Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-10-14
GEy. SCHURZ on H.4RD .UONET.


a desire to embarrass me-Caughter)-ha pro-
pounded these questions. an very much obliged
to him for the opportunity which ne affords me
(Cheers.) He asks, Is it feasible to bring about
the resumption OF specie payment by force of le-
gal enactment merely If not then In what
other way can it be effected My answer is,
whether resumption can be enforced by legal en-
actment depends, as Colonel Meyer very well
knows, upon what the legal enactment is. As to
| another way-yes, there is another way and that
is the way are advised to take by infiatonlsts
themselves II is to run up the imitation OF the
currency until the bubble bursts and general pros
traton and ruin follow, and then when the ex-
poded currency is swept out of the way by the
corvulsion to gather up what little gold and sill
yer can find, and with that little to begin
anew, cursng the inhationists for their schemes,
and cursing ourselves for listening to their adj
vice. tGreat applause)
Third Question While You were in the Senate
of the United States did you sustain by your vote
the act Of Congress passed to enforce the resump-
| ton of specie payment early as the year
| 1872
! Answer-I do not know that my vote in Con-
gress is IN issue in this campaign. did vote for
the specie resumption act, | am glad TO say.
| tCheers.)
Fourh-Do You approve Of that measure now
Answer--I voted for it for ole reason, viz:
| That it committed one OF the great political par
ties to resumption of specie payments (Cheers)
! The bill did not quite satisfy me- First-Becau3e
it put resumption off too long. l would have it
earlier Second-I thought it did not contain the
necessary machinery to carry it out.
! Fifth-If carried out, will not the effect OF that
measure be to protract for long time the tnan-
cial crisis under which the country is unfortunate
| ~ suffering, and to involve the country in still
greater financial difficulties
| My answer is that the effect will be Produced by
continuing the present state OF uncertainty. The
crisis Of 1873 was brought about by over-produc-
- and ,lntn linn
railroads from nowhere to nowhere-and other en-
terprises in which capital was sunk without re-
| turn, and extravaganza and wastefulness among
all classes. Cries of That's SOL Similar
sus were brought about by smilar causes in
Austria in Germany and in England What was
our experience in this country after the crsi; OF
1887; The issues of the rotten banks were swept
away, and the business only returned when they
had sound dollar again. Nothing but specie
policy by the Government will bring the present
trouble and uncertainty to an end. AT present the
banks Of the country are full of money lying idle
for want of confidence, and confidence will not re-
turn as long as not man knows what crazy
tics the currency may play with our fortunes, if
the " lid schemers who are preaching imitation now
| should get possess ion Of the Government There
can be no confidence until that which a dollar
to-day will be good dollar tomorrow. (Checrs.)
| Sixth Question-Where is the specie TO come
from to take the place OF the present paper curren
cy:
I Answer-Just as wheat comes when people are
hungry and want bread. Gold and silver, like
neTcuahuse, wiz nU' ~ WHY IL - no' mah'eu.
~ ii"su - M w, P - . o!
sno . io3oi.s w a' tt NY "o vi" "a u
would be carried off to some country where they
would be worn; and if six months hence the peo-
PIC snouI i. ~ W wa. snHe' st, 10y 10y
"uuiu' ha.a ~ NV smna, .,a Jn, nr Goii MI,
come here, other merchandise, when it is
wanted, just as wheat would if there were scar
city mere anu apuhuanTe aoloau.
seventh Question-is ~ MOI iact 'hat whist
.ne increase ,h or uae popoa,ion AM p.Gp
erty OF tne country REQUIRES cor!esP 9nuIhs III
crease Vi ,ue 'oiuiiie Vi ino'i'S ~ 'iN""''op;
.neie - al w. n ..ino ioss q.ant, VI so'u
anu SILVER ~ 'ne COUNTY ~ supply 'ne e1i''io'i
han .lene mas Dee at any '''Ne e'"'e ''e ''0se Vi
| 'ne ia'e ""i 49,, al, 49,,
mp 'ge Wiz VI - 'i. wa 'io'
cohsiueI wan q Io1r.esa Gay ne Is al ri
gerheaus WIN 'le :, ID % I''i'oe - At
IS wen ~" iaet tnat ~ >i?"uine ~
crease u cu',en.y - required WIN 'ne neiease u
popuia.loiis business anu PioPeiS. -noneS -
hcasuie Vi 'a,oe ~" ~ Vi w an-e' ..u ou
might as wen "a! .ha' because ~ ineasulS zen
YARDS OF eiolh REQUIRES !aro-sucA' 10 measure
twenty saIus 81 elo'n fsHntes Two saru. IS
Laughter auo 'uee,'') NIne -'nlet pei 9eh'' VI
Tue exchanges q the COUNTY, are es'icu On ny
the mere transler Oh nank accounts, aha only per
cent ny ''c heie ,iahsiei Vi currency from n'na
10 manu- Iorneily mhen ouiiuihe was pun up
~ was nseessait " na'o many ""nus " e'!'
| up Drick ana mortar. Iut up steam engine
mere 10 40 lne same woih, auu 'ne writer Vi .nl'
ietteT might perhaps say una. we sun want more
nanus-tsr eat Gneei sun II Is "e stahu
ing theory Oh lhe ihnaohists tna' the increase OF
currency must correspond WIN me increase OF
population ana properly. AS TO inc queshon
whe'her thefe Is not Tess qoahtty OF goa ana
siver "a lhe country 10 suppy .he M On man
| hetetoiore,Ioi course mere IS anu VIII DC less
ana less, the longer 'hat hnanclal question CON
tnues whicn degrNes goiu ana slNef OF employ
iheh'' ana IL ihhatiohs's eet coh'ioi Oh ing "oN-
| efnhen, 'hey hlght succeed III uiNlhg Inc last
soiq ooiiar gu, VI 'he COUNTY loh.e's)
Nlhth 'tuestioh-!Hus' lhe present Vo!u'he OF
currency n o oe REDUCED, ass inning IL 10 be aoont
SOU ooo'ooo' ana II So now huch' 10 fehoef INC
resumption OF sPecie pay henis praclicipie:
| Answer suppose ms Is me point whlcn me
writer mas been manly driving AZ. lwlil tel h'm
canuluiy 'ha' N my op'nioh spgc'e pay hthts can
| not be resumed ana maintained as long as inc
volume oil the currency exceeds mat when would
circulate as g9ld anu paper converiole INTO gold