The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-11-23


Carlisle on Our urrrnCy.
In lis address at the banquet OF the
New York hamber OF Commerce
Tuesday night Secretary Carlisle Gwelt
upun tho great value to a country of u
sound and stable currency. With n
luCtuating currency confidence, he
POINTS out. is destroyed, trade is inter
tuttod the obligations of contracts
nc violated and tho community l.
illlcted with innumerallh financial
eyiis lnrgo proportion OF our farm
trs, mechanics and other lahurinG
people are engaged in producing for
foreign countries A had tHril' or d
lnd currency system that interiors;
with our foreign trade trngs hardI
Tines upon our producers. Prices OF
XpOrted articles nro fixed in foreign
mnritrts and in these markets gold IL
hu standard OF value. OF our foreign
'iade Of 81, 200, Coo, 600 last year, 81 100.
, %. eco WINS with Europe, which wants
gold In the settlement of balances.
NcludinE Brazil! which has the sin
10 gold standard. our trnde with
south America WIS but sId.O00,0OO
| with all Asia IL WIGS but little over
| 5lOO. eco OGU. Tho character OF our
uricnry must, IL ia obvious, h0 shaped
| to accord W tn that OF the nations with
which We trade most II we are to es-
| rHpo tho friction and loss that dlller'
| ing standards OF value produce. In
International trade what is stamped
on CON counts Tor nothing; it's in
trlneic value Is alone regarded. We
| wny use silver among ourselves UNI
| der certain conditions to large
amount, but gold Is the only inter
! national money. and we must have
plenty Of that In use II we do not wisl
10 hobb.e and iDjure our fcreigl
'rGdr.
II ia useless" says the Secretary.
Tor the advocates OF Il different sys
ten To Insist that this ought not to bt
SO; it is SO and We cannot chnnEe TIL
tact. This Is great and powerful
government, but there is one thing j
cannot do--it cannot crente money.
Ii can, however maintain the part,
Of It's coins 10y receiving them ms
their paper representatives in paymer
Of public dues and discharge It's obi
cations in whatever kind of money IT.
creditors demand BY 30 doing /
Keeps its large issue OF deprecated
silNri coins at par with gold. We hav'
coined says The Secretary of tn
Treasury, 4l9.S32 h50 silver dollars
We have l4o 693 go iino ounces o
silver bullion. which. ut the ratio OF i
10 !, Nuuiu ilhhf : l0l-Th't-Ntls
linus We have So ] 2i7 o9l OF silve
collars. besides Si6.9T7 COZ in subsidi
NY silver coin Our stock OF Eolt
coin anu tui ion IL sta9 l679l9. Tn
,untr4es IN thn Latin Union having ,
I population Of 81 ,OUU,0Jl and so 0 0.
J 900 of gold, by susprndlHg tho free
,, oinuge of silver. keep so 900 600 o
lrghl-tender silver and 95,uU0,0G0 o
! subsidiary silver coin at par with gold
!, Me can do rs well Rut wo could no
J alone maintain the unlimited coirag
/ of silver us full legal tender in oppusi
tinn to tho policies of the other grea
nations OF tho earth. Events hav
made one thing clear. That we are L
pay our obligations in coin currcn
IN ali the markets of trio world hn
been settled says the Secretary, 70
al tine to rcme." The question is n
longer open, ii IL was ever an opei
question. "'Ihe spirit AMI obvluu
purpose of the whole body OF eSistin!
lceislationr Las setLled II. lie declares
oncc Tor all.