The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-23

Issue and sell bonds to keep the reserve In
.Sat column Ssfs swiif and stFoRs, viii in
.eryals OF delay for ample and skiliul hrepara
and again. and have only slack ened in thei
frequency and force since 1t was found that thu
in that way. Tho Capitalists seeking anew new
suprly Of interest bearing Goy,ernment bond,
startled the country and thrilled the world
away from tho silver.bIasted country, chased
out by silver money The gold shipment.
panied by a c"n Scrted Satcry from the terror.
national banking system. that nothing could
restore coniidence aud credit save the issu.
lie had no desire to assail the national banks.
Il Vas the system hG arraigned and not the
ed aud unbrded power Of
banks. whereby the circu alton Of monet IN the
hands Of the people, can be and often has been
mum nn"e to T stmnnsd and dstressSI minm Hm
constituted standing and u frigh,ful menace
against the safety. the welfare, and the hapri-
! American people.
| The idea presented was appalling No other
private persons. in the attempt to force the
Government into the attitude Of q borrower to
| escape bankruptcy. the banks had endangered
| their own credit and in many instances total
loss Of tho confidence Of those who trusted
own head. Who bad not seen the boast that
tHc VI tne nHllOnNl fNnkN. Nv con
| bring Congress itself a suppiiant NJ their
d @ G hs @ sn Of %ae
looking nt it, suddenly .nrivSlled away and
i by some inferna. enchantment.. money
H dit GSs nrob il m inss night an ds eS
% h "s e more thns
81 .5Oo.Wh.WW- nearly 81 per capita-wns In
circulation within the last year, unu should DO
IN circulation to-day. The, Goyetnment was
subject Tho national banks ' we're between the the
GovernmeEt and the people and in the If vaults
, to-day lay bidder millions and hnndreds Of
amount credited to circulation on tho books OF
the Trensnry-hcld there by the cowardy un.
earthly 40 ssnssions. Cou! id any one be blind
to the fart that the banks had not only. and
tnrne ;heir Keys on all business prosperity. but
that they had also ATTEMPTED to seize the Coy Gay.
arm Sy @ S apniEo Sqy
4 condition Of the Two extremes OF vast con.
aoidated wealth on one hand and absolute
Esry loar ThisR ssnssd 70 MAKE s t tSs peo:
and task,nastars. was looked upon with
aversi"n Even, the pension rolls Of the
blood mud tears Of millions, 's shed for the the
ssSSanrd dstCrmirst and yindietiye assault:
simply continuation q What had been heard
from the start and had the snme inspiration
human affairs. and from it there could be
no complete escape; hut it were better far
granted than that an honest; we'll earned.
well.meri'ed pension should he denied. 1t
o tue OF Which snf Ss
greatest wrath in certain quarters on tho sub
lect Of pensions. After quoting from his for
voorhees, said that It was clear to his mind ind
that pension money amounting to over $780,
where. was one Of the greatest sources Of re-
Lief now left to the. people in the way Of cur
rency. independent of the contracting. retiring
Mr. Voorhees, asserted that the national
banks were entering on final fight for pro
lied that the present supply OF Government
nonds for bank .Eqrp3sses must be very
or they would ! 9 forced 70 commence winding
up and retreatins from the theatre Of action IN
years hence. in 1907. the last bond on which
the banks had issued their currency would
fore this the question Of Representation Of the
national banking system would lie pressed
Of bs In view 81 the
ment shouli adopt in the near future In fur
Mr. VOORHEES, then outlined his idea t Of what
was 10 follow the national banking system.
clared in It's national platform for the repeal
OF the Government tax on the Issue of state |
cry ens@y o Sy
was about to invade the country. Investiga. !
ton Of tho subject. however. showed that no
bank or it's failu to, redeem it's currency in
Mr. Voorhees, said that he did not no re- expect tn,
Government ever to abandon a national cur
ntional banks. but he did expect at no very
distant day that United states notes. such as
ere now and have been for thirty years in ex-
honor Of the Government. would supersede ali
Other national money except cold and silver
rNiate in the hands Of the reonie alongside Of
the TeIi-gnarded. safely secured currency is
to the Constitution by both the precious met
ais Those who lived to witness the adoption
look urdn the safest. strongest and m ost ben.
et"!al system OF finance ever before known in
Sbe n,o s& Il Rase the
nm! in,ispen sable features Of all sound flnan-
First; snrhc."n' volume Of currency at all timer.
tn! se ia sr y ms On PscS na
.le gr"wing and expanding business Developments Of
sccond-Tne absolute denial and destruction or all
,n%er ~ the !.nGs Or ndv duals corporation. syn
IN :GnIa.Gn thu. rendering panIcs and
rn,rdIaysry dollar N circulation; whether gold
psr rts ami "isa w se s.y on.s
s% D 'see . to inc .cps 'hs benefit,
|
eng. circulating in harmony and uniformity and
lbrohi. |
FnUrtb-The ts,tlenrM. of the vexed que st ion Of sill
yer money at once and forever by authorizing to
orh lts portion or the specie basis required by the
constitution 70! every chartered bank the In o: by
"c0Rniz!ng II when defining the powers OF the states
o MAKE leEhl tender money. thus mRKing the Of |
liver conal MTG money. as imperative as It will no
fiFh-The total and compirte overthrow of tho |
dangerous Capitalization Of the money power now OK.
sting At Jew money centres and in the hauds of a
individuals by giving to the people 'of
lie right NJ home Tu's the subject OF money and |
hereby securing 10 ihnm a reliable Notwithstanding
ONE circulation.
10 these Ave proposition. Mr.. Voorhees,
dded but one more-a carefully adjusted and |
'radcd income taxa most equitable and up-
light measure in providing Government reve-
ue and demanded by old fashioned eternal
nsticr In conclusion. Mr. Voorhees, said:
And now lot the whole people Of the
nj ed States. Of every comm onwealth and OF
very neighborhood. east out their fears and /
hide in an unshaken faith that tho present i
lsastcrs VIII pass away and be followed, rs i
Don n much-necdei reforms can he accom-
lish"d, 10y tho unbroknn sunlight OF prosper-
y. and thar lie who determines the destiny OF
ations will cause the republic of their fathers i
. win, and not to lose. In the trnnscendent
,ission to, which it was dedicated hundred :
ears ago. 4
The delivery Of the speech occupied an hour
nd thirty-ilve minutes After Mr.. Voorhees,
ook his seat he was congratulated by many ,
H.