The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-13
REVIEW OF THE WEEK.
rHx DEBATE NsrLvEB GOES TEDI-
oUsLY on I'm coxGHEss.
The Minds OF tho Members Have Already
Been Made Up-Unconditionai Repeal
Will Not Be Accomplished.
TINS BusKAU, RArLrr BUrLpISo,
WASHINGTON August IL. 1893.

| fact, as the almost intolerable heat has
driven many OF them to the seashore
and mountain resorts.
| The debate on silver goes tediously on.
| vSth not one-third Of the members in
| the hall. The arguments TO be made in
| the next two weeks will hardly have
the effect Of changing the opinions of
a single member. as their minds are very
generally made up now. but the reason
OF the long debate Is principally to allow
the different members an opportunity
to go on record and TO explain publicly
to their constituents their reasons for
the positions maintained. This is par
ticularly the case with those members
whose constituents are devoted TO free
coinage and who are standing with the
administration on the unconditional re-
peal OF the Sherman law.
IL Is now the firm conviction OF a great
many Of the best Informed congressman
and correspondents that the uncondi-
tiOnal repeal OF the purchasing clause
OF the Sherman law can never be ac-
complished In the Senate, even II IL
should be done by the House. and the
general consensus Of opinion Is that
when the twenty-to-one ratio IS voted
upon that the end will be reached
The list OF those who desire TO speak
upon the question, both pro and con.
IS being made UP. Congressman Swan
son is booked for his maiden speech next
week, and IT is probable that Messrs.
Jones and Marshall and possibly others
OF the Virginia delegation, will give their
Views before the debate closes. There
are comparatively few men who will be
able to control the attention of the House
L.
than likely that many Of the speeches
will be submitted to the Record without
being delivered on the floor.
The views OF the various members OF
the House are very nearly fixed now
upon these questions, and In reality the
votes could commence to-day with about
the same results as will be shown when
the time has elapsed for discussion.
Hon. C. A. Swanson, being asked II
he had any objection 10 stating his views
upon the financial question, said that he
did not; that he had no concealments 10
make and thought the public were en-
titled to know his views and convictions.
He said that the convention which
nominated him at Martinsvlle instructed
him for the free and unlimited coinage
Of silver; that he pledged the people
IL elected he would vote for the free and
unlimited coinage Of silver; that he con-
sidered these instructions and pledges
binding upon him; that he thought
pledges and party platforms should con-
troll representatives when made; that
he thinks the Democratic party should
execute and enact into law the provisions
OF the Chicago platform.
He said upon the silver question the
Chicago platform makes three declara-
tions. First. the repeal Of the Sherman
law; second, the free and unlimited
coinage OF both gold and silver. without
discrimination, and third, its coinage at
such ratio as the parity OF the gold and
silver money carried could be maintain
ed.
That ne thought each one Of these
three provisions equally binding upon
the party. That those who advocated
free coinage at ratio where the parity
OF the two metals could not be main
tanned were wrong, as were those who
favored putting US entirely on a gold
basis. That he recognized for free and
unlimited coinage OF silver 10 be a sue
cess that the bullion value OF the dollar
must be equal 10 it's mint value. That
there is no question but that there is
some ratio where the United States can
afford TO have free coinage end maintain
the parity. That II is our duty to deter
mine this, and have free coinage.
Some believed, he said. that this parity
could be maintained at the ratio Of
sixteen TO one, and others have gone as
far as twenty-five TO one. There can be
no question but that there is a ratio
where perfect safety exists, and IL Is our
duty TO determine this and carry out our
promises. He said he would favor
compromise in which he would yield
some IN the ratio that he favored.
The miners and owners Of silver bull
lion. he said, are those most Interested
I'm the ratio The people are more inter-
ested In the use OF silver as money and
as a safe way OF expanding the currency
than in what fits owners shall receive for
It per ounce. It Is difficult TO get some
people to understand the difference OF
interest between the miners OF silver |
who have II TO sell, and the people, who |
use and accept ii as money. The legls-
lation upon the question should be Ia |
the interest OF the latter, and not the |
former. He thought the passage or n |
measure authorizing the free coinage or |
silver at such a ratio as could sustain |
the parity would bring immediate relief, |
and give Us safe, stable and gradual |
expansion Of the currency.
When questioned as 10 his Views upon |
the repeal Of the ten per cent. tax upon |
State bank issues, Mr.. Swanson said he
favored this. and would do all he could |
this would bring as much rellef as any
other measure. II would give us local |
currency 20 do our local business, without |
lessening at all our national currency.
II would enable communities In tunes
like these TO utilize their resources ana
credit TO prevent stringency ana nnan-
cial distress. This currency can ana
should be made as safe and good as
any. That this IS true and that such
currency would give immediate relief
and produce an expansion OF the cur
rency is exempllfed by the issuance OF
clearinghouse certificates by the banks
OF New York, which prevented panic
there. These were nothing more than
State money issue That the repeal be-
ing in the platform. II should be enacted.
That this does not necessarily create
State banks OF issue, but leaves the mat
ter entirely with the people OF the several
States That the proper place for DEM
ocrats who oppose the issuance or money
by the State banks TO light Is In the
LEGISLATURES when the proposals are
made. and not En- Congress. We are
pledged TO give the people an opportunity
TO do this in any State where they are
so disposed
The week has shown no decided turn
I'm the affairs OF the situation In state
politics. e>cept the single development
OF the idea which is strongly entertained
by many OF the anti-OFerrall men that
a silver plank will be offered in the con-
yention, which will be so strong that
Colonel O'Fcrrall could not stand upon