Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-11-18
What He Thinks Caused the Defeat
Of the Democratic Party.
HARD Times AND SCARCITY OF MONEY
The Presidents Action as to Silver
Coinage.
SEN ATE REORGANIZATION

Senator Vest arrived in Washington Sat
urday. He looks well and seems to be in
good spirits. He at first refused to discuss
the political situation, but finally wrote an
swers to number Of questions submitted
to him.
You wish to know what think caused
the defeat of the democratic party at the
late eiection?" he said.
First, continued hard times caused by
scarcity Of money. The gold men calm that
money Is abundant, and quote from the
treasury reports to prove it. They say there
is a per capita circulation of s25.07, when. in
fact, there is not half that sum. They
count the reserves in the national and
state banks, together with the bullion and
gold in the treasury, and the SGOO,UO.OOO of
gold coin which they estimate to be in cir
culation. When confronted with the fact
that there is no gold in circula ton, they
ply that this is true but that 1t answers all
the purposes of currency by taking the
place of currency in the way of reserves
and exchange. This is not satisfactory
answer, for every intelligent man knows
that the gold of the country, no matter
what the amount, is boarded by reason of
the fact that under existing laws Its pur-
chasing power is constantly increasing.
1--WE will never have prosperity until there
is free coinage of silver. and our volume of
money IS increased. No country can be
prosperous with an increasing population
and decreasing circulation.
\ Financial Congestion.
The United States is now suffering from
financial congestion. What money We have
Is in the great banks and money centers.
and it will stay there so long as we have the
single gold standard. Business, except In
few industries, is stagnant. Everybody is
i,,t~
prices are falling. The gold men seem un-
able to understand the difference in the ef-
feet upon a country of low prices and fall
ing prices. Low prices, when fixed, may be
a blessing to the masses, but falling prices
paralyze business and ruin all classes except
the money lenders
I'm the agricultural states the products of
the soil are below the cost Of production.
Corn is worth in many parts of Missouri
seventy-five cents a barrel, while oats and
wheat do not pay the farmer for mis- labor
and seed. Beef is controlled in price by the
Chicago combine, and the supply by no
means controls the market.
Second. We received from HarriSon's
administration practically bankrupt treas
ury, with continuing appropria tions from
the Reed Congress of $12O, 100000, and Cleve-
land entered upon his second term handicap
ped by these conditions and the beginning of
a great panic.
Even then We might have weathered the
storm but for unfortunate and ineradicable
differences in our party upon the financial
question and the tariff / do not care 20 dis
cusS these differences in detail.
The President's Action.
THE President unfortunately rejected all
offers of compromise from those of us who
differed with him on silver and refused
positively to use the power given him by
law to rebuke the gold spectators and
protect the gold reserve by rendering silver
even as part payment when greenbacks
and Sherman notes were presented at the
treasury for redemption. l believe that
Carlisle at one time contemplated such ac-
tion, but the President, who just before his
Inauguration talked reasonably and con-
servatively, suddenly became obdurate and
ordered the payment of gold exclusively.
This, of course. placed the treasury at the
mercy of the Spectators, and the logical
result was the veto of the seigniorage bill,
the issue of gold bonds and the paying
tribute to a foreign syndicate.
THE President, surrounded by a lot of
incense burners who told him he could do
no wrong, demanded an unconditional sur
render by the silver men in Congress, and
that the volume of money should be re-
duced $IO,OOO,OOO annually by repeating the
purchasing clause of the Sherman act with
out putting anything in the vacuum so Gre
ated.
I'm other words, he demanded that we
should indorse the single gold standard.
1.-The same incense burners are now tell
demonstrate his foresight, and one of his
cabinet has come out in an interview gloat-
ing over the result. No one differed more
than myself with Brice and German on the
present tariff, and l supported the measure
as it passed only because it was better than
the Mckinley act. 1t is only just to say,
however, that but for the assurance of the
President and Mr. Carlisle to Senators Har-
ris and Jones that some bill must be passed
Mr. Cleveland never would have had the
opportunity of branding the act as treach-
cry to the party.
"Whatever else may happen, the time will
never come when 1 can rejoice in seeing
the democratic flag trampled under foot no
matter by whom it is borne. I am not that
kind of democrat.
Senate Reorganization.
"You ask me about the organization of
the Senate. l am not on the steering COM
mittee as it is called, and speak only for
myself.
PERSONALLY I would be glad to see the
republicans take control They have
majority and are entitled to the offices and
committees. 1 am chairman of the commit
tee on public buildings and grounds and the
senior democrat on the committee COM
merce, but 1 would be glad to surrender my
craftsmanship of either or both committees
to a republican. l am anxious to see the
other fellow walk the floor and to watch
the harmonious infelicity which will de-
velop on the silver question. With both
houses of Congress and the President in
favor of a gold standard, the republicans
must do something to stop their bowling
about democratic incompetency.
LAS a matter Of fact. Sherman and Alli-
son don't want the Senate, for they know
their party is badly divided on silver
coinage as we are, and if the democrats
will only force them to assume their just
responsibility the weakness of their organi-
Zation will be exposed.
"Since our caucus at the last session,
however, refused to change the Senate rules
so that we could pass the right sort of a
tariff bill or expose the men who prevented
its passage, 1 have not had much hope of
our marching straight upon the enemy. 1
am afraid of some juggling compromise, by
which one party will take the offices and
the other the principal committees. In that
event we are lost, for the republicans will
evade the silver question, and then go into
the next canvass with the excuse that the
democrats had both the Senate and Presi-
dent
ANOTHER SAN FRANCISCO TRAGEDY