The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-09-02
Mr.. VANCES VIEWS.
He Speaks Against the Repeal of
the Sherman Law.
THE MONEY KINGS TO BLAME
Tho Veteran Carolina Statesman Says
the Gold Bugs Are Responsible for Our
Currency Troublcs-NominatIons Con-
hrmsd by the Senate.

the Gold Bugs Are Responsible for Our
Currency TroubIcs-Nomination Com
firmed by the Senate.
WASHINGTON, Sept. 1.-The house bill to
repeal the purchasing clause of the Sher-
man act got fairly under way yesterday in
the senate. 1t was taken up early In the
morning hour to give an opportunity to
Mr., Vance. of North Carolina to make a
speech against it. Mr. Vance Is one of the
Democratic minority members OF the
finance committee, and for an hour and
forty minutes he kept his batteries Of wit,
humor and sarcasm playing upon tho
measure and upon the members of his own
party for supporting and advocating it,
lie prcfaced his remarks with the state
ment that the great law OF supply and de-
mand operated in regard to money just as
1t did to everything else.
When money was abundant prices were
high; when il was scarce the prices of all
products were low. Therefore, he that in
creased the abundance of money benefited
production and advanced prices and
wages. though by corntiiAtps 10 de
fensiye measures in many part Of thu
world wages are effected less than pro
ducts.
kind which would follow the destruction
of one half of the currency of the world,
amounting in the aggregate to 81 800, ,00O
600, it would be impossible accurately to
describe. Still this process of destruction
has been going on quietly since 1879, and
its result is seen in prices lower in many
things than has ever been known in the
memory of man.
The speaker then went into the history
of the decentralization of silver. He said
that this movement for repeal was the re
sult of a conspiracy among the money
holders of the world The method of the
attack was by the creation of panic The
departure of gold from this country some
time ago had been attributed to the Sher
| man law; IL so, the Sherman law surely
brought 1t back, too Members OF congress
on both sides wanted gold and silver
coined on equal TERMS according TO their
| platforms 80 they stopped coming silver.
The senator referred in most sarcastic
terms TO the Inconsistency of such actions.
! If such an Interpretation of the Demo
| cratic platform had been announced dur
ing the campaign he was quite sure Mr.
Cleveland could not have carried single
electoral vote south of the Potomac river.
| Senator Vance acknowledged that the re
| peal bill would pass, but he asked what
would be done with the remainder of the
Democratic platform in the face of one
promise broken.
When he got through his entertaining
| speech an effort was made to simplify the
further parliamentary line of procee ding
in the consideration OF the bill by having
the committees substitute adopted pro
forma, so that nll amendments to be OF.
/ fered might be amendments In the first de-
gree instead of In the second degree, which
would tend to smooth and simplify mat
ters. That proposition did not, however
suit the ideas or plans of Mr.. Cockrell, OF
| Missouri, who objected to it, and as il re
| Quired unanimous consent, it failed, OF
course, to be adopted. From that point
on to the point OF going into executive
session, a confused rambling colloquy
was carried on between Mr.. Cockrell and
some Republican senators involving the
question of adhesion to or repudiarlon oi
the Chicago Democratic platform. The
discussion was not ended when adjourn
ment took place.
The rules which will govern the proceed.
ings Of the present house were again dis
cussed yesterday without attracting much
attention, although at times the house
was on the edge Of a partisan debate. But
in each instance good humor took the
place of bad blood, aud the clasL of parties
was averted. No change of Importance
was made in the now code, and without
concluding its consideration the house ad
| journed.