The state republican. (Jefferson City, Mo.) 1871-1896, 1893-09-07

otWutOF oNeTWdh-
Mr.. Sherman then proceeded TO discuss the
history Of the act that bears his name. He was
not in favor OF the free coinage OF silver. and
regarded It as but another name for the mono
metallism of silver, anil was only In favor OF
the purchase Of silver for purposes 81 coming.
The conferees OF tho two houses agreed ur6n
their differences, md In that AGREEMENT
secured the repeal OF the bland. Allison
act. Mr.. sherman reminded senators when
they criticised the law TINT was named after
him, they should remember that this law now
on the statute hooks was far better than either
the house ill or that passed by the senate.
The president had, Mr.. Sherman said, set
forth the decline in tho value Of silver, but
failed to give the causes OF the decline. Had
he taken q broader view OF the causes
OF that decline he could have explained II oil.
" Was due. Mr.. Sherman said. to the fact that
we were called upon to pay our debts, debts
payable In gold. England was the gfcit cred.
itor country, and We should neither be ashamed
OF nor hate het; We are her children and par
take much OF the Characteristic OF the parent
stock. Enrland's losses In the Argentine Ro-
public had TO be made good, and she
returned our securities and demanded the
gold needed 10 save her own institu-
tions from going down For the first time also
In n number of years the balance OF trade was
against us, and we had to make the difference
good. After discussing other matters contrib.
uttng to the present condition, Mr.. Sherman
declared that an erroneous impression had
been created when 1t was claimed that the Shcr.
man law was the cause OF all the trouble.
end this, he said. with all due Difference to
Mr.. Cleveland. Still the fact was that congress
must deal with a situation and not a measure.
He believed in giving the devil his DUE and
was ready to stand ny the law. not as a meas.
ure in which he took any special pride, for he
was compelled To yield in order to prevent
disastrous legislation. without this law What
ntt1 Ia = -Rt., -, Mara tAA. L. tnn - sags,
had IL been called upon them 10 meet the
difficulties nov staggering us. He was not q
new convert to the repeal OF the law. but q year
Ago he had introduced q bill to suspend the
operations of the law. II was worded almost
exactly like that OF Mr.. Voorhees,. Why did
not the democratic senators then see the dan
gers they now see, and come to the help OF the
republicans when they sought to suspend the
law Not n democratic vote was had then. and
democrats must answer why.
This very currency anime was not through
feai that the money OF the country was not
good, and the people should not be deceived as
to the reasons for the repeal. Mr.. Sherman
did not Relieve the repeal of the law would In
any considerable degree relieve the country
from the existing stagnation. Its repeal
would ease the money market from the
dreaded fear of the free coinage OF
silver. Tho law was denounced by
the democratic party rs q miserable
~ "h' " hllh - EOOl
one; 1t tended to prevent the ills growing out OF
the free coinage OF silver. The democratic
party was now charged with a great response
hility and Mr.. Sherman warned them that II
they attempted to alter the existing tariff laws
they would plunge the country into deeper dis
trcss than now exists.
Taking 1t for granted that the Sherman law
would be repealed, what OF the future' Mr..
sherman. while not the adviser OF the Demo
cratic party. said he was entitled to give his
opinion 0s an American citizen. First OF all
we must preserve intact the parity of all our
money 1t might lie necessary to issue our
securities to secure gold to maintain this
parity, the only way by which we can sum.
marilv secure gold,
AT this point OF his speech Mr.. Sherman dc.
waited from the direct path of his argument
reply TO and clear away the charges and asper.
sions made by senators ard others in connection
with his so.called act de nonetiZing silver In 1873.
md he confessed to some annoyance at
the statcmant made the other day by Mr..
Voorhees, that the action OF those who had
managed the legislation had been stealthy and
treacherous.
Mr.. voorhees, declared that nothing could be
farther from his purpose and intention than to
say nm unkind or disrcspectful word about the
senator from Ohio. That senator was not In
his mind when he uttere | those words. But as
they were disagrecable or offensive to him, he
expressed regret at having uttered them, and
de Jared himself incapable OF inficting an NJ.
ront unprovoked on any gentleman In the sen.
ato or elsewhere.
Mr.. Sherman said that certainly he did not
desire TO say anything on the matter, being
satisfied that what the senator from Indiana
had said was due to his exuberant eloQucnce.
lLaughterl He Intended now to produce the
pull lie record OF the matter and make the act
OF 1873 plain and clear and to show that the
whole pi oceeding was free from corruption,
and was honorable tn rOnnrpqa and heraaf tar ba
said, In angry and excited tones, when any mar
makes that tmputatlon l will simply say that
II is n falsehood, and | brand It so now. There
has never been any bill freer from wrong In.
Huence than the act OF 1873, and to say that It
was passed surreptltiously Is o falsehood and
a lie by whomever uttered.
Mr.. Sherman devoted some time to an ex.
posture OF the falschood OF q letter written by
someone who avowed himself as an anarchist
and who profcssed to repeat q statement sup.
posed to have been made to him by Mr.. Ernest
Seiad rs to having brihed congress to pass the
law of is73, lie declared that Mr.. Seiad was
an extreme Limetallist as any man within the
sound of his voice, and that the statement OF
the obs 'ure anarchist was a lie made out OF
whole cloth.
Mr.. Sherman hol lily avowcd his connection
with the legislation OF 1879, an said %(alluiin,
to Mr.. Stewart, OF NsvadaJ that he woull
not plead the baby act The senator from
Nevada representing, rs he did. 50,0))
intelligent, active. industrious people In
terestcd in the mining Of silver AMI gold,
ought to have known ut that time whether the
dollar OF the Daddy was dead and gone or
not" He quoted from a speech made by Mr..
Stewart In the senate In 1871 these words:
II want the standard gold, and no paper money
that is not re iecmabio In gold. by this process
we shall come TO q specie basis, and when the
lalorer shall receive his dollar Il shall hays
the same pIr ,has 4, power as a dollar OF goll
the universal 81, ndard OF the world. Every.
body knows that"
The citing OF these quotations. showing such
q remarkable change on the part of Mr.. Stew.
art, provoked general laughter at the expense
OF that senator, who looked somewhat Devil.
dered, but only strokod his long beard. Su g..
quenfiy, however, he promised to reply 10 Mr..
Shermrn on Friday next
MIR - rnr fo'lowe u Dits advantage over
the Nevada senator , y exhibiting Q newspaper
published In that state, one whole side OF
which was occupied with notices Of assessments
on silver mining stocRx. oil payable In United
States gold coin. Then he came back to the
main subject Of his speech. and said; II don't
think that the stoppago Of silver coinage was
the end OF silver. We have proved that the
mere purchasing Of silver by US on q de-
cfiuing market Ia m improvident use OF the
pu' lie money and ought 10 be abandoned. at
least suspended until q time which may come,
when by nm international agreement or ty
some provision Of law, we NAV guard against
the possibility Of coming TO n single standard
OF silver. That can lie done. What do we do
now Tut simply stop the purchase Of silyerl
We don't say when we will renew it again.
we simply say that now. In view OF the posi-
bthty OF u panic, IL would be unwise Tor US to
waite either our credit or our money In
buying THAI which must lie in the
cellars OF the treasury. Il was In
order 70 give assurance that 20 90
not intend 70 destroy the Silver rsIainyiudustsy
Of iha NAal fhsA NJ ma into Az Mi s~s~.xsx