Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-08-27

| fhc unreasonable boarding OF currency
! throughout the country. In this connsc-
| lion Sir. Reed raid a compliment 90
| lie uauagprs Of banks generally saying
that In his judgment they were doing an
| honorIhie and patriotic work and were
| the rnainsiay u the country against
fniluro aud future disaster
Tho second reason WAS that only by
repeal could the nation hope 70 attract
foreign capital. without which il was
vain 10 hope for an upward turn Of the
| cOuutry's business. Mr.. Reed paid his
respects to the objection that tho pro-
posed repeal was q renewed deiuonetiza-
tion Of silTgr and chaIacterized the
charge that the law Of 1913 was d trick
as one Of the most sfupendods fabrici-
tons which ever existed In political life.
II there were any nppreeiable difference
| IN The value Of the two metals. even a.
much as OF 3 per cent the cheaper
| would drive ont the other as the history
| Of the United Siates showed. Upon the
assertion that the rspeai Of the sherman
| law would increase the burden Of the
| borrower, Mr.. Reed said there would
always be a borrowing aud lending world
| aud it is Of the fret Importance. not less
TO the lenief. that the laws on this
and injustice to both Glasses. IN con-
clusion Mr.. Reed said, after regretting
the delay Of action. I'VE stand in u
today.
"A representative Of the Democratic
| party, just chosen president OF the nited
States, finds himself p0wdies- IN bis first
great recommendation 10 biz own party.
Were he left 10 their tender Inercies,
the country would witness the sn sstncle
Of the president Of is choice orerihrown
by party charged with tho countrys
government What wonder that he ap-
paals 10 the patriotism Of another party,
Id rI Iaf
ed 70 10 vain. Never, ! say, IN vain.
The proudest part OF the proud record
OF the Republican party haf been rs
st7adfast devotion 70 the cause u sound
finance. What We were IN our days Of
victory. we are in our days OF defeat,
the chnupioa 9f true and solid finance
aud when the dHy comes, a. surely IL
VIII COME f0i us 10 lead this land back
TO the paths Of prosperity and fame
which were tr0dlen under Republican
rule for so many years, we shall take
back with MS our ancient glory undmmed
ly ndywfily, our ancient honor nnsullicd
by defeat
lie was also very impressive and
showed a marked Impression on the audi.
encc when speaking Of the banks With
his closing sentence loud and continued
applause burst ont from the Republican
side Of the chamber and from the gal.
leries. and even Democrats, an M
wOuted spectacle, contributed o share of
the applause.
Mr.. DE Almond was the next speaker,
having half 800 hour assigned 10 him.
lie opposed repeal. favored free coinage
and INDUCED In criticism upon the
secretary VI the treasury, going no higher
than % copy and follow the ruinous tiunn-
cial policy Of his predecessors. Had the
sherman law been properly executed a
parity would have been maintained.
Mr.. Williams Of Illinois opposed repeal
and contcndcd the Sherman law was not
responsible for the present panic. To rn-
peal the sherman act wuud De- 10 break
the last link OF the chain that bound
gold and silver together Tho people Of
the Democratic party were In favor Of tho
repeal of the Shprigan law by the enact
In.
Mr. Allen Of Mississippi said the coun-
try was W. but the remedy proposed was
not the proper one. lie would like to
not want To vote for u rom tly worse
th; the disease lie dil not propose TO
be- driven or bnllied into doing TINT
which IN liis humble Judgment would be
bad thing for the great masses OF The
people.
! BoURKB COCHRAN OF NEW
YORK
Then took the floor and addressed the
house. The remedy for the present condl-
ton Of things, he said, ought to be sought
for free from any spirit Of partisanship.
He could not agree that these periods of
depression were inscparnbie from the ad
yauccment Of civilization, but that each
was due TO Il specific cause which might
be readily discovered. Mr.. Cochran said
the platform Of the Democratic party did
not declare for the free coinage Of silver.
That attempt was made In the convention
by delegate from Colorado. to commit
the party to that principle, but It failed
| 10 secure ten votes ON the floor Of the
cons cntiou In support OF the proposition,
| Mr., Cochran said be stood upon the
| Democratic platform with both feet, and
| II was those who differed from him that
were trying 70 push bin OF. lie thcn
| devoted himself 90 historical resume OF
| financial legislation and asserted there
| was no Instance IN the history Of civilian
| ton where gold aud silver ever circulated
| side by side Mt any ratio IL was I'M
| possible that they should do 50,
| The fluctuations uf the values OF the
| two coins were sufficient TO constantly
| drive out thedenrer metal. and this, said
| Mr.. Cochran WAS an Inevitable result.
| France was lmpellcd 10 import SG0O'
| 100000 IN gold TO maintain the parity
| Of the silver which she coined. That was
|
| done II It had desired 10 maintain the
| parity VI the silver we have coined
Referring TO the assertion Of Mr., Bryan
that silver was still the basis Of the
| value Of the farmers products, Mr..
| Cochran inquired. III that be 81 why
| do you not give him the full value Of
| ~ You would give the farmer hi II
| grnins of pure silver while | should give
| him G3i IA grains" The lcbascment Of
coin as proposed Mr. Cochran said, would
| have the result OF reducing debts TO
the amount Of 40 per cent. The gentle
man from Nebraska tMr. Bryan as-
| snmcA the loss wOuld fall on the banks.
| Hut the fact was IN the very nature Of
| things the banks and corporations are
| the debtors Of the country and the
w0rkingmen the creditors Gentlemen
\ tell US gold has appreciated. | deuy IL,
said Nh Cochran. The Aldrich report
shows that never before IN the history
| ~ the world dld the lahorlng men Of
| America receive so much IN gold Tor
| hia labor. (Cheersl But the gentleman
from Nebraska and the genueman from
| Missouri propose by thor plans 10 make
| the bankers 0f New York alone,
| present Of S2i,0OOOO0 IN settlement Of
accounts With dopositors and 10 deprive
the laboring man Of 10 per cent OF the
value Of his work. COntinuing. Mir
| Cochran said, The trouble 10 this country
was no, due 20 a lack Of money but TO