The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1893-08-31
REED SPEAKS.
He Goes on Record for the Repeal Of
the Sherman Law.
The One Great Cause of Our Financial
Troubles Is the "Undiscoverable Cncer-
tainity" of What the Democratic
Party Will DO With the Tariff.

WASHINGTON, Aug. 2s. I'm the house
Saturday Mr.. Reed, of Maine, spoke on
the silver question. There was breath
less silence during the delivery. Fol-
lowing is a synopsis of his remarlls:
In beginning Mr. Reed confessed doubts Of
the wisdom OF the house to deal satisfac torily
with the question before 1t, but expressed his
comfort at being able to fall back upon the
vel established belief in the wisdom OF the de-
cisions of congress Crisises like the present he
said, were inseparable accompaniments of all
human progress, which is series OF upward
starts and of falls of almost proportionate
length. The former may be characterized in q
word, 'conldence:" the latter in another word,
"distrust"
These fluctuations occur almost smultane-
ously, always sympatheticaly. the world over,
so closely is business allied by the te egraph
and railroad Because of the fact that this
drain of gold from the United States since the
passage OF the Sherman law, in ls9J, carried out
of the country amount equal to the value of
the purchases of silver under the law, people
saw in it the cause of the loss of the gold, and
distrust was engendered, and sc lson of hoard.
ing and depression set in, and to-day the country
is suffering all the calamities OF q restricted
| circulation in the midst of an abundant supply
of money.
"Tne underlying cause of the present condi-
ton of affairs is: Az the last election the demo
cratic party was brought into power by cur
ious combination of circumstances~as, the re-
suit Of a hundred causes, not with careful and
candid deliberate but as the result, in large
measure, of the apathy of the American people.
The vote shows what declare. and the reco-
lection of every Individual to whom 1 am speak
ing can be safely appealed to- While this thing
has not been specially manifest during this dis
cusson, while there has been little talk with re-
gard to it, nevertheless TIE consciousness of
this fact uuderlies our entire situation.
What the democratic party proposes to do
with the power which is in their hands, nobody
can say They do not even know themselves: and
hence they are not able to impart the knowl-
edge to others. For my part, do not expect
the democratic party 10 be utterly bad do
not believe they will be permitted to be so If
they should desire.
such is the restraining influence of the peo
pie, even after election, that l believe that
through all the DISCUSSES through all the masks
which this election has thrown over the wishes
of the people, nevertheless those wishes will be
carried out But at this present moment no
man can know what will be the result of the
action of this congress upon the manufacturers
of this country.
II will not undertake to dwell at this present
time, for do not want to confuse the issue,
upon those unfortunate parts of the democratic
program which are at present in abeyance, like
the establishment of state banks, and other
financial measures which we may possibly
have 10 struggle with. can characterize in a
single phrase the cause Of the present condi
tion OF affairs. 1t is the undiscoverable uncer-
tanty of the future of both the currency ques
tions, and the questions of protection and
revenue tariff.
1T will be seen from what have said that
do not regard the Sherman act as, in itself
alone, responsible tor our present condition Of
affairs that believe that the cause of our pres
ent disaster underlie that; tina. the necessary
stoppage Of hundreds and thousands of millions
all over this country is at the bottom Of dis
aster. Nevertheless, do believe that the Sher
man act, with the accumulation of silver in the
treasury, was the earliest indicator of the dis
aster which we are approaching, and that it has
played a part not entirely unfortunate in warn
ing us that we can be saved from still further
| misfortune and doubt.
Referring then 10 the new political conditions
which exist, Mr.. Reed said ut is perfectly
true that the democratic party is RESPONSIBLE
for wha ever occurs in the future, and what
ever does not occur They have the president,
they have an enormous majority in the house Of
representatives, and they have the senate to
themselves
Passing then to the consideration OF the ques.
ton OF repeal, he said, that while he was in fa-
vor of it, he did mol think it would be an imme,
date cause of a revival of TIE prosperity of tho
country Nevertheless he would vote for re
peal because whether justly or not the Sher.
man law is believed tC he the cause OF the uI
reasonable boarding OF currency Throughout.
the country
is the pathway OF duty? The unconditional re-
peal: That will either give relief or not If not
then we must try something else ard the soon
-er the better.
I'VE stand in a very peculiar position, we re-
publicans to-day The representative of the
democratic party, just chosen president of the
United States, finds himself powericss in his
first great recommendation to his own party.
Were he left to its tender merces the country
would witness the spectacle OF the
president OF its choice overthi own
by the party charged with this country s
government What wonder, thea. that he APP
peals TO the patriotism OF another party whose
patriotism has never been appealed to in vain!
Never say in vain the proudest part of
the proud record OF the republican part5 has
been its steadfast devotion TO the cause of
sound finance When this country was tempted
to nay it's bonds in deprecia;ed money, the re-
publican party responded with loud acclaim 10
that noble sentiment of Gen. Hawley that every
bond was as sacred as soldiers grave 1t
cost US hard fighting and sore struggle, but
the credit of this country has superior in
the world.
when the same arguments heard to-day
were heard Is years ago sounding the praises
of a deprecated currency and proclaiming the
glories of fiat money, the party OF Abraham
Lincoln marched steadily toward specie pay
ment and prosperity. What we were in our
days of victory we are in our days of defeat,
champions OF true ana solid finance and when
the day comes, as it surely will come for us to
lead this land back 10 the paths of prosperity
and fame which were trodden under republican
rule for so many years shall take back with
US ancient glory undimmcd by adversity
our ancient honor unsullied by defeat"
Citizen Marines Take a Cruise.
NEW YORK. Aug 2S-The New York