The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-10-09
BLAINE OF MAINE.
He Makes q Strong Ar
gument for Hon
est Money.
The Evils Of a Political Currency.
Some Fresh Facts About Our
Bonds.
Gold and Silver the Only Real
Money.
The Evils Of a Political Currency
A SPICY SPEECH

BosroN, September 26-Faneuil
Hall was densely packed Tuesday
evening. with a crowd Of gentlemen
and ladies' who assembled TO hear the
Hon. James G. Blaine, of Maine, de-
liver and address on The Worst of
all Curses-A Political Currency"
The Boston Cadet Band furnished
the music. 0n the platform were eX-
Collector Russell, Collector Beard,
Senator George +. HOar, General
Banks. ex Collector Simmons, ard
other dignitaries. Tie meeting was
called to order by the Hon. Wal
bridge A Field, who presented the
speaker of the evening. Three cheers
were given for the Hon. James q.
Blaine. Of Msine. Three cheers were
thereupon asked for General Batter,
aud given with a viii. Alter thesuo-
sideace Of the applause, Mr.. Blaine
spoko ss follows:
AN ARGUMENT AGAINST \ POLITICAL
CURRENCY.
Mr.. President, Ladies and Gentlemen:
The American people are at pres
ent engaged 10 q task that should
never have been laid upon tbem-the
settlement il q political campaign OF
a currency question; f0r | venture to
ssv that If there be any one thing
that the people Of the United States
canuot stand, If there be any oae
thing that viii smite aud blight the
prosperity Of this people past recall
and past recovery, it is 10 have . pol
itical currency.
The people Of the United States do
rot want Republican money they
Go not want Democratic m0uey; they
want the constitutional money OF tae
people for all classes. and for all
classes alike. Cries Of Good, good"
and applause The tendency Of the
present agitation, the tendency Of the
issues which we are met this night 10
confront, and which is upon this peo-
pie TO settle, is to give US that worst
Of all curses, a political currency.
Bear with me while in a brief review
l trace the facts and the history that
have brought US face to face with the
issue that we now have. Mr.. Blaine
then went into exhaustive details
concerning the issuing of paper mon
ey during the war. This issuance be
characterized as an absolute necessity
on the part Of the Government, in
which matters they have no choice.
1t would have been squeamish, be
said, for the Government to have hes
itated for an instant. When we put
our money iato the hands of the Gov
eminent we expect to get back mon
ey. We did not want to get back
rags. Laughter and applause.
Gentlemen may argue aud quIbble,
and cavil and dispute, and assert to
the end Of time; but / say, as between
man and man, that the last thousand
millions Of dollars that fitted out the
great campaign Of Sherman and
Grant, the campaign that ended with
the fall Of Atlanta and the surrender
of AppOmattox, were fought on the
thousand
MILLIONS THAT WERE BORROWED
Of the world on the pledge which was
the foundation of the loan-that
pledge being chat the amount Of
United States notes (that is, green
backs, said the speaker, parenthetic-
ally) issued, and to be issued, shall
never exceed Si00, 000, 000." Ap-
plause. | will leave il to the judg-
ment Of any twelve impartial men 10
this audience. ] will ask them if
this Government can go forward and
launch itself on the vast, bOundless
sea of greenback money! Applause.
/ should regard it as a wiser, a safer
and more expedient measure to leave
the subject of currency to the Board
Of Aldermen of the city Of Boston
than to leave it to the Congress of the
United States laughter and ap-
plauss because Congress is Loeessar-
lily a political body. There never has
been in this country, or in any other
country, a system Of banking that
gave such absolute and unqualified
security to the innocent third party.
the bill-holder-as the National bank
ing system Ct the United States.
Applause
Instead Of having notes issued by
each State, we have now one kind of
money, which viii pass current in
any part of the United States. Ap-
plause. A voice-if the g%reenback
is good, amt the Government good
for greenbacks ICries of Put
him out!"1 Let him remain, said
Mr.. Blaine, and | will answer him.
Applause
The State banks had no power to
make a note good beyond its own
border. You could not pass q Bos-
tor bill in Philadelphia, and you rev-
err saw a Philadelphia bank bill cir
culate in Boston. These State bills
had TO lie changed at every State
line but a uniform currency TIE peo-
pie will never give up, My Green
back friend, whatever your currency
is, you viii never get rid OF banks.
"A voice, IN. p. Banks" Wild
laughter and prolonged applause.
The only question TO determine will
be what kind of banks you will have.
The State bank bills remind me Of q
story, said the speaker. A man out
West, after negotiating for a farm,
offered the following terms of pay
ment: II will pay you one price in
wild cat bat is Michigan bills; a
different price in red dog'--0hio
money, and another price in good
c~ounterfeits on q solvent bank in New
England" Prolonged laughter
aud applause The proposition of
the moderate Greenbsck party is to
save money to the people by substi-
tuting something for the national bank
uote. ] think the
BONDS OUGHT o TO ESCAPE TAXA
TIoN.
Applause. l go a little further. Il
say they do not escape taxation. Re
newed applause. | go a step further
and say that they pay 8 fuller and
larger share Of taxation than any
other stock, except the National bank
stock. The whole idea of taxing
United States bonds is based upon
the idea that they could be taxed if
they could be found out but that is