The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-26
SENATOR HILLS SPEECH.
BIMETALLISh THE ONLY PERMANENT
REMEDY For OUR FINANCIAL ILLS

| the Sherman Inv ms n Truce" Instead
| OF u "CowardIy Makeshift" -says, Toe,
| that While He Hn. Repeatedly soushs
| 10 Arouse the People TO tho Importance
OF tho Repeal OF that Law, Mr.. Clcveiape,
| Neither In His Notification Speech, Nor
| In His Letter or Acceptance, Nor In HIS
| Inaugural Address, Made Any Aliusion to
It Whatever. Although IL Was Thea
| Threatening tho Prosperity OF the Cons.
try-The Galleries Broke Into Applause
when Ho Said that He and His Col.
| leagues Would Vote for Repeal, Uaawsd
by Power and Uucorrupted by Patron sGe.
WASHINGTON. Aug. Ex-senator Hill delight.
| ed his friends and surprised and disappointed
his enemies to-day by delivering dignifsd,
| popular. and logical argument in favor Of BIZ
metallism and against what he regards as the
| policy OF gold monometallism Of President
| Cleveland. The speech had not been as widely
| advertised as that made few days ago By
| Senator voorhees, Of Indiana. and. indeed. Mr..
| Hill has been so unwell Of late that It was
somewhat uncertain whether he could speak
to-day. Moreover he took the floor at an un.
expeotedly early hour when. as o rule. only
routine business is being transacted in the
| Senate. Notwithstanding these facts there
| was largo audience present in the galleries
| to hear him, every Senator was In his seat,
and large contingent OF members OF the
House came over to the Senate. and from time
to time throughout the speech. and listened to
it with close interest. No Senator over had o
closer or moro critical hearing than Senator
Hills colleagues gave him to-day. They fol-
lowed him from the beginning to the end Of
his long speech. and the CONGRATULATIONS at ito
close came from those who meant exactly
what they said
Senator Hill has not been a conspicuous
popular man with his colleagues In the Senate.
His habits and personal characteristics are
such that he does not mix with mon and meet
them on the genial social. nom political foot
ing 80 common among public men In WASH
tngton. His speech o-day. however. Increased
the admiration which many OF his colleagues
have for his ability and his political attitude,
and to clear the minds Of his critics Of erro-
neous Impressions they had formed as to his
ability and character as public man. Tho
Senator was not In his best voice. being weak
from his recent illness. and yet his manner of
delivery was very far above tho average Of
prepared speeches. He made no effort ct
declamatory or theatrical effects. but stood at
his own desk and read his speech in a clear.
forcible. direct manner. that left none OF his
hearers in doubt as to his exact meaning.
When he declared that II the Presid ent turned
his back on bimetallism. on the estab ished
policy Of the country. and on the pledges Of
the Democratic party he would not follow him.
and that the President would have to rely
upon Republican Senators to carry out his
idea. Democratic Senators looked gloomy and
unhappy. but o smile OF amused satisfaction
irradiated the faces Of tho Republicans. The
galleries broke into applause when he dc.
clared that himself and his colleague would
vote for the pending bill. unawed by power and
uncorrupted by Federal patronage. but then
audience was threatened with removal IL they
repeated the offence to senatorial etiquette.
just as they we're when they clapped their
hands at Senator Voorhees's eulogy Of Clevs.
land and Carlisle.
nest advocate OF the repeal OF the Sherman act,
chiefly because that act, in his opinion. stands
in the way Of bimetalllsm. in which no thor
oughly believed. He advocated international
bimetallism. or. If that were impossible. BIZ
metallism In this country alone. and accused
President Cleveland of being o mon ometallist
and nothing else. He also charged the gold
men with being In measure responsible for
the present financial panic. and with keeping
1t alive for the purpose OF debasing silver and
giving the country practical object lesson.
The consensus OF opinion among mon OF all
parties and factions Is that the Senator's
speech was dignlled. able, and logical argu.
ment In favor Of bimetallism. and a speech
that will add greatly to his strength and
standing as q Democrat and q public man.
SENATOR HILLS SPEECH.
Beginning his remarks by On allusion to the
Presidents muoh-commended and much-
criticised special message to Congress-" Som
ator Hill supplemented the Presidents quota
ton from Daniel Webster by the opening sem
tence Of another famous speech OF the same
distinguished statesman. in which he urged
upon the Senate. before we float further ON
the waves Of this debate. let US refer to tho
point from which We departed" Adopting
Webster's prudent suggestion" said Mr.. Hill
let US first recall the peculiar circumstances
under which We meet. and the important char
acter OF the duty which surely confronts us at
this hour" Tho existing financial disturb.
ances, ne said. may be attributed to three
causes:
First-It is q natural or inevitable result or
incident OF many years of real or fictitious
prosperity. The nation Is not unlike an indi-
vidual. Sickness Is incident to humanity and
commercial panics are incident to trade. The
student OF history knows that financial panics
occur every twenty years. and our country has
not been an exception to the general rule. The
panics Of 1914. 1887. 1857. and 1873 should
have led us to anticipate ono in about 1893.
III HuultIOn W tNebo Cuubts. WHICH IOF the
purpose OF this argument Idenominate "natu-
raj" causes. against which 1t Is probable that
no prudence could guard or prevent. there was
much reat on to apprehond financial troubles
at this time, owing to the continued violation
OF correct business principles on the part Of
our business men and their haste to become
suddenly rich.
Our financial centres have been flooded with
watereG stocks of every description, in which
Innocent people have been induced to invest
their means by tho glitterng promises OF enor-
nous dividends which arc not forthcoming.
Candor compes mo to say that these transac-
tions have usually originated with that class
OF tlnanciers who !nfest our marts OF trade.
aud are to-day ostentatiously attracting pub
lie attention by their parvotlke clamor for an
" honest" dollar and against the continued
uss OF silver money
Besides. we are suffering from the evils OF
overproduction. The balance OF trade has un-
been against us. We have sold
our railroad and other securities abroad. in-
stead of at homo. and the interest as well as