Show THE taff lalli pron CLOSE D ex erealu tom ned fa favors S unconditional dit ional 11 rei enah eal BLANS BLAND AND WILSON HAVE A GO democrats blaye led on both sides bides oi of the great financial fight just juat over on saturday the great silver debate was dosed closed in ih congress the ilie galleries were packed and the e speaker pea k er announced that the debate in favoron favor favo of the bill would be closed by its author mr wilsn Vil soi of west virginia anil and opposed by mr bland of missouri AF 11 11 1 M I 1 X I 1 1 A A n R y P mr clarke clarice of alabama was the first speaker sneaker he believed it the duty of Con congress grass to fix the ratio at r ag to 1 still he e would not cast a vote that hat would continue the paralysis of the industry of the was necessary that tone s fore ore confidence the trouble is a due to the purchasing of silver under the sherman shei man law as ar people believed and whether that belief was correct cornec or not nol lie he would ote note to reveal repeal the law or do anything any thill to restore confidence the next speaker was lion ilon thomas thom a B aeed of ofal maine laine after sketching briefly the financial condition of the country and declaring lie he had no desire to deal with the situation froni from a political standpoint lie proceeded 1 ceedee to say that the Democrat democratic if party was brought a into power by curious urious combination of circum stal stai tes es but in a large 0 measure by the american people the consciousness of this fact lie he haid underlies the entire situation I 1 lie would not raise the question whether protection was wise or not but the file fact remained wat that even if it were admitted that the propositions of the democratic platform were entirely correct that system upon which the manufacturers of 1 the country had been regulated for thirty years was threatened ried with a total chatie change chati e whether that change M e would be for the better or not no man can know what the democratic party proposed to do nobody can say they not even know themselves the th speaker lid did not believe the democratic party was utterly bad thit they would be permitted to lo be so is they desired A w 1 11 r W I 1 walson if the bof the tariff were in the hands hand 3 even of its friends who favored protection instead of those who denounced it business would be stagnant or at a standstill but when its reformation was in the hands of men opposed to the present system the manufacturers of the country who build on the present system must necessarily call a liall if their cro docs ale to come collie in ill CC competition with the manufacturers of other lands where production is 1 5 on a differ different Crit basis labor is differently regarded no manufacturer will dare to manufacture more than absolute necessity requires ile he characterized the cause of the p present r besent condition of affairs as being the undiscoverable uncertainty of the future e of both qurren currency cy q questions aes ues and question of protection and ar id revenue tariff lie ile considered the sherman act and the accumulation of silver as the earliest indication of the approaching disaster rather than the thief cause ile he did not believe the democratic congress even under the pressure of the people T r i uld revise the tariff or that wor man glien would be brought back adi an to the condition of workmen baer under the walker act but had no doubt there would b be doubts and difficulties and reductions it was not to lie be expected that the democrats after thirty years of criticism of of others should be lifted at once to the hi hiher higher her level of responsibility and performance time only could do that until that time come they could rely on the ex istance of the republican minority in the direction of sound cound government and hon honest es artion the speaker was sorry the democratic majority would not permit in it I 1 the he republicans to ex exhibit h ibi t their r wisdom in the N way ay of amendment but confined them to the democratic proposition ile he would waste no time in showing that the rights of the minority are autra outraged 0 ed ile he recognized the necessity and duty of the party in power of assuming 0 the th responsibility of its action ile he was only sarry sorry the question could not be settled within the bonds of the democratic cratic party itself but everybody knew the majority of democrats would decide against the good dihe did not bof belie believe ve the repeal of the sherman act would give immediate prosperity he would vote for it because whether justly or not it is believed to be the cause of hoarding boarding currency curre nev and because only by repeal repe pe 2 I 1 could the nation bode liepe to attack foreign capital lie he character izod the char charge c that the law of 1873 was a trick as one of the most stupendous fabrications which ever existed in political life V z 7 Z zat my IT I 1 BOURKE COC IirAN kv the pathway of duty is unconditional repeal if that did not give relief we must try something elso eio an and d the sooner the better th the c 1 republicans L e public ans found themselves in in a peculiar position the newly chosen democratic president found himself if powerless in liis his first k great reat re recommendation to his own