The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1897-02-19
A BIMETALLIC PLEA.
Chandler Advocates a Double
System of Coinage.
HE WAS SARCASTIC TO PALMER.
Had q Hot Exchange of Words with
Pettigrew-Predicts Defeat For the Re-
pubIicans Four Years Hence If H>e-
forms Are Not Inaugurated-

VOclcN OF was OIS Va tAAS
notable efforts of the present session
The early part of the speech was
presentation of the principles OF
finance, the senator arguing against a
single standard of either metal. silver
or gold
He traced the gradual demonetiza-
ton of silver, the closing of our mlnts
against the silver dollar in 1873, the
efforts TO restore silver, and the serious
blow struck by England against silver
in closing the Indian Inints. But 1t re-
mained 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
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 20 which II
has been reduced by the demonetlza-
tion of silver, bimetallism must now
begin its toilsome struggle upward.
Mr.. Chandler took up the fall or
prices, particularly in farm products,
resulting from silver demOnetiZatlon.
The senator declared that within the
last 20 years there had been steady
fall of prices in all classes of property.
His own convictions, that silver de-
monetiZatiOn 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 was led to the conclusion, he said,
that prices had not yet touched bot
tom"
This shrinkage in prices had been
most serious since 1890. The value of
property in the United States was sixty
five thousand millions in 1890, now 1t
was estimated at fOrty-nlne thousand
millions. a shrinkage of % per cent
since 1890. Our debts had not shrunk,
but remained an ineXOrable charge. De-
Quoting them, the value of our property
was cut down to thirty-three thousand
millions. Can this proceed? asked the
senator, without widespread bank
ruptcy? He was of the opinion that
the gradual tendency was to leave debt
ors without the power of paying their
debts, until by a gradual revolution the
assets of debtors were absorbed by cred
itors.
Ii it had not been for the fortunate
balance of trade in our favor during the
past year he said, there would have
been business cataclysm in this coun-
try which would have Frustrated all in
our business and domestic affairs. 1t
was because gaunt famine 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, turning to-
ward Mr.. Palmer Dem, Ills.), who sat
near, he was opposed to such declara-
tions for permanent gold standard as
that enunciated by the indianapolis
convention.
AS one point Mr.. Chandler caused
much amusement by addressing himself
to Mr.. Palmer, who sat across the aisle.
The New Hampshire senator had read
list of standard authorities on bimet-
allism, and then turning TO Mr.. Palmer
he presented the Illinois senator a copy
of the list, saying he felt it would be
helpful to the candidate of the Indian
apois convention.
Mr.. Chandler said silver monometal-
lism had led TO the defeat of Bryan.
The other element of the Democratic
party had selected Palmer and Buckner
on a single gold standard platform.
It had resulted in giving to these
estimable candidates 1876, 900 votes in a
total of I4,OOO, 900 votes. Nevertheless,
said MIR. Chandler, the assistance of
these old-fashioned gentlemen in the
election of Mr.. Mckinley was in a
worthy cause.
Mr.. Palmer remained in his seat
across the aisle. smiling occasionally at
Mr. Chandler's sarcastic illusions to
him. This, however, was but the pre-
lude to sensational episode between
Mr. Chandler and Mr.. Pettigrew
The New Hampshire senator said
Mr. Pettigrew had been sent to the
St. Louis convention on a pledge that
he would support Mckinley and .'sound
Il.
that senator had repudiated his pledge
had bolted Mckinley and sound
money platform and soon thereafter
had come out as supporter of Bryan
Mr.. Pettigrew had entered the cham
ber 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.
81 make the statement" answered
MIR Chandler, taking it from the
newspaper reports which are under
stood to have given a correct statement
of the case"
Mr.. Pettigrew. with explosive EN-
phasis, replied II brand that state
ment as wholly and unqualifiedly false
in every part. l have made that ex
plicit denial before and have placed il
in the record. so that the senator
(Chandler) should know it is absolutely
false"
Il understand the senator petit
grew declares the statement wholly
false. Does he mean to say he was no
in convention which named him as
Mckinley delegate"
81 say" interrupted Mr. Pettigrev
vehemently, THAT the purpose of youl
statement is absolutely and wholly
false
'Ah, the purpose of my statemen
is what the senator questions. Now
ask him whether he attended conven
tion favorable 60 sound money and wa
named as delegate by Such con
vention ?"
Il was q delegate said MIR. Petit
grew cslInly.
Then do not understand this per
formance of the sentor," proceeded Mr.
Chandler. There is not so wide
difference between us as might appear
He declared that NV statement wa!
wholly false. He admits he went tC
the national convention as delegat
from sound meney convention"
Mr.. Pstttgrew declared that he haC
made his position perfectly clear before
the state convention prior TO his being
chosen as q delegate.
The incident was brief but was em
phasiZed by the personal manner II
which the senators addressed eaci
other
Mr.. Chandler resuming the thread O.
his remarks, spoke of the opportunities
ahead of the Republican administra
ton in checking the money power anC
limiting corporate influences.
In conclusion he said: Il declare my
belief that President Mckinley and tn,
other leaders Of the party, In their ad
vent to power NAV by wise designs anC
virtuous deeds indefinitely prolong tn,
ascendsncy Of the Republican party il
this country. This can surely be don,
hr Kim IL Aha ,,axtS- ~ hn -,oo..l1. z.