The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1895-04-22

ed more than any cause to this shrink
age of all values; the depreciation of all
property; the stagnation of trade; the
paralysis of industry: the financial
troubles in which we now find ouselves.
While the restoration of silver to its
place of unrestricted coinage and un-
limited legal tender function may not
prove panacea for the ills that we now
suffer, yet I am convinced it will do
more, and GO further in that direction
than any one piece of legislation that
has been suggested. / have an abiding
faith in the capacity of this metal to
work out and maintain its permanent
parity with gold, provided the oppres-
sive hand of the law is removed, and the
mints of the country thrown open to its
coinage. I believe, and always did be-
lieve, that the act of 1873 was an uncon-
stitutional measure. believe that the
act of 1873 would have been so held by
the supreme court of the United States
had not partisan spirit dominated the
action in that case. This conviction
have stated in debate on the floor of the
senate as broadly as put it here.
81 agree with Daniel Webster, who,
in his day, and even to this day, was and
is still held to be something of an au-
thority as a constitutional lawyer. He
declared the constitution of the United
States made gold and silver the redemp-
ton money. of this country, and that
neithor congress nor any state had any
rightful power to substitute any other,
nor to destroy either the one or the
other of these metals. If congress had
the power to demonetize silver, it must
be conceded that it had the same power
tosdemonetize gold. 1t has seen fit to
exercise this assumed power as to one of
these metals. Had it exercised the same
power over the other, under the apoma-
ton, they would not have obtained any
money at all. Ifthey could strike down
half they could strike down all.
81 am in favor of the restoration of
the silver metal at the ratio of 16 to 1,
believing, in the light of an experience
that covers century, such ratio will
establish and maintain permanently the
parity between the two metals. be-
lieve we should take this action at the
earliest day possible, independent of the
policies or views of other nations. L
have abiding faith in the ability of my
country to establish and maintain its
own monetary system, as that which I
cherish in it's ability to defend its own
soil from invasion, or its institutions
from assault. In my judgment, we are
as independent of foreign dictation or
domination in the one as in the other.
ssIn August, 1898, when the bill pro-
posing to repeal the purchasing clause Of
what was known as the Sherman act was
before the senate, said, in speech,
then and there, that wanted the right
of coinage for the silver metal, and that
without limitation that if seigniorage
was what my opponents demanded, I
was willing, not as matter of fairness
but in spirit of compromise, that the
government should take 10 or Is per
cent, or 20 per cent, or even % per cent,
of the silver bullion presented for coin
age; or that if the question of ratio was
what was troubling, was willing, not
as matter of justice, but in spirit OF
compromise, if 16 to was not accepta-
bic, to take IL, 10, or 10, or even ratio
of 20 to 1. But the opponents of this
metal were not to be placated by any
concessions, either on the line of in
creased seigniorage or advanced ratio
They had destroyed the metal by pro.
cess that has never been, in my opinion
successfully justified, and from the
hours of its taking effect until now, they
have never been willing that it should bs
reinstated. Let those who will seek tC
distort and pervert the issue pending
the effort willfail The American people
are not to be hoodwinked or deceived
/ further. They are at last thinking, anc
} the result of their investigation will vim
: dicate the right. No employment o
catch phrases will determine the popu
} lar verdict. The people are rapid.
! coming to know that the issue befor
them is not gold monometalism upon tn
: one side and silver monometalism on tn