New-York tribune., 1878-02-15
ARGUMENT AT THE UNION LEAGUE
PRESIDENT WARD MAKES AN ADDRESS ON THE
SILVER MADNESS.

PRESIDENT WARD MAKES AN ADDRESS ON THE
SILVER MADNESS.
The regular monthly meeting of the Union
League Club held last evening, called together large
number Of the active members. The Club decided to
hold its annual Ladies' Reception Wednesday evening,
February 81. George Cabot Ward, the newy-eected
president, on taking the chair delivered inaugural
address, In which no discussed the silver question In
a manner which called forth the applause Of the meet
ing.
Mr. Ward first expressed his thanks the Club for the
honor conferred upon him. and then said:
1T has always seemed to me marked testimony to
the character of institutions that a body Of men
united together without specific obj ects personal
aims beyond developing q healthy influence, which
should serve basis to public opinions and actions
in support OF imperlied National fe and without
any outside elements of beyond the character and
cooperation OF members, should so fully have real
lied its purposes have become influence, notony
home, but also in the neghborng States and to have
been known and appreciated in foreign c0untres while
during the whole period OF its existence 1t has always
been credited with acting from unselsh and honorable
motives. OF the original objects for which we were
united many have passed away with the restoration OF
peace. Perhaps the only Of them stu prominently
before u.s. Is the promotion OF the same ORDER perma
and responsibility in public service as are the
conditions Of and efficiency in our private affairs
But class OF dangers have arisen, not then con-
tempated or deemed TO be possible and the more dlh
cult to contend with because the people. wearied with
the struggle which they have passed through find 1t
hard to bring to Their consideration, the same en-
ergy, courage and enthusiasm. which characterized
their conduct through all the OF the Per-
haps the trouble from the fact that our courage
for endurance Is not fully developed our courage
for daring and that instead OF waiting for
the slow and benehoient processes Of nature, we
are ready TO take up with any recommended
remedy which promises temporary relief But the sym
pathy we should otherwise feel IN the hardshps can
estimate, because all share them. is not consistent
with the great ana appalling danger to which we are
suddenly exposed. IL is nothing less than the e1
change OF all that gained by the sacrifices made dur
ing the war, for the simple halucnation which comes
from fevered and prostrated imagination II the old
story OF Esau selling his bIrhrght for OF potage
Three questions are involved in the silver scus-
sion going on before the country: In
the proposal to substitute silver OF deprecated val.
In place of gold as the basis OF our National dcDt ana
l. Whether National credit shall be maintained by
keeping iuyolable he spirit OF our engagements In re-
spect TO the debt incurred in saving the LIE OF the Nd
H. whether we vii! restore our currency par OF
value In specie which the basis OF Its creation and
which II promises To pay.
Ill whether our currency SHALL be nomnaliy Of
the intrinsic value OF the com representing H. mere ana
throughout the world or be based on security only rep
nting nlue-enths OF ts value
The first OF these involves our existence "a Nation
whether responsible corporate body OF "a mere
aggregation OF irresponsible men the second the class
in which we shall rank among Natlons ana the thlrti
stated separately In the proposed action
II disastrous effect Is produced all will be produced
nation will rise upon the rains OF the old one
separated by great sui frT1n ., an s dsnstpns
it question of our ability but of our ncna
Early in this century great nation. after long series
of war, In which its obligations had fallen below par
restored It's eurrepcy AID obligations to The coin value in
which tney were incurred second great nation, whose
war was snbsequen aud ts termination attended
by so large cessiop o treasure and territory about
on the terms Ia which they Incurred, without de
dncfion or reservation. IL viii be Of more import
to her future position among nations Than the disasters
and losses whicn caused It's necessity.
The third place has been Reserved for us. Not only
have claimed II. but placing ourselves IN the broad
light OF the experience Of The ages. We have never al
we have and what have done, thnn at least tO
equal these great rivals Ia the course they have pur
their credit aid tae pledged faith and We have looked
around there might not be some superior act TO
follow this that night not only equal, but surprise
the sober integrity Of the Older nations The whole civ
flied world has looked on grateful aud Interested Tor
the example setting, Oi young and vigorous |
Nation the hope OF the fut1c voluntarily seeking the
same upright path To distinction which all the expert
elce OF centuries vi National lie and aspiration among
the Older nations had been needed to develop among
them.
Tnere If 10 monopoly In the greatness OF Nations. hut
there is also The world looks with synpa
s"3,mens of hope and fear as the higher or lower mo-
tyes appears to gain the prcondeIance ont when the
decision is made and The die Is cast the Nations /
move on each in It's course and the Object /
OF so much soctude is rfi in the portion II has chosen
itself whether Of honor or of failure; there no
in II aud no fate; nations are governed ny the
imc laws which regulate the lives OF individual men,
and unless all the teachings Of history at fault. II we
lail now must al once fall back into the second |
nk nations and there remain TIL another generation
arise and more earnest In mantaiDngan
influential position IA the councils OF nations lions than we
shall here ourselves. have never believed since
the consideration OF this great alteration has come up
nor believe II now. that We shall fall 10 ourselves
and 10 in this unay Oidabe choice. have
always felt and l shall feel, that when the Nation
has had time for its great good sense, Ito reason
s leH these S s 'd Win be-
those who. in their excitement. have deemed
thus departure in the history of nations, VIII real
lie that has only been the creation or an overtaxed
brain and exhausted body, aud that as rapidly |
IA this mugical creation the imagna ton has been
conjured up will be dssipated and tnc memory OF
IL VIII only remain Is warning and an admontioD.
But II II should he otherwise. " II should prove that
given up their iiyes 10 accomplish what Is no" ~
sake-uur National life, our National honor and our Ma
the manly virtues which had been gnrnered
up, that II VIII require new generation 10
complete the work they have left unfinished;
ifit should appear not up to the re-
spou .biiics which their sturdy aud vigorous pur
pose had imposed upon us. and that long period ef
National ohscurity and prObasOn store for lis, be-
fore step out more into the place they hnd
desg gned the Commonwealth OF Nations then let
these young and sons eke up the burden when
shall nave proved too heavy for ms. When the ship
which bringing Columbus to our shores had almost
completed her voyage, and the crew. weasy win watch
ing demanded that ne should lead them back over the
seas they had crossed with so much pain-lt was then
ONLY the courage tine decision, the more than genius o
great captain that brought the ship In safety to the
new world. That new world has been intrusted 10 u.s.
solemn import marked the occurrence ON that little
ship In mldOceau four centuries ago The same |
en-. the same terrible, unfcas0ning and base
lrss panic has sprung up IN night 10
disturb the otherwise prOsperou, voyage III each case
10 90 forward - part prudence 10 back, tha
OF destruction and fear.
ANOTHER PROTEST AGAINST SILVER.