Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-12-13
Three to Be Held TO. Accommodate
the Currency Debate.
WHAT CAUSED THEPANIc
Republicans Advocate tho Single
Goid Standard, whilo Democrat.
Combat it-Not Gold Enough In tho
World TO DO sno Business or tho
world-DooIIno in stock OF Gold
Means Ruin,
tBy Telegraph to virginian-Pilot.)

i
(By Tclcgraph to Virginlan-Pilot.)
Washington, Dec. 12.-There is such
great pressure for time on the part of
the members on both sides, who desire
to participate in the currency debate in
the House. that three night sessions
were ordered to-day. Interest In the
debate is not keen, judged by the at
tendance in the galleries, although the
members themselves are listening at
tentively to the speeches.
Only one Democrat thus far has
spoken in favor Of the bill, Mr.. briggs
OF New York, who announced to-day
that he had pledged himself before cleo
ton to support the gold standard and
proposed to redeem that pledge. He
will be joined by several of his Brook
lyn colleagues and probably several
others. The features of the debate to-
day were the speeches. of Mr.. Gros-
venor, Of Ohio. for the bill. and of Mi.
Cochran. of Missouri and Mr.. New
lands, of Nevada, against 1t. The other
speakers were Meesrs. Parker (New
Jersey, William Alden Smith (Michi-
gam, Prince Ullinois). Lawrence MAS
:sachusetts), and Powers CVermont), for
the bill. and NIessrs. Shafroth Colo
rado) and Sims (Tenncssee), against it,.
MIR. GRoSVENoR's SPEECH.
In opening, Mr.. Grosvenor said he
had hoped that the Democrats would
meet the issue presented by the pend
ing bill, but they were here with the
same old, stale battle cry" OF 16 to 1.
Yesterday the: gentleman from Mis-
souri, (DeArmondD had charged the Re
publican victory of 1896 to corruption
lie thought 1t ill became the party
which stood sponsor for Goebel in Ken
lucky to charge fraud. For himself, he
did not believe the Democratic voters.
or any other considerable number OF
voters in the country, were purchase
able. Mr.. Grosvenor declared that two
thirds of the Republican campaign fund
in 1886 was used IN the printing and
dissemination of literature.
FIe concluded with q peroration, laud-
ing the prosperity of the country, and
holding it ND as an eloquent COM
mentary on the policies OF the Repub-
lican party.
CAUSE OF BETTER TIMES.
MIR. Newlands, OF Nevada, followed
MIR. Grosvenor i'm opposition to the bill
He traced the history of the country
through the period of depression, COM
mencing in 1893, contending that tho
panic was not caused by the coinage Of
silver under the Sherman act. He said
the increase OF prosperity during the
past two years demonstrates the cor
RICHNESS of the theory entertained by BIZ
metallists, viz, that all other things
being equal, prices wifi depend upU1r
the quantity OF money in circulation.
MIR. Shafroth (Colorado), in opposing
the bill, argued that at the foundation
OF the prosperity in the Harrison Ad-
mlniStration, the depression during the
Cleveland Administration and the
prosperity under the. present Admin
istration lay the supply of basic
money. During the Harrison Admin
istraton, the sherman purchasing act
added four million Il month to the
supply. The repeal of that law at the
beginning of the Cleveland Admins
tration brought disaster and the great
increase In gold production, and the
consequent increase in basic money
accounted for the prosperity under the
present Administration
A. HOUSE OF CARDS.
Mr.. Cochran (MissourD opposed the
bill in a vigorous speech, In which he
contended that the real question pre-
sentcd by the pending bill was whether
there was sufficient gold in the world
upon which to pyramid the vast and
constantly increasing volume of credit
He referred TO the recent dispatches
from London, showing the strug-
gle for gold all over Europe and de-
clared that the gold importations dur
ing the Mckinley Administration had
produced the gold famine abroad.
There was not enough gold in the
world TO do the business of the world.
He warned the Republicans that when
the stock of gold declined the pros
perity of to-day would crumble like
"a house of cards" In the course Of
his speech, when Mr. Cochran rciter-
ated Mr.. Bryan's famous declaration
concerning the crown of thorns and
cross of gold. the Republicans jecred
derisively.
POSES AS a DEMOCRAT.
Mr.. Quiggs, OF New York, was the
first Democrat to speak in favor Of the
bill. When he arose many of the Re-
publicans left their seats and went over
to the Democratic side to listen. Mr..
briggs said that the convention which
nominated him did not endorse the
Chicago platform, nor did it endorse
either gold or silver. AS the nominee
he was left to follow his own convic-
ton.
Mr.. briggs argued that the doctrine
of free silver at 1G to / was not in
harmony with the ideas of some of the
greatest men in the Democratic party.
He instanced the cases Of Madison,
Calhoun and Randall who never
swerved in their allegiance to Demo-
cracy. but who offered specific policies.
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