The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-09-26

/ into general disrepute. When, in 1890,
bill was pending before congress and had
passed the senate by sixteen majority,
for the C aage OF silver on equal terms
and conditions with gold, a Juggling
compromise was brought forward by
Senator Sherman. the ablest arch enemy
To silver money in the United States,
/ avowedly 10 defeat the bill for its coin
/ age, and In an evil moment the senator's
and representatives, OF states having sill
/ yer bullion 10 SELL accepted the terms
/ offered by the senator from Ohio. The
! result of this ill-omened agreement be-
I tween the crafty enemies and the over
! credulous friends Of silver, was the
/ Sherman act, so tersely denounced by
| the democratic national convention at
! Chicago in June, 1892 ''as a cowardly
/ makeshift, fraught with possibilities of
danger in the future, which should make
! all its supporters. as we'll as its author,
/ anxious for its speedy repeal" This
measure was spurious and insincere in
/ its inception and in the object at which
/ ii ostensibly aimed. 1t had no other pur-
! pose than the defeat of the coinage Of
| silver and that being done, the senator
from Ohio did not hesitate to declare
| that ne stood ready every hour after the
| compromise was effected to vote for its
repeal. This compromise, as it is some
| times called, the Sherman act as IL Is
better known. denied to the producers Of
/ silver the right TO it's coinage at the
| minis, but provided in lieu thereof for
the purchase of 100000 ounces Of silver
/ bullion per month. 1t is pleasure 10
| find from the record that no democratic
! vote was cast for this piece of fraudulent
! legislation. 1 call il fraudulent for many
| reasons and palpably so. because its
author and all his followers were will
| ing and anxious from start to finish to
! break the compact, as soon as Ii had an
| swered their purpose; they were eager
! to repeal the consideration on which the
! md
| victims OF misplaced confidence from the
| Pacific coast and the mountain states
| empty-handed, with neither the privilege
| TO coin their silver nor to sell 1t even as
| a mercantile commodity. In making sill
| yer an article of traffic, on level with
corn, wheat, cotton, tobacco and other
productions for sale, instead Of stamp
| ing ii with the inviolable authority OF the
| government, as one OF its precious
metals, Of course, there could be but one
| result to it's rank and power, as one or
| the heretofore honOred and always con-
stitutional moneys Of the American peo-
| pie Silver money staggered and fell
/. under such a blow, and when congress
| convened on the It'll day of August 1898,
I the first, the sharpest and most impera-
! tive call to patriotic action came from
| an impoverished treasury, deranged
| currency Of unequal values and a para
| lived circulation. The Sherman act had
! become the means TO an end with the
| money jobbers OF the world. 1t placed
the credit and the resources of the gov
eminent at the mercy of the money
| sharks of Europe as well as OF the
| United States The gold reserves held in
the treasury began to melt away, while
! financial disorder and finally a most
| fragrant panic held high carnival In our
midst l drew the bin which repealed
the Sherman act, but while removing
that admitted obstruction TO the general
! welfare, / was careful TO substantially re-
| assert the democratic national platform
| of 1892, wherein it is declared that we
hold to the use Of both and silver as the
| standard money of the country, and to the
coinage Of both gold and silver without
! discriminating against either metal, or
| charge fol nintage, but the dollar mint
| Of coinage for both metals must be Of
! equal intrinsic or Interchangeable value, or
| be adjusted through interna tional agree
! ment OF by such safeguards Of legsla-
ton as shall insure the maintenance of
the parity Of the two metals, and the
| equal power of every dollar at all times
| in the markets and in the payment OF
| debts; and we demand that all paper
| currency shall be kept at par with and
| redeemable in such coin"
| Speaking at the time in my place in
| the senate I made the following state
ment, and from it never expect to de-
| part:
"As a firm, unfaltering believer in BIZ
4 II.
| porter Of the coinage and use of both
| gold and silver as the standard money Of
| the country, without discriminating
against either metal. I voted against the
| passage Of the Sherman act, and for the
| same reason I shall vote for It's repeal.
| The cutlery in certain quarters at this
time that those who vote for the repeal
| of CHS measure are enemies Of silver as
| money and in favor Of its demonetza-
ton is not only false. so far as 1 am con-
/ taaE
| happened in the past, it is absurd.
beginning with the first speech / made
! in this body and down to the present
| hour can recall 10 vote or word ON the
| subject Of the coinage and circulation Of
| silver which / would now change or blot
from the record if 1 could. And now in
this, the darkest day ever known for sill
yer amongst civilized people since Abra-
| ham, the Hebrew prince, paid 800 shekels,
current money with the merchant, ="
for a resting place for the beloved Sarah,
| I avow my mistaken faith that II will
| remain forever one Of the worlds great
| and potential factors Of finance, COM
! merce. traffic and daily business trans
| actions.
ct will never be demonetized nor driven
away from the habitations Of the labor
| ing masses Of mankind. II has come
| down to us from immemorial ages. and
| il will continue TO exist as one Of the
| precious metals unfolding the credit Of
| sons and daughters of toll when the
| scenes through which we are now pass
| ing have grown dim in the light and
| progress of distant centuries. 1 shall
| vote to repeal the Sherman act as
would remove dead fly from box of
sweet ointment; as L would abate a
| nuisance and wipe out an obstruction to
| rational, wholesome legislation. 1t taintS
| and vitiates our entire financial system,
| and destroys confidence in all business
hNrF aaff
| of our laws. Often the question has
| been asked whether a vote should be
| given for its unconditional repeal, or
whether. before 1t goes, something in the
| way of a substitute must be agreed upon
to take its place.
81 would at once eradicate this con-
fessed evil, this universally condemned
| enactment from the body of our laws.
and free agency to support and to Sc
! cure, In connection with its repeal-or
| afterward by an independent measure, as
| the success of it's Immediate repeal, the
| primary duty of the hour may at the time
| dictate-a sound financial system, en-
| bracing the coinage of silver on an equal
| fty with gold. In making this statement
| l only repeat the declaration of the
democratic party In national convention
| at Chicago in June. 1892, and which
the American people restored to the
| presidency one of the strongest ablest,
| known in American history"
what the Democratic Party Hns Done.
| After a severe and rrotracted struggle