Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-24
NEWS BY TELEGRAPH
Ts',p 3enne:,fs 5ournal
ENTHUSIASTIC MEETING OF BAN
COR REPUBLICANS.
Add esses by Juiins &. burrows of Mich.
igan and Senator Blame.
Comments by Senator Blaine on Thur.
mans Speech.

BANGOR, August %. An immense and enthu.-
iastc gathering of people filled every portion OF
Nolombega Hall this evening, TO h.ten to ad L.
dresses on the financial i,sue by Hon. julius C.
Burrows of Michigan and Senator Blaine. The
auditorium was densely packed, the ssles. stage
and vestibule crowded with eager listeners, in
GLIDING large number of ladies'
+. A. Wilson, Esq, presid ed, and Is vice Pres
idents including the most prominent citizens, &C.
cupied seats on the stage.
Mr.. Burrows was received with applause and
spoke with much force an hour, discussing aims
and doctrines of the greenback party and making
logical arguments show the inevitable tendency
and result Of such policy to be reputation and
communism.
| The speaker held the close attention of the au-
dience, which was frequently interrupted with ap-
plause, and the closing appeal to Maine to stand
firm for national integrity was greeted with much
enthu sissm.
Senator Blaines appearance was greeted with
cheers and long continued applause. He held the
large audience until nearly eleven o'clock, with
calm, candid discussion of the financial question,
covering the principal points raised in the canvas
and at the close was warmly congratulated by a
| large number OF citlZens.
| As inaccurate reports Of his remarks on i'm por-
tant points have been published, we give the fol-
lowing portion of the address referring to nation
| ii banks and Senator 1hurman's position. Seps-
| tor Blaine said
The one objection 10 government issuing the
| paper money OF the country Is, that we at once
| and inevitably have political currency whose
| amount and whose consequent value is to be de-
termined by the accidental majority that may con-
| troll Congress. have never seen any other re-
suit, either suggested or possible, than that Con-
gless shall be the ultimate judge in the pre- mise.
Every greenbsck platform declares that we must
have sufficient volnm me Of currency to meet the
demand. of trade. And then they leave it to the
! republican and democratic Ipsrtissns in Congress
| to determine what the demands of trade are.
entertasn high respect for Congress and for
| the men of both parties who guide its delibera-
tions and control its action but in my Judgment it
would be safer to- night for the board of aldermen
| in this city of Bangor to be entrusted with the re-
sPonsible duty of determining the amount of cur
rency needed in the United States than it would
be to leave it from year to year, and from session
to session, to be determined by the political ma.
jority 10 Congress.
The recent speech Of Senator Thurman, extern
svely published in this State. is worthy of Care
fu perusa for it Genes from able and th GU ht-
| full mau. | read it with great interest to see
what suggestion he would make as to any fixed OF
definite mode of limiting the amount aud regulat
ing the value Of the currency issued directly by
| the government, but on reaching that point Mr.
Thurman did a. the boy in the spelling school
| hon he To tha harl
and he offers more satisfactory solution of that
difficult point than the widest greenbacker that
| is now talking irredeemable nonsense all over this
State.
In my judgment the people of this country.
| when they come TO serious re election will regret
the proposition for political currency. We do
| not want republican money, we do not want dem
| ocratc money we want the constitutional money
OF the peopie-not to be voted up voted down
by the supposed necessities the partizan de-
| signs or any political organizations 10 the coun-
try. 1t is utterly idle to talk Of pnttng limit on
| the amount OF paper money that Congress might
Tissue, if it once trsncends the four hundred % Ill
lion limit which it imposed on itself under the
most solemn circumstances that could possibly
| surround national pledge.
|
lures 20 suggest is the discretion Of Congress-
safeguard whose reliability no man has more
| freely disrusted than the honorable Senator kim
self. And it is noteworthy fact that the wild
| theory of paper never to De redeemed, now sdvo-
Gated by Gen. Butler, leaves the control Of cur
rency to the discretion of Congress, just where
| Senator Tharman leaves it.
am sorry, also, to see that Senator Thurman
| joins in what must be excused for regarding Is
an absurd cry against the National Banks. He
| describes them as great monopoly. 1 don't
know what dictionary the Senator uses, but am
| wholly at loss to see how that can be mon opo-
| ly which every man in this entire land is at full
liberty to engage in. Banking on the national
system is just free to day trade is in Bangor,
or farming in the Penobscot valley, and when Mr..
| Thurman compares the National Banks of to-day
free to everybody, scattered all over the land
the great majority with not more than hundred
| thousand dollars capital each-I say when he
compares these with the one giant corporation Of
| thirty five millions capital that Jackson fought
and destroyed, he is talking nonsense; or, as he
. great Senator aud an able mau, will say he is
forgetting distinctions.
The republican party has never made the ma
tionsl bank system one of the thirty nine articles
of its political creed but they are responsible for
the system, and l make bold to declare that we
never before had in this country any system of
banking that protected the bill holder and guar
anteed the public against fraud and swindle.
Banks are an absolute necessity in a business
aud commercial communit y, and NO man knows
this better than Senator Thurman. They are the
| exchanges where the borrower meets the lender
OF money, essential and indispensable to both.
If We break down the national banks, the old ir-
responsible state banks will come up to take their
places. spring up like mushrooms, and all of the
poisonous variety. Three bills think are now
before some committee of congress for the repeal
Of the act that prohibits tue existence of state
banks Ii we destroy the national banks one of
these bills will certainly become law, and then
we shall be treated afresh to that superb currency
SO SO well known of oil under the designation OF
wild cat and "red dog Influential men in
more than one southern state are already clsmor-
Gus for the right to establish state banks.
bar "a.