The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-26
But Above All He Seems to
Dislike the President.
He DECLARES INDEPENDENCE.
Says Mr.. Cleveland Is Traitor and
Backed by the Republicans.
senate adJourns TIN Monday. when II
VIII Vote again On Lee Mansae-Lass
Day Of silver Debate In House To-
day. Vote Monday.

WAsHEssros CIrY. Aug. 25-The chief
interest IN the senate today centered in the
speech of Senator Hui, who defined his
position on the financial question in an
address Of nearly two hoars' duration.
Nearly every member Of the senate as in
his seat and an attentive listener. and
many members of the house crowded over
20 hear the distinguished senator. Al am
q Democrat" which has now become pro-
verbal. vas recalled today by his forcib.e
declaration on the financial question.
when. as usual, he epiiomized his silver
views in q single sentence: Il am n BIZ
metallist." Said he: II do not belle se In
single gold standard or single silver
standard, but l do believe in the use Of
both gold aud SILVER as the standard
money of the country and in their free
coinage in our mints at the proper ratio
aud without discrimination in favor of one
or against the other"
The chief surprise of the speech of Sem
ator Hill was the position he assumed
minimizing the Importance of revision of
the coinage ratio, and his suggestion that
international b!-meialiism might be sought
by holding out an inducement to the
Latin Union countries to reeoin nc profit
rather than at loss. gave greater satisfac-
ton TO the Western free coinage people
than even the most sanguine had expected
from his argument.
There was a dead stiffness in the senate
when the speaker referred to the state
ment that President Cleveland was at
tempting to lead the country to mono-
metallism, and made his comment
Ind x.rffk 1.E~
presidential domination. II shall refuse, -
said he, TO follow IN the footsteps of any
administration that seeks to place the
Democratic party in a false position; that
seeks to lend it away from Democratic
principles and platforms and into the very
camp of the enemy. The president must
rely upon Republican votes to carry out
any such suicidal policy.
The Democratic senatort looked gloomy
and unhappy, but q smiifcoi amused sat
isfaction covered the faces OF the Reprb-
iicans.
Senator Hill said there we're those who
do not wholly agree with the president in
his diagnosis Of the maiady now affecting
the body polite and who did not hastily
join with him in the rosy conclusion that
the financial millennium is TO come the
moment the Sherman law il removed,
There were some who had&iven the cub
iect attention who believed the cause OF
the present depression was deeper and
beyond the Sherman bill: that its founda-
tons were laid in the evil hours of 1873,
when the country unwittingiy laid aside
the financial policy that had been its
guide since the foundation of the govern
ment. The existing financial disturbance
was attributable TO three distinct causes:
First-It was the natural inevitable re-
suit OF many years of real or fictitious
prosperity.
Second-some portion Of the present
panic could be traced to a concerted effort
on the part OF mono o-metaIlists TO produce
it in order 10 discredit silver.
Third-But no matter what else may
have contributed TO the present financial
condition, u would not be denied tina. the
silver purchase Law had been. at least in
part and possibly most largely. instru-
mental in producing the existing compii-
cations.
The Sherman act kad not been executed
according to its spirit. Ifit had been /.
might have done good; IL certainly would
not have done the harm that has been done
under il. There had been an issue of $40
10000 of legal tender notes which had
done much 10 sustain the business of the
country and without which the panic
would have happened long before.
Hill did not believe the simple repeal OF
the Sherman law would at once restore
abundant prosperity. but that many years
will he required 10 recover from the
present disturbance. He compared his
own course in declaring for repeat with
the presidents course in failing to refer to
il until this late day. He was a BIZ
metallsst and stood for free coinage at
proper ratio. Had the Sherman Law been
repealed at the last session or in the
special session on March S the United
States would have escaped the present
panic and precluded the closure of the
Indian mints. Independent free BIZ
metallic coinage in the United States Is not
consistent with the coansels of monetary
science. While the repeal would not bring
parity. ID would facilitate bringing that
new-fsngled monetary theory, gold mono
metaIlism. begoiten in the embraces of
ignorance with Eapacity, at last TO an
unequivocai crucial test. The permanent
remedy for our financial difficulty was II
return TO bi-metailism that existed nrIor
to Is7aA Hill favored an increase of
national hank circulation as proposed in
the pending bill. Continuing. he said he
regarded the question Of ratio as not
timely and as Of least Consequence, but if
changed at all il should not be enlarged.
bnt diminished TO I5a. the Latin Union
ratio.
He should refuse 20 follow in the foot
steps OF any administration that sourht to
place the Democratic party in false posi-
ton and lead it into the very camp OF the
enemy. The president must RELY upon
Republican votes TO carry out any such
suicidal poliey. He would not believe
however, than any such course world Re
taken By the president By his own voli-
ton. or even under The inspiration Of in
discreet advisers. until clearer evidence
should be furnished than now exists. He
deprecated hasty action ia the formation
OF q definite financial pan and predicted
the failare OF the attempt TO impose q
gold standard on India. Senator Hill then
said
The temporary relief which the eoun-
try needs at this hour IS prompt repeal "
the sherman law. We can discuss oar
monetary theories afterwards. Oar duty
now Is 10 stop further silver purchases
and relieve the almost bankrupt treasury
from the drain OF gold oaG 81 is vaaiis.
Let us iegsslate upon the financial qaes-
sson and then reEarn 20 our homes A. THE
regular session nexs December ws can re-
sngne consideration oT she establishment
Of the permanent financial svstsm re-
lusresi br the necessities Of cur great sa1
growing country. TAs goal for which tha
country sise9ld ssea1Ay strive is. frst
international bs-1letsltlsu agreement gisa
f~~r E-sv2 ~szt "a AZ