The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1896-02-21
SILVER is SILENCED.
Free Coinage Substitute Over
whelmingly Defeated.
VOTE RESULTED 90 TO 2l5
Sound Money" Forces Cheer
the Announcement.

Washington, Feb. 10. The pub
lie and private gallaries of the
house were thronged today in an
ticipation of the debate on the
senate tree coinage substitute for
the bond bill.
Mr.. Dingley, chairman OF the
ways and means committee in
sisted on the regular order as soon
as the journal had been read, under
the arrangements made yesterday
One hour was allowed each sid
for closing.
Mr.. Crisp, representing free sill
yer, said this was an economic
question, and no matter what views
the members might have enter
tanned in the past, he assumed that
in casting vote today each mem
Der would do so conscientioIsly, in
accordance with the dictations OF
his convictions. Mr.. CrispTopened
his argument proper with the
familiar words, I'm 1873 congress
demonetized silver. Prices were
fixed kby the amount of primary
money in the world. If the stand
ard in England was gold, France
silver and China silver, the
measure of values would be COM
bined against both gold and silver
circulating as money"
He read from the statement Sem
ator Sherman made in 1876, that
the demonitization Of silver had
caused the reduction Of its price
and created q mad scramble for
gold on the part Of England, France
and Germany, which appreciated
its price and induced fall Of
prices throughout the world. That
fall of prices, Mr. Crisp asserted,
was largely due to the demonetiza-
tion Of silver. He read from Bal
four's speech on the 9th inst, in
the English parliament, attributing
the decline of agriculture in gold
countries to the appreciation of
gold and the artificial advantage it
gave silver countries. Balfonr also
declared the obstacles to reform
came not from abroad, but were
put forward at home. Mr.. Crisp
affirmed the existence of a we'll de-
fined purpose by those in authority
at home and abroad to depress the
price Of silver in order to prevent
its remoEetization. He cited the
mannerin which the Bland Allison
act of 1878 was executed. the coin
age of the minimum amount under
the act and refusal of the treasury
after a few months to coin silver
under the act Of 1890. He cited
Secretary Carlisle's refusal to give
silver for gold in 1893, because sill,
yer was needed for the redemption
of treasury notes, and his course a
few months afterwards of redeem
ing those notes in gold. "What
kind Of juggling is thatY' he asked.
"What sort Of friendly treatment
is that2" Applause.
He then directed his attention to
the manner in which the parity
between metals had been main
tanned. Every obligation, govern
ment bonds, greenbacks and
treasury notes was payable in coin.
If that was not true, and they we're
gold obligations, why did not tho q
who believed it have the courage to
say so, and save a tax-riddeD
people millions of dollars? In
February, 1895, congress could
have saved the people $16,000,000
interest by authorizing gold bonds.
Congress refused" said Mr..
Crisp. I'VE paid sixteen millions
for the privilege of paying in sill
yer, and now you attempt to deny
our right to do So" lApplause.
"Mr. Speaker" said Mr. Crisp,
continuing, "a few days ago our
condition was pitiable. The great
est nation in intelligence and trade,
we had just applauded to the echo
the presidents message, warning
European powers that they would
not be permitted to secure lodg.
ment on the American continent.
The echo of the applause bad hard
" ceased before the administration
with shaking knees was hysterical-
" calling on congress for help. It
was feared that Great Britain
would take out our gold. We we're
helpless in the face Of the enemy.
Yet you want that condition per-
petuated."
Criticising the bond bill, he de-
clared its purpose was to impound
greenbacks, and to do indirectly
what the majority dare not do di-
reotly. It was a plan to retire all
greenbacks by holding them in the
treasury at the cost Of outstanding
interest bearing bonds. plan which
Carlisle bad characterized as the
"most remarkable experiment sug.