The Meeker herald., 1893-09-09

vet and will defend II, not as n measure vi
good policy. not rs = measure IN "hici N, 'ahe
sDf pride because was yielding to dire ne
re.sityl but because without 1t we would nave
met iltlicuities IN 1891 and 1872 which would
nave staggered us much more than the pass
ing breeze of the boar.
II am not blind.in regard TO The operation
of the law of 1890 Long before our Demo-
cratic friends ever thought of providing any
measure OF relief proposed relief In bill
which ! introduced, In almost the same words
as the bill Of the senator from Indiana " ooi-
hc,si But dld our friends on the other side
see the danger then and help Us to suspend
the operation OF the law OF 1890: They can
NOT answer. / did think, after tw years trial,
that Il was better to suspend 1t: and We, on
this side OF the chamber, tried to do 1t; but
we had no support on the other side. II Is,
therefore, manifest am not a new convert to
The repeal Of the purchasing clause OF the
act Of 1890 do not however, vote for the
REPEAL with any anticipation that Will IN
pny considerable degree, relieve Us from the
industrial stagnation that has fallen on Us ana
that has thrown out of employment hundreds
OF thousands Of people.
u'Tbe Prc.ltler,t in tho midst of the panic
appeals 10 lis to repeal this law, and he will
not make this appeal to me In vain, nave
no sympathy with him in politics. but be
l!eyc IN this matter he Is right aud 1t Is my
duty To respond TO HI call. viii cooperate
In any measure that VIII tend to maintain
the harmonious use OF silver and gold a,
standards Of value. ! hope The next measure
of relief which my friend from Indiana
(Voorhec,) will provide will be broad 10
cral measure, authorizing the President or
the secretary of the treasury 10 sell securities
IN order to maintain the parity Of our cur
rencr. There I. another thing. We must not
overlook the fact that possibly tile balance oil
trade mas be against Us next year. The APP
Preparations made ht tue last Congrts
though made after the scrutiny of careful
economists. may exceed the revenues of the
government and some authority to make
good the deficit (whateyer 1t might be- ought
to be provided Some power should be given
TO the executive In the matter. II that be
not done and the revenues be too small TO
meet expenses. the executive would have no
power to meet the deiicit.'
At this point OF his speech Mr.. Sherman
replied to and cleared away all the charges
and asper-lous made by senators and Others
I'm connection with his -o-called act 1ernonc
tizing silver In 1873, aud he confessed to some
annoyance at the statement made the other
day by Mr. VOORHEES, that the action OF those
who had managed the legislation had been
sealthy and treaeherous.
Mr.. voorhees, declared that nothing could
be farther from his purpose or his Intention
than to say an unkind or disrcspectful word
about the senator from Ohio. The senator
was not In his mind At all when he uttered
those words, but they were disagrecahle or
offensive TO him he expressed his regret at
4
capable Of ailietinE aifront on any gentle
man ia the Senate or elsewhere
Mr. sherman said that certainly he did not
desire 10 say anything more on the matter,
being entirely satisfied. lie reviewed, how
ever the lrEl.lat ON of 1873 and denounced
the manner In which Ernst seyd, the English
economist, had been denounced In connec-
tlou with the matter Seyd played no part In
til. legislation. The statement was Infamous
Is fal-c that seyd or anyone else paid sJ9l'-
L - NHF.r
Of silver Seyd was bl-meiall-t n showed
hy reference to hi published books ,
he was one OF the leading financial
experts ot the world; he occupied
au honorable position In London and an hon
orcd one wherever he was known aud be be-
'icycl him TO have been an honest sincere,
ineorruptiblr man Seyd had never visited
America uuti tie bill wa almost through
Congress and 1t wa Infamous that the charge
should br frequently made that public men
had been hrbcd into passing the bill OF l-'3,
.plerenfter." said MIR. sherman, when auy
man makes such statement about this lcgi,-
lation, hall simply say that 1t Is false
hood aud brand u 80.
There was nothing surreptltous about H.
.aid Mr. sherman, with much warmth, and
no fact can be proven more clearly Inc
statement so often made TO The contrary j. n
ialschood aud lie Il care not by whom made
He quoted from speeches made by Mr..
Stewart in the Srnate IN 1873 aud 1874 these
words.
u want the standard gold and no paper
This process we hall come TO a ,pcclilc basis,
and whcn the lahorer shall receive his dollar
u III be Of The same purchasing power as u
dollar. Gold is the universal standard of the
world Everybody knows that
The reading OF these quotations showing
-uch a remarkable change Of opinion on the
part II Mr. Stewart provoked general laugh
ter Vt the expense of that gentleman, who
ttsl haf he .lr,4tI
his long beard. Subsequently. however, he
promised to reply TO Mr.. sherman on Friday
next Mr.. sherman followed up his advan.
tag" over the Nevada senator By exhibiting .
newspaper published In that state, one whole
side oi which was occupied with notices Of
assessments on silver mining stock all payable
IN unlted States gold coinage.
Then he came back To the subject of his
speech aud aid: IL do not mink that the
-toppage of silver coinage wa. the end Of
silver. We have proven that the mere pur-
chase OF silver by us on declining market
Is an improyident use OF the public money
and ought to be abandoned or Mt least slis-
pended. until a time may come when, by an
international agreement or by come provision
, of law, we may guard against the possibility
/ OF coming into single standard of silver
This Is not question OF mere interest to Nc
yada or Colorado. II Is not a question of
what Wall street viii do. Wall street will
always be doing some deyilmeut or other, It
makes no difference who is up or down. /
take that as matter of course. The ques-
ton l., what should be done for the people of
the United States in all its length and
breadth, and therefore II Congress will say
that In IT. opiuion It Is not wise now TO con
tinue the purchase of silver bullion there VIII
be no Injustice done TO Colorado or Nevada. 80
Recurring to the subject of authorizing the
issue OF bonds, Mr.. Sherman said
II am willing TO trust to your executive
officers II you are not 1t l. = strange atti-
tudc In political Affairs. ! would give them
power to protect the credit of the government
against all enemies at home aud abroad. II
thc fight must be for the possession Of gold.
would use oar cotton and our corn and our
wheat. and would protect our credit against
all mankind. As TO silver. would say tina:
We prefer TO wait while until the skies are
clear, until we see the effects OF the suspen-
sion of silver coinage IN India and see what
arrangements can be made for another inter
national monetary conference. In the mean
time, let the United States stand on it,
strength and credit | think that soon all
these clouds will he dssipated and we may
20 home to our friends with the conviction
that We have done good work for our coun-
try at large Applause,
When he had concluded. the repeating bill
ION which he had spoken was laid aside aud
the national bank bill was taken up to allow
Mr.. Teller to finish the speech which he had
begun yesterday.
Mr. Teller assumed from newspaper arti-
organized CARLY in the season In New York
for Il purpose of creating financial panic that
would compel an extra session-the repeal of
the purchasing clause OF the Sherman act.
lie would not have anyone infer that the bak-
ers had intended TO create the condition of