New-York daily tribune., 1857-10-17
SPEECH OF THE HON. NJ p. BANKS ON
FINANCIAL AFFAIRS.
lBy Telegraph

BosTos, Friday, Oct 16 1867.
The following is the speech of the Hon. n. r
BAsKs, the Republican candidate for Governor as ~
meeting at Fsneui ball last night. In conssqusses
Of the storm, the telegraph was unable TO uausss
until this morning.
Mr.. Banks commenced by saying that, when be -
gagged to speak in Faneuil Hail. he designed to spsak
on the subject Of the policy Of the State and nation,
and not on the great monetary crisis which had bsss
brought upon the country; the distress cssssd b
which it was impossible TO pass over in sils.es.
He compliments the Of the City Of Boston for the
courage and vgor with which they hsd met he storm
which had 50 suddenly broken upon them snd Tor tns
its evil effects. The sesoiress OF their position had
sustained the business character Of the CITY which wo
her chief honor. Recurring again to the saejeet M
Banks said that no one could possibly svad :
feeling Of ss sorow and distress on 'eS9sa, s2;.I.
bad occasioned. Fortunes that had eees
the result Of fifty years of close attention, sTsas
intelligence; ana unwearied industry and ffugshy,
had been dissipated in night and, in the vsshins
away OF the great commercial landmarks ths:e hsd
been a corresponding wreck Of other Interests. Every
one must feel sympathy for labor without employ
ment AID supports labor made houeless UNEXPECTEDLY,
with reason TO fear that In the coming Winter
would be bresdless. With all the suffering and loss
consequent on the crsis which Boston had e1pe-
rierced, there would be always means to supply ths
wants OF those suffering without faults of their owr
One view of the subject indica ted IL seemed Mr.
Banks that the general disability Of the period would
be bus temporary. The country was never richer
than to-day for the agricultural crops estimated
at value of two thousand millions Of dollsrs and tho
product OF manufacturing industry at about ffeen
hundred millions. With our means Of intercoprse
with other parts Of the world the enterprise Of our
merchants, the economy Cf our fsniies-m f.ct, the
economy Of ell person'-word infuse into the condi-
ton Of the country confder which would enable us
few months to scise from the fa we had
The spirit Of economy which might be impaired to
our national Life would enable US speed 20 recover
from disaster. There could be no Just compahsos be-
tween the condition now and what il was IL 1881. Ths
specustons Of that period were fruitless both 70
gsrcs agriculture and manufactures. Capital IN the
latter mentioned period was in city lots where's sov
IL invested in the Industrial interests of the
try There was in 1887 but 50 900 900 in specie in the
whole country with $l49 COO 900 Of circulation n bxAk
paper. Now, at least in 1856, according the state
ment Of the Secretary Of the Treasury there wss
tOO,l0O In specie. Probably there Was nov as mnca
az ey GOO 0O0 to SIG OC0 900 Of bank notes I crcsa-
ton In this State the banking interest ia ss'sf
condition at present than in 1881; and the conhdeses
OF the people in this particular was greater ana tae
feeling of hostility to the banks was far less ior
gard TO the cause of this crisis, different people hem
different views-according TO their pohties bearings
and here Mr.. Banks sadd that hls parpose
was 70 speak Of the policy, and sof ~
reprehension of parties Of mcn-andalso s''ofa,s
70 their conceptions os moBcssy aaairs :es cad