The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-09-15

WASHINGTON, Sept. 1.-THE great
event Of to.day's session of the Senate
was the delivery Of speech by Daniel
against the passage of the repeal bill
1t occupied four hours and FIVE minutes
and was listened to with an interest
which did not seem to divert from
exordium or peroration. Neither Senator
desired to speak after Mr.. Daniel.
At the opening OF the session Faux.
ner offered an amendment to the repeal
act which was read and ordered printed.
1t provides for the free coinage of
silver dollars mot less than 5000, 900 a
out OF the silver bullion purchased
under the Sherman act to be a legal
tender. Also for the monthly purchase
OF sufficient bullion for the coinage OF
100000 month in quarters, halves
and dollars; further purchase and coin.
age to cease when the aggregate OF
$500, 900, 900 Is reached.
The Senate, at 1890, resumed consid-
Grafton Of the repeal bill and Daniel,
(Va.) began his argument. He brought
to the discussion OF the subject, he said,
profound sympathy with every class of
his fellow citizens who had been smitten
with an evil financial dispensa,ion He
had no denunciation to make Of banks
or bankers, troubled as they were with
CONSTRUCTED and contracted currency.
He sympathized also with merchants
and manufacturers and deeply with
labor, which was standing idle begging
work,and with hunger which was empty
begging bread. He brought TO the task,
however, the comforting thought that
the acute stage of the panic was now
over and that although a depressed con.
di.ion might long remain, business was
already in state of convalescence.
He quoted from bankers review to
show that 1t was an acknowledged fact
that three distinct causes of the return
of gold to the United States had been
we'll identified. The first cause had
ton OF goods from abroad; the second
was the enormous expectation of wheat,
flour, beef, corn, oats and barley which
had been taken in quantities hitherto
unknown by England and the continent,
and the third was the collapse of the
corner in provisions in Chicago.
Since 1873, he said, the foundation of
credit had been narrowing, while the
superstructure had been charging in
width and growing higher. 1t had been
long evident to him that great crash
would come, and now that it had come
it WAS equally evident that there was
causations for it. Among which he in
cluded the boom in real estate and the
Mckinley tariff act
In Great Britain gold. he said, unpro-
tected from going TO premium by the
silver standard, had commanded a pre-
MUM OF three per cent. day for it's
loan and In addition thirteen per cent.
per annum, and the castles of the Brit
ish money princes were likely to fall
and crum BILE and perish. The panic had
swept on to Australia where the people
are the richest people in the world per
capita, where there was no Sherman
law. The single gold standard there
had offered no provision against the
much-to be-dreaded premium on gold.
The panic had got to Austria, Italy and
India and was now going all over Europe
without the dreaded presence OF the
Sherman law.
here were some, he continued, who
cried "Stone him, stone him." as to the
Sherman law These people were not en-
tlreiy disinterested. His friends. the
enemy, (the Republican partly were
delighted to attribute the panic to the
sherman law in order to escape the ro-
sponsibility of the tariff. The McKinley
bill sought the sheltering arms of the
Sherman law. The gold monometallists
were delighted to hide behind the work
of their own hands. The bankers were
interested in seeing the Sherman law
repealed so that new bonds might be
issued on which they could base cur
rency. He quoted from speech OF his
in the Senate three years ago, predict.
inn r11o 4
Sherman law, which was then pending
and which he now challenged as 1.-The
i'll concocted measure Of time server"
The Senator from Ohio had appealed
to the Senate few weeks ago to give
the devil his dues" He should be glad
to do it as we'll az it could be done In
this world OF abbreviated equities and
small opportunities.
He was often asked by his friends in
Virginia and in the Senate cham Der why
he opposed the repeal of the Sherman
law now after having opposed it's pass
ago in 1890. His answer was this: Was
there man who, having a patched
coat, would throw it away in the dead
OF winter before he had got new one?
Was there man riding a spawned
horse who would cut his horses throat
because he had not an Arabian steed to
iiuo' vas IHere PEASANT living In q
thatchtd cottage through which the
winds blew and the rains descended who
would burn it down in the
midst of the winter storms because
there was CLEAN OF brightness in the
sky. He was not in favor OF the repeal
bill; neither was he in favor of going
hatless, coatless, barefooted and naked
out into the winter storm.
Did the supporters OF the repeal bill
The asked) propose to restore the condi-
tons existing at the time OF its passage?