New-York tribune., 1891-09-25
Is THE GOVERNOR sTABBING FLOWERP
. cnr.r.c1r IT AA1nNE THAT WILL CHILL THE

A SPEECH AT MALONE THAT WILL CHILL THE
CANDIDATES WALL STREET FRIENDS
Malone, " Y. sept. "a (specap.-GOvernor Hin
made an address here upon the fair grounds today III
the course Of which he advocated redncuoh Oh tne
legal rate of interest in this State from per cent TO
ner cent Prominent Democrats present were much
Msmoved bv what Mr. Hi said upon this topic one
Of them said afterward: "Does not Governor Iul
remember that delegation from New-fork CITY repre-
sentng SsOO000OO0 Of capital was before the Legs
lature last winter opposing the proposed reduction Of
interest as adverse 10 the interests Of borrowers and
CAPITALISTS alike. Why that was the most powerful
DELEGATION that has ever been in Albany. 1t repre-
sented every class Of the community. l cannot but
rerard Mr. Irtl's uteances one intended TO STAB
Mr Flower in the back by driving away from him any
SUPPORT among the leading Of New York and other
cities"
Governor Hill said in the course Of his speech:
In approving a bill during the Inst session OF the
Legislature reduce the rate Of interest on bonds ana
mortgage. held by the Commissioners Of the United
States Deposit Funds In this STATE, from 70 per
ccnt 7 said in memorandum: This reduction Is be
hcved to be in accord with U G%g p pu9fHg Of pel
upon money and which may tend TO pave the way Ior
further legislation upon the subject a...,, t +a
Assembly short time before OF bill reducing tho legal
rate OF interest from 10 per cent Ine 0lll illed
in Tho Senate but It's passage in the popular branch Of
the Legislature may be taken very good Indication
that Inc people of the state and especially the fairness
believe that monetary conditions justify reduction Ill
shall not attempt 10 explain why the bill was
never reported by the Committee on Neneldl LAWS III
the senate may have been aee0s cb ior caTc ny ' To
Albany while the bill was pendlag In the senate CON-
mttce protest against the passage OK uns ana otef
bills Of a much more questionable character.
One Of the distinguished gentlemen VINO appeareu ~
before the Senate committee IN THIS imposing dccear
ton, 70 which hearing was given on April 10 , i9St,
was Charles smith, the president OF the New-6oLh ia
Chamber Ct Commerce, who was chairman OF mo delc-
CATION. ! assume that Mr.. smith sympathlaed ~lth
the object Ct the delegation namely the Gehat OF we
bin or he would not have been present. mGst
assume. also, from the fact OF his presence tldi ie
subscribed those gloomy fears which predicted the
expulsion Of capital from fle money centres o. our
state am surprised that he should have been there
upon such an erTund, for ! remember that not Gelc
two months before he appeared In washington blor
ures In opposition 10 the bin for the free coinage OF
silver. and that IN his speech before ne committee ~
combating tho proposition that the country hcedei
moro currency, he spoke a. follows: There Is 40
lack OF currency IN the great commercial centres. Any
man who has rOt anything 10 borrow with can b0rrow
an the money be wants on call In New-l York to-day az
70 , IL per cent. am a director IN iour nhfncai
institutions. am vice-presdent Of large Nati1nal
bank and director IN two Others ana also director
have got mOIe currency now IN the great commercial
centres than want. Currency is being sent from
the south. from the West and. we ara largely above
oir rrscrve. Tho president OF the Fourth NaflohN
Bank OF New-Nori Id me that he had tiled hard to
loan money at per cent. and could not do H. !.
W. ahe Nc @ vor had AM Is likely 80 70 continue
That last sentence, gentemen Is the Key u the con
vlctous Of some Of Us who believe that per cent Is
iarv conditions which have prevailed during the last
five six years and In Of the tendency OF money
the world over 70 command lower ana lower rate Oh
interest.
a SUCCESSFUL STATE FAIR IN DELAWARE.
Dover, Del, Sept - (specaiE-The largest crowd
that visited Fnirview Park there In attendance
AT the Delaware state Fair to-day. The gate receipts