The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-15
dependence. prosperity would return.
Mr.. Speaker" said Crisp, continuing,
"a few days ago our condition
WAS PITIABLE.

and trade. we had just applauded to
| the echo the presidents message, warn
ing European powers that they would
| not be permitted to secure Judgment on
! the American continent. The echo of
| that applause had hardly ceased be-
| fore the administration, with shaking
knees, was Historically calling on con-
gress for help. 1t was feared that
Great Britain would take out our gold.
We were helpless in the face of the
enemy. Yet you now want that con-
dition perpetuated."
Criticising the bond bill. he declared
that it's purpose was to impound the
| greenbacks and to do indirectly what
the majority dare not do directly. 1t
was plan to retire all the greenbacks
by holding them in the treasury at the
cost of outstanding interest bearing
! bonds. a plan which Mr. Carlisle had
characterized as the most remarkable
experiment suggested in modern
times"
Coming down to the practical ques-
lions whether the United States in
dependently, could maintain with free
coinage the parity between gold and
silver, he said there was
NO DIFFERENCE OF OPINION
that it could be accomplished by an
International agreement. AS an his
torical fact, France had maintained
the parity for seventy years
He quoted from Jackson and Jeffer-
son and contemptuously said it had
remained for modern economists to as.
sert that to create demand and value
by law was "a physical and a meta
physical absurdity." He also quoted
Sherman and Carlisle {while he was
in the house, to the effect that united
action of several countries could sus-
tain silver. AS to the stability of the
United States to do SO alone. the ex-
ample of France, a country infinitely
inferior in wealth and trade TO us,
must be borne in mind. Our commerce,
Internal and external exceeded that of
England Germany and France com
blned, and our resources We're as yet
undeveloped. Our population exceeds
either of those three countries. If our
MINES WE'RE OPENED
to the free coinage of silver, the com
mercial value of the metal would be
equal to it's legal value in this coun-
try, because any one having 412h
grains could bring it here and get a
standard silver dollars worth of com
mod1tleS. In this connection he went
somewhat extensively into figures to
show that there had been no overpro-
duction of silver
In conclusion Mr.. Crisp declared that
If the United States would but assert
its political and financial independ-
ence, prosperity would return and be
conceded the perpetual heritage of our
people.
Mr.. Crisp spoke for an hour and a.
half, and was applauded when he sat
down.
Mr.. Turner Dem) of Georgia, was
then, at the request of Mr. Dinelev.
recognized for an hour. Mr.. Turner
in opening said he did not pretend to
be actuated
BY GREATER COURAGE
than others, nor did he assume Wis
dom beyond his day ior genera ton
he would state opinions that had been
SLOWLY and carefully formed, and he
should submit them with the greatest
respect for those who differed with
him. He eXpounded exhaustively. with
cccplous illustrations from our history.
that Whenever an attempt was made
to circulate concurrently two metals of
different values, the cheaper, metal
WOlMd always drive the dearer out
OF circulation. He then addressed
himself to the question whether the
United States, independently. could re-
store the parity of gold and silver.
He would, he said, use every test
known to human tribunal He would
summon Mexico and China. where. sill
yer was coined and was worth its com
mercial value. He would summon
Japan, that noble STRIPPING Of the east.
just feeling her strength, and lust
about to abandon the exploded theo-
ries of silver monometallism. On the
other hand, as witnesses against this
theory he would summon the enlight
ened and cultivated countries of the
world, England, Germany. Russia,
Austria and France. They had all
CLOSED THEIR MINIS
to silver. Proceeding he took up the
Bland-Allison and Sherman silver laws
under which $4OO, coo, 600 of silver had
been coined Yet those laws had not
impaired value to silver, for its value
had gone down and down and down
until India, the great reservoir of the
white metal, had in 1893 driven the
final nail in the coffin of silver by clos
ing her mints. There We're 81, 000, 900. 900
of silver in the world according to the
report Of the director of the mint.
Over $500 000, coo had been coined BY
the countries of the world If a lib
eral use of silver or legal enactment
could sustain value, why had the com
mercial price in view of these facts
gone down steadily?
Mo-. Turner was enumerating. some of
the great names abroad that stood for
the gold standard when Mr.. Terry
Dem) of Arkansas Interrupted him
''The German reichstag has declared
for bimetallism'' he said, land the
common people of England favored BIZ
metallism. Of course, the Rothschilds
are for the gold standard They hold
a mortgage on everything in Europe
as they hold receivership of the
United States treasury" (Applause.)
Mr. Balfour," the most conspicuous
bimetali5st in England" replied Mr.
Turner, has declared that
GREAT BRITAIN ALONE
could not enter on bimetallism. and
the gentleman should have been candid
re.chstag declared for bimetallism with
the aid of other commercial nations
Thus one by one their arguments
evaporate."
Proceeding. he announced it as his
opinion that q, debtor nation should
pay its debts in the best money of the
W orld, in order to maintain a high
standard of credit. Moreover, not an
Individual would profit by paying his
debts in q deprecated currency In
the ethics of nations we could not af-
ford to take advantage of a technical
error and pay our creditors in cheap
money. Instead of paying one dollar
for two, he would rather pay two for
one; but this was not required Like
honest men we must only pay dollar
for dollar. (Applause.) In the present