The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-14
X IRA!
5:l5 O'CLOCK.
THE DEBATE.
congressman Wrestling
With Free Coinage.
Both Sides Restricted to One
Hour Each.
: -
Considerable Interest Manifested In.
Considerable Interest Manifested In
the Talk Of Advocates.

WASHINGTON, Feb. 14.-Ihe public and
private galleries of the House were
thronged today in anticip alton of The
closing of the debate on the Senate free
coinage substitute for the ono bill. The
attendance ON the floor was also very
large. Mr.. Dingley, chairman of the
ways and means committee, in
sisted the regular order as soon as
the Journal had been read and under
the arrangement, but one hour was allow
ed on each side for closing. Me. Crisp
Dem, Ga, representing free silver
said this was an economic question and
no matter what views the member have
entertained in tine PAST, he assumed that
in casting his vote trday each member
would do 20 censcientiously in accordance
with the dictates of his convictions. MIR.
Crisp opened his argument proper with
the familiar words: Sin 1873 Congress
demone.ized silver" At the very TIRES
held of the subject. he said, this was de-
MED, and IL was also denied that up to
1873 we had had bimetalism in this
country,
lie quoted Baron Rolhschild's statement
that prices were regulated by the aggre-
gate amount of The circulation, gold and
silver. Prices we're fixed by the mount
OF primary money in the world. II the
standard In Englaad was gold, in France,
silver, and in China silver, the measure
OF values would be the combined mount
VI DDln EOlu anu bilNtI ClTtulhlluk n -
money. Money was the thing for
which al contended and the sum of the
demand for money was equal TO the de-
mapd for all things else on earth. II a
metal were made money by law, a de-
mand for that metal would be created
among all the people and its value YOU
necessarily increase with the increased
demand. Here he read from statements
made by Senator Sherman in 1876, that the
cemonetization of silver had eau ed a re-
ducticn OF its price and had created q
mad scramble for gold on the part OF En-
gland, France and Germany, which had
appreciated It's price and had induced a
fall in prices throughout the world. That
fall of prices, Mr.. Crisp asser ed, was
largely due, ne would not say wholly, to
decentralization of silver: 1t was not the
fall of prices that was complained Of, but
the constant and steady fail of prices due
to the constant appreciation of goli. He
read from MIR. Balfour's sreech of the 18th
inst. In the English parliament at'ribut-
ing the decline OF agricul ure in geld
countries to the appreciation of gold and
the artificial advantage it gave to silver
countries.
Mr.. Balfour had also declared that the
obstacles to reform came not from abroad,
but were put forward at home.
Continuing, Mr.. Crisp affirmed the ex-
istence OF a well defined purpose by those
in authority, both here ana abroad, 10
depress the price of silver in order to
prevent its reconciliation. lie cited the
manner in which the Blsnd-Allison act of
1873 was executed, the coinage of the
minimum amoun under the act aud the
refusal of the treasury after q few months
to coin silver under the act of 1890. He
cited Secretary Carlislo's refusal 10 give
silver for gold in 1893 'hecause the silver
was needed for the redemption of treasury
notes." n his course a few months
afterward in redeeimng those notes in
gold. "What kind of juggling is that?"
he asked. "What scrt OF friendly treat
ment of silver is that?" (Applause).
He then directed his attention to the
manner in which the parity, between the
metals had been maintained. Every OBJ
legation of the governmn', bono and
grenbacks, and treasury note, were pay
able in coin.
"In February, 1905, Congress could have
saved the people SIG, 0o0, 600 in interest by
authorizing gold bonds.
Congress refused,n said Nh. Crisp,
"we paid SIC, 900. 700 for tue privilege OF
paying in silver and now you attempt to
deny our right TO do so." (Applause.
Mr.. Speaker" said he, continuing, "a
few days ego, our condition was pitiable.
The greatest nation ia intelligence and
trade, we bad just apI Landed TO the echo
the Presidents me sage earning Euro
peen powers that thEy would not be per-
mitted to secure Judgment on the Amer
can continent. The ret erberations OF that
applause bad barely ceased before the ad-
ministration with shaking knees wss
historically calling on Congress for help.
IL was feared that Great Britain would
take all our gold. We we're absolutely
helpless in the face of the enemy. Yet
you now van that condition perpet-
lated. Applause.
Criticising the bond bill, he declared
that las purpose was to impound the
greenbacks, and do Indirectly what the
majority dare not do directly.
IL was ap Ian To retire all the green.
backs by holding them in the treasury at
the cost of outstanding interest hearing
bonds, a plan which Mr.. Carlisle had
characterized as the "Most remarkable
experiment suggested in modern times"