The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-10-23
ENEMY OF SILVER.
Senator Sherman Delivers an
Address in Chicago,
The National Banking System Enlogised
Also The Tariff and Reciprocity
Silver Denounced.

CHICAGO, OCT. 22.-Vne largest RepuDu-
can meeting Of the campaign in this city
was held tonight in central music hall and
attended by over 1000 leading Republicans
of Chicago and the state of Illinois. Many
hundreds were turned away. The meet
ing was held under the auspices of the Re-
publican bankers and merchants of the
city. The chairman of the evening was
Henry w. King, and his brief speech. ac-
cepting the gavel, was the keynote Of the
evening. He ssid
The business men Of the west have
been struck with dismay at the financial
plank of the last Democratic platform
which, by demanding a repeal of the 10
per cent federal tax on state bank issues,
proposed to return to the wildcat and red
dog currency of thirty years ago that
wrecked the finances OF the nation. He
introduced Senator John Sherman, who
spoke at great length on the questions of
national currency, silver and reciprocity.
He said, in part:
That the national bank system had been
so successful that no man lives who ever lost
O single dollar by national bank note. He
contrasted this with the statement of con-
ditions existing before the war. s'They
tell u.s." said he, 'sthey want more money.
Soppose the government of the United
States should issue 100, 100000 of notes,
who would they pay those notes toa How
can any OF you get any of that money I'M
less you do something or sell something to
the government, unless you do some work
or perform some labor? The poor man,
who needs more money, would not get his
share, but the people who hold govern
ment bonds, government contracts, etc.,
would get an increased value"
in former times the greatest circulation
of bank notes st any one time was about
two or three hundred million dollars and
yet today, there's one billion, one hundred
and thirty-two millions OF dollars In paper
money in active circulation. One would
think that was enough-lt Ia more than
ever existed before in the history of the
country-and when we remember that
ninety FIVE per cent. and in the city of
Chicago, 97 per cent. of all payments are
made in checks and other commercial
paper, it shows that that money is only
used in an ordinary way by people for
marketing and the smaller transactions in
liteu
Let the banks break, who caresl Money
is good because security is in the hands of
the government. Every dollar of this
money is SAFE and now this Democratic
party, which, for thirty years, has done
nothing but oppose the action of the Re-
publican party, comes in and demands the
restoration of bad money. That is the con-
dition before us.''
sMr. Springer of Illinois says the reason
they put this little plank in the platform
was that some of their brethren in the
south wanted chance TO issue paper
money of their own, in other words, south :
ern demand is made and the Democratic
party knuckles down at once and cries,
Yes, yes. Mr.. Springer don't exactly
believe in wildcat money himself. He
don't se6 how it will circulate unless sup
ported in some way. He would make some
provision in Congress, but Congress has
no power to change the laws Of q state"
.Mr. Springer further said it is sometimes
said we must provide other forms OF bank
ing because national banks will go out Of
existence sometime. L hat may be- as the
national debt is paid off as no bank can be
organized except on a deposit in United
States bonds. Some other form of security
msy be devised, but 1t is difficult now 10
pass upon that question. I do not think
me people of the United States will ever
consent to accept any security from any
form of bank, except the security which is
the highest in our land, the security OF
sixty-tive millions of tho freest people Coo
ever made. Great applause.
The senator also referred .the silver
question saying ''four thousand million
dollars worth OF silver were now in sight
and slS5, 100000 more per year was being
produced.
A dealer in cheap shoes recently coun-
seled in one OF his advertisements: Ladies
wishing these cheap shoes will do well u
49,. - 1