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S P E E C H



The House having under consideration the bill (H. R. 1) to repeal a part of
an act, approved July 14, 1890, entitled " A n act directing the purchase of
silver bullion and the issue of Treasury notes thereon, and for other purposes"—

Mr. MOSES said:
Mr. SPEAKER: When the gentleman who has just concluded
began his speech by saying that no one who had hitherto spoken
knew anything about the question under discussion, we all
thought that when he got through we would know something
about it, and I want you to-morrow morning to read the RECORD
and see how much clearer it is than it was before he threw his
great light upon it. He says the reason why gold is coming
from Europe is because we are selling our securities there; that
the European bankers know a good thing when they see it, and
they are buying American securities because they are cheap. A
New Y o r k banker [Mr. HENDRIX], in his speech upon this floor
a few days ago, said that the English holders of American securities are throwing them upon the market through fear that we
were going to a silver standard. Surely if Europe were now buying our securities the New York bankers would know it. The
truth is, they are mad because Europe will not take these watered stocks.
Mr. Speaker, both the great parties in formulating the silver
plank of their platforms state that they favor bimetallism because it is conducive to the interests of the " farmers and workingmen."
Section 7 of the Democratic platform is as follows:
We denounce the Republican legislation known as the Sherman act of 1890
as a cowardly makeshift, fraught with possibilities of danger in the future
which should make all of its supporters, as well as its author, anxious for
its speedy repeal We hold to the use of both gold and sUver as the standard
money of the country, and to the coinage of both gold and silver without
discriminating against either metal or charge for mintage, but the dollar
unit of coinage of both metals must be of equal intrinsic and exchangeable
value, or be adjusted through international agreement or by such safeguards
of legislation as shall insure the maintenance of the parity of the two metals
and the equal power of every dollar, at all times, in the markets and in the
pavment of debts, and we demand that all paper currency shall be kept at
par with and redeemable in siich coin. W e insist upon this policy as especially necessary for the protection of the farming and laboring classes, the
first and most defenseless victims of unstable money and a fluctuating currency.

You notice it says:
We insist upon this policy as especially necessary for the protection of the
farming and laboring classes.




W h y do not you now—

insist upon this policy as especially necessary for the protection of the

I say to you as a practical farmer myself, and representing an
agricultural constituency, that we accepted the platform in good
faith, and we expect it to be carried out to the letter.
You said you would insist upon it in the interest of the farmer.
And our Republican brethren say:
The American people from tradition and interest favor bimetallism. * • •
The Interest of the producers of the country, its farmers and workingmen, demand this.

All parties were especially anxious before the election t > do
something for the farmers. Many doctors have volunteered their
services to this sick man in our body politic. On yesterday the
gentleman from Ohio [Mr. GROSVKNOR] told us the reason wfly
we were not in a prosperous condition was because we had repudiated high tariff. W e were poor because we had refused to
support the tariff barons of the country any longer.
In olden times the first thing the doctor did when he came to
see a sick man was to bleed him, and if the patient turned off
one doctor and sent for another he would be bled again; and it
often happened that the poor patient was bled to death.
Now, these Republican doctors have been bleeding us for
thirty years. W e got up and kicked them out and engaged the
-services of the Democratic party because we favored the treatment they proposed. They now say that treatment would be
-fatal. Democrats from New York now say to us, " T h e tariff
robber has been bleeding you all these years, and now let us
hleed you on the other side."
You promised to secure us from the clutches of the plunderers
of the people, and now some of you propose to add 40 per cent
to their burdens. Leaving their hands in one of our pockets,
you run yours into the other. New York sends one of her bank
presidents here [Mr. HENDRIX] to act as the guardian of the
farmer! May God pity the ward!
Mr. Speaker, I am-not here to say that any man has violated
his oath of office, as the last gentleman who spoke said of the
President of the United States. I do not propose to say that
any gentleman upon this floor has not the same right to his
opinions that I have. I concede that every member*of this
House represents an equal constituency; and I impugn the motives of no man; but we dome to you with our contract, we come
to you with our agreement made at Chicago, and shall ask you
to stand by it.
Some of you propose to repeal the Sherman law of 1890 and
g o home. Where would that leave us? Just as we stood after
the enactment of the Sherman law of 1873. After denouncing
that crime for twenty years jrou now propose to repeat it. In
other words, we must, in order to save the country, go back to
where the Republican party left us before we had secured either
House in Congress. No one can deny that to simply rej>eal the
Sherman act of 1890 would bring us where we were left in 1873.
What could we tell our friends at home? You have during all
these years denounced the demonetization of silver as a "cowardly
•crime",r and now you condone that crime. After denouncing the

