Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1893-09-15
Senator Daniels Speech.

Senator Daniel delivered his great
speech on the silver bill in the Senate
yesterday. 1t was in opposition to the
repeal bill and in favor ofholding on to
the Sherman law until something more
favorable to silver should be presented.
He was closely listened to by most of
the members of the Senate and large
crowd in the galleries, though he spoke
for over four hours.
He quoted from bankers review to
show that it was an acknowledged fact
that the three distinct causes of the re-
turn of gold to to the United States
had been well identified. The first
cause had been the sharp decline in the
importation of goods from abroad. The
second was the enormous expectation
of wheat, flour, beef, corn, oats and
barley, which had been taken in guam
titles hitherto unknown by England
and the continent.
And the third was the collapse of the
corner in provisions in Chicago. Since
1878, he said, the foundation of credit
had been narrrwing, while the super
structure had been enlarging in width,
and growing higher. 1t had been long
evident to him that great crash would
come /; and now that it had come, it
was equally evident that there were
causations for it-among which he in
cluded the boom in real estate, and the
Mckinley tariff act.
He did not doubt that the repeal of
the Sherman law would have some ben
eficial effects in many directions. 1t
would give some immediate ease to
business and transactions, partially
through the hurrah which would be
made. Commerce would revive, but
much in the same manner that line Of
weary and hungry soldiers would re-
vive on long march when they heard
the discoursing of patriotic air. While
the band was playing their eyes would
brighten, but when the music ceased
they would realize that they were still
further off from rest and food. Sena-
tors should recollect that the uncondi-
tional repeal of the Sherman law was
the abrupt and total discontinuance of
silver coinage, and that the repeal bill
was fashioned after the republican leg
islation of 1873, which was called de-
monetization, because it quietly drop
ped silver from the coins. That legis-
lation had gone through the House
with soft and catlike tread this legis-
lation would go through the Senate-if
il went at all-with lions roar.
In the further course of his speech,
Mr.. Daniel said that if the declaration
in the VOORHEES, substitute were
changed into a legislative provision,
as suggested by Mr.. Walthall last
week, he would vote for it and
the Sherman law could be repealed
without another hour of debate. He
went Oh TO show the interest which
England had in destroying silver as
money, quoting, in that connection, Mr..
Gladstone's speech on the subject. The
Norsemen who invaded England many
centuries ago had sailed under "the
Raven fiag,n and had boosted that they
were "the ravagers of the world" The
present financial condition showed that
the breed of the "ravagers of the
world" was not extinct, and that the
craven flag" was still floating. There
were certain characteristics of the Eng
lish people that made them the nation
al economic foes of the people of the
United State.
He also complimented those demo-
Gratis who, in the hour of their coun-
try's need, did not permit President
of their own party to shake their faith
in free America and free Constitu-
ton. (Applause.)
At the conclusion of his speech the
Senators gathered around MIR. Daniel,
aud presented their compliments.