Morning journal and courier., 1894-05-16
SENATOR PLATT

,rowbsrs, axes, rskes, etc. The ladies wbo attend are expected to furnish the re- 
 SENATOR PLATT
 On the Lodge Amendment to the
 Tariff Bill.
 From the Congressional Record.]
 Ar. President: do not wish to occupy much of the time of the senate, bat since the senator from New Jersey said he sup. posed that the author of this amendment could scarcely be in earnest about 1t, de- sire to say that II shall support the amend ment very heartily, and for two reasons. The first is that bslieve myself to be and claim to be bimstallist. I know that l there is difference in the definition of that word. Ikuow that my friends who ]! are in favor of the free coinage of silver | by the United States alone do not admit I that any one Is bimetallist unless he | agrees with them and supports the free coinage of silver by the United States I alone. am bimetallist and honestly go in the sense that desire, If 1t be possible with safety to the country, that we shall have free coinage of silver. If that be not possible desire to use all the silver ! that we may safely use in this country as d legal-teDder money.
 The difference between myself and those who insist upon free coinage by the Uni- ted States alone is that they believe 1t would bs better for the United States act ing independently to adupt the free coin- age and use of silver. I believe that that would bs more disastrous to tho United states than to pursue our present policy of keeping the silver which we have in use and waiting until such time as the world will engage in the free coinsgs of silver or the limited use of silver.
 l rzcogDizs the fact that all that stands in the way to- day of the free coinage of silver by the commercial nations of the world at 8 ratio of sixteen to one or fifteen and one-half to one is ths attitude of Great Britain, and l think that the passage of 5his amendment, passed as it ought to be by both sides of the chamber, would be an admonition and vo!cs which Great Brit ain could not refuse to hear.
 I agree to 8 certain extent with those whom I msy csil my silver friends, that the scarcity of gold in the world for mon- sy purp ses has been productive of great disaster, haa been to large extent respon- sible for falling prices and unremuners- tive business. Perhaps I would disagree with them as to the extent to which that cause has operated. I have 10 doubt I should dieagree with them in supposing that other csusss were potent in the fall of prices and the unremunerative charac. Ter of business; but that the appreciation If gold and its ever increasing scarcity for money uses have to a great extent de- stroyed values and made business unproft 4b I do agree. That Great Britain stands directly in the path of tue use of silver, | and stands there almost alone, think is | unquestionable. Therefore, desire by
 hs passage of this amendment that we
 may do something which will convince
 England that it is no longer to her inter-
 est to stand in the position of the usurious
 creditor of the world. something which may open her eyes to the fact that there Is
 for her path of greatness and prosperity
 aside from the mere lending of money and
 taking the interest in gold, and cheapen- tEg the prices of those commodities and
 things which she desires to buy and must
 buy.
 So much for that, Mir. President, for ]
 promised that would only speak for g
 few moments. There is another reason
 which think makes the passage of this
 amendment entirely proper. As has been
 we'll said by the senator from Colorado
 [Mr. Tele1]. England looks to this nation
 Tor her market for manufactured products, | and che wants such a tariff as will enable
 her to get cur market.
 + seems to ms that those who desire the | redcc'ion of duties ss proposed in the Wilson bill, or indeed in the bill as 1t
 stands to day before the senate, gre either willingly or unwittingly contributing to
 the desire of England to get our market ] and making that desire substantially 8 ! success.
 The senator from Texas says that the ! bill if passed will increase the importation | of goods into the American market. As | the senator from Colorado we'll ing uires, | what country is to send those goods here ! and to whom is the price to be paid | England is to be cur chief creditor if | this bill passes. I therefore desire that | we may by this amendment do something | which will counteract the hope and de- | fire of England to acquire the market of | the United States for her manufactured | products.
 Along in the line of the financial argu- | ment I desire to call the attention of the | flood our market with goods, as I believe she will under this bill, they are to be | paid for in gold; and I desire in some way to prevent England from draining | more gold from the United States. We | can scarcely hold the balance of trade ! even now with England. Ships are sail | ing this day from the port of New York | carrying two CT three million dollars of ! gold to London to pay the debts which | ee owe If those debts are to be in- | creased by the increased amount of goods ! which England is to have the cpportuni- | ty to furnish to the United States under | this bill If it shall become a law, then | the increased amount of goods which she | furnishes to the United States must be paid for by drawing gold from the treas- | ury of the United States.
 I should regard 1t ss impossible to | keep gold in the United States treasury or in the United States itself for three | years after the passage of this bill So | instead of doing anything to persuade or | to coerce Great Britain from carrying out
 he- policy of gold monometallism, we are
 by this bill playing right into her hands. We are bringing about a trade system in
 which her gold reserves are to be increased | and fortified, 60 that she can for the years to come maintain her position of gold mo- | nometsllism; go that sine will be strength | ened in the position which she has taken, | and so that we in the fature shall be pow erless either to persuade or to eoerce her | to the enlarged use of silver.
 | MT. President, I regard this as a very | important amendment. l should be glad
 to discuss 1t at greater length, but could not allow vote to be taken without defin- ing my position upon 1t in few words. |