party and was forced to appeal to the patriotism of another party whose patriotism lias has never been appealed to in ill vain the speaker sketched the salient points in the financial history of the Ile republican publican party and closed saying that when the day came as it sure surely would for that party to lead the country back top to prosperity r 0 s it would take back with ditl i it ancient glory undimmed by adversity our ancient honor boner unsullied by defeat mr reeds closing remarks were received with a prolonged longed outburst of applaud ile he was followed by mr ienir dearmond r ot of missouri MiE in opposition to unconditional repeal mr dearmond took carlisle to task tak for following dowid the ruins financial policy ol of his predecessor had the sherman law been properly excited the part party would have been maintained this might be true but lie he did not believe the story that tho the democrats and republicans odthe of the senate had agreed to drop the tariff reform to secure the passage of the repeal bill lie ho would protest protea against arrangements the dividing linus were the money powers of the cast with foreign backing against the toi toiling ling masses of the west and south mr williams of the repeal bill lie ile contended that the sherman law was not responsible for the punic panic although the panic was the legitimate 0 offering of the republican party to repeal the S sherman lierman law would bo be to break the last link binding gold and silver 1 ile he was followed by mr A alien ilen 0 of f mississippi in opposition to repeal in a speech of full humor mr chukran Co of new york was the next speaker after some preliminary utterances lie he said baid the democratic platform did not declare for free coinage of silver an attempt was made in the convention vf by a delegate from colorado to commit the no ty to that pin principle ciple but lie he failed to secure cure ten tell votes vote colorado and nevada were declaring declai ing that the party were departing from the platform in this in matter atter if that was so why why 4 NO 6 41 R 1 aw q v 11 did those states take to the woods in the action of it was because e those states had abandoned tb the democratic platform that perce ca was elected to the house from col orado t ile he declared that hd heas i on ru t az fee 11 B I 1 an borove d do M rove otherwise and asserted that no instance could be found in the history of civilization where gold and silver circulated side I 1 by ay side at any ratio the fluctuations were such as to constantly drive out the dearer metal france had bad to import of gold to maintain the parity and the united states would have bave to do the same under the same circumstances ile he controvert ed the assertion of byran of nebraska that silver was still the basis of N value alue of the farmers products saying 0 if that is so why do do you not 0 give him the full value of it ya you U would give the farmer grains rains of pure silver while le 1 I aou would id give him the pro proposed nosed debasement anent of coin would reduce debts 45 per cent ervan bryan assumed that the loss would fall on oil the banks but the fact was the banks and the corporations were tho the debtors of the country and the working inen nien the cred creditor itom ile he denied that gold had appreciated never before did the laboring man of america so much gold for his labor blaud bland and byran propose in their plans to make the bankers of new york a present of in the settlement of the accounts with the depositors and deprive the laboring 0 man of 15 per cent of the value of his york work y na R R N N S 00 X I 1 sk 41 1 1 1 V 1 I 1 W D mr byran interrupting asked if that was so why new york banks denounced himself and bland and why grand master powderly was with them mr cockran replied that the banks had learned that in business and politics honesty is the best policy mr Coal cockran cran claimed that busi mr 5 M all NO ni a P 7 I 1 11 G VEST 11 ness ess depression depression ep was always lue due to the inflation of the currency or of credit bt biond nd the capacity of the to support the ope operation operate rati off lot the law laar proves this itji it increased the currency now stringency follows Blands lland cpr opposition to give grains of silver fur for 6 would bo be called robbery if related to wheat or corn the farmer suffered most in the depreciation of prices under the sherbian She shen rhian nan law and it was a strange friend of the farmer who desired its continuance cockran spoke of the unity of interests of I 1 the whole country and tho the effects of an attempt to sectionalize it to any basis would result in benefit to no one WR me closed wih an all eloquent appeal for equity and justice as tho the basis of the governmental policy awaking a whirlwind of applause ami friia of vote the speaker was overwhelmed with congratulations on his hh ma magnificent ent effort cifor t the excitement on the floor was so great that the speaker ha had d to call on the officer of tact house to restore order mr bland then began the closing argument in behalf of the silver men ile he said that if the gentleman from j new york cochran who whose se finai nn ancial cial theories evidently ga i 1 froia the manipulation 0 A til d ap ua go 0 o to that itry where iad h e nad T