Daily Texarkana Democrat., 1893-08-19
SILVER LEGISLATION.
Congressional Action on the All I'M
portant Subject Foreshadowed.

portant Subject Foreshadowed.
We publish herewith an article from
the editorial columns of the Washing
ton Post, an opposition organ, whicl
presents the fairest, most reasonable
and practical exposition of the silvel
question, as it now stands before th'
national Congress and the probable
action thereon by said Congress, it hai
yet been our good fortune to read
The article in question was sent us by
our distinguished Representative il
Congress, Hon. Thos. c. McRae, to-
gether with the following comment
thereon:
WASHINGTON, D. c., Aug. Is.
EDITOR DEMOCRAT -
| send you herewith a copy of the
Washington Post, and call your atten
tion to Its editorial, "The True Situa
tion." l think it very fair statement
of the situation. Your friend
THos. G. MCRAE
The article in question reads, in
part, as follows:
The Post proposes this morning to
take issue with the general belief re.
garding financial legislation. Fol
some time past determined effort
has been made on the part of those
with whom the wish is father to the
thought to create the impression that
the purchasing clause of the Sherman
act could and would be repealed un.
conditionally.
1t is best to meet the situation
squarely and without evasion. The
truth is not always palatable; it may
not be always a polite thing to make
known, and yet, when the country is
confronted as it is today with CON.
dition of extreme danger, 1t would
seem as If the time for temporizing
had passed.
The purchasing clause of the Sher-
man law cannot and will not be un.
conditionally repealed.
This is absolutely true SO far as the
United States Senate is concerned II
is not as likely to prove true of the
House of Representatives
1t is in the Senate, however, that al
insurmountable barrier has been rails.
ed against unconditional repeal. In
this body the friends of silver in both
parties stand shoulder to shoulder
alert, absolutely Indifferent to pressure
from any source, and with the con-
sciousness that their constituencies are
behind them regardless of party. With
rules that allow indefinite debate the
Senate is a stronghold for determin.
ed minority. A canvass of the mem.
bers of this body shows that major
ity is against unconditional repeal
This is not newspaper canvass, has
tily and crudely made by representa-
tives of the press poorly equipped fol
such important work, but an inquiry
instituted by Senators representing al
shades Of belief. Senator Vest, thar
whom no Senator has had more fire..
quent conferences with Mr.. Cleveland
admits that there is majority Of
eight in the Senate against uncondi.
tional repeal.
With objections, therefore, to every
proposition yet advanced, the silver
men, nevertheless, will agree to one
compromise. They ask free coinage
at an increased ratio, and they pro
pose to block the way of all other leg,
islation.
This is the real situation. 1t may
be unreasonable and unpatrioticin in the
eyes Of the Eastern men, but 1t mus
be met. 1t is fact which the country
must know sooner or later, and thu
sooner it is known and appreciated
the better 1t will be for all. 4se
The DEMOCRAT has all along con
tended that a Democratic congress-
would not Internationally repeal the
Sherman law, thus demonetising sill
yer, and we are still of this opinion
But the present ratio Should not bt
disturbed. The country wants NJ
"cart wheep silver dollars; it is the
government stamp which makes mon
ey at last, and even at the proposed
increased ratio, its intrinsic valu,
would not without this stamp
make it worth as much as gold dol.
lar. M