The Red Cloud chief., 1896-02-21
REJECT SUBSTITUTE
FREE SILVER GIVEN A
DEATH BLOW.
By n Vote Of 2tG To 90 the senate subs,i-
tutc for the isond Biu IL Refused E,-
Speaker Crisp Makes tn. Final RIGA for
the White Metal.

nays ueDatc the rouse bv u vote OF
so to 100 in committee OF the whole
rejected the Senate free coinage
amendment to the bond bin ana re.
ported the bill to the House with n
recommendation to n~on.coDcur and
insist on.thc House bill. The strength
developed by the silver men was dis
appointing. They had been confidently
claiming over 100 votes. After two
hours debate to-day the final vote
will be taken. Mr.. DiDglcy will close
for the majority aud Crisp for the
minority.
WASHINGTON. Feb. I3.-Thc public
and private galleries Of the house
were thronged to-day in anticipation
of the closing of the dc bate on the
Senate fec >)inagc and substitute for
the bond bill. The attendance ON the
floor was also very large.
AT j p. ~. tir House rejected the
Senate free silver substitute FOR the
House bord bill by Il vote of 90 nays
against 90 yeas
Mr.. Crisp, of Geo:yia, representing
free silver, said this was an economic
question and no matter what views
the members might have entertained
in the past, he assumed that in cast
ing h's vote to-day each member
would do so conscicntious,v and in
accord with the dictases of his con
victions. Mr.. Crisp opened his argu.
ment proper with the familiar words:
''In 1873 Congress dcmonetiYed silver"
A tl., ,A.,. tl.l-ll II IL III
he said, this vas denied and il was
also denied h "a up to 1913 we had had
bimctallism in this country. lie
quoted Baron R~othschilds statement
that prices were regulated by the
aggregate amount of the gold and
silver circulation. Prices were fixed
by the amount OF 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 and
silver circulating as money. Money
was the thing for which all contcnded
and the sum of the demand for money
was equal to the demand for all things
else on earth. If a metal was made
money 10y law a demand for that metal
would be created among all the peo-
pie and its value would necessarily in
crease with the increased demand.
Here he read from statements made
by Senator Sherman in 1876 that the
characterization of silver had caused Il
reduction of its price and had created
"a mad scramble for gold on the part of
England, France and Germany, which
had appreciated its price and had in
duced a fall in prices throughout the
world. That fall Of prices, Mr.. Crisp
asserted. was largely due to the de.
monetization of silver. II was not the
fall of prices that was complained Of.
but the constant and steady fall Of
prices, due To tie constant apprecia-
ton Of gold. lie read from Mr.. Bal
tours speech of the 18th inst. in the
English Parliament, ~attributing the
decline of agriculture in gold countries
to the appreciation OF gold and the
artificial advan cages il gave t. silver
countries.
Mr.. Baifour had declared also that
the obstacles to reform came not from
abroad but were put forward at home.
Continuing, Mr.. Crisp affirmed the en-
istencc of n well defined purpose by
those in authority. both here and
abroad. to depress the price of silver
to prevent its reconciliation. lie
cited the manner in which the Bland
Allison act of 1873 was executed, the
coinage of the minimum amount under
the act and the refusal OF the treasury,
after "A few months, tn coin silver
under the act of 1891. He cited Sec
rotary Carlisle's refusal To give silver
for gold in 1898. because the silver was
needed for the redemption of the
treasury notes. and his course some
months aftcrward in redecming those
notes IN gold.
What kind Of juggling is that
Mr.. Crisp asked, What sort of friend
ly treatment of silver is that?" ZAP.
plause.)
Coming down to the question
whether the United States lndepen-
IDENTIFY could maintain with free coin
age the parity between gold and sill
yer, he said thai there was no differ
ence of opinion that it could bc accom-
plished by an international agree
ment As an historic fact France had
maintained the parity for seventy
years, IL four or five countries could
maintain "a parity il was conceded
that law could affect the result. How
powerful must q State be, then, 10
affect that result?
In conclusion Mr.. Crisp declared
that il the United States would assert
its political and financial indepen-
dcuce, prosperity would return and
continue the perpetual heritage OF
our people,
Mr.. Crisp spoke an hour and a half,
and was literally applauded when he
sat down.
Mr.. Turner OF Georgia, Democrat.
was then recognized. lie spoke for
sound money.