The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-15

SL1nUaEQ countries everywhere. IN sup
port OF this he read from an interview
on Feb. with a J. BalfOur. first lord
Of the treasury in Lord Salisbury's cabl-
net and from the queen 5 speech delivered
probability, Mr.. Crisp said. in
view Of Mr.. Balfours declara-
tiOns that England would assent to any
international agreement for free coinage.
And he was of the opinion that nothing
substantial could be looked for from any
other government. The treatment of sill
yer in the United States, he was satisfied,
had been part of the general conspiracy
or movement to strike down silver. He
reviewed the financial legislation in this
country since 1S73 and the policy of the
treasury department from the time of the
resumption of specie payments, and
charged that by WhOmSOeVer administer
ed, the treasury department had played
the part of wet nurse TO silver" seeking
10 endeavor to maintain it in the markets
of the world and thereby discrediting it,
referring to Secretary Carlisles refusal
to change silver for gold because he must
retain the silver to support the treasury
notes issued under the act of 1890 and vet
Wnen one of those notes is presented he
redeems in gold" Mr.. Crisp exclaimed,
What kind of juggling is that with the
for silver is that?" (Applause)
1t is not the coinage of every ounce of
silver which gives it its value" said the
speaker, but the right of every ounce of
silver IN the world TO be coined" (Ap-
plauSe)
We're that right restored, he claimed,
the Old parity of the two metals would
speedily be restored. Mr.. Crisp said that
II the gentlemen on the republican side
believed that the obligations of the gov
ernment should be paid in gold, they ought
10 nave the courage to say so, but they
would not do so. When the President
sent his message to congress last winter
the ponds he had contracted to sell the
Syndlcate payable In gold, for the reason
Inat II they were so made, the United
States would receive $4,000 COO more in
than raaW fOr
coin bonds" But the representatives of
the people refused to give him the priyi-
ltSe ne asked. DO you say now" asked
Alr. Crisp, that having paid SIG, 100000 for
tne privilege Of paying the bonds in sill
YER 7r, we shall not do so?" (Applause)
Ihe dust has been raised by the money
dealers themselves; they asked congress-
TO resolve the doubt in their interest and
oIered to pay $l6oOO,0OO for a favorable de-
clslon. But, having reached a differen.
decision, congress was now told: You
must not pay the bonds in silver, because
Il you do you will trail in the dust the
IIhanclal honor of the country" (Ap-
Mr.. Crisp said the country was not
likely 10 receive any substantial relief
do-nothing congress-" 0aughter) That
was the platform upon which il was pro-
ceedinS The present .preferment of the
specially preferred creditors of the treas,
ury, by which they received gold for
their claims, he said, was the delibera ( g
surrender by republican secretaries of the
ernment, which had been followed, he
regretted to say, by democratic officials
Ine maintenance of the parity of the two
metals was the declaration of the Sher-
man. act of 1890. The Bland-Alison act
contained no provision on the subject
HeIerfing TO the Endless chain" Mr.
crisp said the government was engaged in
the most expensive financial experiment
ever undertaken in the history of nations
anu, anu ne asserted that one probable result
would be the locking up of all the green
backs thus bringing about r reduction of
me volume of the currency Which the re-
puoncanS would not. as representatives,
The final question, Mr.. Crisp said. was.
could the United States single and alone
tanning IL successfully, the free coinage of
silver. He believed that it could despite
an the assertions to the contrary and
proofs brought forward to support IL M
Crisp said it was a great historical fact
thaC france, for a period of 20 years d id
MAINTAIN the parity between the bullion
ana coinage values of silver practically un-
changed. If 1t be conceded that an inter-
national agreement could restore the old
ratio between gold and silver, he said
then, 1t was conceded that law could AFFECT
values and the practical question was not
Whether all power was behind the move
ment, but how much power. (Applause)
Mr.. Crisp quoted from the late Secre-
taIy Manning to prove chat it was possi-
bic for the United States to restore and
maintain silver coinage. THAT was in
The days before it had been discovered
that law has no power to affect values >"
(Applause.) Senator Sherman, then Secre-
tary sherman, had stated that in a gov
ernment like ours it was always a good
thing TO obey the popular will. And why
should it not be?'' Mr.. Crisp asked.
turUher quotations were made from Mr.
Sherman's speeches and letters by Mr.
Crisp, to show, he said, "the reasonable
ness and propriety of our contention" In
one of them Mr.. Sherman had said that
Wherever the difficulties in the way had
been removed by the united or separate
action of the great commercial nations
the old relative ratio between the two met
ais VIII nave been more firmly established
than ever
He did not believe" commented Mr.
Crisp, lin the modern theory that law
cannot affect values, and that other one,
that this country cannot alone undertake
the free coinage of silver" (Applause)
The United States needed more money,
SAID Mr.. crisp, than any other two or
three nations, relatively and in bulk. The
statement that 80 per cent of the finan-
cial transactions in the United States were
conducted without the use of money he
denied. The controller of the currency
who could not be considered anything but
a friend of the gold standard, said in his
annual report that 41 per cent of the
transactions in this country were based
upon the actual transfer of the money, in
stead of per cent. as had been claimed
That percentage, Mr.. Crisp said, Demon
strated the absolute need of the people for
more money. What the friends of silver
asked was that the old conditions be re-
stored, that the United States undertake
for itself and MANKIND Wflat France. great
ly inferior to this country, maintained for
a period of 20 years; that the law be OBJ
served in the exercise of an option in favor
of the people in the transactions of trade
and finally, that the owner of 371A grains
of silver may take it to any mint in the
country and receive for it a dollar of
American money.
If we return to the condition of our
fathers, and return to the financial inde-
pendence of the nation, we may not only
hope that prosperity will again beam upon
us as a people, but that 1t will continue
10 be our portion" (Applause)
Mr. Turner Mr.. Crisp's political col
league on the committee, and a repre-
sentative from the same state, followed
the ex-speaker in opposition to the Sen
ate substitute. Describing the situation
Mr.. Turner said the Senate had sent the
House bill back with all its provisions
stricken out and a substitute inserted
for which they would better have sent a
scheme for the annexation of Mexico, sill
yer and all. He was opposed to the free
coinage of silver for the reason that all
human experience showed that the intro
duction of a cheaper or inferior money
was always followed by the departure Of
the better money. Proof of this Mr.. Tur-
ner found in a brief review Of the move
ments of money in the United States since
| n first began to coin it in 1872.
Coming then to the main question, Can
] +ata a al "a in