The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-10-23
Mr.. FOSTER IN OHIO
He Dwells On the Danger of the
Free Coinage of Silver.
HE PRAISES THE M'KINLEY BILL
1t viii Do Great Things for the Uountry-Con,
dition ofthe Treasury-Dangers from
Democratic Supremacy

The Republicans in the Ohio campaign at a
wigwam in this city tonight. About six |
thousand people listened to the speech, and |
frequently interrupted the secretary with !
vociferous cheering The secretary de- |
voted some time to the Democratic gerry
manders Of various states, and particularly
their scheme newly introduced III Michi- |
igan to elect presidential electors by con-
gressional districts. II successful in Iowa,
Ohio and New York this fall, they will iu-
troduce the same plan in those states.
Thus, although those states give Repub-
Ican majority, two-thirds of tue electors
would be Democrats. Thus a solid south
and Tammany Hall, although largely in
the minority, would rule the country under
the forms CT law. How long could free
institutions endure this!
The secretary devoted much attention to
the dangers CT the free and unlimited coin
age OF SILVER His Investigations Lead him
to believe there is in European countries
more than two 0undred million dollars in
silver To say nothing OF the boards in
Mexico and South America that would
come TO this country the moment we are
ready to pay Sl.29 per ounce for ii. We
could not maintain ourselves against such
an enormous strain and would soon be
placed by the size Of Mexico and Asiatic
countries with a currency huctuating in
value and with an ever increasing down
ward tendency. Let no one elude himself
into the belief the world would not deluge
US with silver.
The secretary said the Republican party
has, in his opinion, gone as far as prud-
ence will permit III the matter Of silver
! legislation. He has made il a quiet way,
narafnl nj of
| eigp countries upon the subject OF an inter
national agreement between them and our
/ country by which gold and silver upon
some acceptable basis can be maintained at
parity. 81 have but little hesitancy IN
saying" he added, that but for the feel
ing existing abroad that the public senti-
mentln this country is such as to compel,
! for at least a better use OF silver, If not
international agreement. The success Of
the Democratic party in Ohio this fall
means unlimited free coinage will be the
platform of that party in 1892,
and Democratic success in the ma
! ton means this country must go
on a silver basis. Let Us continue TO
pursue the Republican policy OF conSsrva-
tism; let US convince Europe we are not
going on silver standard. My word for
1t, when Europe Is convinced we will not
adopt policy of free and unlimited coin
age, or in other words, that we will not
place ourselves upon silver basis, we
VIII be able to come TO some agreement for
the better use of silver if not at once to
come to an International agreement by
which parity OF the Two metals upon an
agreed rate may be maintained.
Secretary Foster dwelt at length on the
Mckinley law, citing statistics to refute
the Democratic assertions, etc. He as
serted the 1irst i've years of the Mckin-
ley law will show an increase of more
= n.lA
people with a corresponding home market
for the produce of our farmers. He also
warmly eulogized the reciprocity policy.
Turning to the condition of the treasury
the secretary spoke of the stories of
"critics" on the other side during the past
year. About their assertions that various
payments could not be met, how the con
verting of the bonds was sign of bank.
ruptcy, etc, and how their assertions
had been refut9d by the conversion of the
bonds. I'VE have illustrated that this
country enjoys the highest credit Of
any nation OF earth. We prevented
the withdrawal of SO, 900 in national
| bank notes. In fact it added nearly
Sj,000.0 QUO of these notes to the currency
l We have taken and will take spa, 900 cot
money out of the treasury 10 pay non ex-
tended bonds, which added TO about
800, 000,000 paid out for bonds by my pre-
decessor, Mr.. Window, makes the enormous
total OF about 500, 600 200 paid out of tn,
treasury in cash since the administration
of President Harrison began. With thi
I money there has been and will be cancelled
over S259, 900, 900 of the bonded debt, ant
Notwithstanding all this we still have lef
l a sufficient sum to disarm all fear of al
empty treasury.
. at has been falsely charged that | in
structed my subordlnat9s to delay settle
ments and in every conceivable manue
- avoid the payment of money out Of tn
. treasury, so anxious are they 10 couVinc
: the country of the extravaganza of the
y billion dollar Congress No such orde
L was given, and my subordinates will S
: testify. BY atten ion TO the needs OF tn
v country we have also been able to furnis
9 the west and south with small bills q
L cheap rates, to the full extent of thei
wants, and in quantity perhaps double tn
amount ever before sent"
The secretary spoke of the "uuique sys
II tenn of bookkeeping made use of by til
a Democrats when they had control of til
o treasury, by which the treasury was show
q TO possess u much less sum of money tina
- it had. This method was changed to syi
% TEN that is perfectly fair and iutelligibl,
! Yet the critics charge me with the jus
u Cling of figures. If the Democrats coul
!. convince the people they are on the vera
=. of bankruptcy; that new industries, Iii
10 tin plate, cannot be made success in th
II country. and tnat the treasury is banl
= rupt they would be in a heaven OF deligb
!, The Republican party breaches the doctrlI
w of hope and not of calamity and despair.
- does not delight in the unpatriotic occur
- zion of derding the capabilities uf OF
= people or of classifying facts in regard
the financial condition of the treasury
y In conclusion, Secretary Foster eul
y gized the administration and Preside
Il Harrison and expressed confidence in Il
IN election Of Major Mckinley.