Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-10-01
SPEARS ON THE REPEAL BILL,
TAvoRiNG 1T.
SAYS HE is A BlnETALLlST,
But WIN Not Follow the Double stan
dard Flag Into the Camp OF the
Monometarllsts-His Position DO
fined on the Great Question OF tho
Day.

The following is the full text of the
speech delivered In the senate by Hon,
Roger .. Mills ON the Sherman law re-
peal bill
Mr.. President; We have been con-
yencj In extraordinary session to con-
slider an extraordinary condition of pub
lie aiipirs. 1t seems little singular
that ii the midst Of abundance, with
the cOantry blessed with wealth IN al
It's varied forms, there should be dis
ttcss among many OF our peoro, bnt
II Is NJ. Money, the most subtle anu
potcnt luf al the agencies Of exchange
has, from some cause, become frightened
and hds retired from the channels OF
cOnfmcf'o. A. n necessary consequence
transportation hns been checked; produce
ton iil some departments OF Industry
has Afrn glacscued, cmploymclp has
been rdmccd, aud the rewards to which
labor IL entitled have fallen on. And to-
day, while we are discussing the imam
cial cohdiHon OF the country. large
part of our aO0ring people are discuss
ing the,uueston ~ Subsistence Tor Them
selves and those dependent on them,
There are various causes assigned for
this ubhippy condition. The president
M his message says TO us y Is chiriy
chnigeahe TO the sherman law of the
l4th Of ,luly, 1890. A very large part
who are employed In commercial pur-
suits concur with him in that opinion,
while another large par, have reached
different conclusion. But sir, there is
substantial concurrence OF opinion
among all classes. In congress and out
Of IL that the Sherman law is mn unwise
enactment which should ho removed
from the statute books of the nation.
The Democratic mcinbprs of both
branches Of congress said it was unwise
when they yoiel against RS passage,
and rOmain unchanged Ia their cnnvic-
lions 10 the present time The l,opubli.
can party who are respons lhie for Il,
say that 1t has ontliYed the purpose of
its enactment, and they are now ready
10 join US IN It's repeal. II, therefore,
we can unite In repeating an uNwise
| law. aud VI its repeal VIII result In re-
storing confidence to those engaged In
| conducting onr commerce md IN the re-
| vlyal of business activity. we viii he IN
/ the discharge Of the highest pntrioHc
| duty to remove II from the statute books
as spcellly as possible
The president In his message calls onr
| attention 10 the provisions Of the law.
| that n requires the secretary of tho
| treasury 70 purchase monthly four aud
a half million ounces of silver bullion;
| that this bullion IL to be paid for by an
| issue Of treasury notes reicrmnble In
| gold or silver coin. az the discretion Of
| the secretary Of the treasury; that said
| notes are To- be roissucd when redeemed
and kept as part Of the permanent
| circulation Of the country. The law al
| ~ charges the secretary to use the dis
! crolion c0ntded to him IN rrdcemng
| these notes, 40 as to maintain the cstab-
lished policy OF the United States TO pre-
serve the parity Of the two metals at The
| present ratio, or such MS may be pro-
yidod by law.
This Requirement Of law limits the dis.
/ U4lsfffiHt ~ tho a. ttl
him 50 10 use the power given TO him
as that the two metals shall remain IN
| our circulation aud our standard of ynlne
he maintained and secured. He informs
us that NJ 10 The 18th Of July last moro
| than Sti7.OlOON0 of these notes had
been rcissucd. and that between the LIST
Of May, 1892. and Tho 10Th Of July,
1893 iifty-four millions of these notes
hnr been issued aud foriy-nne millions
had been redeemed IN gold. He ;clis US
that gold. the essential instrument r.
quired by the secretary 10 discharge the
trust confidcd 10 him by law to keep tho
metals at par. Il leaving the treasury
that between July. 1870. mud July. 1893,
the gold IN the treasury decreased more
than s132,O0OO00 whi'e the silver coin
for the same period Increased more than
one hundred and foriy-sercn millions,
Not only IL the gold leaving the treas
ury, hut he calls to our attention the
fact that II Is leaving the country. aud
that during tho last fiscal year the cx-
cess q EXPORTS of gold over It's imports
was SST.OOO,O00.
With this condition confronting us he
says. and well says:
Gold and silver must part company
and the government must fail In It's es-
tablishcJ policy TO maintain the two
metals on a parity with each, other.
rency greatly deprecated according 10
The standard Of the commercial world
We could no longer claim place among
nations Of the iirst class, nor could our
government claim q performance Of its
| obligation, 40 far rs such an obligation
for the use II the people the best and
safst money.
Here Is language as clear and as ex-
plicit as can be written. HAT II the
present condition continues ''thc cstal-
lshed policy of parity must fail; TINT
dream. and silver Inonomeiallism must
come In It's stead.
The president has WARNED congress
and the country against the insldiOus
approach OF m0noineiallisiu, ani thai
! Ia It's very worst fOrin--inonomcinlllsln OF
the deprecated metal. Ia the face OF
this warning. the president has been de
nOunced by persons claiming 20 be Demo
Gratis ns mOnOuiciallist. II has been
said IN This debate that We stand face
I 10 lhft VIII tnF lnrut VI N'AN'tAiHnNl
| against the single gold standard. Tie
;. statement Of the Issue Is not correct
The ISSUE Is bimeta,lisn against single
silver standard. and the Issue IL not one
made by the president. IL Is aii Issue
made by existing conditions and the Is.
sue 80 made Is Que for congress aad Tho
country 70 determine. II the two metals
are to be kept Of par IN our circulation
the sherman Inv must be repealed. II
I iiie silver standard u 20 b introduced
and our gold standard and gold circu
| lniIon n 10 be expelled. then the Shcr
man law should be retained
The president has called u together
and pointed our the peril to the estab
disrsfrops consequences 70 How from ii,
expulsion, and yet be i arraigned be
fore the country as 81 enemy Of b.
metal'ism and eoin inpnoinetnllist
Raffsries have been planted within the
lines n Inc Dsnocrntic encampmenl
with their guns shoticd 70 ihe lips viii
gra5e aud canister and their mueller
rf%l'.. IT,. al hia uilutts,faff.. -.