The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-12-02
CARLISLE ON CURRENCY.
Secretary Carlisle Talks Before
New York Business Men,
At the Annual Banquet of the Chamber
of Commerce at Delmonico's-The
Treasury Secretary's Analysis
of the Great Problem.

The New York chamber OF commerce
celebrated its onc-hundred and twenty
fifth anniversary by banquet at Del
monico's, on the evening of November
81. Secretary of the Treasury Carlisle
was present and spoke on the currency
question. lie was introduced by Presi-
dent Smith of the chamber, amid con-
siderable applause.
Mr.. CarIIsle's Address
MIR. PRESIDENT AND GEsrLEMES-Tho sub
ject presented ty the sentiment Just read Is so
large and involves so many considerations, not
only Of public policy, but Of public and private
honor and good faith, that Iscarcely know how
to respond to 1t on such IN occasion as this.
where brevity OF sentiment will be more ap-
preciated than elaborate argument l am
somewhat embarrassed. also, by tho fast that
am TO talk 10 an asscmblage OF gentlemen
who. ly reason OF their personal experience In
commercial and financial affairs, are 1t least In
as good position as 1 am to understand and
appreciate the value OF q sound and stable cur
rency and TO foresee the injurious efe,ts OF
departure from correct financial methods
Money and its representatives constitute the
tools with which the merchant and the tanker
perform their parts In the numerous and COM
plicatcd transactions necessarily occurring in
the growth and development OF our trade ut
home and abroad. II is not possible TO do per-
feet work with imperfect instruments. and IL 1t
lie attempted the consequences will not fall up
on you alone, but must be felt sooner or later
in every part Of the land. Confidence would be
destroyed trade would te interrupted. the OBJ
legations of contracts would be violated and all
the evils which have invariably attended the use
of n base or flu, tuating currency would afiiict
not the commercial and financial classes only,
but the country at large. But our commercial
interest are not confined to our own country:
they extend TO every quarter Of the globe, and
our people buy and sell ir nearly every market
of the civilized world. very large part OF our
farmers. mechanics and other labOring people
find constant and profitable employment in the
production and transportation of commodities
for sale and consumption in other countries,
md the prices of .many OF our products are
fixed in foreign markets. Without exception
| these prices are fixed in the markets OF Coun-
| tries having i gold standard or measure of
value either by express provision of law or bv
! public policy which keeps their silver coins
! equal in exchangeable value to the gold coins
| at the legally-established ratio. The value OF
| our trade with the people of other countries
| during tn last fiscal year was more than
Sl.7ODO01.ODD and more than II loo O0D OF this
| was with the people of Europe, while with the
! whole OF Asia it amounted to 4 little over slOO.
| OOO0Q and with all tho countries of South
| America, excluding Brazil. which has single
| gold standard it was only Si0ODO1 While
ii would be unfair to attribute this unequal dis
| triSution OF our trade with the outside world
| TO the character of their fiscal legislation. l
| think il may he safely asserted that this coun-
try could not long maintain Its present posi-
tion as one OF the most conspicuous and i'm
! pOrtant members of the great community OF
| commercial nations which now controls the
| trade of the world. unless We preserve 4 none
tary system sui stantially at Least, IN accord
| with the monetary systems OF the other prin-
! cipal nations.