Sherman act as a "cowardly makeshift," you promised the people
to " hold to the use of both gold and silver and to the coinage
of both metals." You now siy it would be dishonest to redeem
that pledge.
No wonder my friend from Ohio [Mr. GROSVENOR] was emboldened to claim that the Republican party was the "honest
party," when we stigmatize the policy for which we have always
contended as dishonest. You abandon your own principles to
adopt those of this "honest" party, which in 1869 raised the
debts of the American people 3o per cent at the dictation of the
bondholders! A party that has stolen everything, from the
Presidency down to the dollar which the poor negro intrusted
to its keeping. A party that has legalized robbsry until a longsuffering and outraged people hurled it from power.
Mr. WILSON of Washington. Can I interrupt the gentleman
to ask him a question?
Mr. MOSES. I am trying to make a plain statement of the
case as I see it, and do not wish to be interrupted.
Mr. WILSON of Washington. The gentleman has spoken
about the Sherman law of 1873. I know there is a so-called law
of 1890; but he speaks of the Sherman law of 1873. Can he tell
the House how the Senator from Ohio voted upon that law?
Mr. MOSES. I refer to the law demonetizing silver in 1873.
Mr. WILSON of Washington. How did the Senator from Ohio
vote on that bill?
Mr. MOSES. I do not know how he voted.
Mr. WILSON of Washington. Well, he voted against it, and
Senator STEWART of Nevada voted for it.
Mr. MOSES. How he voted has nothing to do with my argument.
Mr. WILSON of Washington. Then you should not denounce
him as having voted for it when, in fact, he voted against it.
Mr. MOSES. I have not referred to Senator SHERMAN. But
Mr. SHERMAN is in favor of the demonetization of silver.
Mr. WILSON of Washington. But you spoke of the demonetization law of 1873 as " the Sherman law," while the record
shows that Senator SHERMAM voted against it.
Mr. MOSES. That has nothing to do with the argument I was
making, that the policy now is, by repealing the law of 1890,
to carry us back to just where the country stood after the passage
of the act of 1873. Do you deny that proposition?
Mr. WILSON of Washington. We would be upon the same
standard as since 1834.
Mr. MOSES. I mean as to bimetallism.
Mr. WILSON of Washington. Oh, we are all bimetallists except thb free-coinage silver men, who are monometallists—all for
Mr. GROSVENOR. If we repeal the Sherman act it will not
revive the Bland-Allison act, under which we lived from 1878.
We shall be simply without a law on the subject.
Mr. MOSES. Of course it would not revive the Bland act. It
would strike down all Democratic legislation on the silver question.
Mr. Speaker, the Republican party began it3 career under
Gen. Grant in 1869. Congress was convened on March 4 in

extraordinary session. New York and London hud lost confidence in us, as now. The people then owed billions, a great
part of which was payable, according to the contract, in " lawful money." It then took $135 of greenbacks to buy $100 in
specie. They demanded that the Government should pay its
greenback debt in coin. They rushed this infamous measure
through in fourteen days—the same number allotted for the bill
now under consideration. Thank God, not one Democrat voted
for it in either House. It cost us billions to restore Wall street's
A MEMBER. They were all for repudiation, were they?
Mr. MOSES. For twenty years you have been raising the
standard of values in this country, and when the people cry for
relief you add 40 per cent to their burdens by striking down onehalf the money of the country. The party that does it will be
ground into atoms under the feet of an outraged people. The
way to pay an honest dollar is to pay the same dollar borrowed
—not one that has been appreciated or debased. We should gee
to it that justice is done as between citizens of our own country.
Say that a young man borrowed money to buy a farm in 1873.
He gave his note, payable in six years. He bought the farm in
1873 with greenbacks, borrowed when gold was at $1.25. Congress passed the resumption act, which made all debts coin
debts, and declared that when he jmys that debt he shall pay
25 per cent premium, in addition to interest.
Mr. WILSON of Washington. Is the gentleman in favor of
silver or of greenbacks?
Mr. MOSES. I am in favor of a gold and silver standard, the
constitutional money of the country, and a paper* currency convertible into either. Then I would expand this currency until
we had at least $50 per capita in actual circulation. I would resume the coinage of silver at a ratio of 16 to 1. If then, when
both metals are treated alike, silver should remain at a discount,
I would increase the weight of the silver dollar.
Mr. WILSON of Washington. I wanted to ask the gentleman,
because I am much interested in his remarks
Mr. MOSES. Here is what I said: I siid that pur people in
your State and mine in 1870, 1871, 1872, and 1873 contracted
debts, greenback debts; we bought farms on long credit; we paid
high rates of interest; we borrowed greenbacks when it took
$125 in greenbacks to pay $100 in specie. When pay day came
you had juggled with the currency of the country. You took
25 per cent from the debtor and gave it to the creditor.
Mr. HEPBURN. You paid it in greenbacks, did you not?
Mr. MOSES. I did not hear the gentleman's question.
Mr. WILSON of Washington. I am nearer and will repeat
the remark. The question is whether you did not pay the indebtedness in greenbacks, because by Republican legislation adopted
in 1879 every greenback was worth 100 cents on the dollar.
Mr. MOSES (addressing Mr. WILSON of Washington). Now.
let me ask you a question. Did they not by legislation turn the
greenbacks into gold
Mr. WILSON of Washington. The gentleman will permit
Mr. MOSES. Please answer my question now. Did they not


