The Portland daily press., 1893-09-22

There is our own TReed, whom YOU
all know and admirehether YOU vote
that way or not), whrecent speech on
this theme may yet n him Presidents:
and grand old JobSherman, whose
name. aueerly enoul has lately been
used as if be was ything but the
} sound. solid. @level-ked financjer and
statesman that eyeDdy.lsnows he.is,
and brilliant Bourkechran, who cries
out. "In the name ofod and common
sense. give the farl a full ounce of
silver when he is enta to it, and don't
deprive him of anoart of the silver
which is the full uivalent of his
produce! give him grains, not 376,
FOR his .doflar!" This Voorhees,, the
tall sycamore Of th'abash," in whom
good sense and rlorism struggle
valiantly with partiship-and score
of others. Who whe
| doris disagree,
Who's to decide you or me!"
But I digress. Wbver the producing
| cause of this cure famine, nspecula-
| tors, the curse of anind, and all kinds
| of business, saw aneiZed their oppor-
tunity. When andssyle they could they
depleted the bankofeir currency, and
| boarded it that theyight bleed those
| corporations and lividuals needing
actual cash, and the time at their
| mercy.
Large premiums W even demanded
| and obtained by thosho had thus made
merchandise of ney. In my own
knowledge as much four per cent. was
| paid on large amoU brought into the
State, to be expendin labor. Proba-
| bly, cur friends in Liston, Skowhegan
and Waterville mahave had similar
experience. The towing view OF the
| recent situation inQtes the extent OF
his abnormal busins and gives graft
been III some regis too popular to-
malign, stood by e business men OF
the country, and a4st their enemies:
"The whole amor of the profits OF
the dealers in curreF while the prem1-
urn lasted aggregated, 1000, 900, the state
ment of the representative of one firm
being that their fits were 5000, 600.
The profits of the refining brokers are
easy of estimate. Ie firm making the
largest established lead from the be-
ginning, though fon by two banks to
withdraw their ad1nts The third
bank accepted theiEcount only on con-
dition that currencshould never be de-
manded of them. his and other dis
couragements offer by the banks in
Inundated many fn engaging in the
business, else theggregate OF profit
might have been rger and the banks
themselves forced tbuy currency. The
railway and expres:orporations helped
the banks out by fusing to sell their
cash receipts, and premium on cur
rency thus ended tay and sooner than
would otherwise ha been the case"
The premium wihot return in half a
century. Banks sa5hat the conditions
producing the scsity were unusual,
and will never occ again in ordinary
circumstances. Utmost valuable of the
influences against. premium is the
growth of the sentient against the sale
of currency in hal4times The banks
have been supporteduring the struggle
to keep the premiuldoWn by the lead
ing mercantile andiock houses.
One question stilemains unanswered,
almost untouched Shall the cur
in the State?n That's the question. No
matter how much j here if not circula-
ted 1t is the life-bod of all industries.
If you stop the mement of the blood
from the heart tbugh arteries and
veins, and back ! the heart again,
modification and dth quickly ensues.
What can be done hen, to prevent the
recurrence among ur, people of such
unreasonable u,easOning panic?
Prohibitory IegisIaon cannot accom-
plish it. A man BID the right to tie up
his dollars in hi stocking, or to lock
them up in vaulteither5 course equal
ly senseless-and VI cannot prevent 1T
by laughing at hiI or denouncing him.
We are in dange1n these days, when
it is the fashionto do everything in
business, in politii, in religion, by or
ganization, to unCrrate the power of in
dividual influence In the various walks
of life we all ha, opportunities to inn
part to each otheland especially to those
whose advantageslave been less than our
own, informatio on subjects of COM
mon Importance 10 all. Take this ques-
ton of withdraw of deposits from saw
ings banks on account of reduction of
dividends. You can convince many a
man disturbed o such a point that such
action by the doctors OF such institu-
tions is a prooof the ~care with which
his interests arc guarded that it is be-
cause investmets promising greater re-
turns are not rgarded as equally safe.
You can show i'm that to draw his saw
ings for such reason, and at such a
time as the resent, is as unwlse as to
cancel his Insurance policy because his
=
warn him fom listening to plausible
promises OF great returns from specula-
i've ventue; you can inspire h..n with
confidence nd put him OH level ground
again; youan discourage by word and
zen the wrcking policy so often pursued
oy person whose uns crupulous selfish
ness show itself in maligning their bet
;ers and Misleading the inexperienced.
t has bea gratifying to observe in The
.ecent Girls to how great an extent the
,ress of Iaine, abandoning the arts Of
he partisan, have employed it's power to
eassure tie demoralized community and
"a consere those institutions which merit
public Confidence. If the question as
igned wce How to keep capital in the
,tate,n ithas been exhaustivcIy discussed
It your previous meetings, and far more
bly, thai the speaker is competent to do.
Is to theenterprising manufactures, the
and successful agriculturist,
he promoters of quick transportation,
hey are Ill around me today and do not
eed mypraise. Every citizen of Maine
Who in lis measure, and according to
lis ability and position, provides en-
loymeni FOR one man or one thousand
nen at hir wages is doing invaluable
ervice il making our State attractive
0 capital, because productive of the
reatest good to the greatest number.
that increases Names use
nj product whether by her skillful
ndustrls, or her unsurpassed soil. keeps
len in Ter borders, invites men to her
road fi.lds and her rich opportunities
nd ii she has men she will have money,
d. money without men to use it, to
irect il into channels through which IL
hall few with fertilizing effect, is verse