Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-08-28
safety. One OF the parJy-s prouuesJ poasus
was its steady support of sound finance
BouRke COCHRAN GETS THEFLooR.
A Notable Speech Which Is Against
Double Standard"

Double Standard"
There were several speeches followed
Reeds before Cochran took the floor, but
they were not especially notable. In the
beginning of his speech Cochran said he
could not agree with Reed that panics
were inevitable. He believed that the
causes of them could be ascertained and
measures to prevent them be successfully
taken. He also said something as TO which
faction of the party stood on the Demo
cratic platform, and called attention to
the fact that the national convention had re-
fused by great majority to insert the word
free" tefore coinage" in the financial
plank. The advocates of that policy in
the convention had come from states
which in the national election had gone
Populist
The Democratic platform declared for
The use" of silver. As to "bmetallism"
and double standard" they never had
existed in the sense argued for, and he
quoted from Locke and Mills to show that
both gold and silver cannot be at the same
time the measure of value in the same
country. Both metals fiuctuated and the
silver men wanted as standard the metal
that showed the maximum of fiucJnation.
tempted to cheaper" the gold coin and
failed, the people refused to have it, and
never. until now had such a proposition
been made in the name of popular rights.
The gentleman from Nebraska (Bryan)
had said that we could not have an honest
dollar and that there was no such thing
IL a perfectly stable measure or vaIGs
He might as well have said that there
was nothing perfect on this earth. The
gentleman from Nebraska had told the
house that the free coinage OF silver was
for the interest of the laborer He Cock
ram said that the banker. the railroad
president. the Insurance company, the
great corporation, vas not a creditor, but
debtor. The man who was and must be
always creditor while the world lasted
and while economic conditions remained
the same-the man who by the nature OF
his situation and the character of social
organization was and always must be
creditor-was the laborer.
He was told that gold had appreciated in
value If it had appreciated in value as
measured 10y corn. wheat or pork, it had
not appreciated in value as measured by
wages He held in his hand the Aldrich
report. which came to him with the ap-
proval OF the distinguished secretary of
the treasury and from a Democratic bu-
| reau of statistics. The accuracy of its
figures hal never been impugned. and it
showed that never in the history of human
civilization had wages been so high, meas
ured by gold, [Applausel Now, if gold
appreciated, what did it mean 1t meant
| that there was another rise in the laborer's
| wages. 1t meant that the purchasing
| power OF his money had increased.
The effect of the silver coinage bill would
be TO make a present of 81 ,0O0,0 to the
| banks of New York and to cut down the
wages of toll 40 per cent. [Applause.l
Bryan asked leave to PROFOUND a ques-
! tion. If it were true that the gentleman
| from Missouri, Bland, and the gentleman
| from Nebraska (himsel0 were desiring to
make present to the banks of New York,
| why was it that the banks of New York
denounced them' [Applause.l
| Cockran-lt is because the banks of New
| York have discovered that in all dealings
| of life honesty is the best policy. [Long
and continued applause.
He declared that panics followed re-
dundancy ofcurrency, and quoted several
historical events to prove it. The gold we
had exported would only come back when
we sold wheat to Europe sufficient to
bring it back. We could not get it back
! by putting bad money in circulation. The
| trends of the farmer. the enemies of the
creditor, the friends OF the debtor, were
going strange way to accomplish the
purpose they had set before them. What
they would do was depreciate the farm
ers' product, depreciate the debts due by
the capitalist, and enable him to repudi-
ate part Of the balance which he owes to
the great army Of creditors who compose
the mass of the laborers Of the country.
| Returning to the question of why the
banks oppose free silver Cochran said:
MY friend asked me some time ago why
IL was that the banks have opposed this
legislation. The banks have opposed it
because the S21, ,0oO, 900, which would be
the amount the New York banks would
gain by it. would be but pittance COM
| pared with the loss that would be inflicted
on the business of the country by the
shock to its credit that would extend
throughout the universe" He closed his
| speech with an eloquent peroration.