The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1913-07-23
DEFENDS MEASURE
;.
SENATOR THOMAS BEPUDIATES
CHARGES AGAINST TARIFF
WILL CAUSE NO PANIC

W aklA VItOOA seO iAAsSO
Colorado Senator Delivers Sharp
Speech to Senate, Referring to Wall
Street as the 'sMonte Carlo of. Fin
ance''-John Sharp Williams Also
Takes a Hand.
Senator Thomas, Democrat, Of Col
orado, and member Of the Senate
finance committee, in speech in the
Senats Tuesday defended the Wilson
tariff bill of 1893 from responsibility
for the financial panic which follow
ed 1t and charged former President
Cleveland and the New York banks
with conspiracy to precipitate a cal
amity in order to force repeal Of the
Sherman silver act.
Though denouncing the Wilson bill
Of that time as ga most miserable
pretense OF tariff REFORM he at
tempted to clear its skirts and in the
course of a vitriolic address branded
the New York stock exchange as the
most prodigious gambling hell Of any
age.
Referring to threats now being.
made that "the enactment Of the I'm
derwood bill into law will be a con-
gressional sentence Of death to bus
mess prosperity, Senator Thomas re-
iterated his charge OF the bankers
plot to bring on the panic Of 1898.
After reviewing its history he said:
There can be no denial Of the
origin and purpose of this frightful
calamity. Mr.. Cleveland and the
New York banks conspired to wreck
the progress and prosperity of the
nation that they might be rid Of an
unweacome law.
.sThe Wilson law was the most mis-
cradle pretense. Of tariff reform ever
placed upon our statute books 1t
was eyiscerated by the Senate, agreed
to by the House only because its long
and disgraceful sojourn through the
upper chamber had disguised the
people with the very thought OF tar
if reform, and repudiated by the
president as a thing fraught with
party perhdy, and national dishonor.
tsBut wretched as it was it can
plead mot guilty to the charge Of
bringing disaster to the country"
- He reviewed at length the history
In the Cleveland administration Of
this effort to repeal the silver bill
and the manipulations Of Wall street
and other bankers to bring on trou-
BILE in order to force the issue.
Describing the New York stock ex-
change as one Of the agencies in
bringing on the panic, Senator
Thomas referred to it as ''the Monte
Carlo Of American finance, the most
prodigious gambling hell Of this or
any preceding age.''
.'Tt is the swindler's paradise" he
continued. t'N is a huge vampire
that sucks the blood from the ar
teries of industry. It is an unincor-
porated, irresponsible monstrosity. It
is beyond the pale Of laws. It's vota-
ries pay it homage without trans
crossing any command, for there is
nothing like it in heaven, on earth or
in the waters under the earth. It is
the antithesis of fair dealing and
common honesty. It has sanctifed
speculation. It is the most peTni-
cious influence In the land"
Predicting the re-enactment OF no
such trouble at this time, the sena-
tor concluded:
eff disaster, whose coming is now
80 freely predicted, shall overtake us
) in the near future, it will be caused
not by the enactment Of the pending
revision bill, but by the same in
fuences which produced it before. I
do not say they will do it. do not
think they will do it. They have no
partnership with the administration.
That has been dissolved by the peo-
pie"
When Senator Thomas concluded
Senator Chiffon Of West Virginia had
read from the record speech made
in the Senate by Senator La Toilette
during debate on the WOOL bill In
1911, in which the Wisconsin senator
said anybody with any knowledge OF
the subject knew that the Wilson bill
had nothing to do with the panic Of
1893.
st had that read" said Senator
Chiffon, "because Senator Thomas
has dug the grave Of this argument.
Senator La Toilette erected the tomb
stone, and I wanted him represented
at the obsequies."
Senator Smoot took the floor.
eThere is no doubt in my mind now"
he declared, 'tbut what the passage
Of the Wilson bill was the means Of
bringing to this country great deal
of the suffering that came to the
working people Of this country at
that time and If conditions were the
same now as then, d not doubt
that the passage of the present tariff
bill will bring the same result"
Senator Williams Of Mississippi
said the people at last had found ont
that the Republican argument that
the Wilson bill brought on the great
panic was a lie.
cit took a long time for them to
find out" suggested Senator Warren.
eyes, because there were liars 60
ing about the land preaching this
he," said Senator Williams. There
never has been in history an crgan-
ized lie that could not make an i'm
preston, but now the people know