The Helena independent., 1893-09-02
Unconditional Repeal Would Be
Death Blow TO Silver, He
Declares
Effect OF tho Destruction Of Hall
tho Worlds Currency APP
pallin9.
Prod uetion and Coinage Of Gold and Sil.
yer since 1S73-voorhses Asks
for . Vote.

"AbdlNS1ONS Copss b0u0t0 tOOk
up the bill to repeal the silver purchase
clause of the She man act. Vance. Of
North Carolina, one OF tho minority msm-
befs Of the finance committee. spoke in
opposition TO the bill and in favor OF free
coinage. A large part Of his speech was
devoted TO showing the Inconsistencies Of
the friends Of repeal In both parties In
view Of the bimetallic declarations of both
national platforms. He quoted from those.
commenting in an ironieal strain on tho
way in which the pledges were being full
filled. Ho said they seemed TO think the
only way TO maintain the parity bstween
gold and silver was to hrst strike silver .
death blow. Unconditional repeal would
be death blow. for it was we'll known that
Cleveland would veto any silver coinage
bill.
The effect on tho condition of mankind
following the destruction of half Of the
currency, aggrogatina seven and a half bill
lion dollars. would bs impossible to ao-
curately describe. He gave the history Of
the decentralization of silver and declared
that every government which had demone-
tizsd the white metal did 80 when 1t was at
q premium. When coinage stopped In
India The sfors to have IL stopped tn the
United States began. aided By the influence
Of the monisd power Of the world and our
own government. II coinage were stopped
here. silver would cease TO live throughout
the commercial nations of the earth. I he
fall In price would be greater than that fol-
lowing the stoppags Of coinage in India.
Repeal without = substitute meant The
f1jI Far ION
unless a revolution of the reopls should re-
store it. as after the fl fraudulent demonetiza-
tion of 1873. Let NO man doubt that the
proposed repeal Ia the result of . conspiracy
among the money holders Of the world.
He declared the Sherman law did not
with II still in force? The democratic plat
form. he said. denounced the Sherman act
as cowardly make-shift, vet this bill for
its repeal, striking silver harder blow. was
more cowardly and moro OF maks-shft.
He closed with declaration for ths free
coinage Of silver.
During Vance's remarks. Cookrell. of
Missouri, inter- eoted the statement of pro-
duotion and coinage OF gold and silver
from 1873 to 1892, which showed that the
production of gold amounted to $2.210.-
96l. 206. while coinage amounted to $27o7,-
714,679. or silver the production was g.
400, 76O. 533 and the coinage $322. COB, ,35L
At the conclusion of Vance's speech Voor-
hees sprung q surprise by asking for vote
on the substitute reported by the finance
committee to the house repeal bill. He
said no further debate is proposed at this
time, although notices have been given OF
speeches intended next week. He desired
that every senator who, In good faith.
wished to occupy the time of the sennte
should have an opportunity, but could not
take responsibility of being party to
nero delay, and when vacancy in talk had
been reached he wanted IL filled by a vote.
Discussion followed as to the parliament
tary procedure to be observed in c0nsiderA-
tion of the subject. and Voorhees, asked
that the finance com mmittse bill be substi-
tutsd for the house bill. Cookie oil objected.
until there WAS opportunity for full discus
sion. He prefer cd the house bill, saying
repeal shall not impair the legal tender
quality OF standard silver dolla he eto-
fore coined, to that in the senate substitute.
Allisol said the repeal clause in no sense
affected or impai cd the value of silver
dollars coined. but by inserting the house
proviso IL would leave q question Of doubt
whether that portion Of the herman law
stands which requires the secretary Of the
treasury to coin bullion into dolla'e.
The discussion continued and ut 1926 was
interrupted by q motion for an executive
session, after which the senate ijourned.
In the morning hour Teller submitted
resolution similar TO the ono recently
adopted a. 70 the month of july, for =
statement regarding silver purchases. eto..
In August. and ID WAS agreed to. White
COVE notice that on the 18th he would pre-
sent resolutions touching the death Of the
late Senator Stanford.