The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1878-09-20

with universal public favor, to make the
entire currency legal tender and call in
the National bank notes. Gold and pa
per to-day are equal within 4 per cent,
but this appreciation in value is not the
result of the resumption bill. There is
difference between equality of values
and the resumption of specie payment
by government. This appreciation is
due to the fact that for two or three years
last past our exports have exceeded our
imports by from two to three million
dollars. By the report of the Secretary
of the Treasury for the year ending July
81, 1877, our imports were $461, $50, $40
exports, 1901, 49,, 29S; an excess of about
$140,OOO,OOO. For the year ending July
81, 1873, the exports were $271 ,22O, O63
more than the imports, and while the ex-
ports have increased over last year, the
imports have largely fallen off. We
paid 1910, 100000 of what we owed, suf-
fcient to pay half our foreign public
debt. If the appreciation of paper mon
ey was due to the resumption act, why
was it that in 1873 $1.11 in paper equal
led 81 in gold? In six months thereaf-
ter paper was $1.14, and in 1875, SLIT.
The paper rose in value because the ma
tional credit rose
On the first of January next we can go
to the treasury with legal tender notes and
demand gold. The amount to meet re-
sumption according to the statements of
Secretary Sherman is $129, 100000.
There is in circulation $346, OO0, 900 legal
tendencies, and $500, 600 900 bank notes;
on. the first of January all this goes on
gold basis with one hundred and
twenty-ni million to meet it. So long
as there is 6ne-half per cent. difference
between paper and gold, men will de-
mand the gold. To meet this emergen-
cy, it is proposed to sell bonds For
bonds sold this summer the secretary of
the treasury received $240,0OO,OOO in
bullion 100000 certificates from
banks of deposit, and 800, in coin. 1t
is one thing to commence to pay gold
and another to continue. The question
is, shall we keep the legal teuder notes,
and the republicans of Kansas say we
shall. The effort should be by legisla-
ton to keep paper at par; and bankers,
syndicates and moneyed interests ought
never to have the power to draw gold
from the treasury.
The first aim of all financial states
manship should be to keep the standard
of value uniform. The speaker went on
to show how the purchasing power of
i gold and silver was so affected by the
financial legislation of Germany, as to
make the adoption of the Bland bill pro-
viding for silver dollar of 4201S grains
netenths fine a measure in the direc-
ton of preserving this uniformity of
value. The American people are in
every instinct honest, and in this meas
ure they agree to pay just what they
promised to pay. The republican party
gavesthe country the legal tender notes /;
and the Kansas republican platform
calls for their retention. Great parties
are not made in a day. The Republican
party stands foremost in the struggle
for human rights. With regard to the
question of labor, the increse of
wealth in this country amounts to little
over two and a half per cent, and that
ought to be what money would honestly
produce, and when it produces more it
draws from what legitimately belongs
to labor. (Applause.)
Col. Phillips closed with an appeal to
Greenbackers to remain in the Republi-
can party. Himself Greenbacker, dyed
in the wool, he believed that the Repub-
lican party was the proper channel
through which to obtain proper finan-
cial legislation, and it should not be left
to the contEuk-of Eastern hard money
men. Eugene Hale was beaten by Dem
ocrats and Greenbackers in Maine. The
larger part of the Democracy is in the
southern states, and southerners regard
ing alike the greenback and blue back as
natural enemies, would gladly revive the
old State bank system. We cannot safe
ly confide in the Democratic party, and
the Republican party alone is able to
cope with it. [Applause.l
Kansas, great as she is, not only in nat
ural resources but in ideas, Republican
Kansas, rich in a sacred history, born in
tears, baptized in blood, in the great
battle between capital and labor will be
once more the banner State, ever striv-
ing to secure the just rights of every
man, which are only found in measures
for the security of government Zap
plause.l Col. Phillips speech which
was an able summary of the financial
question, was followed by music, which,
as Senator Ingalls, remarks will show,
was worthy of all appreciation.
1t would be impossible to do justice
to Senator ingalls, address in such a
summary as we can furnish here. For
grace of movement, polish of manner
and force of utterance, the Senator is un-
surpassed among our Kansas orators.
His address was logical and pointed
statement of the true issues before the
people, expressed in forcible Language
and replete with illustration. He pre-
missed his remarks by expressing his
sincere admiration of the music of our
band. He said that for precision of
leadership, emphasis and fine execution,
he had never heard it surpassed, and he
regarded it an honor to our city and
State. After an Introductory anecdote
he said that we as American people do
not fully value the privileges we pos
sess, as the custodians of all political
power. He recognized, to its fullest ex
tent, the doctrine of the responsibility Of
public servants to their constituency
In the struggle of parties we often for
get to distinguish the true object and
purpose of government. 1t is not per.
sonal question as to who shall be post
master or control custom house, but
it is the province of the people to con-
troll opinions, The object of govern.
ment, society, institutions and laws, is
to secure the rights, life, liberty and
prosperity of of every Individual of the
human race. The question for each cit
izen is-"How can best assist in carry.
ing out this great fundamental princi.
pie of government This question is
T not mere question of predominance as
. between the Republican and Democratic