The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-10-23
A Great Speech on the Finan-
ciaf Issues Of Today.
WILDCAT MONEY NOT WANTED.
Arrest of . Man at Albany, N. Y, Who
Registered Twenty-ene Times.
A High Authority Says Gen. siekles. .
Retired Army Onicer, II Not Eligible
as Congressman - Great Rally At

CHICAGO, Oct. c2-The largest Republican
meeting OF the campaign in THIS city was held
tonight at Central Music bali, attended by over
2,0Oo leading Repub ublicaus of eaieago and the
state of Illinois. Many huudreas were turned
away. The meeting was held under the au-
spices of the Republican bankers aud merchants
of this city. The chairman of me evening was
III. W. kinkad His brief srteesEi accepting the
gavel was the Key note of theeyNniug. He said
the business men OF the WeSt lad been struck
with dismay by the financial E1ank of the last
Democratic platform, which, pS demanding the
repeal OF the 10 per cent. tag on state bank
issues, proposed to return 70 the wild cat and
red dog currency OF thiry gears ago that
wrecked the finances OF the nati7n.
He introduced Senator John Sherman. who
spoke at great length on questions of national
currency, silver, tariff and reciprocity. He said
that the national bank system hali been SO sue
cessful that no man lives who ever lost a single
dollar by national bank note. He coptrasted
this with statement of the con 3itions existing
before the war. saying:
They tell US that they want moro money.
Suppose the government oi the United States
should issue 500 0o0,0o0 OF notes, who would
they pay those notes 10? How csn any of you
get any OF that money unless yots do something
or sell something to the goyernn1ent? Unless
you some work or perform soEIe labor? The
poor man who needs moro money would not
get his share but the peOp.o who hold
the government bonds, the government con.
actors, etc, would get The ineIesEei value. In
former times the greatest circulation of bank
notss at one time about s. 0,{3s0,a00 or $780,
Co0,0v0 aud yet today there is Si.iS2,o o00,Uoo OF
paper money in circul alton. Ons would think
that it was enough. It is more than ever ex.
listed before i'll the history ot the country.
and when We remember that IS per cent and
i'll the city OF Chicago "a per cent OF all pay
meuts are made iii checks and ether CONNER
cial piper, il shows that that money is only
used in the ordinary way by paopsa for MARKET
ing aad the smaller transactions IN life. Let
banks break. Who cares? The money is good
tecause the security is in the hands
CT the government Every dollar Of this money
is saie and now this Democratic party, which
for orty years mas done nothing tat oppose the
sction OF the Republican party, demands
the restoration OF bad money. / aat is the con.
diIion before us. Mr. Springer, OF Illinois, says
the reason they put this little plank in the
Democratic platform was that come of the
brethren in the South wanted Chance to issue
paper money OF their OWE. In other
wosds,s Southern demand is made and the DEM
ocratic party knuckles down ct U;lce anu cries,
''Ies" Mr.. Springer don't exactly believe in
wildcat money himself. He don't see how il
will circulate unless supported in some way. He
would make somo provision in congress, but
congress has no. power TO change ahe laws of a
state. Mr.. Springer iarthsr said il issome-
times said that we must provide Other forms Of
banking, because national banks gill go out of
existence sometime Tha, may b, Ia the national
debt is paid Oft, bank can he f,rganl zed ex.
cent upon a deposit OF United states bonds
Some other form OF security NAV be devised, but
IL Is uiHlcuit now 10 pass upon that question. I
do not think the people or the United States
will ever consent &c accept any security from
any form OF bank except that security which 10
highest in our land-the security OF 5000 600
OF the freest people God ever mais. (Great ap-
plause.
The senator also referred to the silver oues-
tion. saying:
Four thousand million dollars worth of sil.
yer is now in sight and 1885. .00G 900 more per
year is being produced, and yet ths wild, crazy
proposition is made that the people OF the
United states enter the market ana paw 81 for
every 67 cents worth OF ali the silver
that may be imported or thrown isto the conn
try The inevitable eifecs will be- to at once
deInonetize gold and reduce us u single silver
standard that will result in debts cut of one
third Nothing that has been proposed has
struck me so hard and severe rs tfis most in.
fernal proposition 10 open doors to the
free purchase OF silver. The silver sinners have
no right TO demand of us or ATTEMPT Ia
force the government to purchase their
articles at a price i'll advance of what
1t Is worth in the open marset II the
international monetary conference fails to find
solution OF the vexed question the business
men Will either have 10 stand u4on single
standard and Danish our gold TO iofaign lands
or put enough silver into the silver dollar ia
make IL equal in value to the gold dollar.
The senator also spoke at some length on the
tariff and reciprocity questions. Postmaster
General Wanamaker and Secretary Noble also
| spoke briefly. 1t was after mIduigot when the
meeting was closed.