The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1888-10-18
NEW YORK,
Great Popular Demonstration in
Wall Street-Speeches of
Falrchild and Carlisle.
The Political and Financial Sue
cess of Cleveland's Admin
istration Is Proven.

| ou9iheSo neh Uhis AFTERNOON, and the
meeting before the ub-treasury in Wall
street and subsequent procession up town
we're fully equal to the hopes of the man
ayers. The meeting was presided over
by Joseph j, O'Donohue. When Secretary
Fairchild arose he was welcomed with a
roar of applause.
Secretary Fairchild said: "WhenVI have
the honor of addressing you feel am
speaking to the whole country, for you
ness and business men of every part of
the Union, Whatever is we'll for men
of Maine, of California, of Minnesota,
of Texas and the Carolinas is we'll for you,
and what is bad for you is bad for them.
l know we are often told your welfare is
not the welfare of some parts of the coun-
| try, but have never been able to find
reason to support this statement. Coed
economical government, prosperous busi-
ness, a safe currency and low taxation are
we'll for the whole country; are well for
each and every part of the country. One
part of it cannot suffer in any of these
respects without instant communication
of the ill to every part"
The secretary then went into the history
and policy of bond buying and depositing
in national banks, and gave figures show
ing the amount of bonds that have been
purchased.
He said: "Up to the LIST of this October
all of the per cent bonds outstanding at
the beginning of this administration,
$194, 10000, had been retired, and in ad-
dition $S1 ,923,24O of and AZ per cent
bonds, at cost in premiums of $14,81O,-
IT'S; or, in ALL there has been applied to
the retirement and purchase of bonds
1896, 1924, 518, and the total interest bear
ing debt, appearing in the September
debt statements,is under the s. 600 100000
mark-the first time in generation that
it has not taken ten figures to express it.
By force of untoward circumstances the
office which happen to fill is one of the
most important factors in the oountry's
business. 1t is not right that this should
be the case, and believe another term of
demOcratic administration, with congress
pledged to support it in wise measures,
would result in such reform as substan-
italy to eliminate the treasury depart.
ment from your affairs, thus curing an
abnormal condition which has, within
it's possibilities, great injury to legi-
innate business, and great wrong
whenever the head of that department
may be unwise or unfaithful.
1t is not at all necessary that this oondi-
ton should exist. II is the mission and
duty of the democratic party to put an
end to it, In some quarters fear mas been
expressed lest trouble should be caused
when the government might suddenly
withdraw its deposits. / can imagine no
state of affairs under which it would be
necessary to do this suddenly. The amount
deposited is now about $57,000,000, and
the government can clearly show that SEQ
rotary of the treasury need never suddenly
call for this money, or call for it in q way
to cause embarrassment to general BUSH
ness. 1t must be remembered these de-
Posits are not like ordinary deposits, but
that the bonds are given to the govern
ment as securities, which, when the bank
| repays its deposits, ii can at once sell to
the government on such terms as will give
the bank from % to 30 per cent more
loanable money than the government de-
post gave it.
oARLIsLE's SPEECH.
When Mr.. Fairchild finished, Mr.. Car
Isle was introduced, and he was also
warmly welcomed.
He said: "Mr. Fairchild had spoken of
the intimate business relations existing
between the people in various parts of the
country, and of the dependence of each
local community for its own prosperity
upon the prosperity of all others. think
this is the case now to greater extent
than ever before in our history. One of the
most beneficial results Of the last presi-
Dental election was the establishment of
harmonious relations, social, political and
commercial, between the people of all
parts of the country and especially be-
tween the people of the north and south.
Social and commercial intercourse be-
tween the people of both these sections
has never been 80 close and intimate AZ 1t
is now. The union of states was never so
strong as it is to-day, and it is strong be-
cause the people everywhere feel they are
once more citizens of free government
"a government which will treat them
justly and fairly. The north has never
had 30 good market in the south for it's
products as it has now, and the south
has never had the use of so
much northern capital as it has now. 1t
is not too much to say that, If the policy
which has largely conduced to produce
these beneficial results shall be continued
four years longer, it will be impossible for
any political poverty appealing to the
prejudices of one section of the country
or one race of people against another
section or race. l believe If there were no
other reason for the reelection Of Grover
Cleveland as president of the United States,
the fact that his administration has
lnaugurated an era Of good will between
the different sections and different races
would be amply sufficient. That it is the
deliberate purpose of the leaders of the
republican party to reopen the sectional
and race agitation which was allayed by
the election of Mr.. Cleveland, must
be apparent to everyone who prop
erly considers the present situa-
ton. Already bills and resolutions,
which must inevitably have that
effect, have been introduced In the repub-
I lican senate, and their passage is earn
estly urged by gentlemen whose counsels
have a controlling influence with their