Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-25
TOPICS OF THE DAY.
s1EyESsows VIEWS NOT KNOWN.
vropo,itlon to Repeal the sherman
Law and Buy Three Hundred NIL.
lion Ounces Of silver.

wAsIfiEGroS, Aug, 25.-The second
day Of the i've minute debate In the
House on the silver bill began this
morning and will probably last wi
midnight Pendleton, Tex and
Bowers, Cal, spoke in favor " free
colnsge.
Duckery, NO., and Moon, Mich'i
sp0ke for bimetalllsm. Cobb, Ala''
opposed unconditional repeal.
burrows, Mich, advocated repeal
and opposed free coinage. lie laid tue
blame Tor the present financial distress
Al the door OF the Dumoofatio party
saving the financial distrust was the
gpsult OF the fears OF manufacturer
2 aerding tariff legislation. lie CON
,,ted the condition Of the country ~
siown In President Hafrison'e last
furssago and In President Clevoinnd's
message 20 the extra session.
Mtreh, Of Illinois, opposed the Will
son bill and favored free coinage.
Compton, OF Maryland, spoke for
unconditional repeal.
Money, OF Mississippi, was against
repeal. -,
DurborTow, Illinois, favored repeal.
He WAS followed by Springer.
sPRISoER's SPEECH.
Springer began with a review Of
financial conditions, and set forth the
dutiss which lay on Congress 10 apply
a remedy. He declared tbs three
leading controlling causes Of tho PREF
ent conditions tho tATih legislation
since the war, the demonelization VI
silver In 1873 anu silver purchases I'M
dor the authority Of this sherman act.
Treasury rulings in regard TO silver
certificates issued for silver bullion
purchased made this rudeemable IN
gold, as this was the only way In
which the government could make
good Its pledge to maintain the parity
u gol1 and silver. In fact the
silver bullion held M collateral
.or the redemption OF silver cef-
tifcatos added nothing TO their face
value. That value depended ON tue
pledge of the maintenance Of the
parity with gold aud the fact that tho
certificates were full legal tender.
The decentralization 0f silver In 1873
did not destroy silver a. much a. tho
Sherman act. In sixteen years from
It's passage silver deprecated 20 40
pUr cent. In thrso years since the
passage Of the Sherman act, II had
fall,n 20 per cent
The speaker continued stating that
the President had called Congress ih
extra session for the sole purpose of
repeating the purchasing olsuse Of the
Sherman act. Would Congress refuse
10 comply with this universal demand
till m agreement had been made 10 do
something on some other mattei? II
was lust as reasonable 10 demand that
the tariff bill be- Included In the bill for
tho repeal OF the Sherman act, W. thr
reconciliation Of silver. The temone-
tization OF silver In this country ut n
ratio OF 10 to would either bring the
nation down to n gold standard or ad-
vance the price OF silver bullion 10 IA.
coinage value OF this silver dollar II
tho former, II would result In a Imam
cial crisis, compared with which the
present depression would be- as the
zephyr - a cyclone. Hundreds Of
millions OF foreign capital Invested Ia
this country would be Withdrawn,
our credit destroyed anu We SINK
10 the condition Of Mexico, india,
China; we would DO thrown out Of
harmony with the great commercial
powers which buy nearly eight hun
dted million dollars' worth OF our
products. There Ia no ground TOR the
declaration that unless free coinage IL
Incorporated In this measure, silver
will be deserted alike by Congress and
the President. The Presidents record
Is not such M to Justify the belief that
he will prove false 10 his pledges. The
speaker believed the President and
Senate alike would Join In keeping the
pledges to the people to adopt such
MEASURE as will Justify the expectR-
lions Of the American people.
slcklos, New York, spoke for un.
conditional repeal.
The rules OF the House were re-
ported by Catchings, aud without be-
Ing read they were ordered prluted.