The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-30

stopping the purchase of silver, throw
the country upon gold basis. The coun-
trymah on the plain, who was astonish-
ed 10 learn that he had been speaking
prose all his life, was not more surprised
than certain gentlemen would be to find
out that this country had been upon a
gold basis since 1884 under economic
laws which the laws of congress could
not override. We had been on a gold
standard since 1884 by economic law
since 1873 we had been on a gold basis
by the express statute of congress. The
trouble was that as silver had gone down
the greater stress and test was put upon
the government Gentlemen had said
that If we would stop now the purchase
of silver under the Sherman act we
would demonetize silver. The bill pro-
posed here would rot demonetize a sin
gle silver dollar today circulating In any
part of the country The bill had come.
not TO destroy, but to save. (Applause)
II had come not TO strike down silver but
10 place IL at once on an impregnable
basis with gold I'm the circulation of the
country. tApplause)
Mr.. Martin inquired whether the pass
age Of the bill would necessitate the sale
of bonds I'm order To secure gold.
Mr.. Wilson said that a question of
that kind must be answered In the light
of experience, not in the light of proph-
ecy. In the light of the experience OF
France, OF the scandinavian nations, OF
Canada. OF Holland and Of Java, he
could merely repeat his remark that the
passage OF this bill would at once and
forever restore silver TO parity with
gold and there would be no necessity for
the government to issue bonds for any
purpose. (Applause)
1t carried with 1t not only a promise
OF maintenance of parity between gold
and silver, but it carried a parity. Gap
plause)
Mr. McMillin inquired whether the
gentleman proposed to follow this bill up
with proposition for free coinage.
Mr.. Wilson rejoined that he sat
isfied that it was the earnest desire OF
the democratic administration not only
to support the existing silver circulation
in this country but to increase the issue
of silver currency to the utmost extent II
1t was safe to do so and keep silver on
n parity with gold. Applause) Gentle
men complained that prices had fallen.
Why should gentlemen complain of this
when the prices of labor had gone up2
That was the emancipation of man from
constant pressure. IL men could gather
time for their own cultivation, IL they
could surround themselves with luXuries,
were gentlemen going to declaim against
them? (Applause)
Now for the benefits which would ac-
crue from this BILL The first benefit
was the restoration of confidence among
the people in their own money. just as
soon as we drew the line and said that
for the present at least we would pur-
chase no more silver. every dollar now
in existence in this country would be as
good as any other dollar, and men would
not care in what dollar-gold, silver or
paper, his debts would be paid. There
could be no expansion of the currency
that would work so quickly and so salts
factorily as to let loose from its hiding
place 81, zoe, 100000 now in this country.
1t was not so much the quantity of
ne he hot
store confidence Restore confidence in
the currency Of the country. Let every
man understand that every piece of
money in the United States was as good
as any other piece and the money i'm the
country would support the credit which
IL represented, would remove the crops,
and we would have what we had not
had recently, the blessings and encour-
agement Of a good stable currency that
would increase the prosperity of the
nation and give employment to it's labor.
(Applause)
The house then took a recess until s
o'clock
The Evening Session.
At the evening session Tracy of New
York. Stone of Kentucky. Boutelle of
Maine. Mr. Fellows of New York and
Mr. Hendricks of New York spoke for
repeal. while Mr.. Fithian of Illinois and
Mr.. Hudson of Kansas spoke against it.
At 11:O5 the house adjourned until
Monday at u o'clock, when the first
vote will be taken.