The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-11
SILVER THE ROOT OF EVIL.
Mcpherson Makes a Strong Speech
Against Further Buying.

@-9AA4 4 ACSAIAOAb CAGNSAes4AN% w ~ DC
in the Financial Crisis Commended
The Majority in the Senate Must
Find Way to Prevent the Mino rity
From Dominating -Cockrel Contin-
ues His Argument Against the Re
peal Bill.
| Washington, Oct. 10.-In the Senate to-
! day the debate on the bill to repeal the
| purchasing clauses of the silver act de-
| veloped no striking features. An unusually
| small attendance during the entire day
was noticeable, the senators apparently
! outstanding their strength for the con
! tinuOus session which Mr.. Voorhees,, on
/ Saturday, gave notice he would ask to-
morrow, until a vote was reached on the
| bill.
When the repeal bill was taken up Mr..
Cockrell Of Missouri, who was entitled to
the floor, yielded to Mr.. Mcpherson,
! dem, of New Jersey, who addressed the
! Senate in favor of the bill. He expressed
the belief shared in, he said, by two
4 thirds of the people Of the United States
who had any opinion upon a subject, that
| the Sherman law was, in the main, the
true, in fact, the only visible cause
! operating to produce the recent panic. AT
the passage of the Sherman law, and
! every day since its passage, it has been
fully characterized by our own people
and by the best financial minds of other
| countries as abhOrrent to every principle
| of sound finance, and if long enough con-
| tlnued it would drive or drift US to silver
recommendation.
THE QUESTION OF THE HOUR.
The question which presses itself home,
! said Mr.. Mcpherson, and appeals to the
! conscience and intelligence of every sena-
! tor, is, will congress heed the voice of the
| people and stop the influx of silver, or will
| 1t not. This is the plain, simple ques ton
| 1t has been debated and decided else
| where by a higher tribunal than this
/ After careful review of all the amend
ments thus far presented, find nothing
| but surrender is offered to the friends
| of repeal. Whatever of fault or misfort-
une attaches to delay or failure belongs
! alone to the democratic majority, who
| have been entrusted with the power and
to whom belong the responsibility. The
President of the United States, - contin-
ued Mr.. Mcpherson, lis entitled to all
commendatiOn, not only for summOning
| congress here, but for what he said to
congress. The country was in
a great panic, and the people be-
lieved the repeal of the Sherman law
would mitigate, if not entirely remove,
the apprehension. The President con-
! CURED in this belief and hence his
| recommendation After the repeal of the
Sherman law the reformation of the laws
| relating to coinage becomes a duty de-
volVlng upon congress- and is not at pres
ent subject for executive action or in
reference. 1t remains to be seen
whether congress will act as wisely
as the President has done. Promptly re-
peal the Sherman law. Give nature
chance to get back to its normal cOndi-
ton. Restore confidence in the ability of
the government to maintain its financial
policy, help the crippled banks to resume,
light again the fires of our furnaces and
start anew the wheels of the factories.
Then let congress pause and reflect"
MUST FIND A WAY TO ACT.
In conclusion Mr.. Mcpherson said: ''Of
what use is legislative body that can
not act as the majority desires2 That a
minority Of this body should be allowed
to stand as an obstacle to the other branch
of the legislature in opposition to the will
of the majority of the people, is not to be
endured, and the Senate must find a way
to exercise its constitutional functions or
| cover itself with contempt.
When Mr.. Mcpherson had concluded his
speech, Mr.. Stewart, asked whether he
accused the minority in the Senate on the
repeal bill of attempting to thwart the
will of the majority.
MIR. Mcpherson replied that he had not
! yet made such an accusation, but he did
not know what he would do before the de-
| bate closed.
Mr.. Stewart then argued as to the i'm
| portance of unres trained debate in the
| Senate, expressing the belief that this
| government would be a monarchy to-day
| had it not been for the Senate. Mr. Stew
! art drlfted into a general free coinage
! speech, but Mr.. Cockrell, who had yielded
| the floor to MIR Mcpherson, became i'm
patient, and Mr.. Stewart, observing it,
soon took his seat.
| COCKRELL RESUMES HIS SPEECH.
Mr.. Cockrell then resumed his argu-
ment begun yesterday in opposition to the
! bill. he started with a statement that
any international agreement with Euro
| pean governments was now impossible.
After Mr. Cockrell had been speaking
nearly two hours, MIR. Allen of Nebraska
called attention 10 the fact that only
eight senators We're present and the pre-
siding officer directed that the roll be
called. just quorum responded and Mr..
Cockrell continued his speech
Mr.. Cockrell read extensively from the
reports of the international monetary CON
| ference of 1867, to show the part taken by
Senator Sherman, whom he said had
never been given proper credit for
his efficient work in aid of the stablish-
ment of the single gold standard. To
that conference the United States
sent Samuel Ruggles as it's repre-
sentative, but Senator Sherman was
in Paris at the time, unauthorized,
and he was introduced to the conference
as the chairman of the finance committee
of the United States Senate. That was
the only opportunity the United States
| ever had to secure an international BIZ
metallic agreement, but it was rejected,
and Senator Sherman was more response
bic for its rejection than any other man.
INTERNATIONAL BIMETALLISM DREAM.
international bimetallism is a mere
| dream, - he declared; you might Just as
well seek an International language In
| ternatiOnal bimetallism was prevented
when the language of the world was CON
| fused at the tower of Babel
do l understand correctly" asked
| Mr.. Hawley, rep, of Connecticut, THAT
the senator from Missouri claims that the
nations of the world generally are op-
| posed to an international agreement
Il have not yet found a solitary nation
in the international conferences, " replied
Mr.. Cockrell, (which was willing to give
up its monetary system for any other that
was proposed
/ Mr.. Cockrel. without concluding his