The New York herald., 1872-09-22
Mr.. Greeley's Views About Rings and
Specie Payments.
General Amnesty and Reconciliation the True
Policy for All Good Americans.
ARRIVAL IN LOUISVILLE.

hOnors. AS soon as breakfast was over he took q
station in the large paror OF the hotel and received
the citizens one by one until ten O'Clock Among
the prominent citizens who paid him their respects
were the Louisville committee, consisting OF Mayor
Baxter, Henry Watterson, John 7. Moore, Philip
Speed and Phil. German and number of others
presented themselves to him formally and made all
arrangements for his trip OF to-day. Hon. william
A. Groesbeck, Wash. Mclean, Larz Anderson,
Elliot II. Pendleton M. D. Hanover and A. ID. Bull
lock.
CROWDS OF TEoPLE.
The stream Of people going into and out o. the
room was continuous for over two hours. In the
very room next to Honest Horace were General
John A. Logan and General Hawley, hold
ing sort OF opposition reception to
pass away the time until Ben Butler
should arrive. Logan looked very ill-humored
and said to HERALD correspondent, in speaking
of the Greeley reception, "Ah, yesl people will
turn out to see Greeley but 1t don't mean any
thing"
At noon Mr.. Greeley was conducted by Mayor Da
Wis, Mr.. S. +. Covington and Mr.. O. A. Rowland to
the Chamber OF Commerce building, on Fourth
street, where to the assembled members, to the
number OF about three hundred, he delivered the
following financial speech
GREELEY'S FINANCIAL SPEECH.
Mr. PRESIDENT AND GENTLEMEN OF THE CHAMBER
OF COMMERCE-You will do me the justice to believe
that would not have chosen to appear before you
as an instructor, for so it will seem to you with
regard to matters which you must understand
better, perhaps, than l. am here because l am
asked to be here and being here propose to make
to you few suggestions, which trust win have
practical bearing fully comprehend that you are
business men and that this is business hour,
and that whatever Is said by me, at any
rate, must BIZ very brief To plunge at once, then,
into the middle Of the subject I am one OF those
who do not feel entirely satisfied with the
financial and commercial condition and prospects
of country. I.reaize that we have just secured
very abundant harvests, and that these are very
important elements Of our commercial prosperity.
l realize that we have currency quite abundant
In its volume and acceptable at par over the larger
portion of our country. We have many elements
of strength and yet there seems to be also ee-
ments or portents of weakness which ought not to
be passed over in silence. You will bear me wit
ness that for the last two or three years we have
heard more felt more, suffered more OF
commercial COLLAPSED might say commercial diff
culty-from the operations Of what are popularity
called ''rings," than ever before In the history of
this, and think in the history Of any country
corners In meat. in oats, corners In pork
great aughter)-cOrners In gold, corners In stock,
and so on and so on. Now, gentlemen, am not
here to say that this particular clique, which tried
to force up prices, or that opposite clique, which
tried to force them down. was right or wrong in
any instance i am not sufficiently familiar
to Judge. What I say and think, you must
believe with me, is that these exhibitions, these
ebulitlons are symptoms OF q financial weakness,
II not o financial disease. They are incidents
which are not likely to occur in perfectly sound
and healthy condition of the commercial business
and the currency of the country. Well, we
get on with them as well as we can, or,
rather, we chase one away and another
soon presents itself, and every now and then,
IN the great commercial centre, where my work
has been carried on, there comes o superior
corner, kind Of a "Black Friday" or some
thing that threatens commercial disaster; gen.
eral disaster; and then appears the Secretary of
the Treasury with his horn OF plenty and he let's
loose something or other; he either buys stocks or
he sells gold, or ne does both, and he puts us at
ease for little time again. Now, am not here to
decide that that is not the best he can do don't
of the country ought not to be in condition to
require this continual application OF something
artificial, something let down from above; that
ness men and business interests should
take care OF themselves, and not require
authority snt HyN in such dictatoriai form form.
Some men are swamped when he appears; other
greatest number Is accomplished for aught know:
but want to see state OF things where the gov
ernment is not continually called upon to help us
out. it reminds me Of the state Of things that ex-
listed in my earlier days when every once in while
Mr.. Nicholas Bidde was called to Wall street in
treasury is now, to put his shoulder to the
wheel and lit us out OF some catastrophe;
phe l think we ought to be able-that you gen.
tlemen, ought to be able-to devise the ways and
means not only OF getting us out Of one particular
corner, but OF preventing corners In the future;
rendering them impossible; or at all events dis
astrous to Their cOntrivers Now, am supposed
of hobbies. on this subject some men imagine
that / am very furious demander OF
the immediate resumption OF specie payments.
son to change It. that when we had one hundred
| and twenty-five millions OF money In the Treasury,
| mainly gold, and when we had q revenue exceed
ing the necessary outays of the Treasury by more
| than one hundred millions per annum that we were
& no hsS csosen pefe 10 viii
ceive them as gold, that there would have been
Under I'm p''"IH that state " Of arairs % I have seen
| the Bank OF England reissue; have known banks
| OF our country to resume with very much smaller
proporton OF available assets to their liabilities
than the treasury OF the United states had at that
| time so that 1t seemed to me to be perfectly fea-
| sble thing But we did not resume, mainly because
| the pcople-I mean the business peope-dld not
want to resume, and that, in my Judgment
as wei we'll % next year, two years, i've
years hence as 1t operated then.
| II Is Judgment that we are not likely TO re-
| sume | don't know when, but in any near period
| of time. Then, say, Ii we want to resume we
need all the revenues we had then, and we ought to
| nave husbanded them carefully; but II we were
| not as you and ] know we were not. to re-
sumo for long time to come, then 1t seems to me
| n business policy was required OF the government
that is to pay out all its gold, all its treasure, be-
yond fair working balance, reduce the debt by
SO much, stop the interest and leave the gold and
currency In the hands OF the business men, instead
| of boarding It up In the Treasury to make
one o. these perodlcal-(she conclusion OF the SEN
tence was drowned by the applause)-but am not
a dogmatlst. do not pretend to present this as a
matiired and settled conclusion. What do here
ask-what ask oil this Chamber to originates
nm inauIry and investigation by men OF business
and captal where the proper remedy for these dis
orders OF which speak IL to be found. Let us be
cain about It, Let us take time; let us Investigate
slowly carefully, and let the business men oi the
country come to the conclusion as TO the
proper remedy not for particular disorder
Today but something which shall be a protection
L.. ...Ii. Ii