The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1893-08-25
THE SILVER DEBATE.
The General Drift OF Argument on the
silver Question In Congress Gathered
from the Daily SPcechmaking ON the
Subject.
IN THE HOUSE.

Subject.
IN THE HOUSE
WASHINGTON. Aug. 20-The silver debate
was resumed yesterday after the reading of the
Journal and Mr. McCreary (dem., Ky) took
the floor in advocacy of the repeal of the pur-
chasing clause OF the Sherman act An extra.
ordinary financial situation he said had in
duced the president to convene the congress in
extra session. They all agreed that the pres
ent trouble was widespread far-reaching and
full of peril to the whole country. They agreed
also that it was their duty as representatives
TO find a remedy 1t might be that
the Sherman act, so-called, was the
prime cause of the trouble. 1t might be that
the f1uctuation of silver In Europe. the shrink
age of values In many parts Of the world, the
failure of Barring Bros, had helped to bring
| about the serious monetary condition which
now existed. He had voted against the pas
| sage OF the Sherman act. That act had been a
| colossal failure and curse. The purchasing
clause OF the bill should be Immediately re-
pealed and Internationally. Let the free
coinage bill stand on its own merits. He was
not in favor of holding the Sherman act as a
hostage of the free coinage of silver. He was
| heartily in favor of the Wilson BILL Let the
| purchasing clause be repealed, and then
other legislation would follow. The Will
son bill did not demonetize silver or strike
out the double standard. He (Mr. McCreary)
was here as friend of silver and not as its
enemy. He was in favor of international bi-
| the Sherman act because this action would be
the best that could be done to help an inter
national agreement. The United States could
not afford to adopt free-coinage policy now.
The only path to free coinage was through in
| ternational agreement, aud the only way TO
reach that path was to repeal the purchasing
| clause of the Sherman act AS a bimetallist
| he did not wish to see this country relegated to
| a silver basis
Mr.. Bland inquired why the international
| monetary conference had postponed its meet
| ing from May until November
| Mr.. McCreary replied that it was postponed
TO allow the policy of bimetallism to grow in
| England. 1t had been postponedin the inter-
| est of bimetallism
Mr.. Bland asked whether the gentleman had
said that the meeting Of the conference had
| been postponed for the purpose of demonetiz-
| ing silver in this country.
Mr.. McCreary-I decline to yield to the gen.
tleman if he insists upon misrepresenting my
| position.
Continuing his speech, Mr. McCreary ex-
pressed his regret that the question of a change
of ratio between gold and silver had been in
/ jected into this discussion. He had no SYM
pathy with those who now desired to change
| the ratio from is to 20-to-1. The first duty OF
| congress was to act without delay. Repeal the
purchasing clause Of the Sherman act. The
| second duty was to let free coinage alone for
| the present. Its third duty was to stand by
patriotic president in his efforts to advance the
"a VA
| nation.
Mr.. Catchings (dem., Miss) said he would
| vote for the unconditional repeal of the pur-
| chasing clause of the Sherman act and he
| would vote against any proposition. directly or
indirectly, looking to the free coinage of silver
| in this country at this time at any ratio that
| could be suggested. He had come to this de-
| termination after careful consideration and
| after careful study OF the Chicago platform.
1t had been said tnat no democrat could vote
nSf froo 10
His democracy was good as that OF anyone
on this floor. and he would not allow any man
to question it. He was in favor or the repeal
of the purchasing clause of the Sherman act,
because it would tend to restore confidence.
He would go further and say that it would re-
store confidence and unlock the money that
had been boarded up.
Mr.. Livingston dem, Ca said there was 10
reason why men should not rise above partisan
ship and discuss the disposition of the pending
question as sensible men and patriots He IA
vored bimetalliSm, and the plain question now
presented was between a single gold standard
and bfmetallism. The Chicago platform had de-
nounced the Sherman act as 'cowardly make
shift" makeshift for what? For a single
gold standard? No A makeshift for the free
coinage of silver. The bill for the repeal of
the purchasing clause of the Sherman act did
not place the democratic party where the Chi
cago platform proposed to leave it. He
denied that the purchasing clause was
responsible for the present financial
trouble. Years ago the farmers had come
to congress asking for relief and they had
been greeted as calamity howlers." He had
then predicted to the present governor OF New
York that within two years the calamity
howlers'' would come from another quarter.
Who was bowling for relief? The farm
ers? They had ceased to be howlers.
The howl now came from the banks and the
bankers. 1t was now proposed by placing the
United States on a single gold standard to put
this country into the hands of re-
ceiver and turn it over to England.
The money men and the business men OF
England were getting shaky, and they said
now that this gold craze had taken deeper root
than they had expected. He made the predie-
tion that if the purchasing clause of the Sher-
man act were repealed the price of products
in this country would not be increased The
gentleman from Kentucky {Mr. McCreary) had !
spoken in favor of an international monetary |
conference. Why not have an interstate none |
tary conference? He that provideth not for
those of his own household hath renonnced the |
faith and is worse than an infdel"
He would hail with delight proposition that
the governor, the secretary and treasurer of
every state should be called together in Wash |
ington city, there to discuss what was good |
for the United States. Congress was now en- |
deavoring to hitch the horse at the wrong end |
of the cart.
Mr. Richards (dem.. o. believed that Presi- |
dent Cleveland was right in attributing to the
purchasing clause of the Sherman bill the pres. |
ent depression.
The house then at 5 O'Clock took a recess un-
til o'clock.
EVENING SESSION.
After the recess to a crowded gallery, but to |
a very small attendance on the floor Mr.. Curtis
(rep. Kan.) spoke in support of the Wilson
bill but in a conservative manner. He was in |
favor OF ratio of 20 to |.
Mr. Broderick (rep., Kan.) spoke in favor of
bimetallism and prosperity. which terms he
rfJed ali
Mr. Clark (dem., Mo- addressed the house in
favor of free coinage OF silver. To demonetize
or not to demonetize silver the question
that confronted congress. There no sense
in whipping the devil around the stump.
[Iaughterl The issue was squarely joined. |
After 5000 years of welded life the gold bugs
asked of congress that the metals should be di-
vorced at the benest OF England the bully OF
all nations. Oae hundred and seventeen years |
ago this country had declared its political in
dependence, and some gentlemen had now the
audacity TO believe the time had come when
she should declare her financial independence.
At the conclusion OF Mr.. Clark's speech the
house. at 1920, adjourned
sW1FE," said a henpecKed husband, Ego
IN he'd - 81 wontr' ''Sit up, then. will |
-, a