The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-02-18
AGAINST single STANDARD
SENATOR CHANDLER MADE \
NOTABLE SPEECH IN THE
SENATE YESTERDAY.
ADVICE 70 new ADMINISTRATION
Republican Party May Indefinitely Pro-
long lis Ascendancy by Catering 10
the Peoples Intcrcsts-Sharp
Colloquy With Pcttigrcw.

Washington, Feb. Ex-senator Chan
drr's speech in the senate today in advo-
cacy of bimctallsm was one OF the nota'
bile efforts of the present session. not only
for the scholarly care with which the
senator presented the question from his
standpoint, but for the bitter sarcasm ad-
dressed 10 Senator Palmer and the In
dianapolis convention, the arrangement of
silver republicans who boltcd the 81.
Louis convention and for the personal OK
change between Mr.. Chandler and Mr..
Pcttigrcw, the latter being one of the
boilers from the st. Louis convention
Mr.. Chambers speech lasted three
hours and was rcplctc with incident. Ii
was an argument against the single stand
ard of either metal, gold or silver, and
n warning against q policy of monomcta-
lsm.
Then the senator turned TO the pOliti-
cal phases Of the question. speaking in
turn of Bryan, Of Palmer and Of Me
kinlcy. Mr.. Palmer sat across the aisle
and was frequently addressed by the
speaker rs one who had contributed to
the election of Mckinley. The contro-
yorsy between McsSrs. Chandler and
Pettigrcw was one of the hottest personal
episodes the senate has had in some time.
the South Dakota senator declaring that
Mr.. Chambers statements relative to
the violation Of pledges AT st. Louis were
wholly and absolutely false. Mr.. Chan
,llcr did not modify his statement, but
mutual explanations restored cordial re-
lations.
The pcroraton of Mr.. Chandler was
nm appeal to the incoming president and
his advisers to heed the needs of the
people, particularly on the money qucs-
ton. and n warning of speedy political
disaster certain to follow delay.
The early part of the speech was an
expression of the principles of finance and
against single standard of either metal
silver or gold. He traced the gradual
decentralization of silver, the closing of
our minis against the silver dollar in
1873, the acts to restore silver and the
serious blow struck by England against
silver in closing the Indian mintS. But
il remained for Secretary Carlisle, the
senator declared. to strike the most fatal
blow at silver in issuing his order that
the government would redeem its paper
obligations in gold only. BY that act
Secretary Carlisle struck out of use Il
vast amount of silver and drew. on the
depleted worlds supply of gold and gave
the final blow to silver. From the eff
fccts of this the low depths to which il
had been driven by the decentralization
must now begin its toilsomc path up
ward
Mr.. Chandler took up the fall of prices
particularly in farm products. resulting
from silver dcmonctization The senator
declared that within the last twenty years
there had been steady fall of prices
in all classes of property. Ills own con
yictions that silver demonstration was at
az tI,.. al md
in prices caused him to seriously doubt
whether the era of restored prosperity
was near at hand. He was He'd to the
conclusion, he said, that prices has not
vet reached the bottom This shinkngc
in prices had been as serious since lSN.
The value of property III the United
States was $50, 0,0OO,OOO in 1880; now
il was estimated at Si9,OOO,0OO a
shrinknge of % per cent since lS.W.
our debts had not shrunk, but remained
an memorable charge. Dcducting them.
the value of our property was cut down
To S.}3, 100000. Can this proceed, asked
the senator, without widespread bank
ruptcy? He was of the opinion that the
gradual tendency was to leave debtors
without power of paying their debts I'M
ill. by a gradual revolution. the assets OF
debtors were absorbed by the creditors.
Ii there had not been fortunate balance
If trade in our favor during the past
year, he said. there would have been 4
business cataclysm in this country which
would have Frustrated all interests and
produced infinite misery in our foreign
and domestic affairs. 1t was because
gaunt famine stalkcd through India that
trade was favorable to us, for this hor-
ror of the Orient had proved a benefit to
us. For these reasons, Mr.. Chandler
said. turning toward Mr.. Palmer ldcm.l
of Illinois. who sat near he was opposed
Ia such declarations for permanent
gold standard rs that Endorsed by the
indianapolis convention.
At one point Mr., Chandler caused much
amusement by addressing himself To Mr.
Palmer, who sat across the aisle. Tn,
New Hampshire senator had read list
of gold standard authorities on himctal-
lism. and then. turning Ia MIR. Palmer
he pointed out to the Illinois senator Il
copy saying he felt il would he helpful
for the candidate of the indianapolis con
vcnton.
Mr. Chandler said silver monomctnllisn
had led to the defeat of Bryan. The
other elements of the democratic party
had selected Palmer and Buckncr on /;
gold standard platform. Ii had resulted
in giving to these estimablc candidates