Los Angeles herald., 1892-10-23
ECHOES OF THE CAMPAIGN,
A Big Republican Rally in
Chicago.
John Sherman Airs His Views
49, on Finance.
He Tries to Refute Congressman
Springer's Argument.
Republican Whoop-ups at Bloomington,
ILL.,, and Davenport, Iowa.
Tom Reed Speaks at
Albany, N. Y.

By the Associated Press
CHICAGO, Oct. 22.-The largest Repub.
lican meeting of the campaign in this
city was held tonight in Central Music
hall, and was attended by over 1000 of
the leading Republicans of Chicago end
the state of Illinois. Many hundreds
were turned away. The meeting was
held under the auspices of the Repub-
lican bankers and merchants OF the city.
The chairman of the evening was Henry
w. King, and his brief speech accepting
the gavel was the keynote of the eve-
ming. He said the business men of the
west had been struck with dismay at
the financial plank of the last Demo
cratic platform, which by demanding
the repeal of the 10 per cent federal tax
on state bank issues, proposed return
to the wildcat and .red-dog currency of
30 years ago, that wrecked the finances
of the nation.
King introduced Senator John Sher-
man, who spoke at great length on the
questions of national currency, silver,
tariff and reciprocity. He said in part
that the national bank system had been
30 successful that no man lives who ever
lost single dollar by national bank
note.
"They tell u.s." said Sherman, "that
they want more money. Suppose the
government of the United States should
issue 500, 600 600 worth of notes. Who
would they pay those notes tol How
can any OF you get any of that mone7
unless you do something or sell some
thing 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 government bonds, government
contractors, ETC., would get an increased
value. In former times the greatest cir
culation of bank notes at one time was
about 5000, 900, 900 or $500 600 600, and
yet today there is 81 ,132, ,OOO, 900 of paper
money In active circulation. One would
think that was enough. 1t ia more than
ever existed before in the hiptory of the
country, and when we remember hat
50 per cent, and in the city of Chicago
81 per cent of all payments are made
in cheeks and other commercial
paper, it shows that that money is only
used in an ordinary way by the people
for marketing and the smaller transac-
tions of life. Let banks break; who
cares? The money is good because se-
curity is in the hands of the government.
Every dollar of THE money is safe. And
now this Democratic party, which for
80 years has done nothing but oppose
the action of the Republican party,
comes in and demands the restoration
of bad money. That is the condi-
tion before US. Mr.. Springer, of
Illinois, says the reason they
put this little plank in the
Democratic. platform was because
some of their brethren in the south
wanted chance to issue paper money
of their own. In other words, the de-
mand is made, and the Democratic party
knuckles down at once and cries: Yes,
yes.' Mr.. Springer does not exactly
believe in wildcat money himself. He
does not see how it will circulate, un-
less supported in some way. He would
make some provision in congress, but
congress has no power to change the
LAWS of state. Mr.. Springer further
said it ls sometimes said we must pro-
vide other forms of banking, because
the national banks will go out of exist
ence some time. That may be. As the
national debt is paid off. as no bank can
be organized except upon deposit of
United States bonds, some other form of
security may be devised, but it is difficult
now TO pass upon that question. don't
think the people of the United States
will ever consent to accept any security
from any form Of bank, except the secu-
rity which is the highest in land-the
security of $4,000 600 of the freest peo-
pie God ever made" Great applause. /
The senator also referred to the silver
question, saying: -Four thousand mil
lion dollars worth of silver is now in
sight. and $185 600, 900 more per year is
being produced, and yet the wild, crazy
proposition is made that the United
States shall enter the market and
pay 81 for every 81 cents worth of silver
that may be imported or thrown into
the country. The inevitable effect will
be at once to demonetize gold, and re-
duce us to single silver standard"
Nothing proposed struck him go hard
and severe as this most internal PROPOSE
tion to open our doors to the free pur.
chase of silver. 'The silver miners have
no right to demand Of US or attempt to
force the government to purchase their
article at price in advance of what ii
is worth in the open market"
The senator said il the international
monetary conference fails to find solu
tion of the vexed question, the business
men will have either to stand upon q
silver standard and Danish our gold to
foreign lands, or put enough silver in
the silver dollar to make it equal in
value to the gold dollar.
The senator also spoke at some length
on the tariff and reciprocity questions.
| Postmastar-G General Wanamaker and
Secretary Noble also spoke briefly. II
was after midnight when the meeting
closed.
Sickles Ineligible to Congvess.
WASHINGTON, Oct. % Henry h.
Smith. an authority on matters of par
liamentary law, made an examination
of the laws and proceedings of congress
relating to the question of the eligibility
! to congress CT retired army officers, and
as the result concluded that General
Sickles, while on the retired list of the
army, is ineligible to election to con-
gress.
Tom Reed Speaks At Albany.
ALBANY N. r., Oct. %. Hon. Thos
b. Read If Mama add raaaad n ReDubli.