Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-12-17
DISTINGUISHED SPEAKERS.
EG-SeCretary Fairchill Discusses the
Questions Of the Day.
oun CURRENCY .sYsrEn.
No Power Ia tho Government %
Give Value to - vaiuciess
subSinncr.

BosroS, Dec. l6.--Tho annual din.
nor Of the Now England tariff reform
league was hold at the American
House this evening. President Henry
L.. Pierce was tho presiding officer.
The speakers were the Hon. Charles 3.
Fairchild, secretary OF tho treasury
under Cleveland, Hon. Harvey NJ.
Shepard, Josiah Quincy and William
Brice. Tho first speaker Of the oven.
Ing wos Fnifchild, who said In part:
"Those In favor OF tariff reform still
have n duty TO perform. My business
friends ask for stability In business,
but they have built up nm artificial
system whereby the business OF this
country II held up above natural con.
ditiOus. Instead OF seeking 20 do the
thing requisite to the maintenance Of
the system, they sought to divert the
minds Of the people In every possible
way from consideration of tile true
subject. They have formed the hnblt
Of contributing vast sums OF money
to buy elections. II In useless 10
deny that the Democrats were equally
tempts TO corrupt elections, but within
tho last few years business men have
contributed a part OF the gains which
came to them, Us II was supposed,
through the government for the hard Y
concealed purpose Of buying elections.
eve have before us very grave
question which Involves protectlOnlsm
and accommodation, and that Ia our
L. H..
belief that the government has uys-
ferrous power 10 infuso value into sub
stance otherwise valuelesa, and TO add
to the value Of that which IL already
substance by putting II In the form OF
n bank bill or coined money and call it
legal tender money. | don't think
there Is any power In the government
to give value to anything by adding n
legal tender quality TO II. During the
war In this country, with this same
1 volume OF grecDbaeks, the same vol
ume OF business and the came amount
OF antecedent debt which could be paid
with that money, IL would vary enorm.
ously between morning and afternoon.
The legal tender quality had not
varied, need for money had not varied,
the population had not varied, business
| hal not Vnfitu. Wnht Dhu VhrIeu was
the average belief OF the American
people ls TO the ultimate rcdoomRbility
OF the promise to pay. That was the
reason the money NO varied and the
legal tender quality had been utterly
powerlefs TO retain value In II. When
the United States Ia no longer able 10
fulfill the promise TO make good that
credit, then the money must stand on
It's foundation, and It's foundation
would be the value OF silver bullion In
the world. There Ia no more states
mnnship-theTe ~ no more sense In
depriving the American people OF one
OF the most useful devices OF modern
times, because someone may sometimes
lose by II, than there Is OF depriving
them OF other forms Of commercial
credit. In the face Of tho vast useful.
ness OF the good bank note, the circu-
lation OF which will piss from hand to
hand readily but is not legal tender, |
say 1t In utter imbecility for the Ameri-
eau people to lie down and say that
they cannot do that and that they
won't do it,"