The record-union., 1891-10-23
Special to tho REconn.uN1ox.

Special 10 the RECoRD-UNIoS.
FINDLAy (O.). Oct. 22.-Secretary of the
Treasury Foster made his first speech for
the Republicans IL the Ohio campaign at
the Wigwam in this city tonight. About
SIX thousand people listened to the
speech, and frequently interrupted the
secretary with vocitcrous cheering. The
Secretary devoted some time to Demo-
cratic gerrymanders in various States,
ana particularly their scheme newly in
troduced in Michigan to elect Prcsiden-
tlaI Electors by Congressional districts. If
successful in Iowa, Ohio and New York
this fall, they will introduce the same
plan in these States: thus, although those
states give Republican maiorities, two
thirds of the Electors would be Demo-
Gratis. Thus the Solid south and Tam
many Hall, although largely in the mi
nority, would rule the country under
these forms of law. How long could free
institutions endure this.
The Secretary devoted much attention
TO the dangers of free and unlimited COIN
age OF silver. His Investigations lead
hlm TO believe that there is in Eu-
ropean countries more than 100000, 900 of
silver, to say nothing of the boards in
Mexico and South America that would
come to this country the moment we arc
ready to pay 81 20 per ounce for it. We
could not maintain ourselves against
such an enormous strain, and would soon
be placed by the side of Mexico anC, the
Aslatlc countries, with a currency fluctu-
ating IN yaluc and with an ever increas-
ing downward tendency. Let ne one de-
! l,yf calf l., ~.
would not deluge us with silver.
The Secretary said the Republican
party had, in his opinion, gone as far as
prudence will permit in the matter OF
silver legislation. He has made in quiet
way i careful investigation of the feeling
OF foreign countries upon the subject OF
an international agreement between them
and our country by which gold and silver,
upon some acceptable basis, can be MAIN
tanned at parity. Il have but little hest
fancy in saying" he added, that but for
feeling existing abroad public senti-
ment in this country is such as To compel
at least the better use Of silver, if not
complete international agreement. The
success of the Democratic party in Ohio
this fall means that unlimited free coin
age will be the platform of that party in
lS92, and Democratic success in the nation
means that this country must go on a
silver basis.
Let us continue to pursue the Repub-
lican policy of conservatism. Let us
convince Europe that we are not going
on silver standard. My word for it,
whenever Europe is convinced that we
Will not adopt q policy of free and un-
limited coinage-Or, in other words, that
we will not place ourselves upon silver
baSis-we Will 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 the parity of the two
metals upon an agreed rate may be main
tained."
Secretary Foster dwelt at length on the
Mckinley law, citing statistics to refute
Democratic assertions, etc. He asserted
that the first five years of the Mckinley
law Will show an increase of more than
Sl0,000,0O0 paid in wages to our people,
with corresponding home market for
the produce of our farmers. He also
warmly eulogiZed the reciprocity policy.
Turning to the condition of the Treas
ury, the Secretary spoke of the stories of
"crltlcS" on the other side during the
past year; about their assertions that va
rious payments could not be met; how
the converting of bonds was sign Of
bankruptcy, etc, and how their asser-
uons had been refuted. by the con-
version of the bonds," said he, 1--WE have
illustrated that this country enjoys the
highest credit of any nation on the earth.
millions of national bauk notes, in fact,
added nearly five millions of these notes
to the currency. We have taken, and
will take, So, ,0U0 600 of money out of the
Treasury to pay non-eXtended bonds
which, added to about S270, 0,000, 900 paid
out for bonds by my predecessor, MIR.
Window, makes the enormous total Of
about $3.50, 100000 paid out of the Treas
ury in cash since the administration of
President Harrison began.
with this money there will be can
celled over S259, 9,000, 900 of bonded debt,
and, notwithstanding all this, we shall
have left a sufficient sum to disarm all
fear of an empty treasury. 1t has been
falsely charged that the Secretary in
.structed his subordinates TO delay settle
ments, and in every conceivable manner
avoid the payment of money out of the
treasury, so anxious are they to convince
the country of the extravaganza of the
'billion-dollar Congress- No such order
was given, and my subOrdinateS will so
testify. By attention to the needs of the
country, we have also been able to furn-
ish the West and South with small bills
at cheap rates, to the full oxtent of their
wants, and in quantity perhaps double
the amount ever before sent"
The Secretary spoke of the unique
system of bookkeeping" made use of by
the Democrats when they had control of
the treasury, by which the treasury was
shown to possess q much less sum of
money than it had. This method was
changed to system that is perfectly fair
and Ineligible, yet the critics charge me
with the Juggling of figures. If the
Democrats could convince the people that
they are on the verge of bankruptcy
that new industries, like tin-plate, cannot
be made a success of in this country, and
that the treasury is bankrupt they would
be in u heaven of delight. The Republi-
can party breaches the doctrine of hope
and not Of calamity and despair 1t does
not delight in the unpatriotic occupation
of falsifying facts in regard to the finan-
cial condition of the treasury
In conclusion, Secretary Foster eulo-
gized the administration of President
Harrison, and expressed confidence III
the election of Major Mckinley.