Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-09-13


ers. the gold riass in New York. IL des-
pesasaoes Of Wall street. the money kinss
Of Europe, 10 whom ne are financially en-
shaved, they viii present the s,eenbecks for
redemption aaa destructioa - fast a. the
gold can be paid over the counters Of the
treasury"
States Senator Coke Of Texas. voiced the
implseable hostility Of his party. a. follow
1T Is better, Mr.. President. that we bids
our tine and turn back from the frightfui
a5yu Of ruin which yavns ac.oss the path
way 10 resumption The experiment must
end IN failure. and must sngulf the country
10 lower deep Of misery than il has yet
fsthouled. The huIk of the State. private,
and savings banks. with their VASE sum Of
the peoples deposits. must 60 by the board
BY reason Of tie insussiciency Of their re-
serves. ami many of the national banks
mns, fall from the same cause. In this
general crash ths whole system. from the
treasury down, must sueeamn. IL is siD-
ply question Of time, for this result must
occur. and in ny Judgment. the time viii
be vsrt shorI after the Is, day Of January
next."
And this Democratic opposition 10 resun-
ing specie payments was not confined 10
talk, for We Hnd repeated records Of hostile
votes
On January 10, 1916, Mr.. Holman moved
10 suspend the rules and pass a resolution
10 report a bill 70 repeal 30 much Of the re
sumption act a. authorized the secretary OF
the treasury 10 redeem in coin United States
notes. II lacked txo-thirds vote, but
there were i05 yeas 70 80 nays, and Of those
yeas all but 10 were Democrats.
February ia, 1876, resolution empow-
srlng the secretary of the treasury 10 carry
out the provisions of the resumption act
was lost-e5 yeas, 1879 nays; all but Of
the nays being Democrats.
January 7, 1875, resolution to repeal
the resumption act was lost-yeas liz, nays
l5s, and 1906 Of the ll2 yeas were Demo-
Gratis.
August 5, 1876, Mr.. Cox reported bill
providing that the resumption-day clause
Of the resumption act of 1873" be repealed.
and IL passed the House-yeAs lo6, nays
81; all but of the favoring votes being
cast by Democrats.
June a, 1878, Mr. Townshend Of ilh-
n0is, moved to suspend the rules and repeal
the pro DIVISION of the resumption act author
izing the sale Of bonds for resumption par-
poses it only failed for lack Of two-thirds,
there being-yeas ll5, nays Ill; and Of
the yeas all bat Is were cast by Democrats.
SO might 20 on, Mr.. Speaker, with the
record of Democratic hostility TO every
in pJrtant measure devised by the Repub-
licsn party for the purpose Of maintaining
the phghted faith Of this nation, and to
give 10 our currency and our credit, rat
home and abroad, that stability which was
necessary to place US in the rank we were
entitled 10 occupy among the great nations
of the earth.
But some gentlemen may say this Is an
cienI history. All, yes, my friends, you
De uocrats are very glad to have your his
,o-y regarded as ancient the day after it is
LIade. Laughter, And you never re-
cognize any sound principle until after we
have established it in spite of you.
No more graphic characterization OF this
trait of the Democratic party has ever
come to my knowledge than that which de-
scribed it ~ like man who rode backward
in raIiva car and therefore could never
see anything outside until the train had
got past it. Laughter. SO you are
very glad to swathe your record in the
bsndages Of forgetfulness and to raise the
cry of dead issues whenever you are re-
called to the unwelcome duty of examining
the history of the past.
But without follow ing this history in con-
tinuous sequence, | make the declaration
here, without fear of contradiction, that
from the beginning of the Rebellion to the
present time upon every occasion when any
public measure has been pending involving
the financial interests and integrity of the
country on the one side, and depreciation,
initiation, or Reputation on the other, it has
always been made a partisan question by
the Democracy, and they have invariably
been ranged against the national credit
and the Republican party in defence of it.
Democracy ior Silver Imitation.
Why, take this silver legislation with a
phase of which we are now concerning our
selves. Let us go back simply to the pass
age of the Bland bill, bill for coming sill
yer dollars of greatly deprecated value I'M
til, defamation and fiat eloquence to the
contrary notwithstanding, they rate in the
markets of the world for only about half
the value of their face.
The Bland bill (which | ought to remind
you was first vetoed by Republican Presi-
dent when passed over the veto Of President
HAYES. went through the House by q vote of
Ils Democrats and ~ Republicans. the
Democrats being nearly two to one in its IA
vor. The nays were 81 Republicans and
~ i'ehocrats' the hePuoiicans oehhs ihofe
than two to one against it.
Tha So. CaIted Sherman Act.
Ana THIS brings US uo~n 10 tie passage
| OF the so-calied sherman ACT AN very
glad that the ciear statements OF number
or the gentlemen VINO nave precedeo me
have rendered II en'ifeiy unnecessary has
snouid go INTO history Oh ''e passsse Vi
that set' 10 uisaouse 'ie minus oi any pur-
onnu readers Oh .oheressiohai his"'y "no
might be confused INTO the iaea Una. the
hepuoiieans were ehactihg Original SILVER
| imitation by the passage OF the sherman
act.
what were we doihg at 'ha' tIhe: 10
day we are arralgned from the frehdehe
message down to the penny-a-iiners IN .ne
Democratic press OF the country a. poin-
cal party that IN the fhty-hf' congress
| undertook TO inaugaraIe system OF HiVei
depreciation OF our currency -nuahciai
leeI=laton that was nerogstofy 10 the
maintenance OF the high standard OF our
public credit.
Now, was here at that time and took
some interest in what transpired, and when
saw these diatrioes IN the Democratic
party organs, arraigning my party as raise
to the high standard of national integrity
and Il sound currency, looked back to see
if my memory had deceived me. And what
did tiudf That IN the FIFTY hrst congress
we were confronted with the alternative OF
e, i al, faI lrRp RrtN no