Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-10-23
SHERMAN AND REED
Address Immense Audiences,
One in Chicago, the
Other in Albany.
THE ISSUES OF THE DAY
Discussed at Length by 0hio's Sena-
tor, Who Dwells on Finance.
REED ON THEBENEEITS OF TARIFF.
The Fifty-First Congress Defended and Its
Work Pointed to as
THE ISSUES OF THE DAY
REED ON THEBENEFITS OF TARIFF.
A SAMPLE OF REPUBLICAN POLICY

CHICAGO, Oct 22-The largest Re-
publican meeting of the campaign in this city
was held tonight in the Central Music Hall,
and was attended by over 9, 600 of the lead
ing Republicans of Chicago and the State of
Illinois. The meeting was held under the
auspices of the Republican bankers and
merchants OF the city, and as the limited
capacity of the building required that ad-
mission be strictly limited to ticket-holders,
thousands of disappointed Republicans were
turned from the door.
Senator John Sherman, of Ohio, was
the principal speaker of the evening.
The Chairman was Henry W. King, and
his brief speech on accepting the gavel was
the keynote of the meeting. Mr.. King said
that the business men of the West had been
struck with dIsmay at plank adopted BY
the recent National Convention as por-
tion.of the Democratic National platform.
That plank, by demanding the repeal of the
10 per cent Federal tax on State bank issue,
proposed a return to the wildcat and red
dog currency of so years ago that wrecked
The finances OF the nation. Upon the ques-
ton of currency and finance, upon the i'm
pending danger of the hour, there was one
man pre-emInently qualified to speak
lion. John Sherman, of Ohio, the great
hnanoier of the nation.
Great Applause for the Speaker.
Tremendous applause greeted Senator
Sherman as he stepped to the front, and it
was over a minute before the demonstration
Of enthusiasm subsided sufficiently to en-
able him to SPEAK. At frequent intervals
in the course of his speech he was inter-
rupted by tumultuous applause, the climax
Of enthusiasm being reached when he men,
TONED the name of Lincoln and of other
great leaders of the past. Senator Sherman
said in part:
Zone of the issues between these two
rartieS which has already been named by
YOUR Chairman is whether the people of the
United States are willing to abandon the
national currency which has been estab
l>hed by the Republican party in the form
o.; United States notes and Treasury notes
and silver certificates and gold certificates,
all of equal value not only in the United
states, but all over the civilized world
whether he will abandon this form of cur
rency and revive again the old currency of
our fathers. the red dog shin
plasters of 30 or 40 years ago
Another of the questions is whether
We will authorize any holder of 371L
grains of silver, worth in the market about
80 cents, to go to the Treasury of the United
States, or to the mint, and there demand a
iollar, or if we cannot coin the dollar fast
sHough, to demand your note-the note of the
oeople of the United States-for 81, when
he purchasing power of the silver in that
Jollar is but 65 cents; or whether, on the
other hand, we will buy that silver at its
..arket price, coin it as needed by the peo-
,,le of the United States, and maintain it at
3c standard of gold in all the markets of
lie world. Applause
A Word or Two on the Tariff.
Another question that is also to your in
terest is whether, in levying duties on i'm
ported goods from which we derive the
chief source of our revenue, we should be
guided alone by the mere attaining of reve-
nue for the support of the Government, or
whether, in addition to that, we should
seek to diversity, increase, magnify and i'm
prove the industries of onr country and to pro-
tect the wealth of our people against undue
competition abroad. [Applause.
''NOw, my countrymen, these questions
are to be submitted to you. Take
the first question. The question is
presented by the Democratic platform re-
ferred to by your honored chairman. 1t is
contained in two lines: We recommend
:ha: the prohibitory 10 per cent tax ON State
circulation be repealed. Well, now, in
the first outlook of that simple resolution it
would seem tax of 10 per cent on any kind
of circulation would be very heavy tax,
md the plain farmer would say: why,
that is too much taxes. Why not per
cent, or one per cent? The answer is, nv
,ountrvmen; that the tax was levied in the
midst OF war in order to drive out of exist
nee and cut the throat of this whole sys-
en- OF State bank paper money which had
Uined the country over and over and in
olved it in trouble. [Applause.l
Against the Constitution.
"Why, my countrymen, under the Con-
titution OF the United States, States are
prohibited from emitting bills of credit
md bills of credit are supposed to be in the
orm of money TO be circulated as money
Z torbids, also, that they shall make any
hing but gold and silver legal tender in
lavment OF debts. The fathers who formed
hat provision believed they had cut out
his whole system of local paper by the
cots. They declared that no State
pr PAPER money, for that was the meaning
f it. But it was said that the States might
uthorize corporations to do it, Why, the
rdinary logic of plain man, without re-
orting to lawyers at all, would convince
nyone that if State could not do it, it
ould not authorize the people of that State
0 do il. Therefore it was believed that
here could be no State bank paper money.
The Constitution of the United States
rovides that Congress may coin money and
sgulate its value; that Congress may borrow
.oney, and as incident to that, may issue
Ills of credit; and finally, it may make
lem a legal tender for the payment of
ebts Now, my countrymen, on account
the neglect of Congress to perform this
lme duty, we had in the 2S States that ex-
ted before the war various forms of paper
.oney. No man living except those who
we'd at that time can conceive of the con-
ition of our paper money then. There
SIS not bank west of the city of New
ork hut whose notes were at discount at
tat metropolis"