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By 1894, however, he clearly leaned towards a Silver Party. At first, he considered the new Populist Party, which had backed the silver issue and had made a good initial showing in the 1892 election. It was the repeal of the Sherman Act that prompted Jones to make a decisive break with the Republican Party. Despite Jones' efforts, however, both houses of Congress supported President Grover Cleveland and voted to repeal the Sherman Act. The speech became the pre-eminent statement of the Silverites. In October of that year, he delivered a speech that continued, with interruptions, over an eight-day period, taking up over 100 pages in the Congressional Record. The move to repeal the Sherman Silver Purchase Act in 1893 prompted a Senate filibuster that thrust Jones into the political limelight. At the 1892 Republican Party convention in Minneapolis, Jones told delegates that the silver issue had reached "the proportions of a third party" in Nevada and could result in a "clean bolt on election day." (This predicted "bolt" would come with the 1896 convention instead.)
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Jones became closely associated with the silver issue in the late 1880s. (At the same time, he relinquished his chairmanship of the Mines and Mining Committee.) Although he was welcomed back into the party fold, Stewart was widely criticized in his home state for abandoning the young Silver Party. After returning to the party, Stewart was rewarded in 1901 with the chairmanship of the Indian Affairs Committee, a position of importance to him. His use of the word "restore" suggests he had been demoted although he maintained membership on committees. Among other things, they made me chairman of the Committee on Indian Affairs, one of the leading committees of the Senate. They restored to me positions on committees which were reserved for the dominant party. As Stewart commented in his memoirs:Īfter the silver question was eliminated from politics, having been a Republican from the organization of that party I returned to my natural allegiance, and entered upon the campaign with the Republican Party in 1900. Stewart's switch to the Silver party certainly caused tension within the Republican Party, and there is evidence to suggest that it had some impact on his committee status. No specific date has been found to mark his return to the party, but clearly the transfer was complete by the election of 1900. In 1900 he supported William McKinley for the presidency, and backed a Republican candidate for the House, further distancing himself from the Nevada Silver party. He rejoined the Republican caucus on December 4, 1899, at the beginning of the session. Stewart drifted back to his old political base within the Republican Party. Bryan's defeat in 1896, and then the discovery of large reserves of gold depoliticized the silver issue. Stewart's return to the Republican Party was gradual. According to Elmer Ellis (Henry Moore Teller: Defender of the West), after the 1896 election, "the Silver Republican senators were invited to join the caucus of the Republicans, but refused," implying that they had all left the caucus when they switched parties.
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Evidently, although this has been difficult to document, Stewart left the Republican caucus at that time. (The pro-silver "People's Party" was being formed simultaneously in Omaha, and Nevada established a Silver party in September 1892.) Stewart was re-elected to the Senate on a Silver party ticket for the term beginning in 1893. In response, various pro-silver factions met in Reno in June of 1892, resulting in the Silver League - not an official political party, but an entity often referred to as the Silver Party. The two major parties avoided close association with the silver issue at their 1892 conventions, and the Democrats nominated the pro-gold standard Grover Cleveland. When it became evident that Benjamin Harrison would be nominated his own successor in 1892, I severed my connection with the Republican Party and joined my fellow-citizens of Nevada in the organization of a silver party. As he noted in his memoirs:Īfter my experience with Harrison's Administration I found it would be impossible for me to further indorse the Republican Party without indorsing the crime of John Sherman in demonetizing silver. Predicting the Republicans would adopt a gold standard plank in its 1892 platform, Stewart refused to be a delegate to the Republican national convention that year. As a delegate to the Republican party's national convention in 1888, Stewart drafted the currency plank for the party's platform, which was later abandoned.
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The issue of remonetization of silver brought about party changes for several senators, including William Stewart of Nevada.