Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1896-05-19
BEFORE TAKING.
GREAT SPEECH OF SECRETARY
CARLISLE BEFORE HE TOOK A CAB
MET POSITION.
Unanswerable Arguments in Favor Of
silver Coinage and against Sherman
ism, Feb. FL, 1878.

On the Senate amendments TO the bill tH. R
NO, 1Os3) to authorize the free coinage of the
standard silver dollar and to restore its
legal-tender character.
Mr.. CARLISLE said:
Mr.. SPEAKER: 1t is not my pur-
pose now to discuss the general ques-
ton involved in the proposition to re-
monetize silver by restoring it to the
coinage and making the silver dollar
a unit of value and legal tender in
the payment of debt. | had intend
to say something upon the subject if
extended debate had been permitted
by the House, but under the present
circumstances / shall confin envy re-
marks strictly to the amendments
proposed by the Senate and reserve
for future occasion, if one should
occur, what l have to say concerning
the principal matter of controversy
between the advocates and opponents
of reconciliation.
The gentleman from Ohio Mr..
Ewing has taken gloomy and des-
pondent view of the situation in
which these Senate amendments, if
concurred in by the House, will leave
the question of reconciliation and Fl.
nancial relief. He anticipates no re-
lief whatever from the passage of the
measure in its present form, and he
intimates very clearly that in his
opinion it would be simply a fresh
triumph of the wrong over the right,
"of the money power over the peo-
pie" do not agree with the gentle
man in these views, and / think it can
be clearly shown that they are the re-
suits of total misconception of the
true meaning and effect of the pro-
posed amendments, especially the
second one, it will be necessary to
consider for a moment the provisions
of the original bill as it passed this
House. Omitting the repeal clause
at the end of the bill, which was al
together unnecessary, it contained
only three substantive propositions.
The first was that there should be
coined at the mint of the United
States silver dollars of the weight of
4l2a grains troy of standard silver;
the Second was that such dollars,
together with all silver dollars hereto
fore coined by the United States OF
like weight and fineness, should be
a legal tender, at their nominal value
for all debts and duties, public and
private, except where otherwise
provided by contract; and the third
was that any owner of silver bullion
might deposit same at any United
States mint or assay Office and have
it coined into dollars for his benefit
upon the same terms and conditions
as gold bullion is deposited for coin
age under existing laws. The Senate
has not touched either the first or
second proposition, except to make
slight verbal alteration in the Sec
ond, which does not in fact change
its meaning to any extent. But it
has struck out the free-coinage clause
entirely and substituted in its place a
provision which requires the Secreta.
~ of the Treasury to purchase the
silver bullion on account of the Gov
eminent and have it coined at the
rate of not less than 100000 worth
nor more than 100000 worth per
month.
This is the amendment which fills
the minds of some of our friends
with such gloomy forebodings and
excites such fierce and determined
spirit of opposition that there is dis
posure among some of them to de-
feat the whole measure rather than
accept this as a part of it. Now, sir,
while this amendment is Objectionable
to me III some respects, l am constrain
ed to say that it is not 30 on account
of its reputation of the free-coinage
provision of the original bill; and l
will state as briefly as possible the
reasons which compel me to take this
view Of the subject.
Prior to the l4th day OF January,
we did not have unlimited free-coin-
age of either metal in this country.
1.-THE old silver dollar. of 412t grains
had been dropped Rom the coinage
by the act of February, IL, 1873, and
had been entirely demonetized by the
adoption of the Revised Statutes in
June, 1874, while the legal charge for
converting standard gold bullion into
coin was one-fifth of ] per cent.
Free coinage of gold was provided
for by the second section of the re-
sumption act and was one OF the de-
vices adopted by the promoters and
managers of the destructive scheme
to make it popular with the bullion
dealers and to increase the produc.
ton of gold coin with which to re-
deem and destroy the legal-tender
notes.
The first section of the act which
allowed the free coinage OF gold
n. .AH c..1 no Sn0rofo VI