The New York herald., 1877-09-14

legal tender have failed Promises whether national
or individual for which Glhlment is provided ere
hcton aud sure to snd In wrong. Law can DO much,
put y cannot make slip OF paper costing penny
reliable and just pay ment Tor day OF toll a bushel
OF wheat Gold and silver are realities as wheat and
corn arc realities ana dollar coin is only the equiv
| to the miner, Just as fair price for bushel
| OF wheat Is but the equivalent OF It's cost Of
iarnier wheat would make honest legal tender II
II were susable gold and silver make just honest
legal tender and they are suitable. There is sham
deceit about them, and they never 20 into bank
ruptcy. Let us then rest on them and keep both
equally important IL is not wise to narrow legal
tender nor should we arrange 1t in the interest OF
that small part OF capital which ceased to labor
aud is at rest in tho form of fixed permanent in
vestmcnts Let Us be as impartial as we can, and
when must discriminate let our discrim be Ia
favor of labor and that much larger mass of capital
which Is active In building our towns and cities
ing manufacturing, banking, raroading, trading and
the many other pursuits which take the chances
of loss as well profit, and share tho common lot
For all these interests let US have good money and
abundance of Il; the moro the better, II 1t be safe.
There has been too much gold and silver In the
past: there will never DO too much in the future.
There are larger mines than those OF Nevada Calior
MIA and Auslralia-mines OF invention, mines OF dis
covery mines OF enterprise mines where tho treiess
intellect works. whose depths are unfathomaoe whose
capacities nexhaustiblc ana whose demands shall
forever subordinate and utilize tho utmost production
OF gold and silver
scntcd itself to me again and again We are told we
must abandon silver because Germany has done It IL
Is not shown that this was wise In Germany NO one
has yet expressed such an opinion. But wisc OF
foolish sho has seen nt TO- do II, and therefore we
must l don't hKo this Il has the Appearance OF
tmidty, and there is lack OF courage and lnde,
pendenco about It, l can understand how small
nation, lying in the shadow OF that sreat Empire ana
IN territoris contact with IT. may unavoidaoy DO IN
nuonced by its policy. But we are under
such embarrassment. aud We are strong
enough and should be bravo enough to stand upon
our own policy. Is 1t so that wc must, now
aud always hereafter. change our system OF money,
regardless OF condition and advantages, whenever
Germany or England secs 1t TO changer Are they e
dominate uss Shall wc be ever looking nervousiy
aud tm,dly toward Europe to know what ws should
dOY Let rather round auu look upon our
selves upon our extraordinary resources, upon ou
rich mines OF every kind in tho earth and our rich
lands on the earth upon magnificent domain. and
upon the swarmiug industrious and enterprishg pcn'
Let 1t be enough for US 10 comprehend tho ono ano
know tho other, and so arrange our policy
OUR OPPORTUNITY.
We are told that we should have gold that we may
be in commereal accord with Europe. II Is we'll
may be in accord with Asia and other nations. So we
VIII bo in accord with all, and that viii DO better
Great nations DO not try help each other or look
alone to thor commerce with each other for prosper
ny. They rivals rather and contend for tho COM
merce OF the weaker aud more necesstous nations
The commerce OF Europe, We appreciate u tho com.
mcrce OF silver loving Asia, with her s0o,o 600 OF
thrifty ana INDUSTRIOUS people, let us appreciate that
also II is diricut to overcstmate it. It was this
which enriched Alexandria and the cities OF tho Medi
tcrrauean In thor day; II was for this that Portugal
sought passage by soa and having found IT. was on.
rchcd never before or since Is this that at the
present day swes tho wealth OF Holland, France and
other European nations what were England with.
out tp II is this mainly that Russia Is now wadng
snorlcr passage TO this commerce that America wm
iound--iound for us. How grand our possessions,
how independent and commanding our position
What an opportunity for national Development what
a variety ana completeness oil treasure! Can II os
doprecatc any OF t. or shall utilize tho wholef
With gold Tor somc, silver for othors ana tcemlng
products for ALL be II ours Gro long 10 control the COM
mercc Of the world.
