The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-09-01
Ex.sPEAkER REED.
His Address on the silver Question In the
House.

His Address on the silver Question In the
House.
WASHINGTON, Aug. 2S.-Saturday
marked the elimination of the silver
debate in the house, but although it
was intensely warm in the open air
and more than sultry in the hall of
representatives, the galleries and floors
were crowded. 1t was known that ex-
Speaker Reed would virtually open the
debate and that many of the most
noted orators in the house would be
heard from during the day.
Ex-Speaker Reed, in beginning his
speech, confessed doubts of the wisdom
of the house to deal satisfactorily with
the question before it, but expressed
his comfort at being able to fall back
| upon the well esta blished belief in the
wisdom of the decisions of congress.
inseparable accomplishments of all hui
man progress, which was a series of
upward starts and of falls of almost
proportionate length. The fluctua-
tions occurred almost simultan-
eously, always sympathetically the
world over, so closely was business
allied by the telegraph and railroad.
Because of the fact that the drain of
gold from the United States since the
passage of the Sherman law in 1890
carried out of the country an amount
equal to the value of the purchases of
silver under the law, people saw in it
the cause of the loss of gold and dis
trust was engendered and a season of
boarding and depression set in and to-
day the country was suffering all the
calamities of restricted circulation in
the midst of an abundant supply of
money.
Mr.. Reed then declared that the dem
ocrats won last fall because of the
apathy of the people. He believed that
a large proportion of the troubles of to-
day were due to uncertainty as to
tariff legislation. No matter how con-
servative the democrats might be, their
pledges were such as 20 cause manu-
facturers and business men to draw in
their enterprises. He did not think
the Sherman act in itself alone was re-
sponsible for all the ills of to-day. but he
did believe that it and the consequent
accumulation of silver were the earliest
indicators of disaster. He thought
that the workingmen of the country
would call halt on the still greater
threatened dangers from tariff reduc
tions
Passing to the consideration of the
question of repeal. Mr.. Reed said that
while he was in favor of it he did not
think it would Immediately cause a
revival of the prosperity of the country.
Nevertheless he would vote for repeal
first, because, whether justly or not,
the Sherman law was believed to be
the cause of the unreasonable boarding
of currency throughout the country.
In this connection he paid
compliment to the managers
of the banks generally, say
ing that in his Judgment they were do
ing an honorable and patriotic work.
The second reason was that only by
repeal could the nation hope to attract
foreign capital, without which it were
vain to hope for an upward turn of the
country's business.
Mr.. Reed paid his respects to the OBJ
lection that proposed repeal was re-
newed decentralization of silver and
characterized the charge that the law
of 1873 was n trick as lone of the most
stupendous fabrications which has ever
existed in political life"
In conclusion Mr. Reed said:
What then. is the pathway of duty: The TN
conditional repeal. That will either give relief
or not and if not then we must try something
else and the sooner the better. II is m utter
of deep regret to all sensible men that we have
delayed so long. Men are to-day struggling
almost against fa'e and praying for relief The
banks are strained almost to the point of break
ing 1t is such pity that we had 10 waste SO
much time in this weary welter OF talk.
We stand in n very peculiar position, we re-
publcans, to-day. The representative OF the
democratic party, just chosen president, finds
himself powerless in his first great recon-
mendaton 10 his own party Were he left to
their tender mercies the country would witness
the spectacle of the president of its choice over
thrown by the party charged With this coun-
try's government What wonder then that he
appeals 10 the patriotism of another party
whose patriotism has never been appealed to
in vain. Never, say, in vain
The proudest part Of the proud record OF the
republican party has been its s;eadfast devo-
tion to the cause of sound finance. When the
country was tempted to paw its bonds in depre-
ciated money, the republican party responded
with loud acclaim 10 tnat noble sentiment OF
Gen Hawley that ever; boni was as sacred as
a soldiers grave. 1t cost US hard fighting and
sore struggle. But the credit of this country
has no superior in the world When the
same arguments heard to-day were heard
fifteen years ago sounding the praises OF
q deprecated currency and proclaming the
giories of fiat money. the party OF Abraham
Lincoln marched steadily toward specie pay
ment and prosperity. What We were in
our davs of victory We are in our
days of defeat-champions of true and
solid hnance-and when the day comes.
as it surely will come, for us to lead
this land back TO the pIths Of prosperity and
fame which were trodden under republican
rule for many years, we shall take back
with US our ancient glory undimmed by adver-
sity, our ancient honor uusullied by defeat