Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-08-25

lie Loses an Opportunity to Make Speech
ami Tistc1~ 60 The Kpn>a, Man, Who
Presents an Object Lc,snn-r.Hce Proves
Very ruu@,nt Orator snd Raise The
Laugh un NrCrrpuy. Byuum. and Voor-
hees-CapitNI City Items.
WAsHINGToN, AuE. 15-PefIer supplied
TIE senate contribution 20 silver literature
yesterday by the grace Of Stewards eNce.s
OF courtesy. Stewart had the foor, ii be-
ing sen him by The chair when appealed
TO. but coUrtcous,y -si1 Le would yielI To
Peffer-wh0 had claimed ,he ioOr-if hede-
sirea very much 10 address the senate
a; once. The chair, supnosiug that Stew
art had absolutely yielded, then recognized
PETER and he 7ro,e Ged 10 speak for three
hours. and was followed Iv Allen, an
other Popuiis;. stewart. consequently.
die no, speak at all. but vii. 40 doubt suc-
coed better the next time be wants 70 de-
liver an address.
The Panic and the Tarin.
PETER first charged that the financial
trouble was caused by practical treason
or the part OF class which he hoped
would be relieved from the responsibility
of stealing from the people. Abiding to
the suggestion made by pro;ecjionists
that fear ~ 10 changes in the tariff had
much 10 DO with the financial panic he
asked what fears h4d the farmers. me-
chanics OF The clerks Of the country that
manufacturing establishments were II
danger from the present administration
Hawley suggested the case OF a mann
featuring town where projected new con
struc;ioas were stopped by 4 fear OF tariff
changes, and asked " ether the me
chanic- O.. such a town who had expected
70 -ct work were not interested in the
matter.
Want of Orders the Trouble.
PETER replied that whenever a manufac-
turing establishment really closed because
OF any fear Of tamperiuE with the tariff
he would answer the senator's question.
He did not believe tia; there was one such
case il @ thousand lie Lad no doubt that
there were great many cases where men
did nos proceed with projected enterprises
because they feared that they would not
receive the protection now afforded them.
But be insisted that now, and for the last
half dozen years. the failuresof mRnufac-
turing establishments did not come IRON
any prospective tariff policy, but from
want Of orders This meant. said PETER.
want az money, and this indicated the re.
II iu.rr Of his argument-thar free coin
age would supply the money.
sixteen to one or Nothing.
He declared himselfin favor of free and
unlimited coinage OF silver, 10 to I. that
or nothing" lie had no compromise to Of
fer and would accept none. lie went on
to argue that it was the government
mintage that gave the legal tender quail
ty 70 gold, ~ well as TO silver, and he H.
Illustrated his argument by the exhibit OF
a gold eagle and bar of gold of exactly
the same weight and purity The eagle
was legal tender in payment OF all debts,
but the bar was not. why is it?" he
said. that this coin is money and that
this bar Is mott" He wished t. hold I'D
the bar TO view, but Ito the amazement Of
the senate) he could not lay his hand on it.
81 do not know were the bar is" he said.
with an air Of surprise.
Fiat Does the Business
lie found il in a moment and said that
the coin was money and that the bar was
a commodity, and that, therefore they
were not Of equal value. The coin was
worth 80 and the bar was worth only
g.. so. "The coin is fiat money. The coin
has on its face ten dollars, and there is no
other way of keeping its value but
through the forms Of law" PETER then
went on 20 criticise Voorhees, for what he
called his political apostacy