Mr.. GroesbecX was greeted with applause at the
close aud given a vote of thanks He showed the
metal in him in brilliant way by fencing after his
address with those who sought TO thrust hm through
with questions about the value Of 1.-The dollar OF our
fathers" Mr.. Poor. OF Massachusetts,, Mkcd Mr.
Grossbeck what silver dollar hc recommended,
and Mr.. Groosbsck replied that no was In
favor OF tho dollar OF Alexander Hamilton. Mr. Poor
said. ssThat dollar is only worth nncty-thrss csnts
to-day. 10 you still favor thats" Mr. Groesbsck-"l
do, but would make the silver riso to equal the value
OF gold" MIR. Poor replied in elect. "rhen you
would bring tho gold dollar down to ninsy-thred
ccntspr In answer which MI Groesbeck said, "No,
the old gold dollar and tho old silver dollar should bs
recoinna they were before they were withdrawn"
Mr. Poor held that the result OF any such policy would
be that the silver dollar would virtually be the only
metallic currency, for one would pay debts IN gold
at 100 whom he could pay IN silver At niuetytnrec
M Grossbeck held that tho two metals would get aud
| keep ABREAST
ME-. RuaGLEs' SPEECH
Mr.. Philo B. Ruggles, Vice President or tho New
York Chamber OF Commerce. In speech from the
platform cortended that tho coinage metals should
be regulated by thor necessity, and finally rldculcd
the thing had never cxistod-our fathers never ha@
auy dollars He set forth that the silver dollar should
not be limited IN the number OF grains but ina! y
| should contain AZ many grams us should make the
silver coin an equivalent to that OF gold When the
silver dollar Of 42 grains was enacted silver was worth
in London 6Od per ounce. Now silver is only worth
odd, and he would recommend that tho silver dollar
should DO Increased In weight TO mako the Intrinsic
value equivalent TO the market price OF silver IN for
| egn countries He then spoke on tho necessity ofa
unincation Of silver com throughout tho world. He
represent sixty cents and only worth ifty-fous
cents elsewhere the silver would rush back to this
country nnd the gold would be entirely drawn out.
We must mako dollar OF sufficient weight to mako II
what IL represented.
| Grubb, OF Philadelphia, also made addresses.
Mr. Pctor Cooper cntorcd the hall daring the morn,
ing session and was given place on tho platform neal
| President hail.
| THE EVENING SESSION.
Tho principal business OF tho evening session opened
with an address from Professor A. l.. Perry, OF VIII
iams College, the silver question, IN opposition to
| Mr.. GrocsbeGk and others OF that school, Mr. Perry
a the author of Polti al Economy and other works
he took strong ground against tho roestabiish,ncni
by tho United States either alone or conjontly with
some other leang nations OF the double standard q
ratio to each other ana both being ia this ratio an un
limited legal tender for debts. He held that 1.-THE
anecedent koILhuod Is oil against the correctness or
tho tugs and the soundness Of the usons
OF those who favor double standard Of gola and s-
each othcr inasmucn as several OF the great
commercial nas'0ns OF the world have
iveiy abandonea s." He dweit at length on the
experiences Of tho governments OF Great Britain,
| Franco, Germnny and the Unltcu States, anu
gave II his judgment that the besi
financial opinion throughout tue nations u
of gold, he said, rs steader than that Of
silver aud accordingly gold Is better standard than
silver than gold aud silver. What Is wanted Is y
standard OF value and not strictly circulating me.
dium. The present standard ought not ~ %
degraded. The Professor closed as tollowsf-
.sfho third Illusion Of tho silver mon and the lass
shall mention 10 the notion that abundant money Is
somehow favorable to the anasses OF .msn Aoanaan.
harvests are favorable to ulL Why not have monoy
abundant? Why not ada the mass Of silver to the
mass Of gold and have money enough Tor tho
masscsY l. too bcliove, In tho masses OF
men | think their interests outweigh mauyfold
the interests tho fortunate iew object to much oi
tho present legislation OF tina country because it oD'
presses and defrands the ma sses OF my countrymon.
denounce with all my sOui. 80 called protecssve'
tar because II robs tho many and deludes tho lew;
but know that abundant m pncy' always means
moor money. aIWaYs means variable money, always