Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-03-16
NATIONAL POLITICS.

CooKRELL's SENATE SILVER SPEECH.
Washington.--Mr. Cockrell called at
tention to the balances in the treasury,
including over $l23, 100000 gold coin and
bullion; over $24,OOO,OO0 standard silver
dollars; $l77,OOO,U0O of silver bullion
(coinage value on which the profit of
seigniorage had been $53,O00,000; $l4,-
100000 subsidiary silver coin; $l06 ,0OO, 900
of greenbacks, and $3O,OOO,OOO of treas
ury notes of 1890. Our bonds, the SEN
ator maintained, can be paid as we'll in
silver as in gold, and he called attention
to the fact that Secretary Carlisle and
Secretary Herbert had voted, while in the
house Of representatives, for the Stanley
Mathews resolution, declaring bonds pay
able in either coin. The senator referred
also to Senator Sherman as shat dis
tinguished gold mononetallist bimetal-
list,' and read from Mr.. Sherman's utter
ances in 1878, when he was secretary of
the treasury, that the government re-
served the legal right to redeem govern
ment obligations in silver. If this policy
had been carried out there would have
been no raids on the treasury. Exclusive
gold payments was voluntary assump.
tion on the part of the secretary of the
treasury. There had been no gold raids
prior to 1891, because the silver dollar,
up to that time, was the watchdog of
the treasury"
And it was more potent watchdog
than any of the Rothschilds or the Bel
monts,' added Mr.. CockreH.
The proposition of the president to is.
sne ffty-year bonds to retire notes, ho
said, was undemocratic. 1t was the worst
financial proposition that had ever eman.
ated from an executive officer, and if
adopted it would cost the people $2,631,-
100000. Secretary Carlisle had recently,
in speech, proclaimed himself for gold.
There was no further effort to disguise
the issue behind 'sound money" which
meant absolute gold monometallism.
The senator declared that the Demo
cratic party could not be divided by the
silver question. 1t was the pillar of
cloud by day and the pillar of lire by
night, the great constitutional beacon of
the Democratic party, the ono on which
all its victories had been won, and those
who opposed it would slough off from the
party, but would not divide it.
Mr.. Cockrell was particularly severe on
what he termed the 'fiimsy pretexts" and
"stuff" which Secretary Carlisle offered in
his speeches in support of the gold stand
ard.
The senator compared Mr.. Carlisle's
recent views with those expressed "be
fore he was dned and wined by the
Rethschilds and Belmonts and the bond
brokers of Wall street and Lombard
street."
Referring to an international monetary
conference, Mr.. Cockrell said it was a
degrading and humiliating proposition.
Every self-respecting nation has estab-
country was the only one which trailed be-
hind Great Britain and European conn
tries and besought them to cometo our
relief and establish financial system for
us. We threw our Monroe doctrine in
the face Of England, and yet we bent the
knee to accept the English gold standard
and to ask their aid in an international
conference.
Sir Julian Pauncefote, the British en-
bassador, entered the diplomatic gallery
while Mr.. Cookrell was deprecatiug the
subserviency of this country to the gold
standard influence of England.
The senator declared that we should
continue our time -honored adherence to
Then, without apparent in
tention, Mr.. Cookerell faced about to
ward the diplomatic gallery, and con-
cluded:
"Or else let MS haul down old Glory,
hoist the gold standard and cry out long
live the queen of England, the empress
of India"