The Maryville times. (Maryville, Tenn.) 1884-1944, 1893-09-06

Stewart In the senate in 1874 these words:
Il want the standard gold. and no paper money
that is not redeemable In gold. BY this process
we shall come to specie basis and when the
laborer shall receive his dollar 1t shall have
the same purchasing power as dollar OF gold
the universal standard OF the world Every
body knows that"
The citing OF these quotations. showing such
q remarkable change on the part OF Mr.. Stew
art, provoked general laughter at the expense
OF that senator who looked somewhat bewil-
dcred, but only stroked his long beard Suisse
quently however, he promised to reply to Mr.
Sherman On Friday next.
Mr.. Sherman followed up his advantage over
the Nevada senator by exhibiting newspaper
published In that state one whole side Of
which was occupied with notices OF assessments
on silver mining stocks all payable in United
States gold COIN Then he came back to the
main subject OF his speech. and said: II don't
think that the stoppage OF silver coinage was
the end of silver We have proved that the
mere purchasing of silver by us on a de-
Ginning market Is an improvident use OF the
public money and ought to be abandoned. at
least suspended until time which may come,
when by an international agreement or by
some provision Of law, we may guard against
the possibility OF coming to a single standard
of silver. That can be done. What do we do
now but simply stop the purchase Of silver;
We don't say when we will renew 1t again
We simply say that now, In view Of the posi-
bility of panic 1t would be unwise for us To
waste either our credit or our money In
buying that which must lie in the
cellars Of the treasury. 1t was in
order to give assurance that we dc
not intend to destroy the silver miningindustry
OF the west that we put into the bill reported
by tho committee the provision proposed by
the senator from Indiana. Instead Of aiding to
strike down silver would like to build 1t up,
and any measure that will do so and will not
demonetize gold will meet my approval and
support. But would not discover the finan-
cial business Of this great country with its 65
100000 Of people, from the standards that are
now recognized by all the Christian nations OF
| Europe. l would not have any other measure
OF value than that OF the proudest and haughti
! est country in the world. This is not ques
| ton OF mere interest to Nevada or Colo
! RADIO 1t is not question Of what Wal
/ street will do. Wall street will be always
! doing some devilment or other 1t makes NJ
difference who is up or down. l take that as
matter OF course. The question is What SHOULD
be done for the people Of the United States IL
all its length and breadth, and therefore If con
gress will say that in its opinion it is not wis
now to continue the purchase of silver bullion
there will be no injustice to Colorado or Ne
vada.
Are we bound to build up the interest Of on
section Of the country at the expense OF tn
rest? No. l believe heartily and truly tina
the best thing we can do now is to suspend TO
the time at least, the purchase OF silver bul
lion.
Recurring to the suggestion Of authoriztn
the issue of bonds, Mr.. Sherman said: Il an
willing to trust to your executive officers. l
! you are not, 1t is strange attitude in politica
affairs. would give them power to protect tn,
credit OF the government against all enemie
at home and abroad II the fight must be 70
the possession OF gold would use our cotton
our CO IN and our wheat; l would protect GU
credit against all mankind. AS to silver,
would say that we prefer to wait awhile unit
the skies are clear and until we see the effect
OF the suspension of silver coinage, and Sc
what arrangements can be made for an
time let the United States stand on 1t
strength and credit. l think that soon al
these clouds will diSsipate and that we ma
20 home to our friends with the convictio
that we have done good work for our cour
try at large. IArplause.l
Mr.. Sherman concluded at CAB, having occr
pied two hours and ten minutes. Portions {
his speech were read from manuscript but tn
great part OF 1t was delivered exteinpore an
with great rapidity and force, He was lis
tened to throughout with unfagging attentio
and interest