New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-16
BLAINE TO FAIRCHILD.
THE SECRETARY'S FAILURE TO ACCOUNT
FOR THOSE BANK LOANS.
Ills ATTENTION CALLED TO 4 DEMOCRATIC PREc
EDENr THAT MIGHT HAVE BEEN FOL-
LowEp-MR BLAINE SPEAKING IN

LowEp-MR BLAINE SPEAKING IN
80. NEw.ALBANY.
New Albany, Ind, Oct i5.--InclomeDt weather in.
terferd somewhat with the demonstration here to-day
over the arrival OF James g. Blaine, General 4. r.
Hovey, Corporal Tanner. General King and A. snor-
den. Toward noon the rain absed Thousands or
visitors from louisville. Jencrsonvr, Charleston,
Madison. Corvdon and other neighboring points,
tramped about tho muddy streets Al o'clock Mr..
Blaine and General IIovey held public reception AZ
the Windsor Hotel, around which several thousand
PEOPLE clamored After shaking hands for an hour,
Mr. Blaine Thanked the assembling :0r me coiut'i
welcome extendM General flovey and himself ana
returned b ex Congressman CuIbr sons house whers
be received many callers during the day. Notwitn-
standing the unfavorabe conditions the street pat~s
I'm tho afternoon was declared by citizens TO DC lhe
largest and most imposing demonstration IN me MS
tory of the city. The mass-meeilns a. hcia al mo
intersection of Eleventh and Market SIS. IL Is esl
mated that from TO twelve thousand people WcFe
present Mr. Blaine arrived az 80 and was given
an ovation Owing to the dampncss he ola moi ~
move his heavy overcoat, and early In his address
asked permission replace his nat, and the big audi
ence yelled It's approval, crying
Yes yes, that's all right; put your bat on, Blame
and don't catch cold"
lie was IN good voice and began his speech by DIS
proving Mr.. Ms's denial that Mr HavemeSer was
before the Dark Lantern frsc-rade committee re-
ferrlng TO "The Congressional Record 10 show ina,
Mr. Ms's memory was at fault. lie then proceeded
in part follows:
| ind also ia the papers to-day a report Of
Tsrchild. the secriay of the Treasury appeared 70
defend bis policy OF losnlng sOOOOcoo OF The people,
defence consists chiefly in proving that ovefstae1
the amount that those banks could make out OF thas
The Whole $50 100000, whereas the banks are com
PEELED to keep IS yer cent of 4 IN their vaults Poor
Ia sngbe, ard cheers think Mr. fairehd's an
swsr is positively amusing; and # recalls 10 me Tho
prize In a lottery few years ago. whom the habit
was to deduct Is per cent before paving the amount
twenty ri IhSsand It Would have ruined me TO pay
the premium Q-sughterl Mr.. fsrchlh d . nor
moi state to tho people how The bank, could afford 80
buy Government bonds when the Government rsef
ceedng for these banks 10 invest 10000 900 in Gov
errmeni bonds why not SIN more advantageous
press ibis question upon Mr Fa.rchld. for be ha.
not answered why, 4 the banks could make to is
per cent upon the purchase OF ,nl'ed saa' ss
tours the Treasury Department could MOI MAKE a,
much cheers When By dSni o M 200 o IaI pus
debt. (CheeIsJ ] press This question, nor Ohly De
cause t 10 pertinent qaos,io9 but i !; question
When surplus Mad If Perez
during ne annsd 10 81 The rsyment Of the Mes
lean var debt, not yet due: and ne same vas re-
administration by secretary Howell Cobb, when the
premium went as high as IA pcr cent or e GonaS
they anticipated rPCretdiy buihII. va, ,i''Ss
for paying a premium for these bonds and he asked
The very question | repeat 10 Mr. Farchild He
asked why those Government bonds were not worm
as much to the Treasury Derart mcna az 70 any phe
question which ! ask MFR Fairchild to-day, IN ""
name Of Secretary Guthrie, for no was one OF ths
abest fnancers who has administered the treasury
Department since Hamilton.
Rut, while Democratic Secretaries before the war
would anticipate. even with premium OF - Per
cent. tho payment of the National debt. Mr. Fairchh
estimates that he VIII not 90 above los IL for the
whole body OF IL per cent bonds still out II was
suggested that he might make = per cent lie de
MES II and says he only make 90 100 per cent
as II that not worth picking up on SlOo.oOoo'o
General Harrison made we'll grounded accusation anf
used happy phrase when he accused the national
Admins,ra'ion OF nursing IT, surplus; Ir Nl;;
states bonds, II would not have appeared IN ne SUI,
plus bur II ne loaned It 10 The pct ban.s u stll,
appears part Of the frfgh'iul surplus 10 :et ro
Of which the people must destroy the protective
tariff There Is q very suggestive point bearing on
that, to which beg Mr.. Farchild's attention. ne,
tween March 4, 1854, and June ,. innb-a year ana
tho surplus In tho Treasury increased So ooOUs 81
and the public debt only reduced $50 GOO
OF this $50 900 900. S44, 500 600 was compulsory
purchase for the sinking fund The hirther tacr Is
r,.vea,ed that there was az that very date ToocOo,
400 of per cent bonds that could have been caiicd
IN at par and that they were Yer, IN ane Ha'os or
that the bugbear Of the surplus might be raised, ana
as General Harrison says carefully nursed''
(Cheersl a. u... $50,
an adminlsi ration OF the Treasury DEPARTMENT mar
showed little practical comprehension OF IN,
condition of the country one that has been so neh
always MARKS the theoretical free trader Great cheer
lncD sad before. and rereaf now tha1 u =
Republican secrctaiy Of The Tr's.ury haa oans'
interest, the Democratic party II they controlled
the House OF REPRESENTATIVES, w0nd have moved -
impesch him; and believe 1t. Crcs of " That's SOY