The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-08-16
THE DEBATE.
Vigorous Arguments for and Against
Free Coinage.

Mr.. Rayner Of Maryland. a democrat.
was the first speaker, and he was an i'm
passioned one. He was, he said, in ia
ver of the unqualified repeal Of the pur-
chasing clause of the Sherman law with
out any condition or proviso whatsoever.
He was not in favor Of purchasing an
other ounce Of silver or the coinage OF
II at the present ratio or any other ratio.
he desired TO say that he had no hostil-
ity whatever to the use of silver on a
proper basis as a circulating medium:
but, after earnest consideration, he was
convinced beyond all doubt and ques-
ton that its recognition a circulating
medium without international agreement
was a financial undertaking utterly i'm
possible of accomplishment, except at
the risk Of ruin and disaster. In his
opinion the present ratio was unjust and
arbitrary. 1t lay not in the power of
this government to purchase the silver
product of the mines. to impress upon IL
fictitious value and by legislative de-
cree compel the people to take 1t at
price in utter disproportion TO the price
which ii commanded in every CONNER
cial center of the world. The treasury
department was acting as a pawnbroker
for the silver miners. This system OF
finance. built up by political tricks and
maneuvers, must be swept from the
statute book. Every dollar of the
tons coin must be a dollar everywhere
and in every commonwealth. He wanted
the law repealed because il stood with
out an example or parallel The law
had brought about distress and suffer-
ing and stagnation. which called in the
lOudest tones for its repeal He wanted
1t repealed because it protected owners
Of mines to the ruin Of the farmer and
the disaster of the people. Let not the
United States stamp a lie upon its coin
in order TO crafty the greed or avarice
Of any section of the country.
Mr.. Brown for Repeal.
Mr.. Jason Brown Qnd). who followed
Mr.. Rayner, expressed himself as in ia
vor of the free coinage of silver. but. in
view of the havoc to business brought
about by the Sherman law and In view
Of the declarations of the democratic
platform at Chicago, he would vote for
the repeal Of the Sherman law in any
event, conditions or no conditions. He
would not assume that the president was
opposed to the coinage of silver money.
He knew no one but the president him
self who was ready to express the opin-
ion Of the president on this subject. II
he ventUred an opinion at all as TO
what the presidents views were, IT would
be that the president was in favor Of the
| coinage of both gold and silver without
discriminating against either metal. and
that the president would redeem every
pledge and promise he had made in ac-
cepting the democratic nomination.
Mr.. Bland Grows Vehement.
Mr.. Bland, the great silver advocate.
was then recognized by the speaker
| He expressed his regret that a number
| of gentlemen had changed their opinion
| on the silver question. The gentleman
who had just taken his seat, Mr.. Brown.
had been regarded as one Of the most
ardent and able advocates of binetal-
! lism. He had retreated from part OF
| the Chicago platform, from that part Of
| all others that had contributed to give
| him seat in the house. He had turned
| his face toward the East and his back
| toward the West The Sherman law
| was the only law on the statute books
| that looked TO the use Of silver as A
money Of the country. He knew at the
| time of its passage that the element that
was striving to secure its passage was
| the element opposed to free coinage.
/ He knew at the time that that element
would demand its repeal at the first
moment II saw its opportunity. The
| repeal of the Sherman law had been a
part Of the Chicago platform. Another
| part had been a declaration for the uso
/ of both gold and silver s the money
Of the country. Speaking for the people
| he represented. he understood that The
| free coinage of silver in accordance with
| the platform necessarily repealed the
| Sherman law. The two laws could not
| exist together. They were inconsistent.
Mr.. Bland then reviewed recent silver
| and financial legislation, and contended
| that it was an apprehension that the
| United States would repeal the Sherman
| law that induced the British govern
| ment to recommend to the government
| of India the suspension Of silver coinage.
| Why was there being rushed in. now,
| he asked, a proposition 10 repeal the
/ only law which sustained, for the mo-
| ment, at least, the value Of silver? Mr..
Bland appealed TO members to stand by
| bimetallism and not TO obey the COM
| mands of the Shylocks. France. he went
| on to say, had offered e medium of ex-
| change for all the world during seventy
| years at ratio of 15l2 of silver to one
| OF gold. At that ratio France had been
| able to maintain the parity of the two
| metals all over the world. That was A
proof that the government Of the United
| States could do so, at the ratio Of Is to
l. If Europe refused to accept that
ratio, the effect would be to divert from
| Europe all the trade of every silver pro-
| ducing country in the world.
| Could England. he asked, Withstand
| this withdrawal of trade? Certainly not.
1t was bi1metallism that made the
manufacturers OF England so strong
| and prosperous. Western Europe would
| have to come to the American standard
| or abandon its commerce with the Uni
| ted States and with all civilized coun-
| tries. The United States was the best
| market in the world for the manufact-
| ket Europe could not have unless IL
| recognized and accepted silver at the
| same value as the United States did.
| The monometallists of Europe knew that
| if this country went into the free coin
| age of gold and silver at a fair ratio.
| il would settle the question for the
| world and hence their interest and de-
| termination to prevent ii. 1t was not
| only a serious question for the United
| States but the oppressed people of the
| old world appealed to this country TO
| settle the question for them and for
| the whole world. The money require
ments Of the United States with the
vast wealth, industry and energy of its
| people were equal to those of England.
| France and Germany combined; and
| the whole civilized world would have
| to look TO this country for its future
! monetary supply. And yet said he
! with vehemence, I'VE are asked here
today to lay the bloody hand of confis-
| cation on millions Of our population in
order to satisfy the greed Of England
| VIII congress do re. VIII you trample
! down the interests of your own people
| and destroy the value of one of the
| precious metals, simply to crafty the
| greed of Wall-st.-a mere agent or
| Lombard-st? 1t cannot, it shall not
| be done CApplause.) Speaking for the
| masss of the people of the Mississippi
| valley and Of the people west Of il. I
| say YOU shall not do it. Renewed ap-
| plause) And anybody, or any party
| that undertakes TO do il will, in Gods
| name he trampled-as il ought to be-