The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-12

so antagonistic that they cannot exist at
the same time. but they were met now
with the suggestion that we legislate a
plecemeal repeal of the Sherman law and
take our chances in securing anything il
its place, which shall meet the pledge OF
the platform to coin both silver and gold.
''This is because g panic is upon us.
The voting masses of the country may
become panic stricken on election day.
am afraid those, who are like the gentle
man from Indiana, will feel the force OF
that panic.'
Mr.. Bland sketched briefly the history
OF the financial legislation of recent years
and asserted that the same cry of ssgoing
to a silver basis'' had been raised against
the bill OF 1878, With which his name had
been connected. He sent to the clerks
desk and had read an extract from the re-
port of the British parliamentary COM
mlttee on Indian currency to the effect
that in its opinion, the repeal of the
Sherman purchasing act would be fol-
lowed by further depreciation in the price
or silver, 'and we are deliberately asked
here" continued Bland, ''to vote to
bring about a decrease of Is cents an
ounce in the price of silver before provid-
ing for the restoration of its coinage. No
man can defend that vote before his con-
stituency. who is in favor of free coin
age.'2
Upon the question of ratio, he argued
in favor of is to l.. He said elf the United
States would maintain the parity of gold
and silver on that ratio the world would
buy our products. We have property to
sell and should induce purchasers to
come. France maintained gold and sill
yer at parity at ratio of 151s to for
seventy years, because she had property
to sell. If we do this, western Europe
must come to our standard.
L l. l. L l. L.
maintain the parity of the two metals
all over the world. That was proof that
the government of the United States could
do SO at the ratio of is to /. If Europe re-
fuse to accept that ratio, the effect would
be to divert from Europe all the trade of
every silver producing country In the
world. Could England withstand
this withdrawal of trade? Certainly
not. 1t vas bi-metailism that
made the manufacturers OF England
SO strong and prosperous. Western
Europe would have to come to the Amer-
lean standard or abandon its commerce
with the United States and with all civil
lied countries. The money requirements
of the United States, with the wealth, in
dustry and energy OF its people, were
equal to those of England, France and
Germany combined, and that the whole
civilized world would have to look to this
"And YETI said he with vehemence,
1--WE are asked here today to lay the
bloody hand of confiscation on millions
of our population in order TO satisfy the
greed of England. Will Congress do it?
Will you trample down the interests of
your own people and destroy the value of
one of the precious metals simply to
crafty the greed Of Wall street. the mere
agent of Lombard street? 1t cannot. it
shall not ha douet rApplause I
Speaking for the mass OF the peo'
pie of the Mississippi valley and
of the people west of it, say you shall
not do it, Erenewed appiause] and any
body or any party that undertakes to do
1T will, in Gods name be trampled, as it
ought to be, in the dust of condemnation
now and in the future. CONTINUED ap-
Democrat, but yet as an American
above Democracy" [Cheers.] Here
Bland dramatically spoke the words at the
opening OF this dispatch. In conclusion,
Mr.. Bland said, addressing his words to the
eastern Democrats, SIT you demonetize
silver the responsibility will be yours,
not ours.' [Applause.
Mr.. Pence fPopuIiSt-.of ColoradO) was
the next speaker and with his opening
sentences he attracted the close attention
of the house and retained it to the end.
No other man has succeeded in so i'm
pressing himself upon the favorable con-
sideration and his associates on the floor
at such an early period of his member
ship. Referring to Mr.. Raynor's re-
| marks as to the government acting the
part of pawn broker for the silver mines
OF Colorado and Nevada he said:
at might be that the gentleman knows
more of the pawn brolxing business than
he (Pence) did. OF it might be on
account of the practice of the
treasury department to jew down
the men who brought silver there to sell
because il was now beyond question that
such was the policy of the department.
All the reasons assigned for Democratic
success but one. were incorrect. 1t was
because it had declared unequivocally for
reconciliation of silver that it had sue
ceeded. 1t was not his purpose to follow
up the evolutions of political parties.
Elected last fall by people brave,
buoyant, and hopeful, he knew their in :
dustries had been FRUSTRATED by the course
of the past two administrations, by the
base surrender of those who had been
elected on silver platform and on silver
promises"
Mr.. Wheeler, of Alabama, closed the
discussion for the day with plea for q
larger volume OF currency. and then the
House adjourned.