The broad ax., 1898-01-01

81 Arkaases, n tie House Of
Representatives.. Friday. DeceH-
Der ~, 1895.
THR House having under con-
sideration the bin ca. r. 1904 to
mainfain and protect the coin
redemption fund, and to authorize
the issue of certificates of indebted
ness to meet temporary deficiencies
Of FeFenue-
Mr.. Terry said:
Mr.. Speaker: A great issue is
before the American people, and
every effort Is being make to OBJ
scure and counteract It. Personal
appeals and personal ambitions,
individual antagonisms and local
prsjudices, avarice, greed, bigotry
and prescription and every other
sentiment repugnant TO the spirit
Of true democracy Is invoked to
deaden real patriotism and to
sacrifice every man who, in the
trying hour, has dared to stand
true TO the rights of the American
people.
An amazing spectacle is presented
By what Is being done In public
affairs today. A few days ago the
President sent into Congress .
message which rang like bugle
call, summoning the representa-
tives of the American people to
resist the aggressi0ns of the British
Gag. and now ne have presented in
this House q bill for the perpetual
ton of the British standard that
has destroyed more values and
brought more restitution and
misery than all the ravages of war.
And yet we are asked to fight the
one and to glorify the other, and
to surrender to national banks one
Of the highest functions of national
government. And the gentleman
from Tennessee Mr.. Patterson
has invoked the mighty spirit Of
Andrew Jackson to consecrate a
surrender to British gold. Yester-
day We passed bill to bring about
high prizes In all protected indus
tries, and today we are asked to
pass bin to perpetuate low prices
IN all industries not protected.
Mr.. Speaker, the American peo-
pie are watching the proceedings of
this Congress. They are tired of
being made the puppets of the
miserable policies that are being
pursued, and the time is coming
when they viii say so in terms and
tones that cannot be mistaken.
Politicians are inventing makeshifts,
but the people win marshal their
mighty columns upon the line of
living issues, and the conflict that
VIII be fought to a finish is the
battle of the standards. That is
the mighty question that sooner or
later viii tower above all others,
and / feel that / owe to my coun-
try and to my party to keep it be-
fore the people
l. That the great issue now be-
fore the American people is the
battle Of the standards and not
simply q question of circulation.
The question is, shall we con-
tinue under the single gold stand
ard, frandulently foisted upon us
By the Sherman act of 1878, or
shall We return to the bimetalIic
standard given us by the fathers of
the Republic in 1892?
2. That bimetallism does not
mean the concurrent circulation of
the two metals, designated as the
standard of value. but simply the
free coinage of both on equal terms,
so that the debtor shall have the
right to pay his debt with either.
8. That, with this option upon
the part of the debtor, If at any
time the law-designated amount of
one Of these metals should be worth
slightly less than the other, the
option exercised BY debtors 70 pay
m the less valuable would increase
the demand for that metal and de-
crease the demand for the other,
and thereby constantly tend to |
bring and keep the vslne Of the |
two upon q parity, at the ratio J
designated By law.
4. That the three important |
functions of money are first, As |
medium of exchange; second, as a
measare Of yalne; third, as stand |
ard Of value or standard of deferred
payments, and that IN the present 1
issue It's most important function |
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