Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-07-15
Senator Thomas Charges Con-
spiracy in 1893 to Force Re-
peal of Sherman Silver Act,
DENIES THAT WILSON BILL
CAUSED PANIC THAT YEAR
But Denounces Measure as Most
Miserable Pretense of Tariff
Reform"

Senator Thomas. democrat of Colorado.
and member of the Senate finance COM
mittee. in a speech in the Senate today
defended the Wilson tariff bill OF 1893
from responsibility for the financial panic
(which followed ii. and charged former
President Grover Cleveland and the New
York banks with conspiracy to precipi-
tate a calamity in order to force repeal
of the Sherman silver act.
Though denouncing the Wilson bill at
that time as "a most miserable pre-
tense of tariff reform he attempted to
clear its skirt, and in the course of a
vitriolc address branded the New York
Stock Exchange as the most prodisious
gambling hell of any age.
Referring to threats now being made
that 'the enactment of the Underwood
bill into law will be a congressional
sentence of death to business prosper
ity." Senator Thomas reiterated his
charge of the bankers plot to bring on
the panic of 1898
Cleveland and Banks Conspire
After reviewing it's 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 unwelcome law.
The Wilson law was the most mis-
cradle pretense of tariff reform ever
placed upon our statute books. 1t was
eviscerated by the Senate, agreed to by
the House only because it's long and dis
graceful sojourn through the upper
chamber had disgusted the people with
the very thought of tariff reform, and
fraught with party perfidy and national
dishonor. But wretched as it was, 1t can
plead not guilty to the charge of bring
ing disaster to the country"
He reviewed at length the history in
the Cleveland administration of his ef-
fort to repeal the silver bill and the ma
of Wall street and other
bankers to bring on trouble 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"
Beyond the Pale of Law.
1T is the swindlers' paradise he con-
tinued. 1T is huge vampire that sucks
the blood from the arteries of industry.
1t is an unincorporated, irresponsible
monstrosity. 1t is beyond the pale of
laws. Its votaries pay it homage without
transgreSsing any commandment. for
there is nothing like it In heaven. in
earth or in the waters under the earth.
1t Is the antithesis of fair dealing and
common honesty. 1t has sanctified specu-
lation- 1t is the most perniciOus and
cOrroding influence in the land
Predicting the re-enactment of no such
trouble at this time, the senator con-
cluded: If disaster. whose coming is
now so freely predicted, shall overtake
US in the near future, it will be caused
not by the enactment of the pending re-
vision bill but by the same influences
which produced 1t before. l do not say
they will do it. / do not think they will
do it. They have no partnership with
the administration That has been dis
solved by the people"