turn the greenbacks into gold by the resumption act? Answer
" y e s " or " no."
Mr. WILSON of Washington. Well, I can not be catechised
in that manner. The gentleman, if he asks me a question, must
permit me to explain myself in my own way. In 1879 the Republican party, by its legislation, placed $100,000,000 in gold in
the Treasury of the United States to make the $346,000,000 of
greenbacks worth 100 cents on the dollar. That was all there
was of it. But since that time we have gone on increasing the
amount of Government notes from $346,000,000 to $830,000,000;
without having the $100,000,000 of gold that we originally started
with. That is the trouble.
Mr. MOSES. Every member of this House knows the truth
of my assertion that we have been going from a cheap dollar to
a high-priced dollar—an always appreciating dollar. No one
denies it; and you know that when you mak? the greenback debt
a gold debt you added 35 per cent to the debts of the people.
Mr. VAN VOORHIS ox Near York. In what year was that
Mr. MOSES. I refer to~the "credit-strengthening" act of
1869, the resumption act, the stoppage of free coinage of silver,
and the contraction of the currency.
Mr. HEPBURN. I wo aid like to ask the gentleman whether
the greenback is any better now than it ought to be.
Mr. MOSES. Let th3 greenback be redeemable in gold or
silver, and it is no better and no worse than it ought to be. The
trouble^ about our money is there is not enough of it. The silver
dollar is to-day sslling at a premium in New York. Yet you
would destroy it, and the gentleman who spoke last seemed impatient for the sacrifice. No doubt his conscience was like tnat
of Macbeth, who when another historic crime was contemplated,
If it were done when 'tis done, then 'twere well
It were done quickly.

But, let me say to you, that when this crime is consummated
by this "honest" party, joined by a minority, of the party that
•has always stood by the people, outraged and evenh mded justice will sooner or later commend the poisoned chalice to your
own lips.
But,"Mr. Speaker, I do not wish to be diverted. I was seeking
to show that for twenty years we have baen gradually raising the
standard of values to the injury of the debtor class. You said
you must have gold and silver. W e yielded. We borrowed
your silver and when we return it in paymsnt you are not satisfied, but you cry in your greed, "Give us nothing but gold,"
making all debts gold debts and creating an enormous demand for gold which you know will cause an appreciated dollar.
This is a fight between the debtor and the creditor class. The
people are not asking you to debase the currency, but they appeal to you not to increase their burdens by making the dollar
still dearer.
For years the Democratic party has been voting for the free
coinage of silver, and we pledged our faith to insist upon it if
elected to power.
Mr. GROS VENOR. Will you allow me a question?


