New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-12
sence and expressed the heartiest approval Oh 'he
purpose of the meeting
Mp ANDERsoN's WORDS.

liver shinId 50 advance that p $40 grains of god
V %GGd b 0 he hoe Of l15 - grains Of silver 10
day can only buy about 20 grains OF 93f Tor IT,
The mint and receive coin certificate whenever the
certificates are worth anything more than the 20
rn"riet finder the provisions of this act Washing
Ton becomes vast magnet which attracts or fixes the
direction of silver dollar on the globe. and which
rcpels all Of It's gold.
Now, under existing circumstances. how long would
the coin certificates command more than the 20 grain
Of gold which are the equivalent of the bullion vane
q the silver dollarl Not day-not an hour. the
The Treasury Of the United states, after the Of
This act would receive no gold because, as bcl9te
stated no gold bullion could be delivered to the mint
What force going to nod up tie s ya fn1T Of p a
ducton at 20 per cent at least s9yG s tgr IKE
Young athlete proud Of his strength and Of The vast
resources with which nature hes so honntiiully en-
Of which today weighs over 100 100000 pounds, and
TO each one Of which is added every wear over
300 S v pound" Wdra an" n he in
the young giant will be overwhelmed me Iark Ht !,
spend his surplus energies in efforts vastly more
profitable (Applause)
Ex.sECRETARY FA1RCHILD.
Mr.. Fairclild was welcomed with great ap-
pause and MS speech was eloquently DELIVERED
calling out much applause. He said in part:
We believe first that free coinage Of silver by the
United states at this time, Without further cOOpera
a currency composed OF based upon silver alone
and that each dollar of that currency will be ihen
now nave is now worth We believe, secondly. that
this lowering OF the value Of each dollar of our cur
foreign countries and that it viii serious los,
to vast numbers of men and women in our state ana
city who can i'll afford to lose, and believe that IL
will benefit no either here elsewhere i'll TINS
country, save possibly those who may own go"
when free coinage may become lawful
| have no hard words for the advocates OF tne
proposed law. know thai the vast majority OF ih ni9
afdCi TN he
and / only wish that my reason would permit me 10
agree with them but it will not and therefore II Is
my duty in all fairness to say in very PLAIN words
what think claiming. at the same time, credit Tor me
same honesty and sincerity OF purpose winch We are
This meeting is nonparsan, although held under ier
a call nila cd by Tie Reform Club. but hope tiat
those present who hold in adherence the Reform Cub
and all of its works well as Democracy ana All OF
its works will not think me discourcous to them when
take this occasion 10 10 Tariff ReformeTs. Free
Traders and Democrats. in all parts OF the country
that Democrats who are here tonight are I HiiS
convinced that if the Democratic party In the Nation
itself responsible for free coinage of silver ana
the consequences thereof the last victory FOR many
economic theories which they maintain and for the
psry which they held dear eS ana to XSa y look o
If free coinage be well for any one III 1is Iaa o
1t will be injury to every one.
Trade will suffer- and every TRANSACTION VIII become
speculation IN silver but leave tat 70 . ,U no
my freeconage friend, TO one OF our great SaVlnss
banks on day when deposits are large marx inc
follow them home; you will find that most of them
90 into great high buildings where they live in two
three and four room apartments for which they pay
high rent, Of them are owners OF these houses
70 find thsm' bHt there NAV be mortgages upon them
held by the very savings bank from which We nave
come. consequently held jointly by the multitude Of
men and women whom you have seen. January l.
s55oO77 657 dne 10 APO 097 depOsltors of which
30777326s was in twenty-five savings banks in this
city; think of the numbers of people represented by
those depCsltors and interested in those deposits:
10 IN oIprp
OF the hundreds of thousands of comparatively poor
hundreds of millions of dollars, maintained pro
vision for helpless families by the payment through
Of NOW 3 me- TAKEN mT southern 1G
Western friend how any man or any political parry parry
can stand before d TINS t vas' he nr IL debeae or
heedlessly has been party to the enactment or a
Genoss and Insurance Remembering that we be,
ueve that such would be the case, DO you wonder tal
we are met here tonight to protest and plead in the
name Of justice, humanity and policy or that we ap.
peal the hearts OF our friends IN all parts OF mo
country as well as to their poicai sasacy ana to
The country passed through the election Of 1884
and was left for time with the uncertainty which
would naturally follow change OF governmental con
came the declaration from the elected President which
told the country OF conservatism OF intention, and LETT
ton then came the appointment and entrance 10
Office Of a Secretary of the Treasury who at once
dropping of our currency to the silver basis. which
seemed so imminent. lie stopped the call Of bond,
and allowed the surplus revenue TO accumulate III
the Treasury it accumulated in the form OF silver
thus the surplus revenue Vas used to buy the silver
business. This course prevented the whole OF
p I TTeauy g from losing its e SfE and ne
changeabty with gold the price paid by the country
which might have been cancelled had the surplus
been used for their purchase. Hard thin 6
have been said in political quarters because OF this
accumulation Of surplus. uniustly. however for am
sure that you will that the country saved
from great damage at comparatively small cost. Bur
relief measures did not stop here; livery effort wa>
made 10 find legitimate use for the silver dollar
Treasury they were not Iessued and the public was
Obliged to use silver dollars in their stead There
1855; in 1856 they had fallen 100000: in
1887 to 81 100000 now there are not $4,000 OoC
of them in existence Authority asked OF Congress
and given issue the silver certificates in dencmna
tons less than s. tins was before prohibited by law
its minimum, S94 100000, S16O,OOO,OOO in silver
certificates have been issued in denominsGns Of s.
been S6s 900 In the same time there have been
ZION " - had fallen on JonIaTy ~ last as stated
by the directors of the Mint 10 Sl20OO0OO thus the
Of silver and all Of it, 81 100000 in the form Of
certificates OF $40 and less. When confidence began
demand Ds for in August 1ssS the cali Of the
per cent bonds was resumed this led to rapid SUI
that time to November, 1880. amounted to 1922. 900
600. S7so0O,OO0 of which was in denominations OF
Thus it will be seen that our silver has gone to do
the work Of small change, Professor Tassig calls
it, but even in this form ii has only little more than
filled the vacuum caused by the retirement Of small
greenbacks and National bank notes.
i am here tonight because once held high Office
In which / Immediately preceded by good man
(applause and Immediately followed by another good
man (applause) both gone, and both owe their
death in small measure, as believe. 70 the eN-
cessve anxiety which they felt from the evils that
feared this issue might cause the country which
both loved so dearly and served so well. had none
o. little anxiety because the measures which my pre-
decessor took had made it certain before ] became
secretary of the Treasury that the dr>-od evils would
not occur until long after my responsibility had ceased
The strain upon Daniel Manning, however, was too
great. and he got his death blow In the Treasury IT.
self.
Many an unreasonable violent Democrat must take
TO himself share OF the blame for the untmely
fate which overlook him. The experiment OF silver
coinage was being tried in such way as would demon
strate how much of ii people would absorb and
and there is possible objection 70 the creation
Of much silver. either in dollars In half and
quarter dollars. in any other FORM as the people
win use be IL ever SO much so long as 1t is always