The Camden chronicle. (Camden, Tenn.) 1890-current, 1896-02-28
THE HOUSE VOTED
AND THE FREE COINAGE SUB
srIrUTE WAS DEFEATED.
The Vote Was 2t0 60 0O-BriIliant
Speeches by Crisp aud Turner.

7RNNohtH ~ AriHn nmd IufnoFs
The public and private galleries Of
the house we're throngod Friday in an
ticipation Of the closing Of the debate
on tho senate free coinage substitute
for the bond bill.
The attendance on the floor was also
very large. Mr.. Dingley, chairman
Of the ways and means committee, in
Plated on the regular order as soon as
he journal had been read aud under
the arrangement made Thursday, one
hour was allowed on each side for clos
ing.
Mr.. Crisp, democrat, Georgia, re-
presenting free silver, said this was an
economic question and no matter what
views the members have entertained
In the past, be assumed that In casting
, his vote today each member would do
= 90 conscientiously in accordance with
the dictates Of his convictions.
Mr.. Crisp opened his argument
proper with the familiar words: "In
1873 congress demonetized silver" AT
the very threshold Of the subject, no
said, this was denied, and il was also
denied that up TO 1879 We had had BIZ
metallism in this country. He quoted
Baron Rothschilds' statement that
prices were regulated by the aggregate
amount OF the circulation, gold and
silver. Prices were fixed by the
amount of the primary money in the
world. II the standard in England
was gold, in France silver and in China
silver, the measure of values would be
the combined amount of both gold aud
silver circulating as money.
Money was the thing for which all
commended and the sum Of the demand
for that metal which would be created
among all the people and its value
would necessarily increase with the in
creased demand.
he read from statements made by
Senator Sherman in 1876 that the de-
monetization of silver had caused a
reduction of its price and had created
a mad scramble for gold on the part
of England, France and Germany,
which had appreciated it's price and
had induced a fall in prices through
out the world. That fall Of prices,
Mr.. Crisp asserted, was largely due,
he would not say wholly, to the de-
monetization of silver. It was not the
fall of prices that was complained Of,
but the constant and steady fall oil
prices due to the constant appreciation
of gold.
He read from Mr.. Balfour's speech
of the the 18th instant in the English
parliament attributing the decline OF
agriculture in gold countries to the
appreciation Of gold and the artificial
advantage it gave to silver countries
Mr.. Balfour had also declared that the
~ obstacles to reform came not from
abroad but were put forward at home
Mr.. Crisp affirmed the existence o
a we'll defined purpose by those in au
thority both here and abroad to de
press the price of silver in order Il
prevent its decentralization. He citeC
the manner in which the Bland-Allisol
act of 1873 was executed, the coinag
of the minimum amount under the &C
and the refusal of the treasury after
few months to coin silver under the &C
of 1890. He cited Secretary Carlisle
refusal to give silver for gold in 1893
''because the silver was needed for th
redemption of the treasury notes" an
his course a few months afterwards i
the redeeming those notes in gold.
"What kind of juggling is this?
he asked. "What sort of friendl
y treatment of silver is this ?" (AI
plause.)
He then directed his attention to th
manner in which the parity betwee
the metals had been maintained. Ever
obligation of the government, bond
greenbacks and treasury notes, VIZ
payable in coin. If that was not tru
and they were gold obligations, VIII
did not those who believed that hay
the courage to say so and save the ia,
ridden people millions in interest.
In February, 1895, congress cou
have saved the people SIG, 100000
interest by authorizing gold bonds.
"Congress refused, " said Mr.. Girls
|'We paid sixteen million for the pri
ilege Of paying in silver and now yc
attempt to deny our right to do so.
(Applause.)
Criticising the bond bill he declare
that its purpose was to impound Il
ereenbacks and do indirectly what Il
majority dare not do directly. 1t W
plan to retire all the greenbacks
holding them in the treasury at 4
cost Of outstanding interest bearil
bonds, a plrn which Mr. Carlisle HI