Mr. MOSES. Well, if it is on this line.
Mr. GROSVENOR. On that line exactly.
Mr. MOSES. Very well.
Mr. GROSVENOR. Did the gentleman from Georgia read a
letter that the President of the united St ites, prior to his inauguration, in February, 1885, addressed to Gen. A. J. WARNER, a
membor of this House, on the subject of silver?
Mr. MOSES. I did.
Mr. GROSVENOR. Did you read also the message of the
President, after his inauguration in 1885, recommending the repeal of the silver-purcnasing act—the coinage act?
Mr. MOSES. I did.
Mr. GROSVENOR. Did you vote for him for President last
Mr. MOSES. I did.
Mr. MONEY. Voted for him on the platform adopted Inst
Mr. MOSES. Certainly. I voted for him because he accepted
the Democratic nomination, nnd in his letter of acceptance ho
said ".both gold and silver can bo safely utilized upon equil terms
in the adjustment of our currency." The duty devolves upon us
to redeem our pledges to the people. Democrats from New York
wrote to Southern men, myself among the number, and urged us
to go into the disaffected regions of the South; and wo pledged
these people to give them free coinage, according to the promise
of the party for a hundred years, and especially tor the last year.
Mr. GROSVENOR. Who wrote those letters?
Mr. MOSES. The managers of the Democratic party campaign.
Mr. GROSVENOR. On this floor?
Mr. MOSES. W e carried the country upon the strength of
these promises. If you now repudiate the pledges upon which
•you received the indorsement of the people, then I charge that
you have received goods under false pretenses. [Laughter and
A MEMBER. Ydu ought to give them back.
Mr. MOSES. The Republicans can receive no encouragement
from that statement. You have been already condemned and
your doom is fixed. This question rises above all parties. It
involves the eternal principles of right—that no government has
the right to rob one citizen to enrich another.
Mr. GROSVENOR. Let me ask the gentleman
Mr. MOSES. And you are not in it, my friends. [Laughter.]
Mr. GROSVENOR. Suppose we are not in it
Mr. MOSES/ Indeed, I had almost forgotten you, until tho
gentleman from Ohio rose in his place here yesterday like the
Rip Van Winkle of a past era. [Laughter.] They do not yet
realize that they are dead. They remind me of the old negro's
terrapin down in Georgia. After cutting its head off the terrapin kept crawling around, and the old man remarked, " That fool
terrapin don't know he is dead yet. He keeps crawling' around/'
[Laughter and applause.] My friend from Ohio got up here after
a prolonged absence to tell us of benefits of high tariff. You and
your high tariff are dead, and still you do not know it. You are
crawling around so. [Laughter.]


Mr. Speaker, I have not despaired of the Democratic party because of apparent divisions here. W e have had divisit ns before.
We were divided upon the tariff. Our tariff reform men sures
were defeated by a minority of bur own party. W e h ive elected
others to fill their pkces, &nd we have come to Congress finally
with a large majority in favor of tariff reform—a united party.
I do not believe the Democratic Administration will begin its
career as the Republicans did. by striking down the money of
the people. We may differ as to the best method to attiin bimetallism, but I believe that the ultimate result will be the
redemption of our pledges to the people.
Mr. Speaker, the Democratic members from the South and the
West who are now denounced as advocates of dishonest money
devoted all their energies last year in fighting the men who were
advocating the unlimited issue of irredeemable paper currency.
W e opposed a party. They do not want gold or silver. They
would give us rag money and a 50-cent dollar. We contended
for the honest dollar, for the dollar of the fathers. Now, when
we come here we find men on the other extreme, contending for
a dollar worth 150 cents. [Laughter.] The Populists are opposed to both metals. They make no secret of the fact that they
desire a currency not redeemable in either metal. They will
vote for 16 to 1, and yet they do not want that law enacted.
They do not want silver, they do not want gold, and their idea
is to demonetize silver, because they know itwili eventually demonetize gold and will put the country upon what they call a
basis of "scientific currency."
I warn you, gold men of New York, that you are overreaching
yourselves. When you abandon the policy which the party has
always adhered to, and go for a sole gold standard, I warn you
that if we go down you will not ultimately succeed, but that the
rag-money crowd will control Congress. The people ere satisfied with the money we have. If you do not want unlimited fiat
money stand by the great conservative element of the party.
[Laughter on the'Republican side.] I will make another prediction. The Republican party has always stood by combines
and trusts and monopolies, and to-dav it stands by the goldstandard men; and if you were to take away the conservative
element represented by the bimetallists of the country and leave
the battle to these two parties—the one representing European
ideas and plutocracy, the other the socialistic, discontented
element of the country—the battle would be sharp and decisive,
and the Republic would go down in a drama of blood, just as the
Government of Prance went out in the last decade of the last
But, as my young friend frOm Nebraska [Mr. BRYAN] said,
" Thank God, Jefferson still lives," and the Democratic party,
that for a hundred years has been the guardian of the people's
interests and of constitutional liberty, will see to it that the people shall rule and the country be saved.
Mr. WILSON of Washington. Did I understand the gentleman to say that Jefferson still lives? If so, he must be a fine old
man. [Laughter.]
Mr. MOSES. W e know you thought both he and his principles were dead.

