The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1877-09-13
Killed His Sweetheart and PrOba.
bly, Himself.
BANKERS CONVENTION,
Speech Of hon. w. ). GrOeSbeck on
the Silver Question.


the Silver Question.
National Associated Press to the Star.
NEW YORK, Sept. 13.-At the Bankers
Convention to-lay resolutions were
offered pledging Itself and the Gov
ernment in resumng specie pay
ments; that 1t was not advisable to
put forth any plan for resumption;
that committee be appointed to confer
with the Secretary of the Treasury to
bring about resumption in 1870 and
that the tax levied OH the banks should
De repealed.
Tue resolutions were referred.
NEW YORK, Sept. 3.-rhe feature OF
the Bankers Convention to-day was the
speech against the demonetizltion OF
silver by Hon. W. s. Groesbeck, of Gin
cinnatI.
Mr.. Groesbeck said the people OF the
United States have taken up the ques-
ton OF Money to give it a careful con-
sideration. From the beginning of the
Government to 1874 gold and silver were
equally unlimited legal tenler for the
payment OF all debts, national and indi-
| vidual, public and private. In 1874 sill
YER was demonetized and gold alone
| was put into the place previously CO.
cupied by the two metals.
| The speaker then went on to argue in
favor Of the two metals instead OF one,
and held that there was much in the
| try which should be considered In de-
Gliding the question. The greenbaok is
| nothing new, there have been ancient and
modern greenb lcks. The greenback OF
our war was desperate anu tempo
rary expedlent, and Its only allowable
ljusttica ation Is, that it was resorted TO
| in qrtiCulO mOrtiS and to save our ma
| li0ual lie. Alter powerful and eX-
haustive argument in favor of the
metallic currency AMI Of two metals in
stead OF one, MIR. GrOesbeck concluded
| as follows:
''Allow me to say in conclusion gold
and silver only should be our gal ten
der money. They have endured a trial
of thousands Of years; all other forms OF
legal tender have failed. Promises,
which no fulltillment Is provided, are a
fiction and sure to end in wrong. Law
can do mucA, but it can not make slip
of paper costing penny reliable aud
just payment lor day Of toll or a
bushel Of wheat. Gold and silver are
| realities, as wheat aud corn are reali-
| ties, and a dollar In coin is only tue
equivalent OF its cost OF production and
| d reasonable profit to the miner, Just as
fair price for busnel OF wheat Is
but the equivalent OF its cost of produc-
| tion and reasonable profit to the
| farmer. Wheat would m Ike an honest
| legal tender, if itwere suitable; gold and
silver make just as honest legal tender,
and they are suitable. There is no sham
| or deceit about them, and they never 20
into bankruptcy. Let US rest on them.
and keep both as equally important. II
is not wise 10 narrow our legal tender,
nor should We arrange In the interest OF
that small part OF capital which has
ceased to labor and ls at rest in the form
of fixed and permanent Investments.
Let US be as impartial as we can, and
when we must discriminate, let our dis
crimin alton be In favor OF labor and that
much larger mass OF capital which is
active in building our towns and cities,
IN farming, manufacturing, banking,
railroading, trading and the many
other pursuits which take the chances
Of loss as well as profit, and share
the common lot. For all these interests
let US have good money and abundance
OF 1t; the more the better, If 1t be safe.
lleTe mas never Deeu tUO muCQ ROIu ana
silver in the pas; there Will never be
| TOO much in the future. There are
larger mines than those of Nevada, Cal.
llornia and Australia; miues Of ill.,
ven ion, mines OF discovery, mines OF
enterprise, mlues where the Lireiess in
telleGt works, whose depths are uufath-
omable, whose capacities are inexnaust-
iDie, and whose demands shall forever
subordinate and utilize the utm )st
production Ct gold and liver. There is
an aspect OF this subject which has
presented Itself TO me, again and ag in.
We are told we must abandon SILVER
because Germany has done it. L.
does not show that his was wise
in Germany. No OAe has vet
expressed such an opinion. But
wise or foolish, she has seen Ii to do it,
and therefore we must. l don'L like
this. IL has the appearance OF timidity :,
and there Is lack Of courage AMI inde
pendence about it. l can Understand
now a small nation lying In the shadow
OF that great empire and in territorial
cnntact with it, may unavoiuabiy be in
tluenced by its policy. But we are un-
der no such embarras ssmeut, aud we are
sLr0ng enough and should be brave
enough to stand upon cur own policy.
Is it so, that we must, now AMI always
hereafter, change our system OF money,
regardless OF our condition and advan-
ages Whenever Germany or England
nees fiL to change! Are they t0 d0minate-
usi Shall we BIZ ever looking uerfvusly