r r were obtained the agricultural 0 products shipped abroad in order to bring back the european gold necess necessary arv to austain the public 1 1 ka 4 PC k DAVID D credit lie he would understand why the gentleman eitleman ent leman and himself so radically differed in their views it was true as the gentleman said it was to the product of the a soil oil of this country that the financiers of this goi government ern ment looked to bring back the gold of europe in order orde r to maintain our present financial system all the do dogmatic matic utterances of the gentleman ent leman from new ew york mr cockran were made in the face of history and in the face of truth pie ile bland lid did not defend the S herman act and if lie ho could put in its place a provision for the free coinage of silver at a ratio of IG ac to 1 he would vote for its repeal lie ile saw no reason whatever for changing the existing ration of 16 to 1 the production of silver and gold for the last hundred years had bad been a ratio 0 of f about io to 1 and was the ratio of silver coinage 0 of f different nations of the world the propositions to be substituted were for the free coinage of silver at any ally of the ratios fixed that meant th that at the people should issue from their mint their own money and not let it be issued by the banks so far as the operations of the sherman bill was concerned the people issued their own money under it and what harm after all did silver in the treasury do although the sherman act was not in conformity with bimetallism yet under it thirty or forty million of greenbacks green backs a year had been put in circulation ile he sent to the clerks dealand hall bad read a dispatch referring to an all article in the new york evening postas post as to the application of pressure in favor of a repeal of the sherman act suggested being a threat to withhold kredits e credits from country merchants ile he denounced the article and declared that it was a notorious fact that the people of the south and west who had money on deposit in new york banks could not have their checks paid this was being done to weaken western banks and to have an influence upon representatives in the house an M I 1 7 10 4 X i je DANIEL W TIERa the silver men in the house had offered several compromises if those compromises were rejected there would never be another corn com promise pro mise offered red applause j to main fila ant to io dem demonetize onetis silver and to lower the prices of labor the wilson bill asked the united states congress to so legislate as to add prosperity to england and australia and to distress and place in ill ad the farmers and miners of america ile he had bad not advocated the sherman law ile he had voted against it but it was now the last bulwark of silver it was proposed to demonetize silver now was the time to let the country know who were the friends of silver and bimetallism in this house to strike down silver would mean a political revolution that would strike down both the great political parties for one he was willing to join the people even though the democracy would have to go to the wall applause mr mcmillin fillin of tennessee was the next speaker ile he said there were three kinds of currency in the country C gold old silver and pap paper and he be would keep keel those three three kinds of currency each cach of them equal to the other ile he would resist any effort to legislate 0 destruction to either of these kinds of currency r ile he did not want mono in either silver or gold ile he wanted bimetallism ile he intended to offer au an amendment to the silver coin coinage age 0 pro proposition posit ion that there should be collected on all silver not minted and owned in the united states the actual cost of coinage and in addition the difference if any between the face of the silver coin and the market value of bullion th that at would cut off the foreign product of silver continued on fifth page fage THE DEBATE CLOSES CLOSED continued front from F first arst page he was even willing 0 to vote for a change in the file ratio ile he declared his belief that democrats had haet been sent to congress to deal not alone w with ith the cur currency rency question oil but with the tariff arid and with the question of the force bill they were called upon to revise the pension roll which had a million pensioners on oil it they were called upon to revise the alie tariff and they were ivere tailed called upon to reform the currency the latter ought to bo be done without unnecessary delay then the others could be taken up mr gear said that in his jud judgment 0 the sherman law had been enacted to prevent the enactment by the democrats of a free coinage bill he should vote for the repeal of the sherman act ile he could not vote for free coinage with a ratio of 16 to 1 A ratio of 20 to 1 would be somewhat better but even with that in the markets of tile the world silver dollars would be 33 03 por per cent below par sir mr wilson of west virginia author of the bill closed the debate late with a speech in support of the measure by universal consent sent he said the so called sherman act failed to justify the expectations of those who framed it it had bad been expected to raise the price of silver bullion throughout the world that expectation had |