Mr. WILSON of Washington. I thought he was dead, but
m ly be he is like that terrapin of yours, still moving around.
Mr. MOSES. Mr. Speaker, I do not wish to have my time taken
up by frivolous questions not asked in good faith, bscause this
question is one of supreme importance to our people. It is no
time for jesting. W e are deb iting the question now whether
we can ever pay our debts with G-cent cotton and 30-cent wheat;
and God knows if you add to the debts by raising the value of
the dollar, we sea no hope for our people either in the South or
in the West.
Mr. Speaker, I d?sire to notice briefly the speech of the gentleman from New York [Mr. HENDRIX]. He repeats the solemn assertion that soma thing should be done, in order that the people
may be spared from the evils of an unstable and fluctuating currency. I agree with him. It has been fluctuating long enough.
Do not juggle with it ag un. We Democrats from the South join
with every lover of honest money in s tying that we wantast ible
and non U uctuating dollar or unit of value. We oppose monometallism simply because we know that when the whole world joins in
the scramble for gold, and all contracts have to be redeemed in
gold, there will be such a scramble and a dem md for it that, although we may still h we a nominal dollar, the debts of the paople
will be increased. You will double the amount of wheat, cotton,
and labor required to secure your dollar.
I am not willing to adjust for all time to come the business of
the country upon such a basis. A gold standard dollar means 5cent cotton and 30-cent \vheat. I am opposed to raising the ratio
from 1(5 to 20, though I may vote for it to save the country from
a sole gold st mdard.
Mr. Speaker, we were told by, the gentleman from New York
that it is "stark idiocy, mocksrv,*' and "infernal rot" for Democrats to come to a Democratic Congress and ask Democratic
members of the House to vote to carry out the Democratic platform.
Mr. Speaker, eight months ago, when the news flashed over
the country that the American people had intrusted full power
to* the Democratic party, there was joy and hallujahs of praise
throughout my section of the country. But now, when Congress
meets, throughout that selfsame section the people are asking
with bated breath whether it be true the representatives of
the people will fail to carry out the contract made with them.
They are accustomed to defeat. The Democratic party for
years, decade after decade, has gone down, but we never despaired. But never did we expect to be told by a Democrat upon
this floor that our platform of principles is " s t irk idiocy, mockery. and infernal rot."
Mr. Speaker, we may trifle with the people one time; we may
deceive them once; but I assure you that he who U not faithful
to his trust will hear from them in the future. W e of the South
have come here to redeem our pledges. I challenge our colleages from the North to state when we have ever failed to keep
faith with them. Though we may ba si mdered, though we may
need your missionaries, I challenge any man to s.iy that the
South has not always kept faith with its contracts. W e have

kept faith with you, and we come here to ask you to keep faith
us, and let us give to the people the legislation they demand at
our hands. But if this fell legislation must be consummated*
we will stand by our principles. The South will not repudiate
her promises.
"We'd rather be a mourner at the funeral of right,
Than a king In the carnival of might.

Mr. Speaker, fidelity to trust is the highest duty of a representative. Let the Democratic party do its duty according to
promise, and let us strike for a bold American policy, without
considering what England's wishes may be.
They are telling us now that the farmers can not sell cotton to
England if we do not have a gold standard, bacause the balances
must be paid in gold. We sold cotton to England for 20 to 30
cents a pound when we had nothing but greenbacks, and we can
sell cotton and wheat to the nations of the earth, and we can exchange our products for theirs. W e have always bought goods
in Europe with the money they paid for our products.
We should establish a standard for America, and not wait for
the monarchies of Europe to do it for us.
Mr. Speaker, they say that cheapness of transportation and
new improvements have made silver cheaper. Why do not the
same forces that make silver cheaper make gold cheap? It is
because silver is discriminated against. When compared with
the prices of the world's products and with the price p;dd today for human labor, silver is as precious as it was twenty years
ago. Gold has appreciated and, therefore, all other commodities
have become cheap. When silver goes up cotton and wheat go
up. In 1890, as soon as you passed the Sherman law, silver went
to $1.25 an ounce, and for two years we received 10£ and 11 cents
for our cotton. You may t9ll me that there is nothing in it,
when for twenty years the price of silver has represented the
cotton price.
But, Mr. Speaker, we have been told that the cause of the low
prices of farm products is due to overproduction. Three years
ago the farmers of the South and West, seeing that the whole
world were combining in different organizations, determined to
come together into an organization for self-protection. They
were then called " calamity howlers," and when they met in their
alliances the people of the cities would say, " You ought not to
go to these places, but go home and work, like the merchant,
three hundred and sixty-five days in the year, and make more to
Mr. Speaker, we did'make more. We made 9,000,000 bales of
cotton and a larger crop of wheat, and still there was no relief.
They than came to us and said, " Y o u fools, you have made too
much." That is the logic. You first tell us, u You do not work
enough and do not make enough," and then say to us, 4 4 You have
made too much."
Mr. Speaker, it is not overproduction. Cotton and wheat will
bear world-wide transportation, and there never will be too
much of either food or clothing so long as the great majority of
earth's inhabitants have not sufficient clothing or food to stave
off the pangs of hunger. If overproduction is the evil, then we
should pray a merciful God to withhold the ram in its season,

