, 1876-09-12
TINT there remained no tinconrcrted ones among
hts audience. The speed, lasted about ons
hnur and half. The following Is brief
hHS1

abstract:
In startling out, Mr.. s:hurz explained that, 10
under physical disability TO speak, 70 That be
should bo compelled to sit. und he wished the
andence to maintain or much quiet T. - possible
lie *ait he hzt expected that Ian ". !oorhees
would Join him, but he had learned, that that
gentleman wns a1so Ill. lie would therefore
aEs Il sadipe:.ne dpssx ef1s IL audience Nj schurz said
he did not come before them merely to chant
10 !al't plain, hard senss. tApp!ausc.] lie
DISCUSS rms FINANCIAL. QUESTION,
first on Ia inertia, anil IN the second plaee, II
q the two parties IN reference to thc question:
The business of tho country. was IN state
Of Etagnatton. At Vas 10 be expected, the
qa:ai flnanctcrs bad taken hold o& Tho matter.
needed 6 flrst WI u know tl,c truth. It had
icrn said lhat contraction was 1ile c.lusc Of Tie
collapse Of tSff}, and the present eIHharrass..
lncnss. The facts Troyed :l'tlcreut fsate Of
hare caused collapse in 1s7a 1t might As well
Wien ~ ayeiJcnt did not happen tllT to-lay.
i had also teen sala thai the eollapse was
The, truth was that The cause q tile erisis orSi.
nattt1 In Austria as much As here, and no ono
noull uecuse the Republican purity Of being re-
tpouahle TOR that. The eallsc of th: co!lupse
"HH 0fE!F0uHtLlDH HlkH0Ht Any HlAFhC}h 4US
thc kaie ol manufactures, Dad financial manage
inent In running railroads to the great nowhere,
and other like causes. Tic truth was
that auanrla1 criscs wcrc.rcriodlcnl. Now, the
tllat tlc Gozcrnnacn, should Issue more green
l,arkt. Mr. Behmrz explained the nature u the
grecnbacks aud lhc purposes they were Intended
10 sesye, !.,ist. atiHg tha matter by telling big
uotes, Iilss grceabacks, they would not hare H.
crcaaeti the wealth Of tlss iuw,I one iuta. Tie
| grcent'aek lad its value merely as means ct
exchange iu this country Woul1 llIs increase
tIoa looked plausible, but what, were the 1ac't'
| Tic banks were actually groanlng with money,
lying Isslc. There was either want Of borrow
crs, or they did not otTer tucll security IS the
vas not business enough To employ all this cap
| ital, ana tue reason for th!s Was the
lack of eon1ls1ence In The country, The
capitalist .wo,tid. be glad to lend Ills
trouble was t>'at capitalists would no. md such
security as they dcsIrcd. Capital WIS naturally
tia,ld. Tie question was, how was that conf
DUNE TO be restorea' Tie only way was to
| REMOVE THE CAUSES or DfsTRuST. !,
The priucipa cause Of dlstnsss was tho uncer-
taintf about paper money not convertible, with
coin. When man dill not know whether Il
dollar would te worth dollar in day. or week,
that dollar. a. often a: Congress got together
tho country was In state nf tsepfdafun lest tile
representatives. Of the wisdom Of the people
rotl1d tlo bone mischief With the currency.
Il, COO ii rreenbacKs, the value Of the
ddccrsafe III proportion. II the amount
Of grecllbacks should be reduced, without there
ssE %o 1e. % Z, (, ie ens e Es sd $9as aon ssay
posed to sl.cA chances, existed, there would DC
tllis condition OF uncertainty a1d consequently,
Of staen4sIun. The uncertainty, could be r..
moved by tic substitution Of good, honest
money, not exposed to the whms 81 legislation
Or the follIcs of the average Congressman
iii. Schtra then referred to tho unsafe, ILL.,
1s57, and the tuwecding crisis. The result was
that tho currency disappeared rs II became
wosttlcss,' and what wa1 lclt in The. peoples
pockets was good, honest money. Prosperity
swept out oi. existence. 1n 1871 there was no
contraction. Moro currency was IN circulation
tllan there had heen fur years before. It was
even augmented by the Issue uf 81, ,0co, ;.
he 1ont, of Il ker s15fes Y5f e.ts ap ltaa
Hartford, .at,d Prosidence.. Though there was
ITO contraction, things had bcen growing wusse
and worse, and tho conclusion Inevitably forced
revival oi business until this uncertainty was
aiost ot the Inventions Of the quacks were
really old. They Ind been tried and exploded,
1uefc HA3 onEt Ho*6FG53
THE s.C5 yoND SCHEME,
which had the merit OF novelty, and Which the
speaker dcnomtnatcd one Of the most absurd
and dangerous Of all that had been invented.
According to this scheme, tie money ADVANCED
l,unds laY Idle, who. the Interest was paid BY
could put bis lnoIlry in thu hands ot Tho
ULitcd States. whci 1t would otherwise
Eay tIo Interest, Why would not farmers
nut tlctr cor, and oats Into a Gorernnsen.
Treasury and have this Interest paidl lap
plausc. The rule that was gool enough 70,
enough for The harl~lisled farmer also. ZAP
plallsc.1 Thu money which WIS put into ttls
Treasury asd lay ancmploycd was the san.t
money which would have been put into tllt
banks and used in discounts. anl commercial
transactions, According to this scheme, how
ever, banks would be out Of funds, and tho
money would be lying In the Treasury, wlflt
tho moncy-bags drew Interest on It. The result
| would be the most fearful contraction isnagina
!, bic, aud greater EMBARRASSMENT dlstrrst, ant
ata.,natto1l. Yet this was the great sarsupa
rilla, the Ccntaur Lintn,cnt, Q! Tue <ott.tnot'e}
tlnctors, that vas to cure all the financial l1k t
which the country was heir. Laughter. TIL
only way ont Of tho tltillculty WIS Tie rcsn,nt,
lion Of specie payments. {Applausc.l Thc1
money wo,lttl have liked value, and thc ous!tcs,
! nt thu country would be nut upon firm, metal
, Even such men Us Hendricks and Voorhees, nj
/ mttctl that resumption should and would com,
sumo tlnc, but, like the maj, with the ootllacc,
they llcsltated before deciding to havu It out
, [l.at,ghsc1.r Tls year the Democrats had
candidate for President Of The llar.l.moncy kind
n1l nlnn Tor Vtcc-t'res!dcBt Of the sott-.nohe,
[ kind. Ono was to ratcll vutcs III New iorli, am
, tlc other In lnl!Iana. The speaker dl not thinl
this sclcme would do either. i.aughter.l Yc
tt,s result Ind been tllit wherever there waa
. possibility Of clectins soft.noney man to Con
: kress hc was boosteu afong, an.l II Ito Demo
Gratis SHOULD win there would bs = n:
: yyal OF Ill. their intat!un plans. Boil
llArtl.lnoney mcn nn,l soft.nauucY mel
] would nnd themselves DECEIVED. Tulel
: at Heart was Il haEd'moucy man una would ret,
} any suft'nIoney measures Nor could the hard
, m1uey 1ncn rel any measures through. The III
/ sult would 10 continuous disagreement aud ur'
certainty, aud, therefore, c"ntinaed stasnat.s! y
, tion as Nh evil to the country, was thn cuntinu
ancc OF this ktntc of uncertainty.
ON THE OTHER aIDE,
what was to be expected Ut the Republican par
; tyi Whir he hali criticised and attacked ttia
: party I'M some occasfYns, and DID not cohG l.
sound Its praises, yet lid recognized the fact tin