The New York herald., 1878-10-29
SECRETARY sCHURz AT BOSTON.
HIS SPEECH TO THE woRKINoMEN AT FREMONT
TEMPLx-wHY THE WORKING GLASSES SHOULD
Favor RESUMPTION OF SPECIE PAYMENTS.
lBY TELEGRAPH TO THE HERALD.

Favor RESUMPTION OF SPECIE PAYMENTS.
[BY TELEGRAPH TO THE HERALD
BosroS, Oct. 28. 1878.
fremont Temple was crowded to suGocstion this
evening by audience assembled 10 hear Secretary
Carl Scburz speak finance and the need OF definite
policy 10 bring about . resumption Of specic pay
msnss Besides those who gained an entrance to
the building, thousands were turned away by the
police Mr.. schurz appeared on the platform accom-
panied BY Senator Hoar. Governor Talbot Collector
Beard and one or two other gentlemen. He was re-
csivsd with tremendous burst Of applause, and at
Mr. Schurz beloved that every candid observer ad-
mittcd that the country was already feeling Arm
ground and ho alluded 70 the Efforts Of
ths nhationsts 10 prevent resumption which, II sue
cessfu, would result IN abundance OF money" and
high pfcss IN consequence OF deprecated paper cur
there was NO doubt but shat many well meaning pso-
pie believed that with an expansion 0f paper
tho speaker summed up tho arguments Of
this class, showing that what was worth
3 10 o.,as m January, 1852. ros. 10 81 80
In tho government by the facility win which money
was made but they did not see that we were running
rsckessy into debt all that time, our money beng
merely premises 10 pay. Now the time TO pay nad
come. But admitting The greenbackers' view Mr..
Schurz considered Is doubtful that an inflated cur.
rsncy would have tho effect Obtained in 1862 the
circumstances different OCCASION au extraor-
dinary and abnormal one. Here the speaker rup,dly
reviewed the state oi affairs that existed whom the
gresnback dollar was hrst issued and tho blindness win
which the capitalist aud the merchant went with
venture nfsr venture hoping that the DAY oil reckoning
would never come in MS time But the circum-
stances which surround as to-day are very dfferent
II new emissions OF governments paper currency could
be constit uttonaiy made IN time OF peace, which
do not believe, those emissions would appear
tho creature OF u commanding pubiio necessity. lt
would be remembered that wo can havo u
money system based upon tho precious metals
II wo desire, for u 10 within reach. The
expansion and psrpetuatton ot irrcdeemable paper
money would cnlually Ds equivalent to tho rsjec-
uon VI thAt moasy system based upon the precious
metals. Wnat specie payments mean, what u
gold dollar and notes converted into go!d dollars
are, every sensible man understands. The gold dol
lar rea tangible, and forms reliable basis Tor
cuat,on. But the abandonment Of specie payments,
the rejection ot the gold dollar that the conduct
OF haancisl AFFAIRS Is to be delivered into tho
schemes move IN the realm Of imagi nation. II you
desire the resumption OF specie payment you
substitute Rroenbacks for the national bank
currency thus put upon the government load OF
paper money beyond It's capacity oil rsdemp-
ton. II you want gold 10 circulate you
must not keep the volume OF paper money
beyond the requirements OF the brsines oil the
country; Tor the excess Of that paper money pro-
ssnting itself again ana again Tor redemption will
drain the Treasury OF m reserves and drive eod into
our ieregn commerce. II you want TO guard the
business OF the country from disturbance by fuctua
tons OF relative value between gold and silver, and II
you desire gold 10 remain part Of your circulating
medium NJ alL you must limit the coinage OF silver
10 that quantity whch DO absorbed by the rotaii
trade ana accordingly Ax its legal tender character