Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1893-09-07
SHERMAN ON SILVER.
The Ohio Senator's Address on the Repeal
Bill.

assembled in the Senate chamber our
ing the present session listened 10 sen
ator Sherman's speech yesterday al'ei
noon on the repeal bill. He discussed
the whole financial question on the plane
of craftsmanship, and he set 1orth
with emphasis the story OF 'ne
Sherman act. He also broad
ened the discussion as to the
causes of the present disturbance by
taking rapid glance at the fiscal AFFAIRS
of the world. His argument for repeal
was not weakened by his tracing back
the causes of the present cOndltlon pe-
yond and independent OF the silver
purchase law. His speech all the way
through was remarkable one. 1t made
deep impression on the Senate, ana
that impression is likely to be lasting
one. He said in substance:
On one thing Congress and the people
were agreed, and that was that both golo
and silver should be continued in use as
had never gained foothold in the United
States. If senators wanted cheap money
and an advance in prices free coinage OF ST,
yer was the way to do it; but they shoulu
not call it bimetalism. | am not IN favor
of the free coinage of silver, and regard IL as
but another name for the monometallsm OF
silver, and 1 was only in favor OF the pur-
chase of silver for purposes OF coming Inc
President had set forth the decline IN me
value of silver, but had failed to give the
broader view of the causes Of that de-
cline he could have explained that
it was due to the fact that we were called
upon to pay our debts III gold. for tie
first time also in a number OF years the pal
ance Of trade was against us and we had 10
q,
'giving the devil his due" and am ready to
stand by the Sherman law, not as measure
in which took any special pride, TOR was
compelled to yield in order to prevent dls-
astrous legislation. But without this law
what would the country have done in
1891 and 1892 had it been called
upon then to meet the difficulties
now staggering us? l am not
new convert to the repeal of the
law and year ago L introduced
bill to suspend the operations OF the law;
1t was worded almost exactly, like that OF
Mr.. VOORHEES,. Why did not the Delnocra-
tic senators then see the dangers they now
see and come to the help of the Republicans
wien they sought to suspend the law?
Not a Democratic vote was had then and
Democrats must answer why. This IS 4
currency famine, not the fear that, the
money of the country is not good, and the
people should not be deceived as to the rea-
sons for the repeal. Thelaw was denounced
by the Democratic party as miserable
makeshift. 1t was maleshift and good
one, intended to prevent the ills growing
out of the free coinage of silver.
The Democratic party is now charged
with great responsibility, and warn them
that if they attempt to alter the existing
deeper distress than now exists. Taking it
for granted that the Sherman law would be
repealed what of the future? While not
the adviser of the Democratic party, am
entitled to give my opinion as aAl American
citizen. First of all we must preserve in
secure gold to maintain this parity,
the only way by which we can SUM
marily secure gold. The balance OF trade
and if such a condition should arise
the secretary of the treasury ought to- have
the authority to make the deficit good. All |
parties have heretofore given the secretaries |
this authority. The expectation of Amerl-
can product ought to be encouraged by leg
isation. The snrplus in the treasury, if !
there is one-and ! suppose there is, Ion /
Democratic senators say so-shOuld be /
coined and used for all legal purposes. l. /
do not believe in buying silver from our /
proceeding. If it is a profit it is an intrigue, /
if not a profit it is g fraud. l believe it a :
fraud.
Mr.. Sherman denied Mr.. Voorhees, !
statement that the act of 1873 was, a /
stealthy demonstration. Mr.. Noor- I
hees declared THAT nothing could be /
farther from his purpose and intentions
than to say aaa mnkind or disrespectfnl /
word about the senator from Ohio. (
That senator was Not in his mind at adj !
when he uttered those words. But as t
they were. disagreeable or offensive to 7
him he expressed his regret at having |
uttered them and declared himself ialr
capable of intlieting affront unprovoked !
on any gentleman In the Senate or else |
where. Mn. Sherman continued his I
speech, saying: +
l do not desire to say anything more ON /
the matter being entirely satisfied that |
what the Senator from Indiana had said /
was due to, his exubcrant eloquence. |
Laughter.J Inten3 now to produce the /
public recoroi and make the act of 1S7:, I
plain and clear, and to show that the whole |
proceeding was free from corruption and /
was honorable to Congress. And hereaite,, /
The addedin angry and excited tones1 when |
any man makes that imputation | will siam
ply say that lit is a falsehood; and | brand it
so now and then. There has never been [
any bill treer from any immoral or WRONG |
influence than the act of 1878; and to'sav !
that it was passed Surreptitiously is a. false |
hood and a Lie, by whoever uttered.
Mr.. Sherman devoted some time to |
an exposure of the falsehood of a. letter
written by some one who avowed him.
self an Anarchist, and who professeta to
repeat a statement supposed to- have
been made to HIM by Ernst Seytt as to
his having bribed Congress to pass the
law Of 1873. He declared that Mr.. Seyd
was as extreme a bimetallist as any man
within the sound of his voice.. and that
the statement of the obscure Anarchist |
was a lie made out Of whole. cloth. He
continued:
boldly avowed my connection with the
legislation of 1873, and say [alladine taunt- |
lngiy to Mr.: Stewart, of Nevadal that / would
not plead the baby act. The senator from
Nevada, representing as he did state of
o. 600 intelligent, active, industrious peo-
fnln iaahn rt1,l =, Il,