Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1893-06-23
BRATTLEBORO, FRIDAY, JUNE 23
Ex-senator Eolmunds
Talks about the Financial situation,
and the sherman silver Law.

Talks about the Financial situation,
and the sherman silver Law.
Ex-senator Edmunds, who is now in
New York, ON his way to Vermont from
California, talked to New York Tribune
reporter Tuesday, about the business de-
preston and the cause of it. He said it
was because the people believed that the
Democratic party would, or because they
feared that it might carry out the harm
full policies for which it declared year
ago that they were not willing to embark
in new ventures or even TO maintain those
which they had begun.
The Democratic party in its platform
during the last campaign declared for a
tariff for revenue only That was under
stood by nine-tenths of the people to mean
that the government should raise its reve-
nue. by assessing a tax without regard to
the effect it would have upon the industry,
the products of which were taxed. Such
taxation would result in changed condi-
tions, great hardships to certain industries,
uncertainty in all, with the natural result
of cessation of effort, smaller wages for
the workmen and fewer hands employed.
The Democratic party also declared for
what the silver men and some of the gold
men believed to be free coinage, and it de-
clared also for state banks. Now, that the
smoke of the battle has passed away and
the people are brought face to face with
the Democratic party in power, pledged to
change existing conditions, pledged to ex-
pertinent with new measures and to re-
enact others that have been tried and
found wanting, they realize their insecure
position. The people lack confidence in
those principles which are professed by the
Democratic party. "What do you think
will help to settle the present difficulties?''
was asked.
Il have no legislation to propose beyond
the repeal of the Sherman law and the re-
turn to the monetary laws which existed
before 1873. have no doubt that the OPP
Grafton of the Sherman law has helped to
bring about the present crisis. There is
also great truth of history illustrated by
it, that great prosperity comes in waves.
When the wave comes times are good,
money is easy, the government is in good
hands, and everybody is prosperous in a
degree But there is crest of the wave
soon formed, there is wild speculation,
overproduction and extravaganza. At last
the crest of the wave will break and carry
destruction with it.
when we passed the Sherman act we
were between the devil and the deep sea
something had to be done. A crisis was
impending. l voted for the measure and
am willing to take my share of the re-
sponsiblity, although l was not personally
in favor of it. A canvass showed us that
if we did not pass the act the silver men
would pass free silver bill About three
fourths of the Democrats and one-fourth
of the Republicans would have voted for a
free coinage bill. Ivoted for the Sherman
law to prevent a financial crisis or a free
silver bill. The senators from New York,
New England, New Jersey and Maryland
voted for the bill for the same reason. L
urged in the caucuses that the operation of
the act be limited to five and then to 10
| years, but the amendment was not accepted.
Il believe now if we had let the crash
come, the country today, even with the
thermometer at 90 in the shade, would
have been more comfortable. The crash
would have come and we should have re-
covered
Mr.. Edmunds does not believe in the an
neXation of Hawaii, but would take very
good care that no other nation gets hold of
the islands.
In answer to the question, "What do
you think of the Russian treaty?" Mr.
Edmunds said: sit is a good treaty. There
is no danger that political criminals, as
known in this country, will suffer. AS to
those who put poison in the Cars tea,
throw bombs into his bedroom, or blow up
the trains on which he travels, l think
that there is no objection to turning over
such political criminals for punishment.
The Russian people are not in condition
for any form of government except an au-
tocracy, The colored population of the
South at the close of the civil war were
better able to rule than are the Russian
people today"