The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-08-26
HILLS SILVER SPEECH.
The New York Senator Speaks for
Bimetallism,
A SLAP AT THE ADMINISTRATION.

| a bLAf Al IHh ADMIN NlSTRATION
He VIII Vote for the Repeal Bill "Un-
awed by Power and Uncorrupted by
Federal Patronage"-H Is for Free
Coinage at Il Diminished Ratio.
| WASHINGTON, Aug. 2G.-At the close of
| the routine business in the senate, which
/ comprised no matter Of public interest ex-
\ cept The presentation of communications
! from the treasury department adverse to
any special legislation in regard to penal
I ties on the whisky tax, Mr. Hill addressed
| the chair and was recognized
! There were those, Mr. Hill said, who did
/ not wholly agree with the president in his
| diagnosis Of the malady now affecting the
| body polite, and who did not hastily Join
with him in the rosy conclusions that the
financial millennium is to come the mo-
meut the Sherman law is removed
There were some who had given the sub
Ject attention who believed the cause of
the present depression was deeper and be-
youd the Sherman bill, and that its found
atiOns were laid in the evil hours of 1873,
when the country unwittingly laid aside
the financial policy that had been its guide
The existing financial disturbance, Mr..
Hin found, was attributable to three dis.
tinct causes:
First-It was the natural and inevitable
result of many years of real or fictitious
prosperity.
Second-Some portion of the present
panic could be traced to a concerted effort
on the part Of the monometallists to pro-
duce it in order to discredit silver.
Ihird.-But no matter what else may
nave contributed to the present financial
condition it would not be denied that the
silver purchase law had been, at least in
part, and possibly the most largely in
strum entail in producing existing compli-
cations.
Mr.. Hill did not believe that simple re-
peal Of the Sherman law would at once
restore abundant prosperity, but that
many years would be required to recover
from the present disturbance He com
pared his course in declaring for repeal
with the presidents course in failing to
refer TO it until this late day.
He was a bimetallist and stood for free
coinage at proper ratio. Had the Sher-
man law been repealed at the last session,
OF in special session on the 5th of March,
the United States would have escaped the
present panic and precluded the closure of
the Indian miuts. Independent, free bi-
metallic coinage of the United States was
mot consistent with the counsels of none
tary science While repeal would not
bring parity, it would facilitate it by
bringing that new-fangled monetary
theory mOnometallism, begotten in
the embraces Of ignorance with rapacity-
at last to an unequivocal and crucial test,
The permanent remedy for our financial
difficulty was to return to the bimetallism
chat existed prior to 1873.
Mr. Hill favored the increase of the ma
tioual bank currency as proposed in the
pending bill. Continuing, he said he re-
Barded the question of ratio as not timely
ilnd as of the least consequence; but if
changed at all it should not be enlarged
but diminished to 151f, the Latin union
Ratio.
He would refuse to follow in the foot
steps of any administration that sought to
place the Democratic party in a false po-
Bition and lead it into the very camp of
the enemy. The president must rely on
Republican votes to carry out any such
suicidal policy. He did not believe, how
ever, that any such course would be taken
by the president by his own volition or
even under the inspiration ofindiscreet adj
yisers, until clearer evidence shall be fur
nished than now exists. He deprecated
.hasty action in the formation of definite
financial plan, and predicted the failure of
the attempt to impose gold standard on
India
Meanwhile the prompt repeal of the
Sherman law was demanded as a measure
Of temporary relief. Let us legislate upon
the financial question, said Mr. Hill, and
then return to our homes next December
resuming the consideration of perma-
nent system. His distinguished colleague
and himself would cheerfully vote for the
repeal bill 'unawed by power and uncor-
rupted by the federal patronage"
He predicted the passage of the bill by
the senate, and that the republic would
weather the present storm.
1 When he declared that himself and his
colleague would vote for the pending bill,
Unawed by power and uncorrupted by
federal patronage there was an outburst
of applause in the galleries, which the vice
president suppressed, declaring that if
any other manifestations occurred the
galleries would be cleared.
Mr.. Hill retired into one of the cloak
rooms, where he was surrounded by sena-
tors and others offering congratulations.
.As soon as order was restored Mr.. Stewart
took the floor and addressed the senate,
denouncing the pending bill as measure