The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-13
A LONESOME DEMOCRAT
briggs, or NEW YORK, FAVORS
THE BILL.
OTHERS ARE TO SUPPORT HIM LATER
Mr.. Cochran Declares That the Struggle For
Gold Now in Progress in Europe istae
Result of Our importation
of Gold.

Washington. ID. O., dec. l2.-Ihere Is
such great pressure for time on the part
of members on both sides who desire
to participate in the currency debate in
the House that three night sessions We're
ordered today. Interest in the debate is
not keen, judged by the attendance i'll
the galleries, although the members
themselves are listening attentiyely to
the speeches.
Only one Democrat thus far has spo-
ken in favor of the bill, Mr.. briggs. of
New York, who announced today that
he had pledged himself before election
to support the gold standard and pro-
posed to redeem that pledge He will
he joined by several Of his Brooklyn col
leagues and probably several others. The
features of the debate today were the
speeches of Mr.. Grosyenor, of Ohio, for
the bill and of Mr.. Cochran, of Missouri,
and Mr.. Newlands, of Nevada, against
it. The other speakers were Messrs.
Parker IN. j.. William Alden Smith,
fMich.), Prince, Ills.), Lawrence,
(Mass.), and Powers. lVtl, for the bill
and Messrs. Shafroth, (rolo.), and Sims,
(Tenn.). against it.
In opening Mr. Grosyenor 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 sixteen to one.
Yesterday the gentleman from Missouri
lDeArmOnd) had charged the Republi-
can victory of 1896 to corruption. lie
thought it i'll became the party which
stood sponsor for Goebel III Kentucky
TO charge fraud. For himself, he did
not believe the Democratic voters or any
other considerable humber OF voters in
the country were purchasable. Mr.
Grosven6r declared that fwo-thirds or
the Republican campaign fund in 1896
was used in the printing and dissent
nation of literature.
He concluded with peroration laud-
ing the prosperity of the country and
holding it up as an eloquent commentary
ON the policies of the Republican party.
Mr.. Newlands (Nev.), followed Mr..
Grosvenor in opposition to the bill. He
traced the history Of the country through
the period of depression commencing in
1893 contending 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 correctness of the
theory entertained by bi-metallists, viz,
that all other things being equal, prices
will depend upon the quantity of money
in circulation.
aIr. Shafroth, (Colo.), in opposing the
bill argued that at the foundation of
the prosperity in the Harrison admins
tration, the depression during the
Cleveland administration and the pros
perity under the present administration
lay the supply of basic money. During
tile Harrison administration the Sher-
man purchasing act added four million
monfh to the supply, the repeal OF
that law at the beginning of the Cleve-
land administration brought disaster and
the great increase in gold production
and the consequent increase in basic
money accounted for the prosperity un.
der the present administration.
Mr.. Cochran, Mo-, opposed the bill
in a vigorous speech, in which he con.
tended that the real question presented
by the pending bill was whether there
was sufficient gold in the world upon
which to pyramid the vast and CON
stantly increasing volume Of credit He
feIeTftu 10 tue IettIl dleItdlcUtS IEDlH
London showing the struggle for goo
all over Europe and declared that thu
gold importations during the Mckinley
administration had produced the gole
famine abroad. There was not enough
gold in the world to do the business oi
the world. He warned the Republicans
that when the stock of gold declined
the prosperity of today would crumbIt
like house Of cards In the course o.
his speech when Mr. Cochran reiterated
Mr.. Bryan's famous declaration con
cerning the crown Of thorns and cross
of gold the Republicans jeered deris
lively.
Mr.. briggs, (N. ". was the firsf
Democrat to speak in favor of the bin
When he arose many OF the Republi
cans left their seats and Went over e
the Democratic side to listen. Mr.
briggs said that the convention tha
nominated him did not endorse the Chi
cago platform nor did it endorse eithel
gold or silver. As the nominee he was
left TO follow his own conviction. Mr.
briggs argued that The doctrine of FIRE,
silver mt Is to / was not in harmon,
with the ideas of some of the creates
men in the Democratic party. He in
stanced the cases - an, Calhoun
and Randall win wed in thei
allegiance to Den f announce
that he would consisten