The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-17
who Went to st. Louis as a sound
Money Delegate, Betrayed His Party
and BoIted with silverites.
GEN. PALMER ALSO RAPED
AND PLATFORM OF THE INDIANAPo-
LIS CONVENTION CONDEMNED.
President-EIect Mckinley Warned To
Heed the Needs Of the People, ON
the Financial Question.

WASHINGTON. Feb. Ex-senator Chand-
ler's speech i'm the Senate to-day i'm ad-
vocacy of bimetalIism was one OF the no.
table 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 to Senator Palmer and the Indiar-
| apolis convention. the arraignment OF sill
YER Republicans who bOlted the ST. Louis
convention and for the dramatic personal
exchange between Mr.. Chandler and Mr..
| Pettigrew, the latter being one of the bolt
ers from the ST. Louis convention. Mr..
Chambers speech lasted five hours and
was replete with incident. IL was an argu-
| ment against single standard OF either
metal, gold or silver. and warning against
a policy of monometallism. Then the SEN
ator turned TO political phases OF the ques-
| tion, speaking In turn. OF Bryan. OF Palmer
and of Mckinley. Mr. Palmer sat across
the aisle and was frequently addressed by
the speaker as one who had contributed
TO the election OF Mckinley. The contro-
versy between Mr.. Chandler and Mr.. PeNi-
| grew was one of the hottest personal epi-
sodes the Senate has had in some time. the
South Dakota senator declaring that Mr..
Chambers statements relative to the viola
| ton of pledges at St Louis were wholly
| and absolutely false. Mr.. Chandler did not
modify his statement, but mutual explana-
tions restored cordial relations.
The peroration of Mr.. Chandler was an
| appeal to the incoming President and his
| advisers to heed the needs of the people.
| particularly on the money question. and
warning of speedy political disaster certain
| TO follow delay. The early part OF the
speech was presentation of the principles
of finance, the senator arguing against
| single standard OF either metal. silver or
| gold. He traced the gradual demonetiza-
| ton of silver the closing of our mints
| against the silver dollar in 1873 the efforts
| to restore silver and the serious blow struck
| by England against silver in closing the
| Indian mints But IL remained for Secre-
| tary Carlisle, the senator declared. TO
strike the most fatal blow at silver. In is
suing his order that the government would
redeem it's paper obligations In gold only.
| BY that act Secretary Carlisle struck OUT
of use a vast amount OF silver and drew
| on the depleted worlds supply of gold and
gave the final blow to silver. From the ef-
| fects of this low depth TO which IL has
been reduced by the demonetization of sill
| yer. bimetallism must now begin its toll
| some struggle upwards.
CAUSE OF THE FALL OF PRICES.
Mr. Chandler took up the fall OF prices,
particularly in farm products, resulting
| from silver decentralization. The senator
| declared that within the last twenty years
there had been a steady fall OF prices in
| all classes of property. His own convic-
| tions, that silver demonetization was at the
| bottom of this downward movement in
prices, caused him TO seriously doubt
| whether the era OF restored prosperity was
| near at hand. He led 10 the conclu-
son he said. that prices had not yet
| touched bottom This shrinkage i'm prices
| had been most serious since 1870 The valuo
/ of property in the United States was s65.-
| 0.U10.OO0 in 1880; now IL was estimated at
| S49, ,000. 100000, a shrinkage of p per cent.
! since 1890 Our debts had not shrunk. but
| remained an inexorabie charge. Deducting
them, the value of our property was cut
| asked the senator. without widespread
| bankruptcy? He was of the opinion that
the gradual tendency was to leave debtors
| without the power of paying their debts.
| until. by gradual revolution. the assets
OF debtors were absorbed by creditors. lf
| ii had not been for the fortunate balance
| of trade i'm our favor during the past year.
| he said. there would have been business
cataclysm i'm this country whlcn woul1
! have prostrated all interests and produced
1 infinite misery i'm our. business and comes
| tic affairs. Ii because gaunt famine
stalked through India that trade was fav0r-
| able TO US, for this horror of the Orient
| had proved "A benefit to US. For these rea-
| sons. Mr.. Chandler said. turning towards
Mr.. Palmer. who sat near. ne was opposeo
| to such declarations for a permanent gold
| standard as that enunciated by the Indians
apolis convention.
Al one point Mr. Chandler caused much
| amusement by addressing himself TO Mr..
| Palmer who sat across the aisle. Inc New
Hampshire Senator had read a list OF
| STANDARD authorities on bmetallism. and
| then turning to Mr.. Palmer, he presented
the Illinois senatoT copy 0L tne ,bs h,s cand
| date of the Indianapolis convection. Mr.:
| Chandler said silver monometallism had led
| To the defeat of Bryan. The other clement
| of the Democratic party had selected Palm
| er and Buckner on q single gold-standard
platform 1t had resulted in giving 10 these
| estiinab bic candidates 5000 votes in a total
| of 900 votes. Nevertheless. said Mr.
| Chandler. the assistance OF these cld-fash-
| ioned gentlemen in the election OF Mr.. Nc
| Kinley I'm worthy cause.
Mr. Palmer remained in his seat across
the aisle. smiling occasionally at Mr.. Cham
| dler's sarcastic illusions TO him. This. now
! ever was but the prelude TO "A sensational
| episode between Mr. Chandler and Mr.. Pet
! tiRrew The New Hampshire senator said
! Mr. Pettgrew had been sent 10 the St
Louis convention on pledge that he would
support Mckinley and sound money Ana
| pudiated his pledge, had bolted Mckinley
and sound-money platform and soon
thereafter had come out as a supporter or
~ ''''' PETTIGREw SCORED.
Mr. Pettigrew had entered the chamber
as this statement was made He advanced
TO his seat and interrupted. do you make
that statement on your own authority or as
a quotation?' he asked.
Il make the statement" answered Mr..
| Chandler. taking IL from the newspaper
reports, which are understood 10 have
given a correct statement OF the case"
/ Mr. Pettigrew. with explosive emphasis.
replied: Il brand that statement as wholly
and unqualihedly false in every part. have
made that explicit denial before, and have
placed IL in the Record. so that the senator
| lChandler) should know il is absolutely
false
Il understand the senator (Pettigrew) de-
clares the statement wholly false. Does ha
mean 10 say he not In convention
which named him as Mckinley dele
gate
Il say" interrupted Mr.. Pettigrew. vehe-
mently. that the purpose or your state
ment il absolutely and wholly false.
''Ah. the purpose OF my statement Is what
the senator questions. Now, l ask hin.
whether he attended a convention favorable
gate by such convention
II was delegate. said Mr.. Pettigr1w.
calmly.
Then | do not understand this perform
ance OF the senator" proceeded Mr.. Cham
der. There Is not wide a difference be-
tween us might appear. He declared