Savannah morning news. [volume] (Savannah) 1868-1887, 1886-12-30
H0BN0BB. good 90.


Plates Spread !. balt CahNsn o., Abr
No. A %, ~ = s"s
Hospttable Hot at PEI Re-
Strong Plea for MAI al Banks
Boston, Dec. 29..--The merchants Of
Boston were to-day visited by several
prominent politicians, among whom were
Senators Morgan, Eustis, Hoar, Hale and
Dawes, and Representatives Ranuey,
Taylor, Curtin, Morrow, Herbert, Hep.
burn, Long and Collins. The guests
passed most ofthe day in visiting promI-
nont points of interest and in paying their
respects to the State and city officials. In
the afternoon they were entertained By
the officers of the Boston Merchants AS.
socIation at Hotel Vendome, where an In.
formal reception was held, followed by
banquet, at which about 400 people sat
down, gathered from the most prominens
merchants, bankers, officials, public me u
and publishers of Boston.
SOME OF THOSE PRESENT.
Among the number were Collector Salt
onstall, Hon. p. A. Collins, Hon. John ID.
Long, Gen. Banks, Postmaster Corse, A.
Shuman, Eben d. Jordan, Jr., Curtis
Guild and Thomas Hart. At the concliI-
sion OF the repast President Wood made
a pleasant address and introduced Gov.
Robinson, who was received with greal
applause. The Governors address waa
OF humorous nature.
The next speaker was Senator Morgan,
of Alabama, who delivered an eloquent
address upon tho question: "Shall We
continue the national bank system or ro.
peal itW
PLEA FOR THE BANKS.
~
come when merchant shall be permitted
to draw money from the Treasury on a
bill OF exchange, either foreign or domes.
tic, which he offers for sale or discount.
IL will never do to entrust the mother
bank, the United States Treasury, with
the powers Of bank discount or with tha
purchase or sale of exchanges. Let the
national banks do this branch OF the bus
mess on money issued by and redeemabld
TO the United States. Our duty appears
clear TO preserve the banking system.
Whether the proportion OF paperimoney Ia
be issued through them is TO be greater
or less than now should be left to the test
of experience"
THE SILVER QUESTION.
He dwelt at some length upon the silveA
question, and SAID: "Let us In our deal.
ings with silver and gold give TO each a
fair opportunity to assert its superiority
as metal TO DO USED for the purpose OF
redemption when the time for redemption
comes. In issuing coin certificates TO re.
tire legal tenders and national bank
notes at the rate of two Of paper for one Of
coin deposited, the government would bd
no more Of a bank than it is now, when
it has outstanding $346,000,0O0 In legal
tender notes and $22S, ,872, 900 in national
bank notes, which IL Is bound to redeem
on demand. IL will be a safer bank
than it Is now, when it's reserve In tho
Treasury is only 500, 600 900 in gold with
which TO redeem $574.672,000 IN its papec
promises, to say nothing OF the bonds We
owe."
Mayor O'Brien followed with an address
Of welcome to the visitors.
LoUIsIANA's LUNATIcs.
Senator Eustls, of Louisiana, said ha
represented State whose people were
thought to be OF q lunatic disposition on
the silver question and tariff reform. II
am told" said he, tyoa have great dist
dain for what are called the !spoils OF
politics. AS to the tariff question there
are millions OF epoils going into the
Treasury. The object of the law was
revenue, the idea was protection. To,
day we witness paralysis OF
the taxing power because the govern-
ment has fostered too many things. The
trouble OF the situation is that the power
OF taxation mas been used to protect pri-
vate interests. understand your sensN
tiveneSs.
GREAT WEALTH GAINED.
"You have gained great wealth and the
system by which you have gained It musr
be artificial, otherwise taxation must
continue. There is a suspicion which
has existed about fifty years among the
people OF the South and West that the
wealth OF the country enters the pockets
OF New Englanders. DO not myself aud
| say 1t to comfort yoU) believe it will bd
possible TO make any serious changes IA
our taxation. | am In favor OF revision
OF the taiift, and believe you are making
a mistake in opposing it,"
"wHERE ARE Your
Ex-Gov. Curtin, OF Pennsylvania, pro,
ceeded 10 speak upon the tariff question.
and said the people Of Pennsylvania wers
In favor of protecting the labor Of the
country. s'I was told" he said, shy a
Fall River manufacturer to-day that 260,-
900 bales OF cotton were used there in q
year. DO you want to drive that awayt
Great Britain Is a free trade country, bus
where is her market? What made her
rich? 1t was her markets, and to-day we
want u market. Where is 1t? 1t is In
South America. Those countries desire
TO trade with US. American capital has
developed those countries by its rail,
roads. Why, my friends, the progress oi
the South is phenomenal. We can make
iron in Alabama and sell under
our furnaces In Pennsylvania, and have
induced Pennsylvania capital to invest In
the iron interests in Alabama. When
Webster was a free trader Calhoun was
an abolitionst. You tonight applaud
tariff sentiments and you applaud taa
free trade idea. Where are your
COAST DEFENsES NEEDED.
Representative Herbert, Of Alabama.
In referring 10 "the new SOUTH saidt
VA fter all IL 10 nothing but development
or the old South. II in anything we
should lead you in the future we shall NOS
rejoice In your defeat, but In our success.
We will all help each other ever onward.
The constitution was for defense. and as
has been said to- night, we are invincibla
upon land, and can turn out against Q
foreign foe at least 100000 But do
not agree with the gentleman
from Maine (Mr. Hale). We want
more defenses upon the water and
coast. want to say one word for Presi.
dent Cleveland. voted for the civil SER
vice law, and have sustained the admin.
istration OF President Cleveland. No
Draver and no purer man ever sat In that
White House except W ashington. trust
and believe that the storms that are now
beating upon him he will weather. and in
1883 will moor his bark there for another
four years."