New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-26
EVILS or REPRESENTATIONS.
PROFESSOR SUMNER REApS HIS PAPER o\ SILVER
BFFoEE THE MhNHATrAN CLUB.
Professor William 5. Summer. of Yale Col

PROFESSOR SUMNER REApS HIS PAPER oN SILVER
BEFORE TIE MANHATTAN CLUB.
Professor William = Sumner, of Yale Col
cgc read Ms paper ON The RECOMMENDATION OF silver "
before the Mlnhatin Club, last evening. ~ Is wei
known he strongly opposes cmonctzation measure
which viii seriously npr the public credit aud hc i'll
furious The best Interests Of the dcbior nud creditor
alike. The Attendance large, including poll
tcians merchants and bankers. Among those pres nj
August Belmont, president Of the club, Who miro
duced Professor sumner with few remarks {;
John J. SEQ. 4. J. Nanderpocl Chc'-justcc Clris,
Lawrence 1urnure, Corporation Counsel whitney
Henry l.. Clinton. Erastus Brooss, cX-NdyOr W"kham.
T. T. Wallace, senator Wag-taf, simon Strrnc. Dr..
Austin Flint David Dudley Field Isaac sherman. Her
bert o. TEom,-ou joaquin Mlci. thr Rev. Dr. ~hipman,
Of Kentucky and M Mcyitker aud Peter Van s'haach
OF Chicago
Professor Summers prc.cutltor Of Ms subject was "a
severely LOGICAL and mcihodcal Il. c1,-foo lecturer
ON noliical economy. Whenever he touched upon tn
National honor ana the disastrous effects y" lHdN'uh-
AMI The country OF q .iiycr standard, lu- manner
if such doctrine a. those advanced hy The silver men
were adopted ~ ia" "oN'ruihtl IT W"'h "' hIl'' I'
ton COIN be thrown ont. winch the cfcd ter
never thoasni ef nr C.'di'oI d'rs ,i mex , ,"l'
nn De- chcaprncd tie creltor naturally
%1r To- !, cnrlcr Stan lard without deep National DR.
honor The ~ gum'nt. based On thr ntcrrr' iaton ~
the word r? , ., ' n fSi r had ,i i
deal Win "a political ami ecorouic question: ai1
not with a legal Inc 'rcIf al c"ui-
inv surrounded IuL!Vid Interests with an
niIos,,i c.c from which tn" derived t'ir Ne"r and
their character Even looking ~ tie matter IN The Iict
OF .rii-rricSt Oay. -. 81 considerations 81 10 or
and good fai Wuuid to- in Epc iirni To rcU"u"h"
silver; IT. would ut pfN, t. usr Iir popular Ihrst
lie believed the silver az Ia ION would ur lr Greater
f,-t of the stun the Niun made 81 thau Na- TIE
civil war. IL struggle IN Wnl'h trLth
honor Eorcsty and the pGbic credit would br
the guiding principles, and ne BrF'rN con
d.mn,d those dragging i-noiaucc
and pas ion Iuo H. large debtor class Away, gr'w
up after d,cprd and political change. Private ndrht 81
ness had greatly increased ia Il teen years, hut 10 ~
dlVIiuaI debtor cOuld show low the rrmUnctI1ou II
sIiycr could help l.m Out Of his difficulties. On! the
bullion brokers would pfcht bV II. lhr Pr du''r
and tlc receiver ~ wa",- would hrd Themselves
robbed 10y forces which tEcy could neither nor uu
Grrst md, while the confusion Hul uncertainty which
would csuc would b. The opportunity ~ those vino i've
py nnnucirriug." sound banker Knows that what g.
Tor the 4 of the customer III tie lpuC ruil Tor tie
interest bank the long Only those NlphD ult
a nation could sell without hlgIur would bel"Ic .att
tine SILVER policy would nj the d' binr ct-s Every
man VINO lived WITHIN hs income Wasa creditor, nud
every man lyci hcj Oud 's income WIS di bor
In modern civilized STATE" sealing uf Gci~ would not
ice uOrS,nic The adoption Ot GrWcCatCI standard
must taken the fl.~t .t,p toward National bdlik
Ipfry pcpircatiU once begun "lWal advanced swiftly.
II was afsird talk uf keeping M n tt"u tai dhta
were pad. Ten ycaIs lrO,n now under nld'iJL, the
country would be more heavily IN debt IMAM now The
Idle those who have nothing would pOht ~ the ca
pcnse OF the prudent ana economical