The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-26

said that he had been in favor OF free
coinage OF silver. but his opinions and
convictions had changed, and he would
now vote for the unconditional repeal
OF the purchasing clause OF the act OF 1880
Mr.. Money (Miss) said that he had come
to Washington prepared to vote for re-
peal; but since he had been here he had
changed his front II not his views. and he
intended TO vote against the repeal OF
the purchasing clause Of the Sherman
law. Mr.. Durborrow Dem. Ills.) argued
that the United States alone could not
adopt free coinage.
Mr.. Springer followed. He said: l at
tribute the actual condition which now
exists in the country to three control
ling and fundamental causes. First, the
tariff legislation since the war the pro-
tective tariff laws. which are imposing
enormous burdens upon the people Of
the country TO protect favorite interests.
T..ere has been over-production by this
unnatural stimu ant, there has been over
borrowing. over-trading. over-drafting
and thus Inevitable disaster.
The second cause. In my judgment, for
the present financial condition Is found
In the demonetization of silver in 1878.
and the third cause. the authority given
by the Sherman act to purchase 4.50O
00O ounces OF silver each month and issue
Treasury notes thereon, which Treasury
notes, under the ruling OF the Treasury
department are redeemabe In gold
There are, OF course, other causes which
might be referred to. but these three,
1t seems to me, are those most respOn-
sible.
We have been called together
by the President In extraordinary ses-
sion for the sole purpose OF effecting the
aol Of ~ h.Il
answer this universal demand for re
peal, demand which meets no negative
response throughout the length and
breadth Of the land, with the statement
that we will not repeal the purchasing
clause OF the Sherman act until Con-
gress agrees TO do something else on
some other matter? 1t is Just as pariia-
mentary, Just as reasonable 70 insist
that a tariff bill shall be included i'm
the bill for the repeal Of the Sherman
act. as 20 insist that a measure for the
demonetzatlon OF silver shall also be
incorporated In that act.
The depreciation OF silver has. IN my
judgment, resulted from two causes:
First its denomination by the United
states and other great powers OF the
world. and secondly by the enormously
increased production OF silver bullion
since demonetization took place. As
soon as this repeal measure is adopted. |
trust that the lawmaking power OF the
Government will enter upon the consid-
Grafton OF the subject and the members
Of this House will put forth every effort
I'm their power 20 investigate thoroughly,
and afterwards 10 formulate properly
such a measure as will meet fully the ex-
pectations Of the American people.
Some have charged that President
nj will ha
representatives OF the people upon this;
that he will not sign mis- name 10 a mea-
sure giving relief 10 the people and car
rying out our pledge to make the largest
possible use of gold and silver az a part
Of the money OF the country. II II be that
he will prove false 10 his trust II were
better for him that n milestone were
tied about his neck and that he We're cast
into the sea. 1 do not believe that any
gentleman upon this floor cntemplates
such treason. I do not believe for
moment that Grover Cleveland would,
in the slightest respect prove false 10 the
y edges he has made. Al no lime IN the
past has he shown a disposition 10 shrink
from the responsibilities Of his station or
to go back on his solemn pledges 10 the
people. / believe that the representatives
Of the people upon this floor; the Demo
cratic party az represented in the Senate
and the President Of the United States
VIII unite ia making good the promises
that we have made to the people, and
upon which we secured the election Of a
large majority I'm this House majority
In the Senate and an unprecedented ma
jority OF the electoral college I'm behalf
Of the candidates OF the Democratic
party
Mr.. Slckles, OF N. Y, advocated the
repeal Of the purchasing clause Of the
Sherman act.
Mr.. Catchings interrupted the proceed
ings long enough TO report the rules Of
the House. Without reading they were
orderedprinted Mr.. Payne(R) had voted
for the Sherman act from high sense
OF public duty. He would vote for the
repeal Of the purchasing clause also from
n high sense OF public duty. applause.
Mr.. TaylorDem. Ind spoke FOR bi-met-
allism. Mr.. Brawley Dem..S. O. advo-
Gated the Wilson bill. No words should
be wasted The Sherman law should be
repealed at once.
Mr.. Breckenridge(Ark.) would. under
existing circumstances, vote for the re-
peal. Mr.. DolHvarRep. Ia) advocated
the Wilson bill. While he had little con-
fdence in the remedy proposed. he was
not willing 10 deprive the business COM
muilty Ol SucH 'VlSOldivH ID IhsHt
come 10 II from the application OF the
faith cure. (Applause) Mr. GroutGep.
VI spoke I'm favor OF repeal, as did also
Mr. Campbell Dem, TENN Mr.. McEt-
trick lem. Mass) supported the Wilson
bill. Messrs Slpe Dem, Pal and Gels
enhainer DENIM. j. spoke In favor Of
repeal and Mr. Richardson Oem. Tenn.)
advocated free coinage at any ratio.
Mr.. Simpson Kas) asked unanimous
consent for consideration OF a resolution
the Speaker TO appoint a
committee Of five members TO investigate
the allegation that certain banks were
not paying their checks, and to enquire
into the conduct OF Secretary Carlisle
and Comptroller Eckels in the premises.
The Speaker ruled that the resolution
was not In order. and at 5:S5 the House
took a recess until o'clock.