St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-04-01
THE FINANCIAL QUESTION DE
BATED BY THE TWO DEMO-
CRATIC LEADERS.
SECRETARY AGAINST SILVER
1T WAS WHITE METAL MONO.
METALLIsM, HE SAID, THAT
HE OPPOSED.
ovATroNs FOR BOTH SPEAKERS
Opera House at Augusta Crowded by
Those Anxious to Hear the
Debate.

AUGUSTA, Ca, March 31.-No polit-
ical event has so stirred the city of
Augusta and its surrounding territory
as the financial debate between Sec
retary Hoke Smith for sound money!
and ex-Speaker Charles F. Crisp. rep
resentlng free coinage, which occurred
here tonight. The day was a gala
one, Smith and Crisp holding informal
receptions at the Arlington hotel all
the forenoon. Excursions were run into
the city on all roads from points with
in a radius of seventy-five miles. The
city assumed a holiday appearance.
The debate took place in the Grand
opera house, which seats $500. AS
early as $50, people began to gather
waiting to get in, many bringing large
palmetto fans, the thermometer regis
tering 80 degrees. At o'clock the
building was unable to accommodate
the mass that desired admission, many
having to return home. On the stage
were the governor of the state, many
prominent state officials and 600 rep
resentative men of the city and state.
The opera house was profusely deco
rated
After short introduction, Chairman
Daugherty, of the county executive
committee, who stated the terms of
the debate introduced Mr.. Crisp, who
spoke as follows:
Mr.. Smith and myself are both Demo-
Gratis; we both expect to earnestly and loyalty
stand by the Democratic nominee, but Just
now the policy of the Democratic party is
to be formed, and Mr.. Smith and l differ on
one important question. We differ about
money. There are certain principles relating
to money which at the outset you should
clearly understand. If you will bear in mind
that the value of money is regulated by the
demand and supply of its exchange for COM
modify you will have taken the first step in
determining this great financial question"
After reviewing the history of financial legis-
lation in this country up to 1873. Mr. Crisp
added: Up to this time there was no great
divergence in the ratio of the two metals,
sometimes one would be worth a little more
and sometimes another. In 1873 the United
States demonetized silver. why it was doae
mo single gold standard advocate is old
enough or truthful enough to recoifect There
are none of them who will boldly tell you
why. The real reason was to decrease the
amount of money and increase the value of
the money which was left. (Applause) No
man can, in the face of all these things go
before the country and say that he advocates
the single standard of gold and hope to gain
the support of a majority of the people of
the United States. Great applause)
In 1878 the Bland-Allison law was passed.
and gave us a little help in arresting the
falling prices. In 1890 the Sherman law was
passed. and it advanced prices a little. In
1893 that was repealed, and say that money
is decreasing and commodities increasing
In the last twenty years every industry has
slowly but markedly decreased in regard 10
the prices obtained for the output.
IF you want to favor a safe government
If you want to have equal rights for all and
discrimination to none, then you want to go
along with those of us who wish to restore
bimetallism to this country. If four nations
could make ratio and keep it, one country,
which is equal in commerce to the four, could
do it. The four cut. no figure" Mr.. Crisp
closed by reading statistics regarding the
number of manufacturing and other indus
tries in the United States, and how much
larger they were than the European coun-
tries. His speech was applauded for fully
three minutes.
SECRETARY SMITHS SIDE.
When Mr. Smith was introduced the re-
ception was equally as enthusiastic as that
rendered to Mr. Crisp After thanking the
people for their invitation to him, he said:
"It is not my intention to say anything
that will hurt any one who dsagrees with
me- 'Tis- but right that we should coun-
sci together and find out what is right. In
opposing the free coinage of silver, / want
you to distinctly understand that l make
no fight on silver final payment and
as legal tender. When we oppose this plan
of free coinage at 16 to l. we believe its
advocates understand it's effects. We op-
pose it because we do not believe that it
will give you what you want. The advo-
Gates of free coinage mislead you when
they say that we wish to contract the cur
rency and that we do not wish silver dol
lars to be legal tender. The gentleman
reports Mr.. Cleveland (appiause) as saying
that there is difference between currency
and standard, but the gentleman miscon-
ceives it. A currency be checks, due
bills, silver or greenbacks, but standard
is a measure. Suppose that there were
such law as to allow you to coin thirty
grains of silver into dollars to twenty
grains of gold into a dollar, do you think
that you would carry your twenty grains
to be made into a dollar when you could
exchange it at the jewelers. shop for sixty
grains of silver, enough to coin into two
dollars? No; the gold would not be coined.
l am here tonight not to fight, bimetallism,
but silver monometallisnl. (Applause.)
1t is the actual value of the dollar Of the
credit OF the country which puts the value
on it, which makes the dollar. Thomas JEFF
ferson, wtcn the two metals were made mon
ey in the United States, found that gold was
worth fifteen times as rauch as silver, and
he then made @iat ratio; now the difference
which the free coinage advocates wish to
make is so per cent. They want 16 to / when
gold worth thirty times as much as silver.
Applause.) 1 am we'll aware that it is
easier to eaptivate an audience by reference
to Wall street and Lombard street than it is
to present solid. facts. My friend played to
the prejudices of the Populists in this dis
trict, and l have no doubt it was only they
who applauded He ought to do better than to
play the low prejudices Of some people.
Q.oud applause.) Those gentlemen who wish
to rob tie people have absolutely coined in
the past three years 100000 silver dollars.
We have coined more subsidiary silver in the
past three years than in any three years sincs
the government began. (Applause.)
Tho silver idea is undenocratic; it is un-
like Jeffcrso2's teaching; it is unlike JACK
sons teaching; it is unlike the teachings OF
Grover Cleyeia2d. prolonged applausc.) It
is mere Ike the doctrine or Mr. Jones ot
Nevada, Mr.. Bryan OF Nebraska and Tom
Watson OF Georgia The workingmcn Of
Fulton county are my friends and God knows
that would rather put nay arm in the fame
Cuhtfnucd on FOurth Pnxe