Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-01-30
A SILVER SPEECH.
RltChsll Addresses The Senate Oh
That Subject,
THE CAUSE or ALL OUR TROUBLES
And the Remedies TO DO Applltd-Iu.
crease the Value Of Oar
Exports.

WARRINGTON, Jan. 80. - Senator
Mitchell Of Oregon addressed tho sem
ate on the free coinage bill. Tho fol.
lowing Ia n synopsis OF his addresei
SEN. MtrCrELL's Address.
MIR. Mitchell said that the question
presented was whether Il was meets.
sary to Increase the bonded indebted.
meas to maintain the gold standard or
Ivy a greater use Of silver, restore u to
its primary place as money Of the Con.
stilutlon.
Mitchell pointed on, that our foreign
indebtedness during the past twenty
i've years hRi greatly increased, not.
withslandlug the fact that during that
lime there wuu a balance Of trade ia
our favor In merchandise Of 81 ,758. 800.
600, besldes silver exports OF S3sj,3ll,.
625, aud gold exports OF s2Il ,lgi,79l.
"rhe cau0e," said Mitchell, "is this
vast balance Of trade IN our favor dur
ing this period In merchandise, gold
and silver has gone TO foreign lands,
m0aty TO Europe, 10 meet the expenses
OF freight charges in cur carrying
trade, 10 pay In tho interest Of our
foreign Indebtedness aud tho Ca
punscs OF travel Oi Americans Ia
Europe. rhis Ia the manner the debt
has been created anu " constantly ao'
cumulating aud we are unable 10 meet
the interest, much less the principal,
for the simple reason OF the great de-
preston la the value Of our exports
since 1873.
"rhcre ia In my judgment two reno.
dies 10 ba applied. Fitsi, our shipping
laws must DO amended, uar merchant
marine must DO encouraged aud built
~, aud We must become our own car.
rlurs; and, secondly, we must legislaio
10 increase tue value OF our export
comm )dilles NO As to enable us % meet,
reduce and, II possible wipe out the
dett which to-day makes the people
Of this country virtually slaves 10 the
! money Lenders Of Great Britain. We
| must reduce our expenses AMI instead
Of Issuing new bondf, stop incutring
obligations abroad anu increase, " pos.
Including silver, with which ~ meet
this Indebtedness.
Mitchell discussed at some length
the competition OF China aud Japan
with the United States.
at IL incredible" said the senator,
"lhat tho people cannot ho made 10
Tealizb tho great transparent TACT, 90
absolutely apparent, that tho eiocl OF
tho operation OF the singls gold stand-
ard 10 10 bring our labOrers, our manu-.
faclurcTs, our artisans anu our farmers
AZ vol into direct and ruiuous COM
petition with the laboTers, tho manu-.
iacIufors anu artisans and this farmers
OF every silver standard, silver using
country In the world.
eve have rs nation proclaimed
loudly anu properly and iegIslAted
vigorously ana wisely against Chinese
immigration, but We KTs threatened
today, aud especially IL this 10 with
reference 10 tue Pacific coast states md
Territories, with All industrial Toe, n
mighty, uesolating army, In compari-
aon with which Chinese immi-
grafton Ia an evil Llllipuliau
In character; and this state OF
things IL not only made possible by the
destruction OF blmotnllism In this
country and blythe practical operatlon!of
the single gold standard, but 10 actually
| KtntIhkeht lhhg
encouraged aud sustained by the mono.
metallic gold policy"
lilo said this was 20 "because the pur.
chasing power OF silver IN all silver US.
Ing. c1u ulTiea has not deprecated. III Is
ms great today as ever before, The puf.
chasing power OF silver bullion even
In this country, IL us great now a. ever
at any time Ia tho past, Their stan
dRrd OF value 10 silver Tho yen OF
Japan and ths tael OF China 20 Just "A
far la paying wages, In ulliDg the
ground, In the manufacture Of aud IN
operating machinery, In hsTding sheep,
In growing cattle, In manufacturing
cloth IA ever they did at any time here
tOfOrs, whereas gold lin the single
gold standard, gold using Countries,
has appreciated, n, compared with eii-
yer 100 per cent. Their products,
their goous, therefore are prepared for
the market, even were there no differ
ence Ia the cost OF labor Ia the two
countries arising out OF diverse National
and climatic conditions, oil Just one
half what II costs 70 produce the same
articles In the gold standard, gold using
countries. What Ia the Tesult2 They,
the Chinese and Japau0se, this people
Of south and Cenlral America, can
afford, without ttenchiug on their
profile, TO sell the produce Of their
iarms, or their shops, or their factories,
TO the people Of u gold standard, gold
ualng country, ;Or lust one-hgli the
price IN gold they wOu!a nave been
compelled ~ sell Tor " bimeIallism hg4
been maintained anu the obstruction
OF the parity value between this two
monies hai not be0u brought about by
| a FIamnnaIlEaAInn.D
Mitchell described the great In.
dusttial development Of japan. AS to
the bond bill, Il came from tho house,
he said, 81 decline TO give further
authority to the secretary OF the
treasury 90 Issue additional bonds Ia
tine OF peace. First, because deny
the necessity Tor any such additional
issue; secondly, because 1 am unaltera-
bly, opposed 10 further increase Of our
intereat bearing public debt; GhiIdly,
because In encouraging an additional
bond Issues AZ any rate OF Interest, 1
believe | am instead Of sustaining the
pubic credit, Fastening the
rapid approach Of national bankruptcy;
and, fourthly, htcluse | am ltepubli-
can anu every Republican convention
OF every safe In the Union which has
convened IN the last year has con-
domued In emphatic terms the present
administration for Issuing bonds and
thus increasing the national indebted'