The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-02-01
THIN SILVER BOND bid.
Sesator Mitchell Talks on the
Measure at Length.
NO MORE BONDS WITH HIS VOTE.

us says the Republican SNEsy Il AgAins,
Asy Further Iasue Of Bonds aud
That Is whsre He stAnds-He Dis
sussss The single standard aud Gives IL
IussrAtions From silver Countries
WASHINGTON, Jan. Si.-Tho feature
Of the ssion Of the senate yesterday
was this debate upon the silver bond
bill. After Mr.. Call Of Florida, con-
cluded his speech Mr.. Mitchell Of Ore
gon. commanded the close attention OF
the senate.
Ho said tho question presented was
whether IL was necessary 10 increase the
bonded indebtedness 10 maintain the
gold standard or by a greater use Of sil'
yer, restore IL 10 its primary place as
money Of the constitution. Mr. Mitch
ell pointed out that our foreign indebt'
edness during the past % years had
greatly increased. Notwithstanding the
fact that during tho time there was
balance Of trade In oar favor In mer.
ohandise Of q. .70t. 900. 900, besides silver
exports Of ESQ. al. Gas and gold exports
Of t27l. 1907
THE cause" said Mr.. Mitchell. "is
the vast balance Of trade Ia our favor
during this period In merchandise. gol'
and silver has gone 10 foreign lands,
mostly 70 Europe. 10 meet the expenses
Of freight charges in our carrying trade,
10 pay interest on our foreign indebted
ness and tho expenses Of the travel Of
Americans in Europe This is the man
ner the A!sbs has been created and Is
constantly aooumulating and we Ar5 un.
able No meet the interest much less the
principle, for the simple reason Of the
great depression In the value Of our eK'
ports since 1874
There are. In my Judgment. tworom'
edies 20 be applied: First. our shipping
laws must DO amended, our merchant
marine must be encouraged and built
up aud we must own our own carriers
and secondly. we must legislAte to In
crease the value Of our export commodi
ties 80 a. 10 enable Us 10 meet. reduce
aud. II possible. wipe out the debt which
today makes the people Of this country
virtually slaves 70 the moneyleuders o.
Great Britain. We must reduce our ex
pensss and. instead Of issuing neV
bonds, stop incurriug obligations abroa
and increase. II possible, the valus o
our commodities. including silver, wit
which 10 meet this Indebtedness
. Mr.. Mitchell discussed, at SON
length. the competition Of China an
4 Japan with the United States.
."''It is incredible" said the senate
''tha, the people cannot be made 10 reA
, ize the great transparent fact, 20 abs
lutely apparent, that the eject Of q
,e operation Of the silver aud gold stan
3 ard Is 10 bring our lAborers, our man
faoturers, our artisans and our farme
l. as we'll into direct and ruinous compei
= ton with the laborers. the manufactu
err, the artisans and the farmers
every single standard, silver usiI
country in the world.
y, I'VE have legislAted wisely again
nm Chinese immigration, bu, we a
be threatened to-day-and especially
this so in Inference to the Pacific co'
I'm states-with an industrial foe, Nigh
desolAting army, In comparison wi
en- which Chinese immigration is on e
LilliputiAn in character; and this 81
Of things is not only made possible
- the destruction Of bimetallism In I
country and by the practical operaii
=, Of the single gold standard, but is ae
y ally generated. warmed into life, p
noted, encouraged and sustained by
monometAllio gold policy.
This was 90 because the purchase
power Of silver In all silver using co'
tries had no. deprecated. Il IL a. gr
y today a. ever before. The purchas
power Of silver bullion even In Oh
countries is as great now a. ever at j
time in tn past. Their standard
: value is silver. The silver yen OF
pan and the tael Of China go Just
far In paying wages, In tilling
~ ground, In the manufacturs Of and
operating machinery. In growing cat
. In manufacturing cloth as ever I
did at any time heretofore, whel
gold in the single gold standard, !
using countries have appreciated,
measured In silver, 100 per cent. ~
products. their goods, therefore,
prepared for the market, even wi
there is no differencein the cost Of Il
y In she two countries. arising out Of
visional and climatic conditions, '
lust one.half what Il costs 60 pro-
the same articles in the gold stand
aud gold using countries. What Is the
sulti They. the Chinese and Japar
a. the people OF south and Central A.
lea, can afford, withou, trenchine
. their profits, to sell the produ,t Of I
have farms, Of their shop, Of their facto
- x tho output Of a gold standard, sold