The times. [volume] (Richmond, Va.) 1890-1903, 1895-12-04
HOKE SMITH MAKES ASPEECH
The Secretary Of the Interior Addresses
The Georgia Legislature.
OPPOSING CANDIDATE TO JUDGE CRISP
Sne on tho Platform Of Free silver, and tho
other AN Exponent Of the Cleveland
Financial Poiicy-He Pictured
Hsrrible Panic as the Result ola
Free silver Basis.

ATLANTA. GA, Dec. 3.-fon. Hoke
smith. Secretary of the Interior, ad-
arrested the Georgia Legislature tonight
On the financial question
lwo weeks ago ex-epcakcr Crisp spoke
before the General Assembly OF the state
iu response to an invitation.
Judge crisp and Secretary Smith are
Recognized as opposing candidates for
The united states Senate. successor
10 senator John h. GORDON VIII be elected
next November
yudgo crisp viii make his race as the
fre&-siiver candidate. anu Secretary Smith
wa run as the exponent OF the Cleveland
financial Doncy.
are dark horses. The real light Is be-
tween crisp ana Smith. or between the
double ana single STANDARDS.
The ga1eries ana the floor Of the hall
OF the House OF Representative were
filled with spectators when secretary
Smith entered tonight at o'clock lie
was introduced by Senator Osborne, OF
Savannah.
The Secretary, In opening. said the sub
jcct on which he intended to speak Is OF
vital interest 10 the Democratic party.
fossed. For those who differed win MN
he had profound respect. he said.
A FAMILY CONSULTATION.
lie objected TO calling the present. divi-
sion IN the Democratic party FANNY
"Can it rather" said he, "a family
consultation"
But. whatever may happen in the next
National Convention OF the party he
trusted that ali Democrats would apiue
by the result "a expressed IN the plat
form. ,....
announced why he personally was or.
posed to the tree coinage of silver al 10
TO l. He then proceeded 10 DISCUSS tle
origin Of coinage. Coming to me cur
rency now In circulation in the United
states. Mr.. Smith said he wished II dis
tinctly understood that $icorvp OF sil-
yer coined since 1873 + legal tender Tor
all debts. for any claim, made so by act
The free coinage Of silver at 10 TO
would be unjust TO gold. Mr. smith DC
clared. because there would he 0hiy
nfty cents worth Of silver IN the SILVER
dollar. while there would be one hun,
dred cents worth OF gold in the sold
dollar.
am no enemy Of silver. want to
SEE every silver dollar circulate that can
be kept worth a dollar. aud want TO see
every paper dollar circulate that can he
kept al The value OF the gold ana silver
dollar. The advocates OF free silver
coinage cali themselves bimetallists. but
they are really mOnometalllsts, declared
the Secretary for gold would be driven
out of circulation and only silver would
remain. Mr. Smith discussed the Arst
ratio established by the United State.
saying that Jefferson and AleXandtr
Hamilton agreed upon the rauo OF 10
TO ]. believing that TO be the approx
mste commercial ratio. In that | stand
with Thomas jefferson. treasury de-
''"''' TALK ABOUT BONDS.
Abiding 10 Mr.. CriSps speech Mr..
smith said that the ex-SpeakeSv policy
would degrade the countrys dollar and
would not reform the nations currency.
warn you cotton planters against
cutting loose from foreign countries,
said Mr.. Smith. They buy So per cent.
of your cotton. Then how could YOU Set
along il you cut loose from your best
markets!
They talk about more bonds Nobody
wants to issue more bonds. but with de
lnand notes. what are We going to dof
Shall We. pay them or shall we refHse
them and discredit our Governments We
have not the silver to pay them with,
hut " we had. and were to pay i'm sill
Yer. we would 70 TO "A silver standard.
That is an uncertain measure of values.
The Secretary pictured a terrible panic
as the result of going To silver basis.
II YOU were TO elect a President and
Congress committed to the policy OF
the free coinage of silver. IL would be
six months before silver legislation could
be enacted. In the mean time, the credi
tors everywhere would insist upon pay
ment There would he no extensions of
credit. and frightful panic would en-
sue
Mr.. Smith advocated the repeal Of the
IL per cent. tax on State banks. lie be-
lieVed IL unconstitutional and stated
that many able lawyers with whom he
Is associated in the administration also
believe the law is unconstitutional.
l do not believe that up To 1870 I knew
how many grains OF gold or silver was IN
a dollar. | do not believe ! knew what
the ratio was. but since that year l
have studied the question, and now be
lieve firmly in a gold standard ! be-
lievc that the next Democratic National
Convention will put in a single gold
standard plank.
Mr. Smith closed with an appeal for
harmony in the Democratic party.