Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1893-09-09

the cause OF the present condition VI At
fairs. IL Is the undiseoverablc uncer-
tainty of the future Of both the currency
questions and the questions t.r,@ q
| do not regard the Sher-
man act, as e :.sslf alone, responsible for
our present condition of affairs. neverthe-
less I do believe that the Sherman act and
the accumulation of silver in the treas
ury was the earliest indicator of the dis
astcr which we are approaching and that
n has played q part not entirely unfortu-
nate In warning us that VIC can be saved
from still further misfortune and doubt."
Referring to the new political condi-
tions which exist Mr.. Reed said: ut is
perfectly true that the democratic party
Is responsible for whatever occurs In the
future and whatever does not occur. For
the first time In thirty years they have
been removed from the low level Of criti-
cism of the acts of others and have been
lifted to'the high level OF responsibility
and Of performance. IL could not be ex-
pected that they would change
their nature In the twinkling Of
an eye. | am sorry that we have not been
permitted to inherit our wisdom In the
way Of amendments; that we nave not
been allowed to take the vote of the house
as to the various propositions to meet this
affair. which would seem satisfac-
tory to Us. We are confined to
those propositions which the whole
democrats de,aUcnaG % party, party. 70 have a AMI finally nny
sorry tina this question cannot be settled
and settled righteously within the bounds
of the democratic party itself, but l
nov and every man in this country
knows, the majority of the democratic
party would decide against the good sense
of the nation"
D..- A. A. H. aA-..IA.t@ -
the question Of repeal, Mr.. Reed said that
while he was in favor of 1t, he did rot
think 1t would be an immediate cause OF a
revival OF the prosperity of the country,
nevertheless he would vote for
repeal for two reasons. 1. Because
whether justly or not, the Sherman
law is believed to be the cause OF the I'M
reasonable boarding OF currency through
out the country. The second reason was
that only by repeal could the nation hope
TO attract foreign capital, without which
IL were vain 10 hope for an mp
ward turn of the country's business.
In conclusion Mr.. Reed said: what,
then, is the pathway of dutyl Uncondi-
tional repeal That will either give relief
or not. II not, then VIC must try some-
thing else, and the sooner the better. We
republicans today. The president of the
United States finds himself powerless in
his first great recommendation to his
party. We're he left to their tender mer-
cies the country would witness the spec
tacle of the president Of its choice over
thrown by the party charged with the
country's government. What wonder
then the appeals to the patriotism of an
other party whose patriotism has never
been appealed TO In vain. The proudest
part Of the proud record OF the repuq-
lican party has been its ~steadfast
devotion TO the cause of sound finance.
What we were in our days of victory we
are in our days of defeat, champions of
true and solid finance, and when the day
comes as it surely will come, Tor us TO
lead this land back to the paths of pros
perity and fame which were trodden IN
der republican rule for SO many years we
shall take back with us our ancient glory
undiminished by adversely, our ancient
honor unsullied by defeat
Mr.. Reeds speech was received with
marked attention by the members OF both
sides and aroused The widest applause
and enthusiasm from the republicans. He
was followed by Mr.. DeArmond, dem ,
Missouri, who proceeded to make "A speech
lin Mr.. BANDS time in opposition to un-
conditional repeal
Mr.. Allen, dem, Mississippi, was the
next speaker and was followed by Mr..
Cochran, dem, New York. Mr..
Cochran said that after listening
TO the speech of the gentleman
who had Just taken his seat every
one would admit that arguments In favor
of free coinage of silver were picturesque
rather than convincing. He could
not agree with the gentleman from Maine
that these periods Of depression were in
separable from the advancement of civili-
~zation, but believed each was due TO a
specific cause which might be readily dis
covered. Mr. Cochran said that the
platform of the democratic party
did not declare for free coinage
of silver; that an attempt was
made in the convention by a delegate
from Colorado to commit the party to that
principle, but failed TO secure ten votes
on the floor OF the convention in support
Of the proposition. I'VE are told,' said
Mr.. Cochran, ''by Colorado and Nevada
that we are in this matter departing from
the platform; II that is the case why did
in the election of 1922 II was
because those states abandoned the
declarations OF the democratic platform
that the gentleman from Colorado, Mr..
Pence, who had so often entertained, mis-
associates on the floor, was added TO the
membership Of the house. Mr.. Cochran
said that in regard to this question IA,
stood upon the democratic platform with
both feet, and IL was those who differed
from him who were trying 10 push him
on. Mr.. Cochran asseI ted that there was
no instance In the history of civilization
where gold and silver ever circulated side
by sid at any ratio. 1t was impossible
that they should do so, and he defied the
gentleman from Missouri (Mr. Bland) to
name an exception The fluctuations of the
values OF the two coins were sufficient to
constantly drive out the dearer metal and
this, said Mr.. Cochran, YEAS the inevitable
result. France was compelled to import
5000, OOO, 900 in gold to maintain the parity
OF the silver which she had coined. That
was what the United States would have
to do If 1t was desired TO maintain the
parity OF the silver we hayS coined.
Referring to the assertion IN the recent
speech Of the gentleman from Nebraska
tMr. Bryan that silver was the basis OF
value OF the farmers products, Mr..
Cochran inquired: IF that be so why do
You not give him the value of it, You
would give the farmer Blk grains of
pure silver while l should give him 56lL
grains" The debasement of the coin
proposed, Mr.. Cochran said, would have
the result Of reducing debts
to the amount OF As per cent.
The gentleman from Nebraska (Mr.
Bryan assumed that the loss would fall
on the banks. But the fact was that ein
the nature Of things the banks and cor
porations are the debtors of the country
and the ~workingmen are the creditors.
Gentlemen tell us that gold has appre-
ciated. l deny 1t. Thu Aldrich report
shows that never before in the history of
the world did the laboring man In Amer
lea receive 30 much In gold for his labor.
ICheersl. But h gentlemen from Ne
braska and from Missouri propose
by their plans to make the bankers OF
New York alone a present OF SCI ,0O0, 0O0in
the settlement Of accounts with their de-
positors, and to deprive the laboring man
OF 40 per cent OF the value OF his work"
Mr. Bryan-Wll the gentleman kindly
say how IL Is, IL his statements respecting
the gentleman from Missouri and myself
are true, that the banks of New York de-
nounce us and Terrence ". Powderly Is
with usi Applause.
Cockran--I will answer. It is because
the bankers Of New York have learned
that, I'm business and politics alike, hon.
esty Is the best policy. Applause.
Continuing. Mr.. Cochran said that the
trouble in this country was not dine to
lack Of money, but to lack OF redundancy
Of money. Money was not wealth. Il was
the machinery with which trade Is
worked
Mr.. Cochran was overwhelmed With
congratulations on his magnificent effort
which occupied an hour and a halt In its
delivery, n at its close there were tu-
muituous cries Of "vote." The excite
ment on the floor was so great that Speak
err Crisp was compelled 20 call upon tho
officers OF the house to pass through the
aisles n request members 10
take their seats or to repair