single cold standard. That rtater1erl
was nos accurate. Tie president bad nos made
the issre Tho facts bad made che issue.
end SO uas f0r congress % deter
mine between blmrtsilsm or ftc onf
side end single silver standard or