The Bessemer indicator., 1893-08-19
MR.. VEST DEFENDS COLORADO.
He Criticisea the President and Takes
an Unequivocai Position In Favor
of Free Coinage.


On the 14th Senator Vest of Missouri called
up his resolutian relative to maintaining the
parity between gold and silver and addressed
the Senate upon 1t.
Before beginning his speech In support Of
the resolution, Mr. Vest had read the declara-
tions In the Republican and Democratic plat
forms on the subject OF silver in order to
show that both parties were practically
agreed on that question. lie said that 1t was
time for the people of the United States to
know whether politics were a jugglc and a
fraud, or whether the solemn declarations OF
parties were worthy the condolences OF free
people.
Taking up the Sherman act, Mr.. Vest
spoke OF 1t as a houseless and homeless legis-
lative dog, with no one even to give 1t a bone
and without being able to find kennel In
which to hide Its dishonored head. And
nevertheless, he would vote against Its repeal
without a guarantee MS solemn as the great
necessity OF the people, that silver exist in
the United States a. money metal.
lie had been known the firm and un-
shrieking friend Of the President Of the
United States, and had In all his campaign
speeches In Missouri declared Mr.. Cleveland
to be a bimetalllst like himself, and that they
only differed in reference To the ratio He
had the right to make that statement because
Mr.. Cleveland had accepted the nomination
on platform which pledged the Democratic
party to bimetallism. But now 1t was certain
from the Presidents message that he certainly
meant that consideration of the ques ton Of
the free coinage of silver at any ratio was so
! impracticable that 1t did not need executive
notice.
In replying TO questions by Mr.. Gray OF
Delaware, Mr.. Vest asserted that any discus
sion on the subject would he imperfect and
unsatisfactory which did not admit, on both
sides, what was known to every intelligent
man, that II the volume of money was in
creased the prices OF commodities went up,
, and that II the volume OF money wa. de-
creased the prices OF commodities went down.
And SO, II one-hslf the coin currency OF the
country were stricken down, the burdens Of
those who owed money would be doubled and
the prices Of commodities would be put down
beyond computation. There was no Justice
to the debtor, who had made his contract un-
der the bimetalic system, to take away one
half Of the currency Of the country, and thus
take away more than one-half OF his property
No living man could Justify such legislation
Mr.. Vest spoke Of the bl-metalllsm of France
and declared that to-day the French people
are financially the first people in existence.
The French peasantry hoardcd their silver in
hve-franc pieces, and 40 In the United States
the colored men Of the South would hoard
silver dollars II they could get them. Why,
he asked, should not the people of the United
States float $500 900 600 Of silver In the country
instead Of being told that the country would
be shipwrecked II silver coinage should be
continued another day, 1t was not, he as
serted, the overproduction of silver that had
brought down its value. 1t WAS legislation
that had done lt-legislatlon in Germany and
the United States. How could 1t be expected
that silver would retain It's value when those
two great nations took away the monetary use
OF silver
With the resources and population Of the
United States 1t uAs only necessary for the
Uulted States to fix a policy and to stand by
1t. The trouble to-day was caused by the
open and sedulous inculcation of the idea that
the country was about to 60 TO the gold stand
ard and that the silver money OF the country
would be worthless.
Mr.. Vest spoke Of the unfortunate condi-
tion of the miners of the West, and said that
tDe someWnat uEaulhtlc femMk OF an ex-scna-
tor recently that In the extreme West the pco-
pie were crying for bread and that in New
York they were crying for gold, was literally
true.
Suppose said he, "that We were called
upon to-day to pass law stopping the facto-
ries Of New England, what protests would We
hear from that sectloni suppose We were
called upon to strike down the wheat culture
Of Dokots and OF the Red River Of the North,
would we not expect to bear protests against
iti II were hero from one Of the silver
producing states l would tight the dcmoneti-
xatIou Of silver ~ fought the fore bill, bs.
esuss II involvss Al thss tboss osopls NOD
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