The record-union., 1893-08-23
Special to the REcoRD-Ux1ox.


transferred to the Senate to-day. when
Senator Voorhees, made great speech
justifying his position in voting for the
unconditional repeal of the Sherman Act.
Nearly one-third of the entire member
ship of the House gathered in the rear
seats, and the galleries above were packed
TO suffocation. The speech of Senator
voorhees, was one of his greatrst efforts,
and while the Senator did not abate' one
Jot his past bimetallic record, the burden
of his argument was directed 10 proving
that the repeal of the Sherman Act was
proposition which as necessity could
have no material effect on the merits of
bimetallism as public policy.
Allen gave notice of an amendment he
would offer to the Voorhees, bill. 1t pro-
poses to the repeating clause of that bill
provision that hereafter standard silver
be coined into dollars, halves, quarters
and dimes at the present ratio of l6 TO l,
under the same conditions as to mintage
and other charges enforced in relation to
the coinage of gold, and that the Secretary
of the Treasury shall, without unneces-
sary delay. cause all silver bullion owned
by the Government to be coined into sill
Yer dollars, to be legal tender.
Voorhees, then took the floor and ad-
dressed the Senate in advocacy of the
bill reported by him disseminating the
purchase of silver bullion.
He explained that the action of the
President in conyening the extra session
was owing to loss of confidence in the
financial world. "This loss of conf
dence," he said, twas not in the credit of
the Government, which was better to-
day than any other Government on the
globe" He praised the Administration
for its refusal to crafty the demand of
the capitalists for the issue of $500, ,000, 600
more bonds, summarized the element of
the Nations financial strength within its
own borders and regretted that legisla-
ton had checked our foreign trade and
had left us to-day without a commercial
friend IN the world He had faith that
the giant evil which had crippled the
commerce Of the country would be re-
moved with other evils which challenged
attention and action. If the true great
ness of the country was studied it would
be seen that financial panics and alarms
could have no foundation here.
There was another exceedingly pow-
erful test of the Governments credit.
Money was simply a medium for the ex-
change of values. Money was a creature
and Congress its creator. Gold and it's
intrinsic value went for naught as a cir
culating medium, unless the 6oin bore
the stamp of the Government. The same
official stamp on silver or paper at once
ennobled them with the same quality
with gold in its purchasing power, no
matter how debased or valueless the ma
terials may have become as commodities
by sinister or unwise legislation. There
were nine different currencies used in
transacting business in this country, of
which eight were uniform in such pur-
chasing and debt-paying power as made
them interchangeable. Never but once
had these currencies been discredited by
the Government, and that may never
happen again. 1t was the duty of the
Government to furnish sound, reliable,
constitutional money for the people. We
are now confronted by a law without
precedent or parallel in American his
tory-a law which has resulted in tinan-
cial panic, alarm and distress, and for
whose repeal Congress has been con-
vened."
Voorhees, characterized it as "a COM
promise born in an evil hour, the worst
and darkest that ever befell the cause of
bimetallism or the honor and existence
of silver money" He characterized it as
"a Republican measure to induce the
producers of silver to surrender their
rights to free coinage. Its creators now
stood ready to leave their victims Of mis-
placed confidence empty-handed, with
out the privilege of coinage of their sill
yer or the selling of it as a mercantile
commodity to the Government. Silver
degraded to commodity could no longer
hold its place with gold as part of the
specie basis of this country, and it was
now reeling and staggering under the
blow, until its enemies predicted with
Joy its speedy destruction" He con-
graduated the Democracy that mot a
single Democratic vote had been cast in
favor of the Act. As a bimetallist ne
voted against the passage of the Sherman
Act, and for the same reason he would
now vote for its repeal" He avowed
his unshaken faith that "silver would re-
main forever one of the worlds great and
potent factors of finance, commerce and
traffic in daily business transactions. 1t
would neither be cdemonetized nor driven
away from the habitations of the greater
masses of mankind.
1.-The question has been asked whether
votes would be given for unconditional
repeal of the law before substitute had
been agreed upon. He was in favor of
eradicating this confessed evil from the
bodv of our laws with no other condition
than his right and free agency to support
and secure in connection with its repeal,
or afterward by Independent measures. a
sound financial system, embracing the
coinage of silver on an equality with
qold. which had been the declaration Of
the Chicago Democratic platform"
Mr.. VOORHEES, defended the President
from the charge of insincerity in connec-
tion with the silver plank of the party.
He SAID: "The President had never re-
called. retracted or explained a single
word of his letter of acceptance, which
,,as inst as binding as when first given to
,ho world. He was willing to stake his
ta;tb in the truth and honor of Grover
cleveland, and his well-known fidelity
20 his nledges when once made. He paid
= bigh tribute to Secretary Carlisle, and
said. "God help the Democratic party if
ore N turn our backs on such men as
tbo president and his Secretary"
He smoke Of the ratio as a matter of de-
all which Congress would establish on a
fair basis. He said the people would not
.aiorata a single gold standard, and then