The times. [volume] (Richmond, Va.) 1890-1903, 1893-09-26

w nat is tndtE NoOfnetS dSktNs NHtU
he realized that the dispatch had used
HIS name. Then he got the paper at
the clerks desk. read 1t, and returned
to his seat without making a remark
Stewart, however, offered an apology
stating that he had had the dispatch
read, but not for the purpose Of rejecting
upon the Senator from Indiana,
AT / O'Clock the Vice-President an
nounced the unfinished business. "the
( repeal bill" but Stewart asked the priv
flege OF going on with his speech. II
have no objection on my part" said
/ voorhees,. "to the Senator's going on
and finishing his speech"
What is the Senator's requestY the
Vice-President inquired.
"To proceed with my Speech" Stewart
replied.
with the regular order pending?,, was
Voorhees, addition 70 the request.
II do not care what is pending" said
Stewart II can speak on the bill or on
the resolution. but I want to have the
resolution acted on"
After some colloquy and an objection
by Washburn to a proposition not TO
send the resolution TO the calendar Stew
art proceeded with his speech.
After talking more than two hours
and a half. Stewart paused and said
that he wold now like to yield the floor
to the Senator from Pennsylvania Cam
eron). but he would 90 on with his speech
whenever the Senate would let him.
He had not got to the main point Of It
yet.
Cameron's Speech
Mr. Cameron then took the floor and
addressed the Senate i'm opposition 10
the bill. He read his speech from manu-
,,fI md In, ~
Senators from both sides Of the chamber,
who felt much curiosity and interest in
the position which Mr.. Cameron occupied,
got chairs in his immediate neighbor-
hood and listened to him with close at
tention.
He began by calling attention to Mr..
Gladstone's speech In the House of Com
mons, February 2Sth last. In that speech
Mr. Gladstone said that England was the
greatest creditor Of the countries OF the
world; tfat her foreign investments in
creased largely every year; that one thou
sand millions Of pounds would be an ex-
tremely low estimate OF English credits,
and that under these circumstances 1t
was rather a serious matter TO ask that
country to consider whether they were
going to perform this act OF self-sacrifice.
You will observe that the supreme act
of self-sacrince." which Mr.. Gladstone
considers 10 be contrary 10 the interest
Of England as the great creditor Of the
countries Of the world. is the attempt 10
maintain or restore 10 silver the func-
tions Of serving as money.
/ am tempted 10 sit down and leave
this speech OF Mr. Gladstone 10 stand
alone as the ground for the vote ] shall
have on the bill now before us. 1t Is
ground enough. To my mind, IL carries
conviction as 10 the true course or an
American. The official ayowed policy OF
England is 10 prevent the restoration Of
silver TO its function as money because
the moneyed interests Of England re-
quire, or think they require a mono
metallic gold standard. l have stated the
case with great moderation and have
passed not a word OF blame on Mr.. Glad
stone who merely represents policy
which England has always followed and
avowed Any further measure which
tends to discredit silver is at least for
the moment a furtherance OF the British
policy: it tends TO support the mono
metallic gold standard.
Mr.. Cameron, in conclusion, TIatcd DIS
remedial propositions thus: we all agree
that, with Europe and Asia in their pres
ent critical state Of equilibrium, 9uy Sill
yer or paper currency needs a larger guar
anty than usual. For that purpose l
propose gold loan Of so many hundred
million dollars as Congress may decide,
10 be bought at the market rate, and
held in the treasury as the gold reserve
is held I'm the Bank of France and by the
governments of the Latin Union.
Il propose to open our mints 10 the free
coinage Of American silver, imposing
duty on the import of foreign silver.
propose further. for the benent OF the
Asf
the South. TO repeal the tax on State
bank c.rculauon-a measure which IS IN
tended to give them a free hand IN NOV
ing their own crops. developing their re-
sources and relieving them from their
servitude TO the great capitalist cities.
look for no effect, or little. from this
step. as far as the North is concerned.
would also press once more for action IN
favor OF our shipping. The bill Tor that
purpose is known to you, and neither l's
object nor its methods should be HatleF
of party division. To meet, in part the
deficit Of our income for next year,
would relmpose the duty Of two cents a
pound on sugar, and repeal the bounty
Then / would wait a year to see now the
system worked, and hsw far we were |
affected by foreign influence.
"As for our foreign exchanges, they are
automatic and will take care OF theIn- |
selves under any system They nave zone
vben we had no currency at ALL Wheh We |
had gold when he had irredeemable pa !
ner and when we had silver. III Europe |
wants our gold let her have IL II she can |
nav for it-that IS 10 say, All except the /
gold I'm our treasury. No general or spe- |
cial legislation is likely 10 pass this SEN
ate unless ii is comprehensive enough 10 /
command practically universal assent. 10 |
that object | have addressed myself III |
any other senator brings forward scheme |
more comprehensive, more liberal, con- |
ceived i'm a spirit OF wider or more gen
erous union, / viii give him my support |
Bate then addressed the Senate In oppO- |
sition TO the bill. he began his speech oy |
referring to one of the sententious SEN |
tences used by Mr.. Cleveland a few years |
ago. adapting IL TO the situation to-day |
and asserting that the country was no" |
confronted with both theory and CON
dttfon which were barring the way 10 |
great and pressing reform.
A congested condition OF trade demand ID
Immediate relief, business confidence
prayed for restoration; the one preclois
metal left 10 our currency Dy uh"lse
came and went ike the eDD ana
flow of the tide. Under the constitution
said Mr.. Bate there was no dlscrlhlha-
tion against either metal, ana the consul
tuition did not authorize Congress 10 holu
one 10 he precious and 70 make the otheF
a mere token The sovereign power 10
coin these metals into money resided IN
tbe independent States. and was by them
ira ansferred by specific grant 20 their
,,ent-the Congress, and that power WAS
- - -, from gOld or silver blf !