The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-11-22

| .Vt.AhtA Nhlues OUT 00lolY hnenuna tn
bullion contained IN them. II uneoined, woui,
Hs T Sqss, e .r ths same amount Th
one thpS ssnno So .snn6 but
which the government can do Tor the estNb
stable sSrrsney II tks Exercise Fl Of RsP con sp
tptionsl authority. 70 coin money and rseulat,
coinage, Of either metal VIII enever it is ascer
tanned that the coins Of the two metals, OF the
Change tSsr esa rao so as e.
hem as nearly equal In value as possible; oil
ne fSH MAINTAIN The parity Of ts coins by re-
10 payment Of all public .dues and discharge
all It's own OBLIGATIONS 10 whatever kind o.
said that nothing shall circulate or be .recog.
per issued against gold nor that the sO prices Of
commodities ought to be. or will be. fixed upon
the world but It does follow that no part Of
our Currency whether IL be silver or paper.
iSSud the ESTABLISHED S5%bf.2Sd to and SSrpS be-
stsnidIard. Any financial policy which
n would encourage or permit such deprecation
depreciation. would unsettle values, paralyze
6usipess aITest the growth and expan lon OF
universal bankruptcy and ruin upon tho
country II must be remembered. however.
ietive department to establish the e policy Of
in me Government upon this and all other sub
necessary authority and means to csr w Il on ne
| When the authority and means are granted.
me executive department Ia responsible for
the manner In which the law is executed, but
beyond this It has no power to act. and, conse-
auently no duty TO perform.
cations OF the United States will be paid In
SSoln current In all the markets In, the world
opinion. been settled fdr ali time to come. Il
has been settled, not by any specific act OF
congress cong pressrthing the exact mode OF pay;
me whole body OF existing legislation upon
the subject. and by the deliberate Judgment
pose Of those who have cen lntrusted with the
EXECUTION OF the laws The disposition and
credit at the highest possible standard. and 10
preserve the integrity OF all the forms OF cur
Te n IN circn.ation among the ne9ple. cannot
subjects OF serious controversy hereafter. iAD-
This docs not imply that silver is to have
no place In our monetary system. What is to
be the ultimate fate OF that IN etal lie one OF the
solve but for many years. outstanding
all our Legislation In Its support, the fiuctua-
great the Fact thn Ptq S sann S
De safely coined without Limitations into
money Of final redemption at the existing
ratio or at any other ratio that might be estab-
lished Ii Is not possible. under existing cir
cumstances. for any one Government 70 es-
tnblish and maintain stable relation between
the two metals. and for this reason alone. IL
there were no others. we are bound to place
some reasonable limitations upon the coinage
and use Of silver. How much OF 1t can DO
safely coined. aud upon what conditions It can
viii be wide, differences Of opinion but after
all that can be said on both sides they will be
finally determined by circumstances which
cannot now he foreseen. and by the natural In
growth o. our ndustries ami p trad" rad ai Il Is
on hard stock Of silver t coined I'd and T Gncoped
sufficient to meet all the probable require
ments OF the country for many years to come.
"b"pr the greatest silyer-producing coun-
try In the world and having on hand q large
amount OF silver coin and bullion. the United
States cannot he otherwise than deeply inter-
ested In any measure designed to enhance its
maintain it's unlimited coinage as full legal
other great nations OF the earth: and the
country Is to he congratulated upon the fact
sltion which enables us TO preserve our own
monetary system intact and exercise potent
influence IN any movement that may be here.
after made Tor the permanent adjustment OF
thls very important and difficult question.
:" It is great mistake to suppose that the
subject were animated by any feeling Of hos
tillty to the continued use OF silver as money
the stability OF our currency and the praserva-
ton OF the public faith. The wseat and safest |
"ts ssSs
its continuous accumulation in the form OF |
bullion IN the vaults Of the Treasury and the
experimental law which from the time OF its |
enactment was a constant menace to the well
In eoScusiop, Mr., President, hermit me to
thank you and the Chamber Of Commerce Of
opportunity to meet SO many of tho leading
business men Of this great business city.
ence more than l25 years. and has passed
through many trials and vlcisstudes it is but
simple Justice 10 say that Its counsel has
action patriotic and beneficial All that is
needed now to insure the early In
psrity is such action upon the part Of this and
similar organizations throughout the country
OF enterprise among the people Now that our
credit has been greatly strengthened and our
portunitv is Afforded those who control our
and industrial interests to resume
operations under more favorable conditions
sure you will cheerfully cooperate in any effort
they may make in that direction" lApplause.l
Once. when he said 40 establish two stand
ards Of money would be like establishing two
Kinds Of yard sticks and two kinds OF gallons"
here was a yell OF appreciation. When he had
inished three cheers were proposed and
SPEECH OF ST. CLAIR M'KELwAY
st. Clair McKelway then spoke about
municipal government Among other things
-; %i" %
sR s1st ID m UTE 10. "Hsy
he election was expected by some process OF moral
Z crime. This il neither a sarcastic nor eNAE.
Grated abatement Il was the case for years in New
OTk State.
II you want reform you get IL. and n you do
ot want II. Why then get along without IT, wallow in
our shame. but do no. invite the Tree ctiZenS OF
N Ated municipality TO come over the river and
AK TO about duties you neglect aud opportunities
Ebich you throw away.
SPEECH OF THE REV. DR.. PATTON.
The next speaker was the Rev. DIR. Patton,
resident ~ Princeton College who responded
o the toast, Enlightened pu bile opinion: the
safeguard Of government by the
eOple." lie said among other things:
We are all business men. and We are all legislators
hon time OF financial stTngency arises no man IL
DO rich and Is too 10 feel Il Ia spite
differences IN nOlttcs and religion We at down here
might under the practical and unanimous conviction
hat somehow other the dollar Whatever metal IL
made lies a. the bottom Of great deal OF earth
comfort. Applause
IL wo IiG help matters a great deal II the poor
ould understand that he, too Is capitalist, or he
iGy De A1d that he needs ths protection OF the Gov
rnmen as much Tor ~ mite a. his uelghbor does for
u mil ons 10 would be greA step IN the formation
healthy pubic opinion Il u were more
entraly Understood that lust there can
no rover hout motion. anu motion ,
here all 10 the dead luvrl, n i
ecessary TIA &c shall be the disttnrtons be WsSn
rich Agd the poor aud that o. a. der get tie
Uf T. "a al