The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1893-09-20

something similar to it, and the silver
senators, on the principle that half a
loaf is better than no bread, will again
accept compromise which, though it
does not give them free coinage, still
leaves them practically the victors in
the contest. 1t is also intimated that a
compromise measure on the Faulkner
plan would receive the presidents APP
proval. This would indeed be an in
glorious ending of the great democratic
campaign of repeal, but lack of glory
has oftentimes accompanied democratic
spasms of reform.
A noteworthy incident of the week is
a four.hours' speech on Thursday by
the Old Dominion orator, Senator Dan
iel. The senator's flowery periods
were spoken in behalf of the free coin
age of silver. His speech, containing
much of horid oratory, was conspicuous
for its lack of the hard sense which is
the pre-eminent demand of the subject
and the times.
The speech of the week, the only one
that has added to the stock of informa-
ton on the question, or that has pre-
scented views and considerations that
are worthy of serious attention, is that
of Senator Allison of Iowa. Mr.. ALI
son, himself a man of so great ability
that he has been twice prominent
candidate for the presidency, was a
member of the recent monetary con-
ference at Brussels, and is thorough
student of all the phases of American
and European financial history. No
one is better fitted to discuss the press
ing problem of how to deal with sill
yer under existing conditions. So Mr..
Allison naturally spoke with high au-
thority, and his speech was listened to
with profound attention and has been
read with general interest-a compli-
ment paid to very few of the speak
ers in this long drawn-out debate.
Senator Allison's firm conviction is,
that the continued purchase of silver
under existing circumstances must lead
inevitably to the establishing of the
single silver standard in this country.
The law of 1890, he says, was tempo
rary law, and, in one sense, an expert
mental law. Nobody believed at the
time it was passed that it would re-
main long upon the statute books. He
does not believe in the continued coin
age of silver, at any ratio, by the
United States. The senator had re-
ported the bill in the last congress for
the repeal of the law of 1890. His judy
ment was that if the law had been then
repealed, England would have never
demonetized silver in India. In his
opinion, silver will ultimately be re-
monetized by the passage of this bill.
If the United States ceases to purchase
silver, it will be impossible, in the SEN
ator's opinion, for England to carry out
her financial policy in India. That
policy will become an utter failure.
The senator was as sure of that as he
was of his existence. To say that all
the great interests of England can be
carried on by gold alone as a standard
money is, in his judgment, to state an
impossibility. elf this government, ="
said the senator, will undertake the
policy of an international agreement
between silver and gold, l believe that
that policy will be accomplished, and
that within brief period we will be
able to restore the parity between the
metals and practically to rehabilitate
silver" This was Mr. Allson's firm
belief, and, in his opinion, the solution
of this question; but, in order to bring
about this solution, this government
must first suspend the purchase and
coinage of silver and thus compel Eng
land and other European nations to
enter into an international agreement
for the use and coinage of silver. Z" II
it be known" he said, Gin England
l
and other nations to-day, tomorrow, OF
next day, that we do not intend alone
to deal with this silver question, they
will deal with it in agreement and &C.
cordance with us. So believing, am
in favor of this BILL" The senator stated
that there are men in Europe of the
highest character, men who read every
speech made in congress, and who
gather their opinions from our public
documents, who believe that sooner oil
later the government of the United
States will go to free coinage and
thus relieve them from their situation
and relieve US of our gold as well
When they are disabused of this i'm
preston, as they will be by the uncon
ditional repeal of the act of 1890, they
will begin to consider seriously some
plan for restoring silver to its rightfu