and send us the blighting, withering, drought to check overprotion. No, no; the God of the harvest is not the author of our
Mr. WILSON of Washington. May I ask the gentleman a
question right here, seriously?
Mr. MOSES. On this question of overproduction?
Mr. WILSON of Washington. I want to ask him a question
now, seriously. I come from a Western constituency. I live
right in the midst of the silver-producing region. I am interested in the production of silver, and I would like to see it rise
in price. Now, I want to ask the gentleman, who says that he is
speaking as an American, on behalf of the American people,
whether he would be willing to vote for this kind of a me:;sure:
First, call in all the one and two dollar notes and let silver go
out in their place: second, coin the American product upon such
a ratio as may be agreed upon; third, put a high protective In riff
upon all imported silver. Would the gentleman be willing to
vote for a measure like that?
Mr. MOSES. I would not shut out silver. Like Alexander
Stephens, of Georgia, " I would let it come from all the world until wo had one thousind millions." For a thousand years men
have agreed that in exchanging commodities it would-be best to
have some medium of exchange. We must have something vsa
gauge or measure or standard to go by. In this country our
fathers thought it was unwise to take one commodity as that
standard; that it wrs unwise to make gold alone the standard.
Under true bimetallism gold and silver act together, like the
compensating pendulum of a clock, and the average can neither
rise nor fall.
Mr. WILSON of Washington. Did not Thomas Jefferson suspend the coinage of silver?
Mr. MOSES. As I have said. our fathers thought it unwise
to take one metal as the standard, because one metal was more
liable to fluctuate in value thnn the average of two. They
thought it wiser to take two of the precious metals and establish
a parity between them, so that when there was a scarcity of one
there might be a supply of the other. Now, I think it is unwise
for us to repudiate the system which has existed for a thousand
years, and for more than a hundred years in our own country.
Men talk about putting a price upon silver; how can you put a
price upona thing which it self sets prices? To talk about putting
a price upon silver under free coinage is to talk about measuring
a measure, about measuring a yardstick. Now, I say it is our
duty to our people to keep the standard "of value uniform in our
country, and I believe that if the American Government will say
to the world that we propose to have free coinage of silver, silver will be upon a parity with gold at its coinage value the world
My friend from New York [Mr. HENDRIX] quoted Mr. Cernuschi, the great French financier, as a high authority to prove
that free coinage by the United States alone is impracticable. I
will introduce his own witness. Mr. Cernuschi said:
France maintained for a pentury the ratio of 15J to 1 In every part of the
world. A monetary system based on two metals is more safe tbanit is when
based on only a single metal. England has suffered many crises simply be
cause she had only one metal in circulation.



He then goes on to say, Mr. Speaker:
It is the monometallists who are the authors of the depreciation which
they point to as a proof of the unworthiness of the metal they cry down. They
resemble the people who, having tied the legs of a horse, call out for him to
be killed because he does not gallop.

That is what Mr. Cernuschi says about the reason why silver
does not keep upon a parity with gold.
Mr. Speaker, I sse that my time is exhausted. I know that no
man's vote will be changed one way or the other by this debate.
Let us not inaugurate a Democratic Administration by repudiating our past record.
The people will see to this matter; and if you do not stand by
your pledges they will send men here who will. I appeal to my
colleagues to be faithful to the people; and then, with the Democratic party at the helm of state, we can go back and ask them
for a continuance of power, and we shall clos^ the last dectde of
this century with an era of prosperity greater than we have ever
seen before, and we shall show to the struggling peoples of the
world that we realize that we stand as the culm in ition of the
hopes of past ages and will not be x*ecreant to the trust committed to our care. [Applause.]