The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-08-27


against such ARRANGEMENTS. The dividing
lines wero the money powers of the East
with foreign backing against tho toiiing
masses OF the West and South.
williams OF Illinois opposed the repeal.
tie contended that the Sherman Law was
not responsible for the panic, though the
panic was the legitimate offspring OF the
republican party. The repeal of tho Sher-
man law would be TO break the last link
binding gold and silver. He was followed
by Allen OF Mississippi in opposition TO re-
peal in q speech full of humor.
BOURKE COCHRAN.
Cochran of New York was the nsxt
speaker. After some preliminary utter
ances, he said the democratic platform
did not declare for the free coinage OF si!.
yer. An attempt was made in tho con-
vention by o delegate from Colorado to
commit the party to that principle. but u
failed to secure 0voies. Colorado aud
Nevada were declaring the party was de-
parting from the platform in this matter.
II that 10 SO, why did those states take 10
the woods in the election of is92? II was
because tho states abandoned the demo-
cratic platform that Pence was elected
TO the house from Colorado. Cochran de.
ciareu bt was stautiuR bu tue pihtiufti
with both feet. He asserted. and defied
Bland TO prove otherwise, that there was
no instance in the history of civilization
where gold and silver circulated side by
side at any ratio. Fluctuations such as
now exist constantly drive out the dearer
metal. France had TO import six hundred
millions In gold TO maintain parity, and
the United States would have to do the
Ia. l. ....-
Cochran controverted the assertion OF
Bryan OF Nebraska, that silver regulates
the value of the farmers products, say
ing: II that is so why do you not give
him the full value of il? You would give
tho farmer Bly, grains of pure silver,
while would give him 65iI. The pro-
posed debasement OF coin would reduce
debts a. per cent. Bryan assumed
the loss would fall on tho banks,
but tho fact was banks aud corpora
tions were debtors to the country and the
workingmen the creditors. He denied
that gold had appreciated. Never before
did the laborng man of America receive
as much gold for his labor. Bland aud
Bryan propose in their plans To make tho
bankers Of New York present of ssl.-
O0J,0O in the settlement of accounts with
osposftofS 'bS
of as per cent. OF the value of his work.
Bryan. intcrrupting, asked IL that was
SO why New York banks denounced HIM
derly with them?
Cochran replied that the banks had
learned that i'm business aud politics hon.
este was the best policy. Cochran claimed
that business depressions are always
xIaln 10 tt.H Af fh.. .x.xr
or OF credit beyond the capacity Of
business interests to support. Tue
operation Of the Sherman law proves this.
1t increased the currency and now u
stringency follows. BANDS PROPOSE
tion to give 37l4 gaaihs of silver
for 65lL would be called rob-
bcry IL !, rela ted to wheat or corn. Tho
farmer suffered most in the depreciation
of prices under the Sherman law, aud IL
was strange that the farmer desired it's
continuance. Cochran spoke Of the unity
of interests of the whole country and said
the effects of scctionalisn, If on any basis,
would result i'm benefit TO no one. He
closed with an eloquent appeal for equity
and justice as a basis of governmental
policy. awaking a whirlwiud of applause
and cries of 'vote." The speaker wa 4
overwhelmed with congratulations on his
magnificent effort. The excitement oI
the floor was SO great that the speaker had
TO call on the officers of the honse to re-
store order.
wAH-IIoRsE BLAND
Bland then began the closing argument
on behalf of the silver men. Bland said
that 10 the gentleman from New York
Cochran, whose financial theories, were
tt,
of the stock exchange. would only 90 Z,
that country where hc had said were OBJ
taincd the agricultural products shippet
abroad in order TO bring back European
gold necessary to sustain the public
credit, he would understand why the gon
tleman and himself wcrc SO radically diff
ferent in their views. Ii was true, as tll,
gentleman said, it was to the products o.
the soil Of this country that the iiuancicri
of this government looked 10 bring bacl
the gold of Europe in order TO maintain
our present financial system.
Bland said all the dogmatic uttcrancc,
of the gentleman from New York, Cock
ran), werc made In tho face of histor,
and in the face of truth. lie (B.and) di,
not defend the Sherman law and ii b
could put In its place tho FREQ coinage o
l.
for its repeal. He saw no reason whatcye
for changing tho existing ratio. l6 TO !
| Tho production of silver and gold for Tia,
last hundred years had been at ratio o
about l5H to 1. and that was tho ratio o
silver coinage in diifycnt nations of tn
world. The propositions to be substitute
were for the free coinage of silver at an
OF the ratios fixed. That meant tho poo
pie should issue from their mints thci
own money and not let it be is
sued by the banks. So far as til
operations of tho Sherman bill werc coz
ccrncd the people issued their own none
under IL. And what harm, after all. du
the silver in the treasury do. Althoug
the Sherman act was not in confornii
with bimetallism. yet under 1t thirty @
forty million greenbacks year were pu
in circulation. He sent TO the clerk
:. desk and had read a dispatch IN the Ne,
York Erenusy Post as TO tho application q
pressure in favor OF the repeal OF III
Sherman act, the pressure suggested b,
ing a threat TO withhold credits from coui
try merchants. He denounced the ariicI,
and declared IL n notorious fact that I'll
people OF the South and West who ha
money on deposit in New York bauk