The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-12-13
Mr.. GrosvenOr Speaks Eloquently I'm
Favor of the Money Bill and Ven
tilates Bryan's Prophecies.
A BOLD, HONEST DEMOCRAT
MIR. DRIGGS, OF NEW YORK, ADVO-
Gates THE GOLD STANDARD.
Tilt Between Messrs. Chandler and
Pettigrew in the Senate-A Phillip
pine Inquiry Resolution.

WASHINGTON, Dec. Is such
great pressure for time on the part of
members of both sides who desire to partic-
ipate i'm the currency debate in the House
that three night sessions were ordered to-
day. Interest in the debate is not keen.
judged by the attendance in the galleries,
although the members themselves are lis
tening attentively 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 him.
self before election to support the gold
standard and proposed to redeem that
pledge. He will be joined by several of
his Brooklyn colleagues and probably sew
eral others. The features of the debate to-
day were the speeches of Mr.. Gr%osvenor, OF
Ohio, for the bill, and of Mr.. Cochran, Of
Missouri, and Mr.. Newlands. of Nevada,
against it. The other speakers were Messrs.
Parker, of New Jersey, William Alden
Smith, of Michigan. Prince, of Illinois,
Lawrence. Of Massachusetts,. and Powers.
of Vermont. for the bill. and Messrs. Shaft
roth, of Colorado. and Sims. of Tennessee,
against it.
Mr.. Grosvenor was the first speaker to-
day. In opening he said he had hoped
that the Democrats would meet the issue
presented by the pending bill, but they
were here with the same old stale battle
cry of 16 to l." Going back to the platform
declaration Of 1896 Mr.. Grosvenor produced
a poll of the members Of the committee
OH resolutions of the St. Louis convention
to show that an overwhelming majority
favored a gold declaration before the con-
vention met. The only controversy since
had been as to who was responsible for
certain verbal phrases. He reviewed the
Democratic predictions in the last cam
paign, prophesying no relief. but contin-
ued falling prices. 10-cent corn, 25-cent
wheat, Scent cotton and general distress un-
I'll. free silver came, and then described how
prosperity followed McKinley's election and
the restoration of confidence. The Demo-
erats predicted we would have no foreign
trade. That trade was now larger thar
any period in our history. Another predic-
ton was contraction of the currency. The
currency had increased $500, 600, 900 in three
years. Referring to the question of anti
trust legislation he challenged any Demo-
crat to point out any addition which could
w AAoNO 1OhotithllOudily W luc OHeTIldH
antitrust law. He dissented entirely from
Mr.. Bryan's remedy. He commended. that
Congress could not assail corporations in
the states, that the States should control
and regulate their own domestic affairs.
LOUDER THAN HUMAN VOICES.
In conclusion Mr.. Grosvenor said: Mr..
Chairman. the Republican party does not
need oral argument in the halls Of Con-
gress, nor dissertations in the press of the
country on these vital questions. There
are voices which proclaim the triumph of
Republicanism that do not depend upon
human organs for their effectiveness. The
mighty volumes of flame and smoke pour
ing from the chimneys of enormous indus
trial establishments wave a beacon light
to heaven announcing the triumph of pro-
tective tariff and sound money. Mingled
with the click of the pick in the coal mines
OF Ohio, Pennsy .Jania, Indiana and West
Virginia is the voice of our workingmen
well paid where starvation wages were in
force, we'll fed where starvation stalked
with gaunt horror-well clothed. we'll edu-
Gated, satisfied, contented, happy. On every
railroad line from the Pacific shore to the
Atlantic coast tens of thousands of laden
cars mingle the voice of machinery with
the Endorsement of Republican action.
The happy husbandman upon millions of
acres of fertile soil. as he returns from
llo idpOl III lb6 lIo CllO NSo WILL llllIs
realizes in an advancing market wider de-
mands for his product, the entering of a jul
bilee, and his voice is heard in perpetual
argument in favor of sound money and
protection. The scratch of the pen upon
the record in the Northwest and the South
west as it cancels the millions of mortgages
placed there in the hour of Democratic
distress and starvation now Cancelled
by the payment of money that has come
to the owners of these SPLENDID farms
through the intelligence and patriotism of
Republican administration joins In the
grand cry of Endorsement all along the line.
AS in the olden time the morning stars
sang together for joy and all the sons of
God rejoiced, so from Maine to California,
from the North to the South, from the
East to the West the sOn of toll, the sons
of business, the sons of America, join i'm
the glad shout that browns the feeble voice
of partisan speculation and partisan de-
nunciation. in the grand. glorious, ringing
chorus of a redeemed and happy Nation
TGreat Republican applause.]
Mr.. Newlands followed Mr.. Grosvenor
in opposition to the bill. he traced the
history of the country through the period
of depression, commencing In 1873, contend
ing that the 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
rectness of theory entertained by bimetal-
lists. namely, that all other things being
equal. prices will depend upon the quantity
of money in circulation; that an increase or
the money volume meant higher PRICES
and the diminution of the volume meant
lower prices.
A SILvERITE'S VIEW.
Mr.. Shaffroth. in opposition to the bill,
argued that the foundation of the prosper
itv In the Harrison administration. the de-
preston during the Cleveland administra-
ton lay In the supply of basic money.
During the Harrison administration the
Sherman purchasing act added si,WV,VW a
month to the supply. The repeating of that
law at the beginning of the Cleveland ad-
ministration brought disaster and the great
increase in gold production and the conse-
ouent increase in basic money accounted
for the prosperity under the present ad-
ministration. -
Mr.. Parker in support Of the bill argued
that the pending question should not be
a party one.
William Alden Smith spoke in advocacy
of the bill. The steady growth OF the cir
culation during the past three and a hait
years. aggregating 476,OcO,0 w gave the lie
TO the advocates of free silver. Our COM
merce with gold standard countries last
YEAR aggregated $1,000. 0O, 1000, with silver
countries $139, 600. 900. How idle 1t would be.
then. to jeopardize that by go
ing to a silver basis.
Mr.. Prince. who was a member of the
oOrn IN n