The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-08-24
SENATOR MANDERsoN's BILL FOR Ex.
TENDED SILVER PURCHASES.
Congressman Bryan Of Nebraska Made the
Speech Of the Day, Advocating Free
Coinage, and Giving Reasons
in Eloquent 0ratory.
SENATE.

Senator Henderson introduced bill
directing the purchase of silver bullion
and the issuance of treasury notes
therefor and for the appointment of 9
mint commission and providing fol
the issue of treasury notes, redemption
and other purposes. Senator Berry
addressed the senate in favor of a
double standard of gold and silver. II
was generally agreed, he said, that the
Sherman act was thoroughly bad and
he was particularly gratified that not
a single Democratic vote had been cast
for it either in the senate or house.
The repeal of the act without other
legislation would place the country
upon gold basis and would prevent
the future coinage of any silver and
forever practically destroy silver as
money. He believed in a double
standard and was not willing to cast a
vote for gold standard. He believed
Cleveland was man of the highest
and most patriotic purpose, of great
ability, thoroughly honest and abso-
lutely fearless in expression of his
opinions. Cleveland had often de-.
clared in favor of bi-metalism and he
was confident that Notwithstanding
the presidents failure to discuss BIZ
metalism in his message, he would APP.
prove any bill that repealed the Sher-
man law and provided for circula-
ton of both gold and silver on such
terms as would give them equal value.
Senator Gallinger declared himself
ready to vote at the earliest possible
moment for the repeal of the Sherman
act, though he did not believe that
much abused law was largely RESPONSE
BILE for the existing financial evils.
At the close of Senator Gallinger's
speech the executive session adj
journed.
The financial discussion took on a
deeper interest today than since the
opening day of debate. William j.
Bryan, the eloquent young congress
man from Nebraska, added greater
laurels to his reputation as an orator
and made free coinage speech which
in the opinion of many surpassed the
great tariff speech which gave his
name to fame two years ago. For
nearly three hours Bryan held the in
terested attention of the house and
galleries and every interruption to
which he was subjected only gave OPP
portunities for those brilliant repair
tees for which he is so famous.
The discussion was opened by Mr..
Mccall of Massachusetts,, no made an
elaborate argument for the repeal of
the purchase clause of the Sherman
act and denied that such action could
be justly construed as an attack on bl.
metalism.
Mr.. Combs, speaking for repeal,
highly commended the presidents
which in his opinion had
never been surpassed by, any state
paper.
In opening his argument against
unconditional repeal, Mr.. Bryan said:
Upon the action of this congress
might depend not only the welfare of
the South and West not only the well
fare of the United States, but the well
fare of humanity itself for ages to
come. Some outside of this hall have
that the recommendation of
the president imposed some obliga-
lions upon Democratic members to do
as he desired, and some have even
been hard enough to suggest that fail
ure to fall in with the recommends
lions there would subject the dissenter
TO administrative displeasure. But
those persons did the president great
injustice. The president would not
for moment forget the independence
Of the two branches of congress. Let
the presidents own language rebuke
those who would from false fealty
change their convictions upon the
subject in order to conform to
his suggestions. If the United
States, the great silver producing
country, abandons silver, it will in all
lead to the humiliation of
silver as standard money throughout
the world. The only law making any
provision for an increased used of sill
yer money is the Sherman law. The
president has recommended its uncon-
ditional repeal. Democratic members
are under no obligations to adopt the
recommendation since they are re-
sponsible to their constituents only,
ane in duty bound to protect their
rights and regard their interests. We
are being dragged towards univei sal
gold standard, to realm over whose
door is written: Abandon hope, all
ye, who enter here There is no such
thing as an honest dollar, because an
honest dollar would alway have some
purchasing power, and the govern
ment has never attempted to secure
absolute stability in a dollar. The
most dishonest dollar ever proposed is
that child of averice and ignorance
called the gold dollar, for it would cou
stautly rise in vaule and cheat debtors.
While we cannot secure ABSOLUTELY
honest dollar we should approach it
as nearly as possible and a bimetalic
standard ought to be adopted because
with bimetalism the money unit fluct-
yates less than under single atand-
ard. International bimetalism is de-
sirable but not necessary and not pro-
bable. Other European nations wait
upon England. Englands interests
lie in the direction of a gold standard.
To make our action dependent upon
hers allows her to legislate for our peo-
pie and is violative of our right of
self government.
eve believe the restoration of the
right of free coinage as it existed pre-
vious to 1878 would raise the price of