Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-09-02
BOURKE COCHRAN.
The New Yorker Speaks Strongly for Re-
peal and Against Blmetalllsm.

| the mouse. In opening TIC Sdlu tildt
after listening to the speech of the gen
tleman who had just taken his seat,
every one would admit that the argu-
ments in favor of the free coinage Of
silver were picturesque rather than
convincing. He concurred with the
gentleman from Michigan that when
congress adjourned last March the
country was prosperous while now the
gaunt specter of starvation is stalk
ing abroad through the land. The rem
edy for this condition Of things ought
to be sought for free from the spirit OF
partisanship. He could not agree with
the gentleman from Maine that these
periods OF depression were insepara BILE
from the advancement Of civilization
but that each was due to a specific
cause which might readily be discov-
cred. The democratic platform did not
declare for free coinage. An attempt
was made in the convention by del
egate from Colorado to commit the
party to that principle but failed
to secure ten votes on the floor Of the
convention in support of the PROPOSE
ton. 1--WE are told" he went on, by
Colorado and Nevada that we are in
this matter departing from the plat
form. II that is the case why did those
states take to the woods in 1892? 1t
was because these states abandoned
the declarations of the democratic plat
form. The gentleman from Colorado
| (Mr. PENCE, who so often entertained
his associates on the floor. was added
to the membership Of the house.
Mr.. Cochran devoted himself to an
historical resume of financial leg.sla.
ton and asserted that there waa no in
stance in tho history of civilization
where gold and silver ever circulated
side by side on any ratio. 1t was
impossible that they should do SO
and he defed the gentleman from
Missouri (Mr Bland) to name an eX-
ception. The fluctuations of the values
OF the two coins were sufficient to con-
stantly drive out the dearer metal. and
this was the inevitabl result. France
was compelled TO import 5000, 900, 900 OF
gold to maintain the parity OF the sill
yer which she had coined. That was
what tho United States would have to
do if it desired to maintain the parity
of the silver already coined.
Referring to the assertion in the re-
cent speech of the gentleman from Ne
braslsa (Mr. Bryan that silver was still
the basis of value Of the farmers prod
ucts, Mr. Cochran inquired IF that be
so why do You not give him the full
value of it? You would give the farmer
371l4 grains of pure silver while l
should give him 65oi4 grains. Do these
gentlemen fear that silver will have
the same effect upon the human race as
alcohol: that while little of it Is apt
to stimulate. too much will stupefy and
destroy? Laughter.
The debasement of the coin proposed,
Mr. Cochran said. would have the re-
suit of reducing dcbits - per cent The
gentleman from Nebraska assumed that
the loss would fall on the banks. But
the fact was that in the very nature OF
things the banks and corporations
were the debtors of the country and
the workingmen were the creditors.
Gentlemen" he went on, tell us
that gold has appreciated. deny it.
The Aldrich report shows that never
before in the history of the world did
the laboring man of America receive so
much in gold for his labor. Cheers.
But tho gentleman from Nebraska and
the gentleman from Missouri propose
by their plans to make the bankers of
New York alone a present of SCI, 900, 900
in the settlement of accounts with their
depositors and to deprive the labor.ng
man of 45 per cent. of the value Of his
work"
Mr.. Bryan asked: "Will the gentle
man kindly state how. il his statements
respecting the gentlemen from Missouri
and Nebraska are true, the banks of
New York denounce us and T. V. Pew
derby is with u.s." Applause.
Mr. Cochran replied: II will answer
1t is because the bankers of New York
have learned that in business and vol
tiles alike honesty is the best poliGy."
Applause.
Continuing. Mr.. Cochran said the
trouble in this country was not due to
lack of money, but to lack of redund-
ancy of money. Money was not wealth;
it was the machinery with which trade
was worked.
Mr.. Cochran held that these periods
of depression were without exception
due to an extension, either of the cur
rency of the country by Legislation, or
of credit beyond the capacity of the
business interests to support. The
operations of tho Sherman law, he said,
proved the truth Of the statement 1t
had increased the volume of currency
and now tho stringency was upon the
country MIR. BANDS proposition TO
give 371H grains of silver for G514
would be called robbery if it related to
wheat and corn. The farmer suffered
most under tho operation of the Sher-