The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-17
HE SMITES TO HEAL
SENATOR CHANDLER DEV0TES HIN.
SELF TO FINANCES.

SELF TO FINANCES.
He Is for Bimetailism and Has 40 More
ESQ for PaImerism Than He Has for
Erysuism, and Still Less Use for Petit
grewism Than Either-Personai Clash
With Pettisrew - Admonishes the In.
coming Administration That Platform
Promises Must BE Fulfilled Lest Evil
BefaliIt.
Washington, Feb. Ex-senator Chan
dler's speech in the senate today, in ad-
vocacy Of bimetallism, was one OF the
notable efforts of the present session, not
only for the scholarly care with which
the senator presented the question from
his stanpoint, but for the bitter sarcasm
addressed to Senator Palmer and the In
dianapolis convention, the arraignment
Of silver Republicans who boiled the st.
Louis CONVEX tion, and for the dramatic
personal exchange between Mr.. Chandler
ard Mr.. Pet.igrew, the latter being one
of the boilers from the St. Louis conven-
tlon Mr. Chandler's speech lasted three
hours, and was replete with incident. Il
was an argument against a single stan
dard OF either metal, gold or silver, and
warning against policy Of monome-
tallism. Then the senator turned to the
political phases of the question, speak
ing 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 con-
troversy between Mr.. Chandler and Mr..
Pettigrew was one of the hottest person.
al episodes the senate has had in some
time, the South Dakota senator declar-
ing that Mr.. Chambers statement relat-
ing 10 the violation OF pledges at st.
Louis was wholly and absolutely false.
Mr.. Chandler did not modify his state
ment, but mutual explanation 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 fol-
low delay.
CARLISLE'S LAST STRAW.
The early part of the speech was a
presentation Of the principles OF finance,
the senator arguing against a single
standard Of either metal, silver or gold
He treated the gradual decentralization
OF silver, the closing OF our mints
against the silver dollar in '73, to the eff
forts TO restore silver, and the serious
blow struck by England against silver
in closing the Indian minis. But it re-
NAMED for Secretary Carlisle, the sena-
tor 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 a
vast amount of silver and drew on the
depleted worlds supply of gold and gave
the final blow to silver From the effects
of this low depth to which it had been
reduced by the decentralization of silver,
bInetallism must now begin its toilsome
struggle upward.
NOT TO THE BOTTOM YET.
Mr.. Chandler took up the fall of prices,
particularly in farm products. resulting
from silver decentralization. He declar-
ed that within the last twenty years
there had been steady fall of prices
of all classes of property. His own con-
victions, that silver decentralization was
at the bottom OF this downward move
ment in prices, caused him to seriously
doubt whether the era of restored pros
perlty was near at hand. H was led to
the conclusion, he said, that prices had
not yet touched bottom"
This shrinkage in prices had been
most serious since 1890. The value of
property in the United States was s65,-
Oo0, O00. 900 in 1890. now it was estimated
al forty-nine thousand millions.
shrinkage of % per cent since 1890 Our
debts had not shrunk, but remained an
memorable charge. Deducting them, the
value OF our property was cut down to
thirty-three thousand millions. Can this
proceed, asked the senator, without
widespread bankruptcy? He was of the
opinion that the gradual tendency was to
leave debtors without the power of pay
ing their debts, until by a gradual revo-
luton the assets of debtors were alb
sorbed by creditors. If ii had not been
for the fortunate balance OF trade in our
favor during the past year, he said,
there would have been business catac-
lysm in this country which would have
Frustrated all interests and produced in
finite misery in our business and domes-
tic affairs. II was because gaunt fam
inc stalked through India that trade was
favorable TO us, for this horror of the
Orient had proved a benefit to US. For
these reasons, Mr. Chandler said, turn
ing toward Mr.. Palmer Dem. I'D, who
sat near. ne was opposed to such declar-
atoms for permanent gold standard as
that enunciaJei by the Indianapolis con-
vention.
PALMERISM AND BRYANISM.
At one point Mr.. Chandler caused
much amusement by addressing himself
to Mr.. Palmer. The New Hampshire
senator had read list OF standard au-
thorities on bimetallism, and then, turn
ing to Mr.. Palmer. he presented the Hi
nois senator copy OF the list, saying he
felt It would be helpful 20 the candidate
OF the Indianapolis convention.
Mr.. Chandler said silver monometal-
ism had led 70 the defeat Of Mr.. Bryan.
The other element Of the Democratic
party mad selected Palmer and Buckner
on single gold standard platform
L mad resulted in giving 10 these es-
timable candidates $4,000 votes in
total OF 100000 votes. Nevertheless,
said Mr. Chandler. the assistance Of
these old-fashioned gentlemen in the
election OF M. Mckinley was in
worthy cause.
Mr.. Palmer remained in his seat
across the aisle, smiling occasionally al
Mr.. Chandler's sarcastic illusions TO
him.
THEN THERE'S PETTIGREWISM.