The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-11-16

facing a deficit. The revenue had been
cut down some $60,000,000 by the McKin-
ley tariff and we were spending $50 900, 900
per year for silver bullion Under the Sher-
man Act-both of which were Republican
measures, and passed by Republican
votes. The panic began In June. 1893. 1t
was the natural consequence of the Sher-
man Act and Of the silver legislation that
preceded it. President Cleveland's first
act was to call an extra session of Con-
gress to repeal the Sherman law. Was
it in that way that Mr.. Cleveland brought
on the hard times? Is 1t Senator Hoars
opinion that the panic of 1893 was brought
on by the man who caused the Sherman
Act to be repealed? Did Mr.. Cleveland
cause the Sherman Act to be passed in
1890 or was Mr.. Hoar himself, in con-
junction with Senator Sherman and Will
liam Mckinley. responsible for that dis
astrouS measure?
If any person DESTROYS of knowing the
real facts will turn to the Congressional
Record of April 20, 1896. (page 1859 he
will learn the secret history of the Sher-
man Act as it was told in open Senate
by Senator Teller, who was at that time
Republican of unimpeachable standing
| in the party. Mr.. Teller said THAT in 1890
the House had passed and sent to the
Senate a tariff bill which he and other
Republicans favored. He, however. want
ed to pass also measure for the free
coinage of silver. A majority of the Sem
ate was in favor of the latter, and they
contemplated the project of attaching 1t
as an amendment to the ariff bill and re-
quiring the House to accept 1t in that
form. But they became satisfied after a
while that President Harrison would veto
q bill Of this kind, even If he should
thereby kill the tariff bill. So they de-
cided to accept the nearest thing to a
free coinage bill that they could get. In
order to prepare the ground for II COM
promise they took up :he House tariff
bill and adopted as a substitute for 1t a
| free coinage bill that had been introduced
| by Mr.. Plumb, Republican Senator
from Kansas. The bill went back to the
| publican leaders in the House had be-
come alarmed and Mr.. Mckinley. who
was himself free coinage man, moved
to take up a silver bill that had been
recommended by Secretary Window. The
object of this move was to pave the way
for compromise The Window bill was
amended by adopting another pending
measure, the Conger substitute, and
| passed on June T. During the debate on
| this measure Mr.. Mckinley said:
Vote against this bill and. in my judg-
ment, you vote that there shall be no leg
| islation on the silver question at this SEES
| sion of Congress That is what / fear
| it means. We know we cannot have free
| coinage now except in the manner as pro-
| vided for in this bill.
| In due time the Plumb substitute and
| the Conger substitute came before a con-
| ference committee of the two houses and
| the Sherman bill was the outcome. II
was adopted by the House July and by
| the Senate July TO- and Senator Hoar
| voted for it, as did also every Republi-
| can Senator present And now he has the
| face to say that the hard times were
| brought on by President Cleveland. Per
| haps he thinks so, but if he does, we
must be allowed to say that his minc
question than it does upon the financia
! question.