Birmingham state herald., 1896-02-15

on the Jtn or the month WlIn A. J. ESLi- four, the first lord of the treasury in Sal isbury's cabinet, and from the queens speech delivered on the 11th. There was no probability, MT. Crisp said, in view of Balfours declarations, that England would assent to any international agree ment for free coinage. And he was Of the opinion that nothing substantial could be looked for from any government. The treatment of silver 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 1873 and the policy of the treasury de- partment from the time of the reSump- ton of specie payments, and charged by whomSoever administered the treasury department had played the part of wet nurse to silver" seeking to endeavor to maintain it in the markets of the world and thereby discrediting it.
 Referring to Secretary Carlisle's refusal to change silver for gold, because he must retain the silver to support the treasury notes issued under the act or 1890, and yet when one of these notes Is presented he redeems it in gold," Mir Crisp exclaimed: "What kind of juggling is that with the American people? What
 kind of friendship for silver is that?' (Applause)
 Tt is not the coinage of every ounce Of silver which gives it it's value," said the speaker, but the right of every ounce of silver in the world 10 be coined. tAp- plause) Were that right restored, he claimed, the old parity of the two metals would speedily be restored. MT. Crisp said that if gentlemen on the republl- can side believed that the obligations or the government should be paid in gold they ought to have the courage to say so. But they would not do so. When the
 president sent his message. to congress last winter asking that he be empowered 10 make the bonds which he had con tracted to sell the syndicate payable Tn gold, for the reason that if they were so made the United States would receive $16,0O0. 900 more interest than the pur- chasers would pay for ''coined bonds. the representatives of the people refused to give him the privilege he asked. Do you say now asked MT Crisp, 'that having paid SIG, ,OO0, 900 for the privilege of paying the bonds in silver, we shall not do so?" (Applause.) The dust had been ra sed by the money dealers themselves; they asked congress to remove the doubt ip their interest and offered to pay S16,- 900 000 for favorable decision. But. having reached a different decision, con gross was told: You must not pay the bonds in silver, because if you do you will trail in the dust the financial honor of the country" (Applause)
 MT. Crisp said that the country was not likely to receive any substantial relief. because this republican congress was do nothing congress. Q.aughter.) That was the platform upon which it was proceeding. The present prefer ment of the specially preferred creditors of the treasury by which they received gold for their claims, he said, was the deliberate surrender by republican secre- taries of the treasury of the optional rights of the government. which had been followed, he regretted to say, by the democratic officials. The maintenance of the parity of the two metals was the declaration of the Shermsn act of 1890. The Bland-Allison act contained no pro- vision on the subject.
 Referring to the "endless chain," MT. Crisp said the government was enga ged in the most expensive financial experi- ment ever undertaken in the history of nations, and he asserted that one prob able result would be the locking up of all the greenbacks, thus bringing about re- duction of the volume of the currency. which the republicans would not, as re- publicans, vote to do.
 The final question, MT. Crisp said, was, could the United States, single and alone, undertake with legislation and maintain successfully the free coinage of silver? He believed that it could, despite all the assertions to the contrary and proofs brought forward to supportit. MT. Crisp said 1t was a great historical fact that France, for period of seventy years. did maintain the parity between the bull lion and coined value of silver practically unchanged. If it be conceded that an in- ternatonal agreement could restore the old ra tio between gold and silver. he said. then it was conceded that law could af- feet values, and the practical question was not whether all power was behind the movement. but how much power (Applause)
 MT Crisp quoted from the late Secreta- ny Manning to prove that it was possible for the United States to restore and maintain silver coinage. That was in ha do hnf rn6 that law has no power to affect values" (Applause)
 Senator Sherman. then Secretary Sherman, had stated that in a govern ment like ours it was always good thing to obey the popular will. And why should it not be-"
 MT Crisp quoted further from MT. Sherman's letters and speeches to show, he said, "the reasonableness and propri- ety of our contention" In one of them MT. Sherman had said that whenever the difficulties in the way have been re- moved by the united or separate action of the great commercial nations the old ratio between the two metals will have been more firmly established than ever"
 "He did not believe" commented MT. Crisp. "in the modern theory that law cannot affect values and that this coun- try cannot alone undertake the free coin age ef silver" (Applause)
 The United States needed more money, said MT. CTlSp, UTAH any VtHeT lWO UT three nations relatively and in bulk. The statement that 95 per cent of the financial transactions in the United States were conducted without the use of money he denied The comptroller of the currency, who could not be called anything but friend of the gold standard, said in his annual report that 4l per cent of the transactions in this country were based upon the actual transfer of money, in- stead of per cent, as had been claimed That percentage. MT. 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 under take for Itself and mankind what France. greatly inferior to this country. main- taned for period of seventy years: that the law be observed in the exercise of an option in favor of the people in the trans actions of the treasury department, and finally that the owner of 371A grains of silver may take 1t to any mint in the country and receive for 1t dollar of American money.
 'If we return to the conditions of our fathers and return to the financial in- dependence of the nation we may not ,t,ot tu a pa in 10