The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-02-14
TWO CENTS.
CLOSING THE DEBATE.
End of the Disc cussiOn of the Free Coinage
Substitute in the House.


Substitute in the House.
WASHINGTON. Feb 14.-The public and
private galleries of the house were
thronged today in anticipation of the
closing of debate on the senate free coin
age substitute for the bond bill.
The attendance on the floor also was
very large. Mr.. Dingley, chairman of the
ways and means committee g. insisted on the
regular order as soon as the journal had
been read and under the arrangement
made yesterday one hour was allowed
each side for closing.
Mr.. Crisp (Dem., Ga.) representing
free silver, said this was an economic
question, and no matter what views the
mem bers might have entertained in the
past he assumed that in casting his vote
today each member would do SO con-
scientiously in accordance with the die
tates of his convictions.
He quoted Baron Rothschild's state
ment that prices were regulated by the
aggregate amount of the circulation, gold
and silver
Prices were fixed by the amount Of
primary money in the world. If the
standard in England was gold, in France
silver and in China silver the measure OF
value would be the combined amount of
both gold and silver circulating as money
Here he read from statements made by
Senator Sherman in 1876, that the de-
duction of its price and had created
mad scram BILE for gold on the part OF
England, France, and Germany which
had appreciated it's price and had
induced a fall in prices through
out the world. The fall of prices
Mr.. Crisp asserted, was largely due, he
would not say wholly to the demonetiza-
tion of silver. 1t was not the fall of
prices that was complained of, but the
constant and steady fall of prices due to
the constant appreciation of golo-
"Mr. Speaker" said he continuing, ,''a
few days ago our condition was Pitia bic.
The greatest 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 lodgment on the
American continent. The reverberation
of that applause had hardly ceased be-
fore the administration with shaking
hands was Historically calling on con-
gress for help. 1t was feared that Great
Britain would take our gold. We were
absolutely helpless in the face OF the
enemy; yet you now want that condition
perpetuated." >" ]Applause-l
Coming down to the practical ques-
tions, whether the United States, lnde-
pendently, could maintain with free coin
age the parity between gold and silver.
He said France had maintained the
parity for seventeen years.
As to the ability of the United States
to do so alone. the example of France, a
country infinitely inferior in wealth
and trade to US, must be borne
in mind. Our commerce., internal and
external exceeds that of England,
Germany and France combined and our
resources were as vet undeveloped. Our
population exceeds either of those three
countries If our mints were opened 10
the free coinage of silver, the CONNER
cial value of the metal would bs
equal to its legal value in this
country, because any one having
412@ grains could bring it here and get
a standard silver dollars worth of com
modities. In this connection, he went
somewhat extensively into figures to
show that there had been no over pro-
duction of silver.
In conclusion Mr.. Crisp declared that
if the United States would but assert its
political and financial Independence,
prosperity would return and continue the
perpetual heritage of our people.