The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-08-20
HOUSE ALONE TALKS SILVER
And Holds a Night Session to
Facilitate the Work.
McCrearey Says It Is the First Duty of
Congress to Repeal tho Sherman Act
and the Second to Let Free Coinsge
Alone For the Present-Its Third Duty
to Stand by the President

-
debate was resumed Immediately after
the reading Of the journal, and Nc.
Cfearey (Dem., KY took the floor in
advocacy Of the repeal of tho purchas-
ing clause of the Sherman act. An
extraordinary financial situation, he
said, had induced the people to convene
in Congress in extra session. It
mattered not how gentlemen might
differ in opinion as to what
had brought on the trouble which
now existed they all agreed that the
trouble was widespread, far reaching
and full OF psril to the whole countr,.
They agreed also that it was their duty
to find q remedy. 1t might be that the
Sherman act, sc. called, was the prime
cause Of the trouble. 1t might be that
fuctuation of silver in Europe, the
shrinkage of values in many parts of
the world and the failure of the Barring
Bros. had helped to bring about this
condition. He had voted against the
passage of the Sherman act That act
had been failure and colossal curse.
The purchasing clause of the bill should
be Immediately repealed. He was
IL.
Let Congress repeal the purchasing
clause and then enact other Legislation.
Today England hoped the United States
would adopt free coinage bill and
would come to a silver basis because
then she would get our $3.50, 900, 900 of
gold. The United States could not
afford to adopt free coinage policy
now. No country alone could maintain
such coinage. The only path to free
coinage was through international
agreement and the only way to reach
that path was to repeal the purchasing
clause of the Sherman act.
To an inquiry from Bland why the
international monetary conference had
postponed its meeting from May till No.
veuaber, McCreary replied that it had
been postponed in order to allow the
policy OF bimetallism to grow in Eng
land. 1t had been postponed in the
interest of bimetallists.
The first duty OF Congress was to act
without delay, repeal the purchasing
clause of the Sherman act. The second
was to- let free coinage alone for the
present. Its third duty was TO stand
by patriotic President in his efforts to
advance the prosperity of the people
and the welfare of the nation.
Catchings (Dem., Miss.) said that he
would vote for the unconditional repeal
of the purchasing clause OF the Sher-
man act, and he would vote against any
proposition directly or indirectly look
ing to the free coinage of silver in this
country at this tsme at any ratio that
could be suggested.
1t had been said that no Democrat
could vote against free coinage. He
was Democrat, his Democracy was as
good as that Of any man on this floor,
and he would not allow any man 20
challenge or question it. He stood by
every plank of the Chicago platform,
but that platform nowhere dem anded
the free coinage of silver at this time.
The United States was the greatest
nation on the face of the globe and con-
tanned the proudest people. Every
man who took silver dollar to-day
knew that great and proud people did
not intend to have it deprecated in
value. Every man who took silver
dollar knew that it would be redeemed
even If the Government had to issue
bonds to draw gold from other countries.
The silver dollars were obligations OF
the government, just as were the green
backs. To the Sherman act he at
tributed the present depression.
He contended that it was absolutely
impossible for this country, single
handed and alone, to drag down the
price of gold and enhance the price OF
silver.
Livingston concurred in the sentiment
expressed by the gentleman from Missis-
sippi that, in considering the question,
the Representatives should rise abovs
the party. On this subject there should
be no Republicans, no Democrats. no
Populists. He favored, ne said, bi.
metallism and the plain question now
presented was between single gold stan
dard and bimetallism.
the Sherman act as "cowardly make
Shift" A makeshift for what? for a
single gold standard? No. A makeshift
for the free coinage of silver. The bill
for the repeal of the purchasing clause
OF the Sherman act did not place the
Democratic party where the Chicago
platform proposed to leave it. He
denied the purchasing clause was re.
sponsible for the present financial and
business trouble.
He made the prediction that IL the
purchasing clause OF the Sherman act
were repealed, the price of products in
this country would not be increased
The gentleman fro Kentucky INC
Creary) had spoken in favor Of an inter.
national conference. Why not have an
interstate monetary conference? He
would hail with delight proposition
that the governor, the secretary
and the treasurer of every State
would be called together in Washington
there to discuss what was good for the
United States.
Richards (Dem., Ohio) believed
a
sttributing to the purchasing clause of
the Sherman bill the present business
depression. The House then, at o.
M took a racaaE till 9 n,clnnL