The Delta independent., 1894-07-04
NO LOOKING BACKWARD.
Congressman Bland Yet on Guard-He
Still Full of Fight.

free coinage fight will be renewed in
the regular session of congress. The
free coinage men hold that the repeal
of the silver purchase law has not re-
stored commercial prosperity, that the
position of the silver men in urging
free coinage at the extra session has
been vindicated and that now the dem
ocratic party in congress should devote
itself to redeeming the remaining
pledges of the last national convention
on the subject OF silver and financial
legislation.
With this object in view, Chairman
Bland, Of the committee on coinage,
weights and measures, has prepared
bill, which he, as the leader of the free
coinage men, will introduce early in
the session. 1t is further declared by
him to he his intention to afford no
loop hole of escape for those congress-
men who have talked for free coinage
to their constituents at home, but voted
against it on plausible pretexts, when
the matter came up for consideration
in the house. He holds that there is
clear majority for free coinage in, the
house, il the private declarations. OF the
members to him during the extra scs-
sion are to be relied upon, and purposes
now to bring these gentlemen to the
crucial test.
Mr.. Bland's bill is substantially a re-
enactment of the law of january IS,
1887. 1t is the belief of the silver men
that this will command greater strength
and afford less opportunity for evasion
than any other measure which could
possibly be presented The act of 1887
was simple and brief 1t provided for
silver dollars Of 4121S grains, and de-
clared that "the dollars half dollars,
quarter dollars, dimes and half dimes
shall be legal tenders according to
their nominal value for any sums what
ever"
In regard to his position and the
plans of the silver men, Mr.. Bland said:
II do not see that the repeal Of the
Sherman law has changed the situation
for the bctter-indeed it appears to
have changed it for the worse. The
truth is-and the people now thorough
ly realize 1.-THE silver purchase law
has had nothing to do with the hard
times. The hard times came on and
they are with MS and we have simply
got to go through process OF liquida-
ton before good times can come again,
and that was necessary whether we
repealed the Sherman law or not.
This panic. like all other panics. finally
reached a point where the people got
afraid ~ tho hanks and afraid Of
each other. and there has got to be n
general liouiaation and blottinp out
and bepinnips anew. The repeal of
tho sherman law will only tend to
make foundations harder for the debtor
clnss of nsonle. because a contracts
tbe currapcv and leaves the business
;ntercsts oft,,e country xvitbout n suf.
Hcient volume NJ nonev 4o s,nnlv N
growing nom,l,tion and develonmept
of ;ndnstr;es IL was thought that
Euronean c,nitaI woula te invested
her. more READILY NV the ran.al Of the
silver nnrch,so not than bv Iott;Dp /,
Stand Dut IL seems that cvc, In that
tbey have heen preatlv dis,nno;,t,d
Tbcro seems 10 he now loss Confidence
{, Erro,,c In our financial condition.
tbo, hafo,o Tbcy or, so,d;no, NO
monoy hors md cortirrn to 1raw
,v,y o,r. 70 tho cold bosis ,vhich
,yc have here NOW tends 10 contrnc,
c,rrcncv n ia MAKING thc times harder
evervyybcre The Contraction Of tbc
currency md n gold bn.is will tend to
rn.l,e a sb,rn dem,nd Tor cold In
E,,ro,,o ,,,alI n. hor, ,,d Iii ;rirr,
our nroduccrs nv causing lower nr;cca
for everything we send to Europe.
This also makes lower prices
here, md hence since the pas
sage Of the repeal act, wheat and
cotton have gone down in the mar
ket instead of going up. We expect to
undertake to pass u free coinage bill
before congress ndjourns. What sue
cess we will have is very uncertain.
MY position now is that we should re-
peal all of the Sherman laws on silver
and have the law of 1887 re-
en,ctcd and tbus mt silver b,rls IN