The sun., 1895-01-13

finance recognized In this or any other country.
hnu we are told that this was the scheme for
Whether IL will ever reach this body or
not ] do not know; but | want TO ex-
give TO this country forty.four different kinds
81 money. want II distinctly understood that
function not not to- to be su surrendSre3 m NJ any time.
But II we are TO surrender that national func-
Ilon ana turn " over 70 corporations, then the
fed in some particulars. Is the best that can be
presented. ] am not national bank man, and am
not in favor OF permitting national banks to Ia
turn over this Government function to a cor
porati9n. We had better turn IL over to the ma
Speaking Of a currency being elastic Mr.. Tel
Ter said that there could be an elastic system of
currency that was not also an insOlvent system; ;
and that the only power that could give this
country an elastic ard solvent system tovether
United States. The only way Of having an elias
tic currency was by having lot OF 4. The vol
oes mott asi drive pS Il ali ont OF seh panic
- Ridcuing the conduct, Of the Secretary Of tho
Treasury, Mr., Teller said that y a teller Of n
out on the street and throw UP hi; lands fran.
tically, declaring that "something must be
eevsr h% wsaE same
methods he said. should be applied TO the
Te APPLIED I" 6s,s
confidence in its ability to- manage the affairs OF
the Government the people will not have"
Mr.. Teller said that, that was but The reflex Of
the condition abroad, and that nothing which
could be done here would bring prosperity to
paper money. he said You may put out
what you have out now. and you may stimulate
enterprises here temporarily; but you will pay
rope, You cannot compose the difseulties
Sn9hns wsh there c 'st hs. K Rn what CIRCLES ws ms BY
do is TO address ourselves to some systemic
some Legislation which shall help everybody
the Senator from Idaho tMr. Dubois) that the
only method to do that Is to enlarge the metallic
that basis You viii have 'i, paved We, the way and
taken the first step toward bringing the whole
world back To the condition which existed few
years ago and for many years before"
Mr.. Teller. enlarging on this subject. quoted
France as rich and prosperous and tranquil
mints lie admitted, were not open to free coin
age: but silver was kept within its monetary
Bank of France for exchange. per cent.
was paid in gold and % per cent. In silver;
one day, and another day perhaps 20 or 80
silver but" he said, the French people have
not been threatenened by, disaster by their
ty years. They have not had Ministry in
France who in every I ntterSnee made S,b 10 tine tnS
serve. was about to 20 into bankruptcy. They
believe in the solvency OF their country and the
As an illustration of the distribution Of
wealth among the French people and their
Mr.. Hswley tRep.. Comm described a scene
which he had witnessed in Paris in 1871. when
fnG were % ade to e 600 ana wbep TaT m at
least 1000 of the common people gathered in
the neighborhood of the Palais d'Industrie,
where subscriptions were received. at midniRht
opened. He said the same thing had happened
all over France. and that 1t was a wonderful ex-
ample of the distribution of wealth among the
French people.
that the low prces M not only in the tpttd states.
but in the world, were tho result Of demonetiza-
ton Of silver. first by Germany. next 9y the
The world was suffering to-day. he said. from
condition of prices that were not remuneratiye
factory, or anywhere else. The prices Of products
to-day were below; the cost Of production; and
appreciation of gold. by the narrowing of the
metallic basis of money.
"1t has been said" Mr.. Teller continued;
and silver are in favor Of cheap money want
TO say hero that IL sound money is provided for
efforts of men who are called silver men, The
gold basis is so narrow that you cannot maintain
t.; and You VIII be 81 met some day with vii o 1hs
narrow metallic basis. We have come pretty
near it. Wewerc at the door Of IL once or twice.
The condition OF the country will lead the people
to force into some such system unless we
adopt a wise system based on the money OF the
Referring 10 the labor riots in Chicago. last
year Mr.. Teller expressed his approval OF the
he exclaimed what al condition Of affairs it is
that requires an american army Iy to 5 Keep ns tine
to be repeated. II ought not to be repeated he
cause the conditions should not exist. We
should address ourselves to removing the condi-
tons which make IT necessary Are we doingit2
not charged with the administration OF Govern
mental affairs. But. for one, standing on this
ss Of n reay IN
any scheme that looks to the amelioration OF Of the
bring w @ ntU the
not be running into debt month by month.
hs hnse sassS in %@a that yna cs
settle i; I and settle it speedily. |
hnxs hone spnouS sn eeHe M so
question is to be settled now. do not believe
that the Republican party i going e to DO it. noW
continue until it is settled. l believe that the
time will come 70 when the party in powesrIno no
settle this question.
:" have lost some hope, have lost some con,
the American House OF Representatives and
the American Government, with all thase de-
plorable conditions about them; supinely wait:
ing to see what will happen in Europe do not
know that a change of Administration will help
us. doubt IL. am ready to join in any move
ment that will bring this course out of a con-
dition so disastrous and distressing and dis
graceful. | am partisan. but am not sufi-
ciently partisan to put the interest Of the party
above that OF the country II our friends on
the other side can bring us any solution
OF this question in the shape Of a compromise
that is not a base surrender and abandonment
OF silver as money, bc which silver can be re-
placed in tho monetary system Of this country
and. through its agency, into that OF the world.
l shall be ready to yield my objection 70 some OF
the legislation proposed. The conditions can;
not be worse. Let them run another year, and
where you have one Socialist IN this country now
You will have hundred; where you have one
strike you will have many; where you have one
Anarchist you will have many. The American
republic Is in peril. IL is a crisis more fearful
to the American people than the crisis brought
on by the rebellion. There must be no more
temporary expedents in dealing with this mat
ter. IL must be dealt with in u broad, states;
manlike way. We must recognize silver and
make an honest effort to put 1t back. not only In
the currency OF this country. but in the currency
OF tho world. DO not let any body cry out " Any
thing. anything Let us have an idea what we
want and let us get that and take the conse-
quences. II may not mean a disintegration OF
States. But no student of history can go
Al. fha laaf nd Taal