The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-09-13
DEMOCRATS OF GEORGIA
ENTERTAINED BY SPEA KER
CRISP AND SECRETARY SMITH.
Speaker Crisp Reviews the Work Of the
Fifty.third Congress on the Tariff
Law, While Secretary smith
Deals in National
Finances.

the speeches of Speaker Crisp, review
inv the work of congress, and Of Sec
retary Hoke Smith, against the free
coinage of silver. Speaker Crisp de-
clared his personal preference for thf
free coinage of silver. Much enthusi'
assn was displayed.
Sneake- Crisp spoke rs follows:
when the Fitty-third congress met
in August OF last year it was confronted
with difficulties which seemed almost
iusnrmountable. Trade was paralyzed,
manufacturing had almost ceased,
Ia nor was idle, our baking institu>
lions we're failing and confidence, life
and soul OF commerce was utterly de-
stroved, AS far as this deplorable
condition was attributed to Legislation,
the Republican party was responsible;
For more than 30 years tbs party had
made our financial aud economical
laws. Until the meeting Of tue Fifty
third congress the Democracy was
without power. The conditions which
confronted us, while not wholly, was
very largely due to evil legislation. In
1873 the free coinage of silver had been
discontinued and gold became the
standard of value In 1873 partial
coinage was resumed. In 1890 this
law was repealed and soon thereafter
coinage of silver practically ceased
These acts of the Republican party
resulted in so lessening the volume Of
money of final redemption as to de
crease the price of all commodities,
for the increase of the burdens of all
debtors, and impair the confidence Of
the people in the power of the govern
ment, and of banking institutions to
redeem their outstanding obligations
A law and practice which allows q
citizen to pay his obligations to the
in silver and at the same
time permits him to demand of the
gold in redemption OF its
obligations is manifestly unreasona-
BILE and unjust and in the nature of
the case must impair the confidence
and tend to produce panic.
For 30 years the Republicans had
been building up tariff walls around
the country, and in 1890 passed a pro-
tective tariff law. A protective tariff
restricts trade and commerce, it limits
the market in which we must buy and
depreSses the markets in which we
must sell. 1t is tax upon foreign
product which the consumer here
must pay. By taxing his foreign COM
Oetitor you enable the domestic manu-
acturer to increase the price OF his
wares to the extent OF the tax, and
his, too, the consumer here must pay.
Then you buy foreign goods and pay
he duty, it goes into the treasury and
S called TAX" when you buy the
domestic produce and pay the in
creased price it goes into the pocket OF
he American manufacturer and is
jailed protection. The location
If the mandatory determines
he name, but the rate of the
luty determines the price. Under
uch a tariff you must buy in market
where competition is destroyed and
where scarcity is created by law. You
must sell at prices fixed in market
where free trade and the law of supply
md demand prevails. Trade and
commerce is the exchange of commoS
lities. A protective tariff prevents us
rom exchanging our surplus OF corn,
cotton, wheat and other farm products
or the surplus of manufactured goods
abroad We freely export our pro
lucts, but that for which we exchange
t is so heavily taxed as to make the
exchange Improbable. Commerce
ceases when gain is gone; one cannot
buy unless he sells, Cor can he sell an
ess he can buy. Commerce and agri-
culture go hand in hand; when one
ceases the other languishes. The laws
which destroy the one make the other
Taxed crude materials
njure and depress manufacturing.
1t wan the markets of the world
OUT under the protective tariff has not
Oeen able to enter them. A proteo-
i've tariff fosters and builds up trusts
and monopolies, it creates no wealth,
t only prevents its natural and just
Thirty years of such a system did
much to produce the condition exist
ng when the Ftfty.third congress met.
What has the Democratic congress so
'ar done for the people? The first
matter considered was the financial
question. What should or could be
lone on the silver question? We had
pledged ourselves against the make.
shift Sherman law and i'll favor of both
gold and silver as the standard money
If the country. By az agrees
nent arrived at between Democrats
We determined to take the sense
If the house on the free and
Unlimited coinage of silver at several
altos. After full debate separate
vote was had on each and on the re-
peal of the purchasing clause OF the
sherman act. The result you know.
While not protesting to understand
he question fully in all its bearings,
have always been in favor of the
rec coinage of silver. | am now in
avor of it. | believe The fears OF our
riends who oppose it are largely im,
Iginary, aud 1 believe the enactment
VI such u law would afford great re-
iel to the people of The country. SO
ceiling. | need not say thaT to me,
the vote on the tree Coin
ige of silver was q great disappOint-
nent. This question is not sett,ed.
"With our great struggle for tariff
etorm you are familiar. Thirty
'ears Of class legislation built up IN
his country large trusts, large mo
l0polies and combinations Of capital.
All these interests were arrayed
against us and in the bitter contest
through which we passed were ear.
lestly aided by - compact Repub-
lean minority. All that wealth and
mercy aud oil that int ,Ili1rapoo o,,J