The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1875-10-07
Mr.. schurz's Great epeech.

From the Lawrence Journal we take
the following comments upon and ex-
tracts from the speech of Hon. Carl
Schurz, made at Cincinnati last week
He dwclt principally upon the finan,
cial question of the day and his speech
is one of the most able, fair and con.
yincing arguments that has yet been
presented upon that perplexing ques-
ton.
"One point" says the Journa
(which he dwells upon at length, and
turns against the Democrats with tire.
mendous force, is that the project Of
making the currency equal to the de.
mand of business in any other way
than by the automatic influence of the
constant redeemability of paper into
coin, involves the most dangerous
Capitalization of power in the General
Government that has ever been pro-
prosed by any party in this country.
If the currency is to 'be made and kept
equal to the demands of business'-the
General OBSERVATION-DISCLOSURES and
the President, must Go it. This puts
the whole business of the country con-
stantly at the mercy of political inllu-
encc in Congress. If the Government
is to determine the amount ofcurrency
in circulation, this is equivalent to Civ
ing the Government power over every
mans private business" Mr.. Schurz
saws:
This, then, is the awful power of
government intrustcd with the office
of making and keeping the volume of
currency equal to the wants of trade
Iou may ask me: Cannot the Con-
gress of the United States be depended
upon to exercise such a power with
wisdom and discretion? The Lord
preserve us The wisest assembly of
financiers in the world would be I'M
able to discover any other means to
make and keep the volume of currency
equal to the wants OF trade than by a
return to specie basis, where trade
and currency may adjust themselves.
But Congress! Give us the most
honest and intelligent Congress we
can ever expect to be blessed with,
and the adaptation of the volume of an
irredeemable paper currency to the
ever-changing wants of trade by an
nual legislation will be found an utter
impossibility. But now imagine a
Congress controlled BY statesmen like
(,pv A Hon yybn tb;nl- that ,,,o,o on1
more currency must be issued until
the money of the country stays out of
the banks; or imagine Congress
manipulated by ring of unscrupu-
lous and adroit financial sharpers. and
such Congress welding the tremend-
Gus power of changing at pleasure the
current value of every dollar and every
dollars worth of property you haye.
does not your head swim at the pros
pect! And yet that is the power
welded by any government, intelligent
or idiotic, honest or rascally, which is
with the Office of making and
keeping the volume of irredeemable
paper money equal to the wants of
trade"
Zone other point which Mr.. Schurz
Celebrates with great force is the effect
Of imitation upon the laboring and pro-
ducing classes. There has been moth |
ing upon this aspect of the question so
plain, clear and convincing as the |
words of Mr.. Schurz. He demon
'trates, beyond the power of refuta-
ion, that no greater disaster could |
occnr to the producing classes than
he Inauguration of an era of imitation.
No class is mere interested in honest |
money than those who labor for wages.
fhe peoples money as Mr.. Schurz
clearly demonstrates, is coin or that |
which can at will be converted into
,oin.
'Mr. Schnrz has made a most valu-
iblo contribution to the current dis
'ussion of what will inevitably form
he great issue of national politics.
lis arguments will have wider reach
han the audiences he is addressing in
ohio. They will tone up public sem
lment all over the country, and draw
tiH more distinctly the lines of sepa-
alton between the friends and enemies
If public honesty, sound business and
ound monty.