Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1896-02-19
Is CRUSHED TO DEATH
Free Coinage Substitute for Bond
Bill Overwhelmed.
AFTER A GALLANT FIGHT
The House, After the Decisive Vote of
2i5 to 90, Declare for Nom
Concurrence.

Washington, Feb 1.-THE public and |
private galleries of the house were
thronged today in anticipation of the
debate on the senate free coinage sub
stitute for the bond bill.
Mr. Dingley, chairman of the ways
and means committee, insisted on the |
regular order as soon IS the journal had |
been read. under the arrangements
made yesterday One hour was allowed
each side for closing.
Mr.. Crisp, representing free silver.
said this was an economic question, and
no matter what views the members
might have entertained in the past he
assumed that in casting a vote today
each member would do SO conscienu-
@usly, in accordance with the dictations
of his convictions. Mr.. Crisp opened his
argument proper with the familiar
words "In 1878 congress demonetized
silver Prices were fixed by the amount
of primary money in the world. If
the standard in England was gold,
France silver and China silver, the
measure of values would be combined
against both gold and silver circulat-
ing as money"
He read from the statement Sena tor
Sherman made in 1875. that the demon
etization of silver had caused the re-
duction of it's price and created a mad
scramble for gold on the part of Eng
land, France and Germany. which aps
preciated its price and induced fall of
prices throughout the world. That TALL
of prices, Mr.. Crisp asserted, was large
ly due to the decentralization of silver,
He read from Balfour's speech on tn
9Th inst, in the English parliament. at
trbuting the decline of agriculture in
gold countries to the appreciation Of
gold and the artificial advantage II
gave silver countries. Balfour also de
clared the obstacles to reform came not
from abroad, but were put forward al
home, Mr.. Crisp affirmed the existence
Of well defined purpose by those in
authority at home and abroad to de
press the price of silver in order to pre-
vent its reconciliation. He cited the
manner in which the Band-Allson act
of 1878 was executed. the coinage Of the
minimum amount under the act and re-
fusa1 of the treasury after a few months
to coin silver under the act of 1890. IL
cited Secretary Carlisle's refusal to give
silver for gold in 1893 because silver
was needed for the redemption Of
treasury notes, and his course a few
months afterward of redeemlng those
notes in gold. What kind of Juggling
is that" he asked. What sort Of
friendly treatment is that2" (ApplauseD }
He then directed his attention to the
manner in which the parity between
metals had been maintained. Every OBJ
legation, government bonds, greenbacks
and treasury notes was payable in coin.
If that was not true and they were gold
obligations why did not those who be-
lieved it have the courage to say SO
and save a tax-ridden people millions
of dellars2 In February 1895, congress
could have saved the people $4,000 00f
interest by authorizing gold bonds.
Congress refused said Mr.. Crisp
I'VE paid sixteen millions for the priyil-
ege of paying in silver, and now yol
attempt to deny our right To do 50.
tApplause)
MIR. Speaker" said Mr.. Crisp, con
tinuing. "a few days ago our condition
was pitiable. The greatest nation II
intelligence and trade, we had just al
plauded to the echo the presidents mes
sage, warning European powers tha
they would not be permitted 10 seeur
lodgment on the American continent
The echo Of that applaeAf. had hard
ceased hetufe the administration VIII
shaking knees was hysterieally ealln
on congress for help 1t was feared tina
Great Britain would take out our golt
We were helpless in the face of the q
emy. Yet you want that eonditio
perpetuated"
Cridcising the bond bill. he declare
its purpose was to impound greenbael
and to do indirectly what the ma jorit
dare not do directly. It was plan
retire all greenbacks by holding the
in the treasury at the cost of outstan
ing interest bearing bonds, plan whit
Carlisle had characterized as Il
most remarkable experiment sugges
ed IN modern tines
Coming down to the practical que
lions whether the United States ind
pendently could maintain with fl
coinage the parity between gold al
silNef, he said that there was no difft
ee OF opinion that 1t could be q
ment. '''' '5
quoted from Jackson and jeff
8ila eontemptuously said Il had
~ ~ modern economists to ass,
a'ae 70 create demand and value
was physical and a mqtaphysi,
~ ae also quoted Sherman and CARL
wv, tNi,iie ne was in the house,. to the
1eet that united action of several 90,
l,les 5 could sustain silver AZ -
ap'aily a, OF the United States ia do
@.9's, ~, she example of France. a COZ
es INFINITELY inferior in wealth !
a eiaae 70 us must be borne in ~,
oul commerce, internal and exter,
exceeded de, that Of England. Germ,
anu France combined. If our m, mi
We're opened to the free coinaa, - -