Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-04-03
THE SM|TH-CR|SP DEBATE
Six Thousand People Turned
Out to Hear Them.
1T WASA LIVELY MEETING
Mr.. Crisp Made Much Sport of His Opponents
Financial Record
AND KEPT HIS AUDIENCE LAUGHING
Secretary Smith Failed to State What REM
edy He Proposed for Existing Evils,
as He Promised to Do in the
Previous Debate.
AND KEPT HIS AUDIENCE LAUGHING

Atlanta, Ca, April 2.-Ex-Speaker
Charles F. Crisp and Secretary Hoke
Smith held the second of their series of
Joint debates here tonight. The speaking
occurred at the Moody tabernacle be,
fore an audience of 60O0 The night was
chilly and the building is rather open.
Both speakers soon warmed up after get
ting started, but it was cold for their
hearers.
A great many people came in from the
neighboring counties, All the railroads
gave special rates, and some ran excur-
sion trains. On the stage were many of
the best known men in Georgia. Even
the mountain districts were represented
by a contingent in jeans and slouch hats.
The audience seemed to be about
evenly divided, and it applauded both
speakers literally. though as the debate
progressed considerable rivalry in cheer
ing sprung up between the two factions.
This meeting was much livelier than
the first one Mr.. Smith devoted his time
to presenting arguments against free
coinage of silver. Mr.. Crisp argued for
a time in favor of free coinage and then
took up his oponents record on finance.
Mr. Crisp kept the audience laughing
during great part of his speech.
The entrance of the two gentlemen was
marked by loud demonstrations.
Capt. w. d. Ellis, chairman of the
county democratic executive committee,
presided, and briefly presented the speak
ers of the night.
Secretary Smith had the opening argu-
ment, He was greeted with stirring ap-
plause. In opening his speech Mr.. Smith
said that every one has direct interest
in the financial question Then he added:
II oppose the free and unlimited coinage
Of silver at a ratio Of 16 to for the same
reason given by Hon. Benjamin H. Hill
in the United States senate in 1871" The
secretary went on to say that he was
opposed to free coinage at the present
ratio because 1t would produce silver
monometallism and lead to the most ter
rible financial panic the world has ever
known He discussed the Gresham law,
and declared that the free, unlimited
and independent coinage of the two
metals at 16 to l would drive out gold.
II am opposed to free coinage because
the present commercial ratio is 81 to II
(Applause).
When the gentlemen call themselves
bimetallists they masquerade under a
coat to which they are not entitled for
the bimetallism they propose would pro-
duce silver monometallism. I'VE would
have only one Standard the secretary
reiterated.
''That is all we have now," remarked
a farmer in the audience.
II will show you that you are mistaken
before | get through. 1t is surprising
how ignorant these advocates of free sill
yer coinage are" retorted Mr.. Smith
The secretary proceeded to review the
coinage history of the United States.
The audience began to take a part in the
debate and asked questions, which made
the discussion more interesting. The
secretary said that prior to 1873 the gov
ernment had coined only 100000 silver
dollars.
How much subsidiary coin?' some one
asked.
"Quite a large sum, but we did not
stop coming subsidiary money in 1873.
and we are still coming it,"
THAT is about all that we have got" )"
commented an auditor.
The secretary gave sharp retert and
took up the history of silver coinage in
France Explaining the great produc-
tion of silver in recent years, Mr.. Smi tn
stated that it was due to the decrease in
the cost of mining the metal by 80 per
cent Since 1873 fourteen countries have
demonetized silver. If these countries
had not so acted they would have been
forced to silver monometallism.
II invite the debate on the proposition
that we cannot make 37H grains of silver
equal In value to 20 22-100 grains of gold
There is the question:.
The secretary quoted Balfour and the
report of the German monetary confer
ence of 1894, to the effect that one nation
pendent action.
Taking up the subject of falling prices,
Mr. Smith invited the bimetallists to go
back of 1873. From 1865 to 1873 cotton fell
from so cents to 16 cents pound.
We have more coin in circulation today
than we ever had before--about $22 per
capita now. Since March a. 1893, during
this present administration, which they
tell YOU Is so hostile to silver, we have
coined $7,00o000. Applause)
Our troubles came with the passage OF
the Sherman act in 1890 Distrr st pos
sessed the world. In remodeling our
currency the first thing is to say that our
standard shall not be changed. We
should restore the greenbacks In one of
two ways-by Mr.. Ciarlisle's plan. which,
If it had been adopted, would nave op-
waited the necessity of a bond issue; or
we can use the gold in the treasury to re-
deem the greenbacks and we could cancel
those in the treasury We can coin the
silver in the treasury and pay OF the
Sherman notes. We can give silver the
right of way below $40.
THE secretary also advocated state
banks very briefly. Now don't be
frightened about the amount of the bond
issues A $262000,000 bond issue Is not
appalling These gentlemen appropriate
every year $400, 200, 900.
The speaker pictured ruinous panic
In the event of the adoption OF free. un-
limited and independent coinage by this
country. He spoke of the effect of free
coinage on the wages of labor, and de-
clared that it would cut wages half in
two.
The applause for Mr.. Crisp when he
arose was prolonged. All over the house
men stood up ana waved their hats.
In the beginning he remarked:
IT want to say Of my Brother Smith
that he makes as good an argument from
his position as any man I have ever
heard" Jumping into the discussion he
said that standard money does not be-
lor to any country 1t Is the great vol
ume Of gold. and silver In circulation In
4lie world Up to 1873 we had a bimetaIiic
standard
Mr. Carlisle said. and Mr.. Smith said II
too, that Il wan . physical and meta