The Portland daily press., 1891-10-15
Enthusiastically Received by a Great
Meeting Of Republicans.
Wisdom Of The Silver Legislation o.
the Last Congress.
The Tariff and Other Points Of an
Able Argument.

Cnarles III. Allen, candidate for governor,
made the first speech since his recent illness.
Hon. Henry Cabot Lodge spoke in his usual
aggressive style. Assistant Secretary of the
Navy Soley compared the Republican and
Democratic administrations with especial
reference to the Navy Department, showing
the work accomplished under the present
administration. He referred to the system
inaugurated by Secretary Tracy to divorce
the navy yards from politics. which had so
far, proved successful. He defended the
policy Of building up our navy, intimating
that there would come time when the coun.
try would not condemn the administration
which gave 1t its first full-sized battle-shIp.
Hon. Thomas B. Reed was then presented
and most enthusiastically received. He
spoke follows:
Ladies and Gentlemen:
The State of Massachusetts has hitherto
always been among the foremost of the
states. Not even the broad extension Of
western prosperity has heretofore been able
to relegate her to the rear. She has owed
her position not more to the great names Of
statesmen and orators than TO her success In
every field of endeavor. 1t has been thought
even recently that she was rich in manufac-
lures, rich In farm products, and that heI
sons had not degenerated either in the forum
or In the halls Of legislation. But protection
and the Mckinley Bill have shifted the
whole scene, and where prosperity once held
high revelry Desolation sits mournfnlly
camped about the State House and the Com
mon.
AS on my journey from Maine, which am
glad to say net even the demon Of protection
has thus far been able to ruin, beheld your
deserted farms and your dwindling cities,
and today, as l gaze upon the deserted
streets of Boston, and now as L look upon
this empty hall with here and there strag-
Cling listener, / realized and do realize how
near we are to that bright dream of the Dem
ocratic orator who Is never so happy as when
be thinks Massachusetts Is about to be a
desert and Boston a modern Tadmor in the
wilderness.
But be OF good cheer my brethren. While
Massachusetts, Is undoubtedly on the road to
ruin 1t is only In Democratic Grafton. On
the face of the earth and as geographical
division Massachusetts still stands In the
front rank, rich and prosperous. But, II
Massachusetts means TO be In the future
what she Is now, she must stand by the
principles which have made her prosperous,
and alone can keep her so.
1t results from the very fact of the proml-
nence of Massachusetts, In the Union that
those of us who live outside are as deeply in
tereSted as you are In the outcome OF your
election. That outcome cannot escape a
national Significance. Both sides understand
this and both sides discuss national topics.
l am here tonight not for the purpose OF
talking about local issues but to present
views on few and only a few national ques-
tions.
In the first place, let me say, that 1t ought
to be the subject OF unfeigned rejoicing tnai
the Massachusetts, and New York Democra
ey have detached themselves from theil
Southern leaders and have come out agairs
the free coinage Of silver. They are a little
late to be sure and tritle exuberant. but II
is great thing TO have Democrat pointed
right so early after the event. 1t is more
useful to have the needle point to the pole
while the ship is yet at sea, but it Is grateful
to have magnetic principles recognized even
in port. The battle for free coinage of silver
was fought in the House of Representatives
OF the fifty-first Congress, and it was there
decided that free coinage should not be the
law. 1t was fierce and bitter fight, with the
Democratic leaders shouting for free silver
at the top of their lungs.
In all the preliminary struggle, the eastern
Democracy voted against us and 1t was not
until they heard from their constituents and
not until we won the Victory without them
that we got their votes. Unquestionably
they were with us in spirit but they were by
no means obtrusive. When l think how
cheering, during that long fight, would have
been few auti-silver discourses by Messrs.
Flower. O'Neil and the rest, / cannot help
also thinking that the present halcyon and
voclfer0us performances are badly mis-
PLACED. The best time for aggressive action
is in the fight, not after 1t is over. But these
gentlemen are not content with their noisy
devotion. They even criticize us who won
the fight. Therefore / think there ought to
be full discussion Of what we did with the
silver question 10 the 51st Congress. A cor
rect knowledge Of the past is very useful for
the future. But the very first thing we need
to do in discussing 1t Is to lay aside local
prejudice. We must remember that the
places we live in are not the whole world
No man has any more respect for Wall street
and the money center Of the United than
have. No man thinks more of State street.
But New York and Boston are not the whole
United States. What they deem best may
be the wisest but may not be the practical.
Every law that Is made must suit the whole
country and be the best for the whole
country. Some account has got to be taken
even of adverse opinions that are wrong, IL
enough people believe In them. OF course it
ought to be the highest craftsmanship to ac-
complish ideal perfection. But II you cann0t
accomplish your ideal and something must
be done the highest craftsmanship Is to do
the best you can.
When the 51st Congress convened there
was loud clamor all over the country for
more money. 1t was as prevalent In Wall
street as in the mountains of Montana.
There was some reason for the clamor.
Since 1882 the bank note circulation had de-
creased fro 1853 millions to 1856. 173 mil
lions had been withdrawn from the monetary
circulation of a growing thriving people
whose enterprises were every day becoming
more vast and whose requirements were
every day becoming larger and larger.
While the increase OF circulation from silver
had furnished during the same period
263 millions there had been only 90
millions of net addition TO our cir
culatioD. Yet cur population had in
creased more than ten millions and instead
Of gain OF 80 millions we ought to have had
an increase of at least 275. 1900 to have our
circulation keep pace with the growth even
of our population. These are not specula-
tive figures but the actual figures; for In ad-
dition to our 90 millions Of excess of silver
over the loss Of bank notes we did actually
between 1882 and 1890 buy. and add to our
circulation nearly 1S9 millions OF gold in
competition with the rest Of the world.
The first experiment which was tried was
bill to Increase the currency by allowing
banks TO issue notes TO the full value OF
theii bonds, one hundred per cent instead
OF so and so. III you could have seen the re-
ceptlon that bill met with ON both sides OF
the House, you would not wonder that II
never got taken up second time. The truth
was that the public mind had had great
change on the silver question. So diligent
had been the silver propaganda and SO little
had the Eastern Democratic sentiment
Tree silver coinage was very near accom-
plishment. A great many things contributed
TO this result. The Southern and Western
Democracy were all for 1t. Look at page
65O3 Record of 1890 and see the votel. All
the Farmers Alliances of both regions had
been indoctI mated with 1t. Then the
prophesies we had INDUCED in as to our I'M
mediate ruin from two million month o.
silver coinage has proved so false that we
had evidently been mistaken. When Mr..
Cleveland wrote his letter to Warner regard
ing the stoppage Of silver coinage no less
shrewd person than the late s. j. Tilden Is
reported to have bought 100000, or $780, ,0O0
worth OF exchange, because gold was going
70 premium. Under the same fright the
Democratic Treasurer, Mr.. Conrad Jordan.
accumulated in the Treasury more than
seventy millions of dollars, most of which be
left on deposit without interest in National
Banks, those institutions of tyrany which
only year before no good Democrat could
meutlon without expressions of hatred and
contempt; all this accumulation had no OH
CT purpose than TO make strong the Treasury
against a rush for gold which dld not happen
then, and has never happened since. 0n the
contrary from the time when Mr.. Tilden
thought gold would 60 TO premium until
1870 we had added to our stock of gold not
less than 100 millions, and that not withstand
ing, during the same period, more than ITO
millions oil silver dollars had left the mint.
lnlloo2, the year when the National Bank
currency began to decrease, we had 1,sl5
millions of Qir0nlaAton In 1000 MA had