The Russellville Democrat., 1893-09-14

 bonds whenever necessary to replenieh ihe gold reterye and then go on and issue against silver bullion the $50, GOO, GOO of treasury notes year. The other is to re- peal the law whi,h Ii increases monthly and arbitrarily the volume of credit money now being issue by the government, hut which, where it now gives $l to circula- tion costs $10 in the way of contraction. Neither of these policies would bs final settlement of the matter, but either would impart immediate and perfect confidence in the stability of our unit value.
 No one has advised II would not advise
 that we increase the public 1ebt in order to provide q reserve for the circulating medium that Is now being isssed. The proposition before the house is the wiser proposition os the two. But some gentle men hold that if this be done there will never be any further legislation upon the silvsr question. Upon what ground can gentlemen maintain that positionf Is there anything in your pledges, gentlemen, that should make you unwilling to have such legislationf Is there anything the principles or past attitude of our party that would prevent it's being taken upf Are we not now in control of all branches of the federal government7 Is there any thing coupled with this bill that shackles the people or diminishes their rights and their liberties, so that if they want furs ther silver legislation they cannot get itf can see no real reason for that argument, unless it be an inner consciousness on the part of gentlemen that they themselves will insist upon something that will not be approved by intelligent public opinion or stand the test of discussion. Alp plause.
 Some gentlemen say gold is returning from abroad and the trouble is over. Mir. Speaker, the return of gold is salutary, of course, but how is it procuredY
 In the first place the returned gold is largely obtained by sales to Europe of American securities and farm products at bankrupt prices. Shall we perpetuate bankruptcy as means of maintaining our standard of valuei
 Then, again, this gold is said to be large ly the proceeds of loans placed in Europe. Our institutions of deposit are refusing to lend money upon any security, it mat ters not how good. Naturally the banks of Europe will lend in some of these cases, but that means that soon the gold must be returned. and hence this move ment may be largely delusive.
 No, Mir. Speaker, this policy of issuing bills of credit without making some adequate provision for their redemption has come to an end. The idea that America is exempt from the opera tion of the ordinary laws of nature is no longer entertained. The waste of this most resourceful country has almost equaled that of the prodigal son. The dis sipation of this young giant has as last brought even him to his knees
 Yes, the delusion that America Is law unto herself is dispelled, and from this time forth we must conform to the eternal principles of wisdom and right, or our re- covery will be but for the moment, if, in- deed, we are not kept for long time in our present state of prostration.
 Mr. Speaker, there are some curious features developed in this debate, aud, coming as they do from able and studious gentlemen, expressed as they are fy nu- merous prominent journals, entertained as they are by vast numbers of our people, they show conclusively how unprepared the country is at this moment to in- spire, and how unprepared at pres ent this body is to enact such additional legislation as, trust, will be carefully matured and duly enacted into law during the course of this congress.
 Gentlemen say there is danger, if the present bill becomes law. that we shall go to the gold standard. Why, Mr. Speaker, we have already gold standard, and have had since 1854, except during the period of disturbance caused by the war, when we were in the air and not upon any standard. Are not all our mon eys taken and kept at par with the gold dollarf The bullion value of the silver dollar is less than sixty cents, that of frac- tional silver coin, of nickels and coppers is still less, and the value of the material out of which our paper money is made is all most nothing, yet all are kept at par with gold. This is the standard at which they now are, not lower one. This, also, is the standard and unit expressly named in the law, and yet gentlemen continually speak of our .going' to gold standard
 Some say they want the bimetalism and free coinage we had before the war. What was that bimetalismY What was that free coinagef It was bimetal- ism under which we had no silver in use except fractional silver. Who ever saw a silver dollar before the war; never did. The few that were coined left the country because we required so much silver to be put into dollar that it was worth more as bullion than it was as coin. It want into the melting pot. Is that what you wantf We then considered the bullion value of silver and provided for it's coinage, but at ratio that prevented it from being coined Is that what gentlemen wantY
 prefer coinage law that will coin, and bimetallic arrangement that will be bi- metallic and not monometallic. No single nation ever has, and from the very nature of the case never will or ever can main tain what is called bimetallic stand ard of value It may have as we have a bimetallic basis. Indeed, We have a quadru- metallic basis, every element of which is now at the gold standard, where of course it will stay unless the world should come to what is termed inttrna- tional bimetalism, of which l shall not now speak or unless we from some cause change from the present standard to a different one.
 But, Mir. Speaker, what really concerns us is not the name or color, but the value of the standard. That is where the battle between debter and creditor is really joined, and either of them, if seeking an advant- age, cares but little for any feature that does not affect the matter of value. But with suitable ratio this value is regulated under one name as well as under an other by the amount of basic money, vi ether coined upon individual or upon government account, that there is in the country and in the world.
 It is also affected by all good credits What we want, then, is the largest possi bic use of silver as money consistent with prudence and fair dealing. In a dispute about methods and terms there seems tC me to be heated devotion to forms that obscures thought and tends greatly to de feat the very ends of those, like myself who are more especially concerned about justice in the standard and the actual use of the metals.
 have argued, Mir Speaker, that ths