St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-12-30
THEY HAVE TO TALK.
As Congress is Not in Session Lot Of
the Members Descend on
Boston
And Air Their Post -Prandial Eloquence
Before Their Admiring Dinner
Givers.
The National Banking System In
dorsed by One of the
Orators,
While the Tariff Gets a Number OF
Good Words From
Others.

At the conclusion of the repast, the mas
ter of ceremonies introduced Gov. Robin
son, who, in a felicitous address, rendered
the visitors the freedom of the common
wealth. Mayor O'Brien welcomed them to
the city. Hon. George n. Stearns, United
| States district attorney, responded to the
| toast, 1.-The United States of America. :"
A letter of regret from Hon. John Sherman
was read. 1t contained several suggestions
upon
THE NATIONAL BANKING SYSTEM
and stated that remedy had been recon-
mended by both Messrs. Knox and Cannon,
and was substantially indorsed by the
present comptroller. but congress has
neglected it. The next speaker was Sena-
tor Morgan, of Alabama, who delivered an
eloquent address upon the question, ''Shall
We Continue the National Bank System"
He said:
hope the timenmay never come when an
| American shall be permitted to draw money
| from the treasury on bill of exchange,
! either foreign or domestic. which he offers
| for sale or discount. 1t will never do to en-
| trust the mother bank, the United States
treasury, with the powers of bank of dis
count, or with the purchase or sale of ex-
| change. Let national banks do this
| branch of business on money issued
| and redeemable to the United States. Our
duty appears clear-to preserve our banking
| system. Whether the proportion of paper
| money to be issued through them is to be
greater or less than now should be left to the
test of experience. He dwet at some
| length upon silver and gold. Give 10 each a
| fair opportunity to assert it's superiority as
metal to be used for the purpose of redemp-
| tion when the time for redemption comes. In
| issuing
COIN CERTIFICATES
to retire legal tenders and national bank
notes at the rate So Of paper for one of coin
| deposited, the government would be no more
| of bank than it is now, when it has out
| standing $346, 900 in legal tender notes
| and S22S, ,672, 600 in national bank notes
which it is bound TO redeem on
demand. 1t will be safer bank
| than it is now, when its eserve in the
treasury is only SlO0,000,0O0 in gold with
which to redeem S574,672000 in its paper
promises-to say nothing of the bonds we
| owe.
Senator Hale, of Maine, dwelt briefly
upon the national security and defense,
claiming that
OUR sEAPORTS
are to-dayas defenselesS as when the vOyag-
ers and plunderetS of the sixteenth century
were let loose upon our shores. Although
not an alarmist, he would call attention to
some of the possibilities, if not probabili-
ties, of the future. We are any day in
danger of complications arising from mer-
chant marine in Spanish ports. If
that worthy old man succeeds
in cutting in twain this continent
who can tell what position we shall have to
take?" Senator James B. Eustis, of
| Louisiana, was greeted with cheers. He
SAID he represented a state whose people
were thought to be of lunatic disposition on
| the silver question and tariff reform:
| IT fOId vi hp hQUn dis
dain for what are called the spofls OF politics.
| AS to the tariff question, there are millions of
| spoils going into the treasury. The object OF
| the law was revenue; the idea was protection.
To-day we witness the paralysis of the taxing
| power because the government has fostered
too many things. The trouble Of the situa-
ton is that the power of taxation
| has been used to protect private interests.
1 understand your sensitiventss. You have
| gained great wealth, and the system by
which you have gained it must be artificial
otherwise the taxation must continue. There
is 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 (and say
it to comfort you) believe it will be possi-
BILE to make any serious change in our taxa.
ton. I am in favor Of a revision of the tariff
and believe you are making mistake in op-
posing it,
Ex-Gov Curtin, of Pennsylvania, was
greeted with applause. He proceeded to
speak upon
| THE TARIFF QUESTION
and said the people Of Pennsylvania were
in favor of protecting the labor of the
| country.
81 was told," he said, ''by Fall River
manufacturer to-day that 100000 bales of
| cotton were used there in year. Do you
want to drive that away? Great Britain is a
| free-trade country, but where is her market?
| What made her rich? 1t was her markets,
and to-day we want market Where is it?
| Is it 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 of the
make iron in Alabama and sell under our
| furnaces in Pennsylvania and l have in
| duced Penns ylvania capital to invest in
| the iron interests in Alabama. When
| Webster was free trader, Calhoun was an
| abolutionist. You tonight applaud tariff
sentiments and you applaud the free trade
ideas. Where you? aside to the re-
pOrters-Don't you reporters use it, am to
retire from politics and l shall appear here
again.
W. E. HEPBURN. OF IOWA,
said of the Morrison bill;
No one really desired to see that bill
passed. The attempt, or pretended attempt
towards the tariff revision, is but public
show.
Representatives Taylor. Of Ohio, and
Morrow, Of California, followed with re-
marks upon the topics under discussion, but
| owing to the lateness of the hour their
speeches were very brief.