The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1899-12-23
HON. T. A. M'LAIN'O
GREAT SPEECH on THE FINANCIAL
QUESTION.
Delivered in Congress December
IA, 1899.

Representative Frank A. Nc
Lain, Of the Sixth Mississippi
district, delivered one Of the
greatest speeches Of the Demo-
cratic side on the currency debate
in the House. Mr.. McLain's de-
livery was as foreeful as his ar
guments. During his speech he
commanded the closest attention
of both sides of the House, and
on its conclusion he was warmly
congratulated by his Democratic
colleagues. Some Of the points
of the speech are as follows:
THE question under consider
alton is momentous one. II is
over topped by none other, not
even by trusts, nor by expansion
and Imperialism. 1t is a radical
departure pregnant with evil,
which some day will prove a curse
to this country. In my humble
| judgment when you pass this
bill, no measure that will pass
this Congress, or has ever passed
the American Congress, will be
more whitening and crushing. in
the long run, to the busines m
terests of this country. Barring
our future action on the Philip
pine question and kindred ones,
other legislation we do here may
come and go, wither and perish,
but the evil and bitter fruit that
will flow necessarily from the pas
sage of this bill, will, in my judg-
ment, live and abide long after
we are asleep in the bosom oI
mother earth.
''The aim of the Republican
party, as voiced in this bill, is alb
: solutely startling. 1t is bold. Il
is defiant. think it can be truth
fully denominated as a bill in the
interest of bond holders. 1t is
practically turning the financia
system of the government into the
: hands of the money power of the
. country. To fasten the golc
: standard on the country is theiI
. aim. They are clamoring for it,
Solemnly do they echo in tones oi
commanding confidence, one tc
. another the cry of Sound money,
honest money They cry out
: aloud to those who are under OBJ
: legation to them, we must have
2 it now, right now. In response
to this demand, all other business
is laid aside by this House. Yes
all precedents are violated to rail-
road this pet measure through
this House. If the bond holder:
Of this country had prepared thi,
5 bill, could it have been made
stronger in their interests?
. ''The law is not needed. The
: people have not demanded it,
When its unjust, and ! might say
cruel provisions are thoroughly
/ understood by the people, they
will repudiate it and hurl from
/ power the party that enacted it.
Mr.. Chairman, in the support o
! this measure much has been sale
about prosperity in our land.
admit that times are better.
will admit that labor finds ready
employment, and pray God tina
it may not only remain with vi
but go on and on growing brighte
4 and better as the months anC
years roll around. 1t is LOUDLY
heralded abroad that this is al
y evidence, an object lesson, tina
bimetalism is wrong and that th'
: gold standard is right. We arr
taunted with this. Who brough
around better times? Was it thl
Republican party? Was it thu
gold standard? mol The grea
prime cause is, that within the las
few years, the money volume hal
il been increased to an unprece
d dented extent, and in a name
Y and way that no one saw or reas
/ onably expected. 1t came not b,
n the bidding or through the instru
J. mentality Of the Republican part,
a or statutory law. Nature has re
y sponded copiously to the toiler o
Il the mines. In 1898 the produc
q ton Of gold was the greatest II
d the history Of the world, it bein.
d $3.50, 900, 900. and il Is confident
II ly expected and asserted that 70
>. the year 1899 the production 0
If gold for the world will reach TIL
+ fabulous sum OF 500, 900, 600
This increase Of the gold supply
instead OF proving that the gols
q standard is correct, and the bi
metallist contentious are wrong