The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1897-02-18
Chandler Advocates a Double
/ System of Coinage.
HE WAS SARCASTIC TO PALMER
Mad q Hot Exchange of Words with
Pettigrew-PredictsD Defeat For the Re.
publicans -Four Years Hence II Re-
forms Are Not Inauguratod.

Ine early part OF tne SpeeCn was u
presentation of the principles of
finance, the senator arguing against a
single standard of either metal, silver
or gold.
He traced the gradual demonetiza.
tion 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 it 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 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
has been reduced by the demonetiza-
tion of silver, bimetallism must now
begin its toilsome struggle upward.
Mr.. Chandler took up the fall of
prices, particularly in farm products,
resulting from silver demonetization.
The senator declared that within the
last 90 years there had been o 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 il
was estimated at forty-nine thousand
millions, shrinkage of % per cent
4 nee 1890. Our debts had not shrunk,
but remained an memorable 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 gradual revolution the
assets of debtors were absorbed by cred
itors.
If 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 prostrated all in
terests and produced infinite misery 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 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 q permanent gold standard as
that eppqciated by the Indianapolis
convention.
At 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
apolis convention.
Mr.. Chandler said silver monometal-
ism had led to the defeat of Bryan.
The other element of the Democratic
party had selected Palmer and Buckner
on single gold standard platform.
1t had resulted in giving to these
estimable candidates 10000 votes in a
total of IA 1000, 900 votes. Nevertheless,
BdlQ MI. Olc uSSloOdhCc VI
these old fashioned gentlemen in the
election of Mr.. Mckinley was in
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
Sc. Louis con 'ention on pledge that
he would support Mckinley and ''sound
money" And yet within two weeks
that senator had repudiated his pledge,
had bolted Mckinley and a sound
money platform and soon thereafter
had come out as supporter of Bryan.
Mr.. Pettigrew had entered the cham
Der as this statement was made. He
advanced to his seat and interrupted.
"Do you make that statement ON your
own authority or as quotation" he
asked.
'I make the statement" answered
Mr.. Chandler, taking it from the
newspaper reports which are under
stood to have given correct statement
of the case"
Mr.. Pettigrew, with explosive EN-.
phasis, replied II brand that state
ment as wholly and unqualiiedly false
In every part. l have made that ex-
plicit denial before and have placed it
In the record. so that the senator
(Chandler) should know it is absolutely
false.
'I understand the senator (Petti-
grew declares the statement wholly
false. Does he mean to say he was not
in a convention which named him as a
Mckinley delegate"
"I say" interrupted Mr.. Pettigrew
vehemently, ''that the purpose of your
statement is absolutely and wholly
false"
s"Ah, the purpose of my statement
is what Uhs senator questions Now l
ask him whether he attended o conven-
tion favorable to sound money and was
named as delegate by such a con-
ventionY
81 was delegate" said Mr.. Petit
grew cslmly
'Then | do not understand this per-
formaneeI nj tho selltor," proceeded Mr.
Chandler. "TheFe is not so wide q
difference between us as might appear.
He declared that my statement was
wholly false. He admits he went to
Jne national convention as delegat
from sound meney convention"
Mr. Pettigrew declared that he had
mado his position perfectly clear before
the state conYention prior to his being
chosen as a delegate
The incident was brief but was en-
phasized by the personal manner in
which the senators addressed each
other.
Mr.. Chandler resuming the thread OF
his remarks, spoke OF the opportunities