The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-11-29

l HOW mucn or II can ne safely coined. and
| upon what conditions II can be safely used,
| are questions upon which there viii be
wide differences OF opinion; but after all
| be finally determined by circumstances
which can not now be foreseen. and by
the natural Increase OF our population and
the natural growth Of our indus tries and
| trade
1T is enough to say at present that we
have already on hand a stock OF silver
| coined and uncoined sufficient to meet all
| the probable requirements Of the country
| for many years to come. The minis Of the
United States have coined s19 332 so stand
/ ard silver dollars. and we now have 1862
100 me ounces Of silver bullion. which. az
| the ratio OF Is 10 /. would make SIS. 914. 81.
| or S5Ol,241 S9l in the aggregate. Besides this
We have S76,Sl7,o02 I'm subsidiary silver coin,
which is legal tender to the amount Of ten
dollars, and Is by law redeemable in full
| legal tender money on presentation. Our
total stock of gold coin and gold bullion Is
/ S65S,l67949.
| The Latin Monetary Union.
''The five countries constituting the Latin
monetary union with a combined popula-
| ton of more than 100000, exclusive OF
| their colonial possessions have ss75, .oOo.Ooo
| In gold, S25 100000 Of fun legal tender silver
/ and So, 200 of subsidiary silver coins:
| and yet they found it necessary several
years ago to discontinue the coinage OF
legal tender silver and enter into
| rangement by which each country agreed
| TO redeem in gold all its own legal tender
| silver COINS when presented by any other
| member of the union. Thus gold has been
| made TO support limited quantity Of sill
Greece and Switzeriand.a as II has been re,
/ quired to do in the United States since 1873
/ and as ii must continue 10 do hereafter
| here and elsewhere. unless a great change
| shall occur in the relative values Of the two
Being the greatest silver-producing
| country In the world. and having on hand
| a large amount Of silver coin and bullion,
| than deeply interested in every measure de-
| signed 70 enhance its value and increase
| us use as money upon a safe and sound
| basis, but we can not alone maintain its
! unlimited coinage as fun legal tender in
| opposition TO the policies of the other great
| nations OF the earth: and the country Is
| TO be congratulated upon the fact that we
| nave at last placed ourselves in a position
| Whlch enables US 10 preserve our own mon
| etary system intact and exercise a potent
| influence IN any movement that may be
| hereafter made for the permanent adjust
| nent OF this very important and difficult
1T is great mistake 10 suppose that
| the supporters of our recent legislation
| upon this subject were animated by any
| feeling Of hostility to the continued use
| OF silver as money 10 the largest possible
! extent consistent with the stability of our
| currency and the preservation of the pub
! lie faith. The wisest and safest friends
| Of that metal are those who have had the
| SaSaclty TO fOreSee the inevitable effect Of
| It's continuous accumulation in the form
| OF bullion in the vaults Of the treasury,
| and the courage to remove from the stat
| ute book an experimental law which from
| the time of its enactment was a constant
| menace 10 the welfare Of the whole cOun-
| try.
| In conclusion. Mr.. President permit me
| 10 thank you and the chamber of COM
| merce Of the state Of New York for a r
| fording me this opportunity TO meet 50
| many OF the leading business men of this
! great business city, Although your
| ganiZatiOn has been in existence more than
! one hundred and twenty-five years, and
| has passed through many trials and
| VicisSitudeS IL is but simple justice to say
| that its counsel has always been wise and
| conservative, and its action patriotic and
| beneficial All that is needed now 10 in
| sure an early Inauguration Of an era OF
| great prosperity is such action upon the
| part or this and similar organizations
| throughout the country as will inspire
| confidence and revive the spirit OF enter
| prise among the people. Now that our
credit has been greatly strengthened and
| our currency made more stable and secure.
| an opportunity is afforded those who con-
| troll our commercial and industrial inter-
| Orable conditions than have existed for
| many years, and am sure you will cheer
| fully cooperate in any effort they NAV
| make in that direction"
Mr.. McKeIway's Speech.
In responding to the toast. Municipal
| Government" Mr.. McKelway said:
This toast is an old and familiar friend
of mine. and we are on very good terms
with each other just now The joy of
battle has been followed by the delight
of victory. L bring you welcome from a
| city which has been delivered to a city
/ that can be. The character of municipal
| government is the question Of the hour.
| If those to whom the people look for
| guidance are true to their trust the will
| of the people can be stirred and their
| capacity aroused TO the full points OF
| effective energy. Government rests on
| suffrage. Underneath suffrage is reg
| iStratiOn and underneath the latter there
should be nothing but truth and honesty.
Honest registration IS a primary neceS-
| sity. 1t is the bulwark of all virtues
necessary in elections, and it is the in
| centive to all the reforms feasible in
| government"
The speaker then spoke Of COLOMBIA
| ton and the evils resulting from dishon-
| est registration which was recently ex-
posed in Brooklyn, New York, Troy, Al
| bany, Buffalo, and Gravesend. Refer
ring to the late elections the speaker
| said that a conspiracy comprehensive OF
| both parties could not long remain a
| success in a free state or a great city.
I'VE have proof Of this" said he, AS
! equally respectable nominees for admin
| istrative offices were presented"
Speech of Minister Phelps.
The Hon. William Walter Phelps. ex-
minister TO Germany, spoke about the
| changes he saw in cur men and man
| ners after his four years absence. When
he returned he found a great many
| changes, but his friends in the chamber
| had not changed, for said he: The old
| guard never surrenders and the cham
| Der of commerce never changes"
Continuing Mr.. Phelps said: Il refer
| to changes in men and morals which you
would not be so apt to notice in their
gradual evolution as I who came home
| to find them accomplished facts.
when l went away a man read one
| newspaper Of a morning and believed
! in much he read in it; now he reads
as many as he has time to- and believes
nothing except the few things on which
| they all agree. L notice another thing
and that is party spirit is not nearly so
strong. All men used TO be more or less
partisan and now the man is rarely
partisan who does not seek office for
| himself or his friends.
You would scarcely ask me TO de-
clare that this was an unmiNed good
| and vet standing so near TO the 9Th of
| November when two democratic states
| deliberately and purposely handed over
| office and administrations to the repub-
licans as the surest way 10 pluck what
| seemed a stained ermine from the court
of appeals in one case and in the other
| erase the broad seal of the common
wealth from corrupt legislation, l can
not say that many patriotic hearts did
| not applaud the act, but If Senator Hill
did not il is because nothing can ever
| make him desert a friend. Scratching has
! come to stay and TO grow. There are
many things to nurture IT,
Mr.. Carlisle thinks Americans ought
TO buy their goods where they please
and that they ought to buy only in
American markets One may vote for
Z h.. ,fH Far. 4wad