Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-03
Their Position Stated at Length by
Senator Gallery.
DEMAND FOR CURRENCY REFORM
Opposition in the Senate Should Be
Ignored.
TIL E Phi ATFORM PLEDGES


republican party put the tariff bill ahead
and gave the more important question of
currency reform the second place. Now
mat they have passed their tariff bill it is
only proper that the currency question
should be given the precedence over the
other matters of legislation that will come
before u.s.
Seated today in his comfortable home
In this city, Senator Caffery of Louisiana
thus briefly outlined the attitude that, in
MS opinion, the sound money men in Con-
sress should assume with reference to cur
rency and banking reform.
Mr.. Caffery is gold democrat He be-
longs to the little coterie in the Senate
who believe that the most important bust
ness before Congress this winter is to re-
lire the demand obligations of the govern
ment and establish a banking system
based on assets that will give a greater
extension to credit and a more ADEQUATE
medium or exchange in the south and
west. In the course of a conversation with
a star reporter Senator Gallery asserted
u, the republican party would be false
10 It's pledges to the business interests of
Inc country II 1t failed to meet this issue
senator Caffery spoke with strong en-
phasis and with that freedom of expression
mat private conversation permits for
IL was not understood that his remarks
should be made public. Later Senator
canery made no objection to their publica-
.ion beyond remarking that the interview
properly reflected his views.
A Grave Situation,
II some effort" said Senator Caffery,
IS not made to change cur currency laws,
inc republican party must shoulder the re-
sponsibility and go down to defeat in the
congressional elections of next year, and
quite likely lose the presidency in 1900 The
ic Fill
last year, when Mr.. Mckinley was elected.
and it must be met as that situation was
met. with equal courage and resolution
Inc republican party" Senator Caffery
continued, rs pledged 20 a maintenance
OF the gold standard. How can that stand
ara be maintained so long as we have five
hundred million dollars Of greenbacks and
treasury notes resting upon a slender basis
OIL one hundred million dollars in gold
which the very possibility of war would
reduce to the vanishing point within TWEEN
ty-four hours? No Intelligent business
man would take such risk, yet here is
the government of the United States, the
most rcsourceful and richest nation on
earth. continually threatened with insol-
Vency because of it's failure to do what it
ought to have done many years ago.
Why 40 you rest the responsibility for
the present state OF affairs the republic
can party" Senator Caffery was asked.
The republican party is committed to a
reform of the currency by its party plat
form of last year. That platform" said
Senator Catfery, reading from campaign
text book. "in express terms declared that
all our silver and paper currency must be
maintained at parity with gold, and we
favor all measures designed to maintain
InviOlabie the obligations of the United
States and all our money, whether coin
paper. at the present standard, the stand
ard of the NEST enlightened nations of the
earth.
Position of Sound Money Democrats.
This involves In my mind, and undoubt-
eddy did in the minds Of such gold demo-
Gratis as made McKinley's election possible,
something more than the continuance of the
present patchwork system, which constant
iy menaces the maintenance of the gold
standard. 1t was because of this declara-
ton that Mr. Mckinley received the sup
port, directly and indirectly, of the sound
money democrats support that enabled
him to defeat MIR. Bryan. You don't sup
pose for one instant, do you, that any dem
ocrat would have supported Mckinley or
turned his back upon his own party had he
not felt that the position taken by Mr..
Bryan called for the opposition of every
man, whether he were republican or
democrats did this. notwithstanding they
standard and honestly discharge the obiga-
lions of the government? The sound money
democrats did this. notwithstanding they
knew that high tariff bill. which was lit
tie less repugnant to them than free silver,
republican party came into power. But
they put patriotism above every other con-
sideratiOn and their support resulted in
triumph of the sound money cause and the
election of a republican President. Now
we sound money democrats. who contrib
uted to this end, demand that the repub
lican party shall not turn its back upon us,
but shall retain the position which brought
US to its support, namely, the main
tenance of the gold standard. 1t is unnec-
essary to say that this standard cannot be
maintained in the present state of affairs.
1t only be maintained by making
thorough change in our currency laws and
removing our monetary system from the
peril that now .confronts it.
Would Ignore Sectional Opposition.
Some of the republican members of
Congress- it was suggested to Senator
Gallery, while believing that something
ought to be done fear to take the initia-
tive this winter lest it result in their de-
feat in the congressional elections next
year. Others, again, think it useless to be-
gin the contest owing to the opposition of
the silver men in the Senate. You proba-
bly, do not favor this policy?'
Il do not was Senator Caffery's en-
phatic reply. "Whoever heard of any
party going into fight with declaration
on its lips that could not win? That
isn't the way political military battles
are won. The silver men We're known to
tial campaign, and they were not overly
modest in asserting that they would sweep
the country, but that didn't scare the
sound money men a bit. They pulled them
selves together, effected a strong organiza-
zion, and by using all the agencies at their
command overthrow Mr.. Bryan and his
silver-populist forces and preserved the
credit of the country. The outlook for
currency reform is quite as hopeful at this
time as was the election of Mr.. Mckinley
a year ago. If we realize the necessity of
doing something then let us do it as
speedily as possible and not waste any
more time in talking about it. In this
matter We can learn useful lesson from
our opponents. There is something mag
nifcent in their unconquerable zeal and
their capacity for railying their forces af-
ter an overwhelming overthrow. They
never say die
''They are full of pluck and courage, and
their organization is no less perfect today
than ii was year ago. when they fol-
lowed Mr.. Bryan to disastrous defeat.
You never hear the silver men considering
how their support of the white metal will
affect their political future. They are
ready, IL necessary. to suffer political de-
feat for their convictions. At every ses-
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