Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-31
A PLEA FOR SILVER.
Senator Wolcott's Speech in the
Senate Today.
CRlflclSlHG Mr.. VOORHEES,
Mr.. Hill Also Comes in for Some
Comment.
THE WEST AND THE EAST.
THE WEST AND THE EAST.

MI Wolcott today made q speech in the
Senate on the silver repeal bill, presenting
the side Of the silver men.
MT. Woicott began by saying that 1t was
unfortunate that this financial panic was
unaccompanied by the widespread relig-
ious revival which invariably. 1t was said,
followed panics. The ready and complete
change Of heart, however, on the financial
question which had been witnessed in the
senate chamber gave evidence that 1t was
a time when men were especially open to
conviction. And Is the administration with
Its petty spoils and patronage had been
able TO make so many converts what might
we not hope when the assurances of fu-
ture happiness would be not for four short
years but for eternity. The misfortune
under which the silver men suffered was
that the administration conversion came
first. for If the hearts Of Senators had first
been impressed with the littleness of the
things of this world and the glory Of things
supernal the people, who were to be the
sufferers. would not have been deserted by
their representatives. Except as patronage
might be used to effect Congress there was
no criticism to be made respecting the pol
Icy or the administration. Criticism Of the
secretary OF the Treasury was also mis-
a
residents household and committed to
his policy. Nor was the President open to
structure because Of his message, for he
had always been consistent and persis-
tent opponent OF silver coinage. The west
knew last year that, whoever was elected,
Its reliance must be placed in Congress,
which had more than once risen above the
personal wishes of the Executive
Either for Them or Against Them.
Senator Wolcott sarcastically referred to
nher Of xvbo
sing to be bimetailists. held that an inter-
national agreement was necessary. and
pointed out that thereby they accepted the
single gold policy of England. He said
that the friends of silver were not carried
away by such utterances as those of Sem
ator Hill Of 1.-The other day. Who was not
for them was against them and his speech
would have been as logical II made against
silver and in favor OF unconditional repeal.
The Senator knew that free coinage by
separate act was impossible during this
administration and that any assistance he
desired to render must come now or not
at all. Silver had been compelled to bear
everybody's burdens for many months and
1t seemed now to be involved In some fash
ion with the democratic factional differ
ences in New York.
Criticising Mr.. Voorhees,.
Senator Wolcott next paid his respects to
Senator Voorhees,. and said that his change
of front was one of the most remarkable
and ominous occurrences. He attacked the
Senator's record on silver and national
banks and said that all his past utterances
as shown by the record We're words writ in
water" He quoted from the Senator's srti-
Gle last year in the North American Review
to show his lack Of consistency and asserted
that now for the firts time he tVoorhees),
supposed to represent the masses, and Sher-
man. supposed to represent the classes, we're
In complete accord in financial matters. The
wolf was dwelling with the lamb and the
leopard was lying down with the kid This
harmony. he feared, would not continue
long and when they arose they would be
fewer in number. There could be but one
chairman Of the finance committee and
without undertaking the abilities of the
Senator from Indiana he looked forward to
the resumption of the control Of the COM
mittee by the Senator from Ohio and re-
called Pharoah's dream Of the lean kline.
He adjured the Senator to remember Solo,
mons admonition that "It is better that
thou shoudst not VOW than that thou
shouldst vow and not pay" treferring TO his
advocacy Of silver).
MIR. Cleveland az q Bimetaliist.
No man could be bimetallist In the
sense that he believed in the further coinage
Of gold and silver by the United States and
advocate this bill. The President would
undoubtedly veto any independent measure
for the free coinage Of silver and there vas
lieve this to be true. Any man who vouched
for Mr.. Cleveland as a bimetailist would
vouch for the man in the moon. Why not
act now on the whole financial question? 1t
was glibly said that we could have further
LEGISLATION later. We should never kEow
any more about silver than we know now,
and Congress was in session to deal with
the subject. 1t might be true, as Senator
Hill prophesied last week, that the pur
chasing clause would be Internationally re-
pealed, but it was equally true that he
might find 1t necessary after n time to Ie-
wise his prophecy.
II this act should pass and silver bc as it
must, absolutely dethroned and degraded,
he knew of no reason why any senator
who believed in free coinage should ever
cast another vote in favor Of protaction in
any form. This was an era of experiment;
let US experiment all around. Even II 1t
were true that our abandonment Of silver
would in time compel other nations TO its
use. the step would be ruinous and unneces-
sary. We could absorb all the silver offered
for coinage without imitation of the cur
rency and without impairing our finarcial
credit at home or abroad. He had demon
strated few days ago the folly of the
statement that the repeal of the Sherman
act would restore confidence. This was a
bankers panic and II you ask banker to-
day how the repeal was to restore conf
dence ne could not tell you: The depositors
who drew out some $1SO00O,J00 did not
complain of the act and none OF
them drew out money because of the ex-
istence of that law. 1t seemed unaccouEta-
BILE that in panic times banks should not
desire an increase in the volume of the
money. Their plan was. however, after re-
peal to ask for the issue of 0000O, 900 Of
gold bonds, and they had good reason to te-
lieve that a complacent finance committee
would authorize such a bill. While waiting,
clearing house certificates based on redis-
counted paper furnished an excellent sub
stitute for money. No more remarkable
statement had ever been mace than that
by Mr.. German, when with bated breath he
urged the Senate not to inform itself Of the
facts with regard to the condition OF the
banks but to let the controller alone.
The West and Wall Street.
A western point Of view was not OF much
value these days on Wall street, but he
,,.ntur>d IN au0ueaf IN the able fnancferS