New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-20

States would adopt free coinage bill and wouid
come to a silver basis because then she wouid get
our sTOOo00OO Of gold. The United States couid not
| afford to adopt free coinage policy now. NO
! country alone could maintain such coinage. Inc
only path to free coinage was through international
agreement and the only way to reach that pain
was IN repeal the purchasing clause of the Sherman
act As a bimetallist he did not wish to see this
country relegated to silver basis.
Mr.. Bland Dem.. Mo- inquired whether the gen.
| tIemans position that unless every European
nation was in favor Of silver he would be in favor
Of a single gold standard
Mr. McCreary replied that the gentleman had mis-
apprehended his position. He was to-day as much
in favor of silver the gentleman from MIS-
souri,. and he was in favor of travelling over the
only road which led to free coinage OF gold ana
the free coinage OF silver
Mr. Bland inquired why the International None
tary Conference had postponed its meeting from
May until November.
WHY THE MONETARY CONFERENCE WAS POST
PONED.
Mr. McCreary replied that 1t had been postponed
in order allow the policy Of bmetallism to grow
in England. 1t had been postponed In the interest
of bimetallism.
Mr.. Bland inquired whether the gentleman had
said that the meeting OF the conference had been
postponed for the purpose Of demonetizlng silver
in this country.
Mr. McCreary-I decline to yield to the gentleman
IL he insists on incorporating my position. l
have already stated that the postponement in
the interest of bmetasm
Continuing his speech, Mr.. McCreary expressed
his regret that the question of change of ratio be-
tween gold and silver had been injected into the
discussion. He had sympathy with those who
now desired to change the ratio FROM l6 to l to 70
to l. To change the ratio would be to strike down
and destroy every prospect Of international agree
ment To change the ratio would be to discredit
every dollar of silver in the United States The
first duty of Congress without delay to repeal
the purchasing clause of the Sherman act the sec
ond duty to let free coinage alone Tor the pres
ent; its third duty was stand by patriotic
President in his efforts to advance the prosperity OF
the people and the welfare Of the Nation.
A DEMOCRAT, But AGAINST FREE COINAGE.
Mr.. Catchings Oem Miss) said that he would
for the unconditional repeal Of the purchasing
clause OF the Sherman act, and he would vote
against any proposition. directly or indirectly iooK-
ing to the free coinage of silver in this country at
this time at any ratio that could be suggested.
He had come to this determination AFTER caielui
consideration and after careful study of the chi
cago platform. 1t had been said that no DeihocId'
could vote against free coinage He was a Demo
crat. His democracy good as that OF any
man on this floor, and he would not allow any one
to challenge question 1t. lie stood ny ever!
plank of the Chicago platform. but that piatioiih
nowhere demanded the free coinage of silver at TINS
country and expressed his opinion that the act OF
ls73-miscalled a decentralization act-had not de-
monetized one dollar of silver on the whole gloDe'
II we threw mnts open to the free com
age of silver would not the experience OF Ihdla DE
repeated in this country, and would not there DE
repeated here a fall in the value OF the SILVER uoi-
lar? The United States was the greatest nation
on the face of the globe and contained the proud
est people. Every man who took silver noliar
to-day knew that this great and proud people ga
NOT nte q IL
man who took silver dollar knew that !. Wouin
bonds TO- draw gold from other countries The sill
yer dollars obligations of the GoXerhmeht Jus
did not take silver was that the world did not
want IT, except in limited quantities.
THE SHERMAN ACT TIE ROOT OF ALL EVIL.
He was in favor of the repeal Of the purchasing
clause of the Sherni.n because it would tend to
restore confidence. ! would 90 further ana say
that it would res'ore confidence and unlock the
money that had been hoarded mp. To the sherman
act he attributed the present depression He did
not believe that the failure Of the Earring r9theIs
was responsible LOT rng P", vhicb would naturally
be first Affected. He dd not believe that the panic
There was no panic in Australia or in Great Bri,,in
He therefore disregarded both these events as esns
found itself He contended that II was absolutely
impossible for this country handed ana aione
to drag down the price OF gold ana enhance the |
He knew that his people-the people whom he
sincerity OF purpose. and he knew that they Wouid |
have the same contempt for him that he would nave
for himself If. after investigation OF the hnancih
question. he had not the courage Of his CONVICTIONS
Mr Livingston Dem. Ga) concurred in the senti; |
ment expressed by the gentleman IRON MaTSsp
should rise above party. on this subject there |
should be no Republicans no rhold n2 not ris
above partisanship and discuss ana dispose OF tne
favored bmetallism. The plain question now PR
scented between single gold standard ana Ut,
IT. ,latfn
the Sherman act as q cowardy makeshift; make
shift for what? For single gold siandarTS N No;
makeshift for the free coinage OF silver me bli
Da ' act did not place ~ Deocraiic party where
MED that the purchasing clause was responsible"
the present nanea and S.1 to Sr@Gs
asking for relief and they had been greeted az
present Governor Of New-York that within two
years the calamity howls" would come from an
other quarter.
THE PRESENT CALAMITY HowIERs.'
Who was now bowling for relief? The farmers?
No They had ceased TO be calamity howlers
They had been squeezed until there was nothing
more to squeeze from them. The howl now came
from the banks and the bankers. 1t was now
by placing the United states on single
of "a receiver and turn 1t over TO England The
men and the sine so men no U ,ba1 h
gold craze had taken deeper root than they had
CHASING clause Of the sherman act We're repealed
the price Of products in this country would not be
increased The gentleman from Kentucky tMr.
McCreary) had spoken in favor OF an lnterna-
tionaI Monetary Conference. Why not have an In
terstate Monetary Conference He that pro
vides no, for his own household hath denied the
faith and is worse than nndel" He would
hail with delight proposition that the Governor,
the Secretary and the Treasurer of every state !
be called together in Washington city. there to dis
cuss what was good for the United States Con-
gress was now endeavorng to hitch the horse at
the wrong end of the cart.
Mr. Richards Dem., Ohio) believed that Pres-
dent Cleveland was right In attributng TO the
purchasing clause Of the Sherman bin the present
business depression.
The House, at 3 o'clock. took a until s.
TALK AT THE EVENING SESSION.
After the recess. to a crowded gallery. but TO
n small attendance the floor. Mr. Curtis Usep.,