The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-09-20
Carl ScIurzial Bellnire Hester'
klaY.

her 93I.
Carl Sclurz fat Bellnire Hestcr.
day.
Mr. Schurz addressed meeting OF
,b,n, 1900 to 1900 persons at BeIIaire
v.,,erdav afternoon. lie spoke for neaFly
three hours and held the interested al
,eO,ion Of his audience to The close.
He devoted himself almost exclus.
iyely to the finances, II subject OF
which he is a master as compared
with nine.tenths Of the public men OF the
country. His national reputation rests
securely on his financial speeches in the
United States scuate since the panic. He
Wa, far more than match for the ablest
members Of that body who measured
swords with him on that issue. OF
course his arguments in the Senate
we're more technical than those he
uses before n popular audience. And
vet Mr.. Schurz is such an elementary
man under all circumstances that he is
easily understood in all that he says on
thi, generally supposed ab'truse qnes'
tOn His first effort is to strip the tinan-
rial situation OF the country OF all the
nySticism that demagogues and quacks
have thrown around il. He states the
case so plainly that no one can misun-
derstand his meaning. In a few words
lie depicts the facts with which we
are all familiar, viz: business depressed
and many people out Of work. He asks
why this is the Gaze? His answer il, ~
because the country has over.produced
itself, and (!) because too much OF our
means has gone into uncalIed for, specu-
lative, and nonpaying investments. We
have no market for our oyer.prodnction.
Wecannot sell and pay our debts. We
borrowed money to build great railroads
in advance Of the needs OF the country.
We enlarged our factories; we built fine
houses; we bought corner lots; we spread
Ourselves out in an infinite number OF
ways, and supposed We were prosperous.
In an unlocked for hour the collapse
CaulC, and all Of sudden our imaginary
wealth shrunk away, almost out OF sight.
Some people are foolish enough TO
suppose that the Republican party was
responsible for this collapse. The aim
Of the Democrats in this canvass is to
make such an impression on the public
mind The generally received argu-
ment is that owing to the contraction
policy Of the Republican party the panic
had come upon us. Nothing could be
further from the truth. Mr.. Schurz read
the official statistics to show that in 1873,
the year Of the panic, the volume OF cur
reuCy was larger than at any time for
years previous. He read over the figures
for each year OF seven previous years,
showing that the panic came upon us in
spite Of actual imitation. He alluded TO
the iIct that he was in Europe in the
summer Of 1878 when the panic that pre-
Cnled ours broke out in Austria and
spread over so many European States,
ial caused such heavy failures In Eng.
land. Who was responsible for that col.
hPe'Not the Republican party certain
H. No, 1t came just as panics ever
have come, from oyer-trading, over.cred-
ling, over-speculating, and from final
collapse Of imaginary wealth. We had
great panics in this country before the
days Of the Republican party-notably
those Of 1887 and 1857. No doubt We
'AAllhave them in the future when the
memories Of this present time are forgot.
ten.
But what Of the remedy for our present
IIIsT How il business to be revived and
theconntry made prosperous? This is the
allan important question Of tho present
campaign. The speaker had no patent
remedy to propose. He was not one OF
tao's who thought the government print
.ng presses could afford financial relief.
last year the Democrats OF Ohio were
Sano'lng for more money. That was
'aelFCF in the canvass Of 1875. Now
'ney we're running a hard money man for
resident. They had been beaten on their
former platform, and the country had es.
IaPFd a great disaster by virtue of their
as'e'', lie believed twas all important
.oM they should stay beaten. The
'n''Ncetity Of their position on finances
was shown by The fact that they had nom.
mated hard money man for President
'Np sos' money man for Vice President,
la'ne'F national platform they had ar
;NSUed the Republican party for not hav-
Ivy brought about specie payment and
'e' demanded repeal Of the resumption
"'' tilden and Hendricks were cloSct.
~ 'oSe'Ses at atsaratOga day after day try.
%s , 10 reconcile their contradictory posi-
%oa'0n ,4 the money question. And when
we curtain W" finally drawn back there
VA VA Tilden greatly sOtlenetl and Hend.
n,. ,s.' greatly hardened. They had inOc-
'',I'l A. each other for campaign purposes.
Az VT, Tilden is hard money man-Of
VA. %'' '1efeis no doubt. Now suppose him
"SSd' , Congress would bc against hard
"a money otthis there can be no doubt in
sa' event of Democratic success in ,his
I1aapAisn. The situation then would
.a% 1py be that Tildsg would veto any
VII money nsasurc, and vet would be
FVSe'Ie'' to put through any hard money
'"S'' And thus We should have four