The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-09-07

to print promise to pay and put the
government stamp upon it. We will
thus be serving the government faith
fully and will equally well serve the
business men, toilers, and all classes of
our people.
The establishment of state banks
with paper currency is different in aud
peculiar to every state, and current
nowhere except in the neigbborhood
of its issue and at a discount every.
where. What wonder, when the coun-
try has realized what has been done in
securing this change of policy, that
distrust, hesitation, want of confidence
has seized upon the people, which re-
suited in almost 'compl tie paralysis
of business and hiding away of the cir
culating medium of the country and
finally in the present calling of con-
gress together.
We will repeal the act of 1890 be-
cause it is not wise to continue in force
a statute providing for the purchase of
4,500, 900 ounces of silver per month
and issuing paper which the govern
ment is bound to protect. | hope its
repeal will be of service in removing
the paralysis now upon busiI ess, but
we will not soon have good times and
good wages again if all the pledges
made by the party now in power are
redeemed il good faith. The plat
forms of the two parties on the money
question are not very unlike in either
language or meaning and prominent
feature of each is that every dollar,
whether paper or coin, issued by the
government should be as good as any
other and at all times equal. Each
recognize the Importance of securing
an international conference to adopt
measures to insure parity between
the two metals. The special cham
pions of the silver purchase act say the
act must not be repealed because it
would be the end of silver as d money
metal in this country. OF what status
is the law now2 The silver mines are
closed, smelters reported shut down,
while the silver purchasing act still re-
mains in force.
Senator Coke (rex) obtained the
floor at the conclusion of Senator Gull
lom's remarks. He said; The money
problem can only be settled by the es-
tablishment of bimetallic currencyas
it existed prior to 1878. The people
will never be content until the wrong
of 1878 by which half of the money of
the country was stamped out in order
to double the purchasing power of the
other half has been undone and re-
versed. If the single gold standard is
established in America then the Roths-
childs aud the Bank of England with
their New York associates will be the
arbiters of American finance and die
tators of our financial policies, because
fhnx In Il xuI iaI1 nj I'd
States would have to have. The
abandonment OF silver by the United
States will be its death knell as money
except in subordinate ways, and for
subsidiary coinage the United States
senate is the only barrier between the
people and spoilation.
The senate went into executive ses
sion to consider the names of certain
officers whose confirmation Berry
(Dem Ark. said was essential to carry
into effect the presidents proclamation
opening the Cherokee strip on the 10th
of September.
At $3.50 the senate resumed its legis-
lative session, and PETERS amendment
to repeal and providing for free coin
pge, being the pending question, was
read preparatory to Peffers addressing
the senate.
Senator Jones (Nev moved that the
senate adjourn. Rejected, yeas 10;
nays 81.
Senator PETER said the administra-
tion was Lot proposing to discuss the
philosophy of finances. They came to
congress with a demand for a particu-
lar act, the repeal of the Sherman law.
They suggested no policy which will
admit of the usual compromises in
legislation proceedings. This or moth
ing, and that 81 far concerned the peo-
pie he represented that they accepted
the move in the spirit in which given.
They proposed to give no quarter.
His proposition proposed to give none. |
He said most of the Southern farmers
are members of the Farmers Alliance |
and one of the cardinal doctrines or |
the Alliance is free and unlimited coin |
age of silver at the old ratio. Senatof |
PETER read letters from Senator Cor |
don now in favor of repeal written to |
the Alliance expressing sympathy with |
them and approval of their doctrine. |
Coming to 1899 he said North and South |
Carolina, Georgia, Alabama, Mississip- |
pi, Louisiana and Texas all would |
have voted for the Populist candidates |
for the presidency and vice presidency
had it not been for promises made by |
the leaders Of the Democratic party |
that while Cleveland was personally |
opposed TO silver he would approve a
free coinage measure when presented |
to him by Democratic congress as it /
would be. 1t was time the partner.
ship existing between the government !
of the United States and spectators
in Wall street was dissolved. 1.-The /
leaders of the Democratic party are
pursuing precisely the same course the
leaders of the Republican party did,
and senators, you are on the breakers"
There is bright, young, vigorous
party upon the map of politics which
is ready to stike hands with men
of all parties TO make the fight |
for silver. Members of that party
cared not whether it was called Popu-
list or National or what it was called.
but there was coming union OF hearts
and hands upon both sides of this
great question, and that iu the very
near future. In lecture he delivered |
in Washington before he took his SEN
atorial office he had predicted that
both the great parties would soon be
under the leadership of Grover Cleve.