Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-09-05
TUESDAY. =. SEPTEMBER 5, 1893
Mr.. Shcrman's speech.

Nobody need attempt 10 DehtUe Mr.
SHERMAN as fnancier, though he is a
South.hater with whom the people Of
this section have no desire TO train. lie
spoke for several hours in the United
States Senate few days ago, saying, OF
course, somc things which were not
pleasing t. his Democratic hearers, but
devoting his time and attention princi-
pally to the financial problem.
We rocollect, and have had occasion
20 state the fact heretofore, that Mr..
SHERMAN offered in the Senate years ago
an amendment TO n bill then pending,
which. if II had become a law, would
have required the coinage Of silver dol
lars containing each a dollars worth of
silver bullion. 1t appears also from his
last speech that long before the Demo
Gratis had taken their present position,
lie had proposed as a measure of relief II
I'LL almost III the same words as those
contained in ur VOORHEES, relief bill
now pending in the Senate
Mr.. SHENaAS said that If the only
object Of the President in converting
Congress in extra session was the repeal
Of that clause Of the SHERMAN silver law
which provides for the purchase every
month OF four aud one-half millions of
dollars worth Of silver. he would con-
slider that reason insufficient He said
that though be would vote for the repeal
bill he would still stand by the SHEa-
MAN silver law. not as a measure Of good
public policy, but because without it we
should have met difficulties in 1891 an1
1892 which would have staggered us
much more than the passing breeze of
The hour. Senator VANCE says that the
existing pane Is "a rich mans panic. "
Mr.. SHERMAN says it is "the passing
breeze OF the hour" BY the way, Sen
ator VANCE sud on Friday that this
panic would be over in very short
Zine.
Mr.. SHERMAN defended ERNEST SEYD
from the charge that in 1873 he en-
ployed a largo sum of money in securing
votes in Congress in favor OF the demon
citation Of silver. Mr.. SHERMAN sought
to show that this charge was unfoundei,
MIR. SEYD being himself a 5lmetallist. A
strange history is that of the demoneti-
cation of silver in 1898. The arguments
10 sustain the contention that it was sur
,Ieptitiously demonetized are about as
strong as the arguments on the other
side. 1t would seem that the true state
/. of the case was that the members Of Con-
gress in 1873 had an opportunity to
know that the demonetizing bill was
under consideration, but that their
Thoughts were so far away from the sub
sect that they never even gave it mo-
ment's consideration. The guilty par
ties conducted their proceedings with SO
much caution, coupled with apparent
candor, that The bimetallists were thrown
entirely off their guard. In fact, the
history is "all q muddle." A good case
can be made out on either side, as all
must concede. Certainly several OF the
most distinguished Republicans who
were members of Congress in 1873 testi-
fed afterwards that they did not know
when the demonetizing bill was passed
In the House of Representatives.
Mr.. SHERMAN declared emphatically
that the people are bimetallists and
will never consent to demonetize either
silver or gold. This declaration will not
prevent the world from knowing that
Mr.. SIBERIAN is a deadly enemy OF
The white metal. The logic Of the stu
alton is that he who is not in favor OF
the free coinage of silver is gold mono.
metallist. Mr.. CLEVELAND has inter-
preted tho silver plank of the Chicago
platform to mean ''no free coinage OF
silver" and, so Mr.. VANCE thinks. has
in some way converted many sometime
free silverites to his way G thinking on
chat subject We are inclined to the
opinion that Mr.. CLEVELAND is. 50 to
bpeak, and as We have heretofore said,
'mascot," and that the closing of the
minis of India to the free coinage Of
silver on private account came Just in
time TO render it possible for him TO in-
nuoe Congress to desert the cause OF
the white metal. When banks were
topping and depOSitors making haste to
withdraw their money from them, the
President wisely convened Congress in
extra session.
Mr.. SHERMAN says that for the first
time in many years the balance OF trade
has turned against the United States.
IN England they seem TO care naught
Tor this matter Of the balance Of trade.
We recently published a communication
from an Lnghshman claiming that the
balance Of trade had beon against Eng
aud for many years.
Mr. SHERMAN repeated that though
be would vote for the repeal bill he
would not expect it 10 relieve the coun-
Try IN any considerable degree from the
btagnation which has fallen on all kinds
VI industries
M SHERMAN made q passing remark
IN favor Of the reassembling OF the Brus-
seis conference. This conference can
not be reeonyened too soon.
On the whole Mr. SHEEMAS's speech is
hyalusble contribution to the discussion
Of the silver problem.
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We do not understand what The snn-