Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-09-09

in complete accord in financial matters.
Free coinage by separate act, he said was
impossible, as the president would un.
doubtedlv veto such measure Any
man who vouched for Mr. Cleveland as
n bimetallist would vouch for the man
| in the moon why not act now on the whole
| financial question? If this should pass and sill
| yer be, as ii must absolutely dethroned and de-
| graded, he knew OF no reason why any senator
who believed in free coinage should ever cast
another vote in favor OF protection in any form.
| He had demonstrated q few days ago the folly |
of the statement that the repeal of the Sher-
] man act would restore confidence. This was a |
| bankers panic, and IL you asked a banker |
| to-day how the repeal was to restore conf |
| dence he could not tell you 1t seemed un. |
accountable that in panic times banks should
not desire an increased volume of the money. |
| Their plan was, however, after repeal to ask |
| for the issue of 900 of gold bonds, and |
| they had good reason to believe that com |
| placent finance committee would authorize |
| such bill
The people of the far northwest favored the
| resumption OF free silver coinage because they
believed in bimetallism. They were not intia-
| toniStS; they did not advocate HAT money. They
| believed that as Senator Jones had happily put
It, the rude obstacles which nature had inter.
posed offer better safeguard for the people than
the wisdom or unwisdom of their rulers They
opposed the single standard because there was
not enough gold to do the business of the world
and furnish its inhabitants with the currency
they needed. Twenty years experience had
emphasized the experience of centuries Sill
yer had not deprecated, but gold had appreci-
ated. ,...
The question as TO whether silver should
be demonetized by this bill national
and not local. II he represented any other
section with his knowledge OF the possi-
bilities of the great west he would be
equally tenacious for the preservation of
the white metal as a standard OF value. No
man removed from the money centers and real
izng the illimitable resources of this republic
and its constantly increasing needs would ever
stand for the contraction OF q currency already
insufficient
There could be no stronger bulwarli Of coun-
try's safety than that she produce her own
coin for her own people and is not
dependent for IL foreign nations II
the mining states alone were to suffer by un-
conditional repeal they would suffer with
out word in the interest OF a mistaken policy
for the public good; but there was no section of
the country that was not likewise being de-
voted to disaster and impoverishment
II the contest for the people was to be won 1t
; must be because against the selfish demands of
, the east was arrayed the united votes of the
| south and the west They were standing
! together Jon this great question to the
common country from greater suffering
and impoverishment than even the horrors Of
I war could inhict, and by their united votes TO
e maintain1not alone the standard of both gold
t and silver, contempla ted by the constitution and
; consecrated by centuries of usage, but to main
l tain as well o standard of American indepen'
g dence and American manhood
Mr.. Canery dem, La) delivered his maiden
speech and advocated the unconditional repeal
q of the purchasing clauses of the Sherman act
, He warned the senator from Colorado (Mr. VOL
cotp that II he expected to smile away
the serious money troubles OF the country
as Cervantes had laughed away chivary
. and romance from Spain he was doomed
to signal failure The whole country Mr.,
Caffery said was face to face with a financial
1 situation unprecedented in any age or in any
> | country. With $4,000 10000 OF wealth; with
u factory and farm overhowing the country with
) fabric and food with banks entirely solvent
" and firms entirely prosperous; with people
u blessed by Providence beyond the measure OF
/ blessings bestowed other lands and other
people, they were suddenly arrested in the
pursuit of wealth and paralyzed in the
y midst of activity. Deposits were drawn from
Il the banks; investors abstaued from new en-
terprises and discontinued old ones banks
II were closed with safes full OF assets and
d business men suspended with stores full Of
u goods. The time for the moving of crops was
near at hand and the farmer found a con
II ges ted money market The laborer was paiC
u with promises TO pay, and the employer with
T. u sufficient bank account could not pay his
W baker or his butcher. Men were thrown ou
N of employment by thousands, and already was
ri heard in the distance the tramp of the army Of
unemployed turning toward the capital, ami
n mated by vague hope of relief Cotton would
Is be sold abroad for gold prices and paid for II
|
III discount for fuctuation The United State.
r would sell in gold market and buy in n silve
market Beside the embarrassments and diff
fcultes of domestic exchange would be intol
lg erable.
On the LIST Mr. Vance dem. y. c. spok,
" against the repeal bill He said the effect upol
IT, the condition of mankind which would follow
We the destruction OF half the currency OF tn
ne world-amounting in the aggregate to 81 500
ne 900 OOO-it would be impossible accurately I
hn pf aGt on ia
Id been going quietly since 1873 and its resul
Ir is seen in prices lower in many things than ha
Id ever been known in the memory OF man The re
he peal Of the law without any substitute meant tn
he end of silver money for this generation, unles
ee a revolution of the people should restore it, a
er il did during the fraudulent characterization c
he 1873 Let no man doubt that this movemen
is for the repeal OF the Sherman act was the re
Sc suit OF q conspiracy among the money-holder
go OF the world Our own secretary OF the treasur
at has said so. 1t had been repeatedly announce
at in the British house OF commons and nowher
denied that the intent of this combination wa
ch to increase the value of gold in the hands
u.s. those who held ii, and increase the value
Oh all securities by making them paynbl
en- in gold. The method of the attack was by tn
ew creation of panic Some foreigners believe
a the cry that we intended to go to n silver bas
at and sent back some of securities, ana III
ng clamor that began in u false pretense ended
We u howl of real terror. Never was there MOI
10 senseless clamor or more criminal disturOanC
ID of public confidence II the Sherman law sci
to out gold it surely brought it back If not whit
mt made IL return? The fact that in the midst
nd this clamor our resources are SO great as to /
he able to check the outflow of gold and TO tur
on the tide in our direction ought to restore co
ds, fdence TO every man whose confidence Is wort
ey securing.
ht' When the democratic platform denounced Il
led Sherman act as 'cowardly makeshift did
to mean makeshift for free coinage OF silver
at the use of gold-a makeshift for bimetallism
US metailismg If The trainers of that plar
res meant that IL was n cowardly makeshtft for II
lks free coinage of silver not this bill for its
1t peal, without line in its place, greater COZ
ted ard and worse makcshift? Ifit was meant tn
md il was a cowardly makeshift for gold monome
VS. allism was not the language OF the platform
ore self .oth n cowardly ana a living malieshift 4
un' the truth, Finally II the language OF the pla
to form taken altogether meant only that we we
,ey -, t..,at,.. A., -,