The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-08-26
Stewart Talks for Silver Miners and
Vest Criticises Secretary Carlisle.
Convincing Speech by Mr.. Burrows on the
Cause of Business Depression-Nr. Spring.
er's Reasons for Standing by Cleveland.
HILL IS A BIMETALLIST.


defined his position on the financial ques-
tion in nm address of nearly two hours
duration. Nesrly every member of the
Senate was in his seat ana an attentive
listener. and many members of the House
crowded over to hear the distinguished
Senator from the Empire State The
New Workers. famous declaration, Il
am Democrat" which has now
become proverbIal. was recalled to-
day by his forcible declaration
on the financial question. when he epito-
mized his silver views in q single sentence:
IL am blmetallist." Again, he said: IL
do not believe in a single gold standard or
single silver standard. but i do believe
in the use of both gold and silver as the
standard money of the country. and In
their free coinage in our midst at proper
ratio and withons discrimination in favor
of one or against the other"
The Senator established his consistency
on the silver question By showing that
last December he introduced a bill in the
Senate for the unconditional repeal of the
Sherman act. and that the President had
followed in bis footsteps IN demanding the
repeal of this obnoxious measure-a law
which Senator Hill declared to have been
the worst enemy of tho free-silver cause
in retarding the onward march to uni
versal free coinage. There was smile on
speaker. by Implication, criticised the
President by referring to the part the high
tariff had played in the present crisis. and
concluding by saying. Our course Is on
ward. and we shall not retreat"
The New Workers. arraignment of the
gold mOn0metailists Of the country. par
ticuiariy Wall street. for the part they had
taken in precipitating the present crisis
by attacking the credit of the country and
necessarily prOclalmlng disaster until they
had finally started q panic wave that now
threatened to engulf its creators was one
of the most forcible and iIolsive Impeach-
mentS ever heard on the floor of the Sem
ate and furnished much satisfaction TO the
free-colnage men. But the national banks
received their consolation in the later
declaration of the Senator that he favored
tho proportion to allow the issue OF ma
tiOnal bank notes to be increased TO the full
value of United States bonds on deposit,
as one of the means of abaring the present
crisis. The chief surprise of the speech OF
Senator Hill WAS the position he assumed
In minimizing the importance of u revision
OF coinage ratio: and his suggestion that
international bImetallism might be sought
by holding out an lnducemeDt TO the Latin
Union countries to recon at profit rather
than at loss. gaGe greater satisfaction to
the Western frce-cOinage people than even
the most sanguine had expected from his
argument.
REFUSES TO FOLLOW CLEVELAND.
There was o dead stiffness in ehe Senate
when tho speaker referred to the statement
that President Clev eland was attempting
to lead the country to monometalIism and
made his comment thereon. concluding
with his defiance to presidential domina-
tion. 81 shall refuse" said he ito follow
in the footsteps of any administration that
seeks to place the Democratic party in o
false position: that seeks to lead it away
from Democratic principles and platforms
and into tho very camp of the enemy. The
President must rely upon Republ
votes TO carry out any such suicidal
policy" The felicitatlon of the DEM
ocr0tic opponents of the admin stration
over this utteranee was hardly completed
before the Senator gave the President
another blow in his reference to the part
that patronage is said to be playing in
securing the adoption of the administra-
tion policy. But. as you well know"
said he. Il was for the repeal of this bill
came into power. and. by my voice. pen
and influence. contributed my humble
share toward the creation of that
public sentiment In regard to 1t
my State. My distinguished colleague
and myself will cheerfuily vote for
this bill. 'unawed by power and uncor-
rupted by federal patronage" This last
ailusiOn brought forth evidence of ap-
prOval and merriment and before the Vice
President could check IL. laughter aud ap-
plause broke out and was only repressed
by the vigorous rapping of the President
and the threat TO clear the galleries.
Nix. Hill read his speech from printed
slips. His voice was strong and clear. and
although he indnlged In no gestlculations,
he used much emphasis and turned bis face
alternately from one side of the chamber
to the othor. As his desk is rather far back
the Democratic eide. the Sena-
tors who had their seats In front
of him wheeled around their chairs. turn
ing their bncks upon tho presiding officer,
and the Repu blican Senators Also took such
positions as enabled them to iix their gaze
upon him. There was perfect quiet and
stiffness in the chamber while he spoke.
and the closest attention WIS paid to the
speech, both on tho floor and In the Gro ed
galleries. At the conclusion of Mr.. HilPs
speech Mr.. Stewart took the floor and ad-
dressed the Senate. He declared that the
bill of the finance committee was bill
practically to demonetize silver. No
man should be deceived on that
point. The promise in the bill
was an insult to the intelligence of the
American people. The people, he said, had
come TO the forks of the road. where they
had either TO use their own money or sub
init 10 a system of extortiOn through the
been executed according to Its spirit. If it
had been IL might have done good; il cer-
tainly wonld not havo done harm. All that
had been done under it had been tho issue
of Sli0. coo OF lega!-tender notes. which
had done much to sustain the business of
the country. Without It the panic would
have happened long before.
CARLISLE CRITICISED By VEST.
During the morning hour Mr.. Vest had
the Clerk read a communication to him
Mr.. Vest from the Director of the Mint,
giving statistics as to the purchase. cost
and coinage of silver. Mr.. Vest said that
he assumed, from tho zeal manifested by
the advocates of the repeal of the Sherman
act. that the great thing to be desired in
the interest of the American people was q
parity between the two metals, and that
the commercial ratio should be, as
far ns possible. the Same as the
ratio established by statute. The CONNER
cial ratio had been. up to within few
days. 2S TO ]. while the legal ratio was 10 to
]. and ne took it for granted that. if there
was 10 be an honest attempt tn bring the
two metals together. IN order TO redeem
the pledges of the two great national
parties and of the administration. there