The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-26
SMITH SPEAKS AT COLUMBUS.
HE Is TIE GUEST OF THE DEMO-
CRATIC EXECUTIVE COMMITTEE.

A steady stream of People Calls ON
the Secretary nt the Public Re-
ception rendered Him at the RAN
kin HOuSc-The Operu House Pack
ed with People at Night 20 Hear
His speech-Received Wsth Hearty
Applause.
Columbus. Ca. July 25.-Hon. Hoks
Smith. Secretary of the Interior. has been
the guest Of the democratic executive
committee in Muskogee county to-day
and has received a regular ovation from
the people OF Columbus.
a public reception was held between II
and 1 O'clock. at the Rankin house. which
was attended by many people. there be-
ing a steady stream going and coming
for over two hours. Hundreds came FROM
across the river from Phoenix City and
Girard. The secretary was very cordially
greeted. and made a very favorable inns
preston on those who called upol him.
In the afternoon he was given a drive
around the city. Tonight the opera
house was packed to It's utmost capacity
sound currency.
Hundreds came I'm on the trains from
neighboring towns in Georgia and Alaba-
ma. on the stage were over fifty of the
representative men Of this city and coun-
ty, including prominent mechanics and
workngmen.
Secretary Smith was introduced in am
eloquent speech by Lionel c. Levy, lead-
ing lawyer of this city. and was received
with hearliost applause.
lie spoke for over two hours and waa
listened to with interest being inter-
rupted frequently by applause when some
specially strong points were made.
Referring to the panic Of 1893 tho secre-
tary said that the demand notes called
greenbacks, had been presented during
the panic at the treasury for payment
The government did not have the money
then and It was necessary for II to borrow
the money. This il did by issuing bonds.
The secretary stated that he was satis-
fed no cause Of uneasiness should exist
on account OF the very small demand
upon the treasury last week for the pay
ment of national demand notes. He waB
confident that this was the result OF y
men might feel assured that no rush would
be made upon the treasury to the extent
Of causing any trouble by the demand
notes unpaid
lie called attention to the fact that the
national democratic platform of 1876, on
which Tiden and Hendricks We're nomi-
mated. denounced the failure OF the Re-
publican party to make good the promise
of the legal tender notes demand notesl
and declared that their non-payment was
regarded as a violation of the faith of the
nation.
He declared that every democratic plat
form recognized the principle that the
government must absolutely maintain its
credit and meet these demand notes
whenever they were presented, and the
present administration simply did what
was absolutely necessary and what was
thoroughly democratic when 1t borrowed
money to pay these demand notes.
He declared that nothing could help our
monetary system more than to pay on
all OF these demand notes, making. how-
ever, at the same time, some provisions
for an increase of currency TO take theiH
place. He said that II this were done. 10
would be perfectly easy to coin the sill
yer bullion in the treasury and with ID
pay off the SAG, 100000 Of treasury notes.
and also use the seignOirage of fifty odd
millions from the coinage of this silver.
He showed that by such a course and
by using the funds In the treasury now
maintained as a gold reserve, the burden
would not be heavy upon the treasurys
and that II would end forever all raids
upon the treasury gold disturbances cons
sequent thereto.
He then discussed the extent TO which
bills of credit are used in our business
dealings and showed that 95 per cent. OF
exchanges Of property were based upon
checks. bills of exchange and bills OF
credit and that money consisting OF gold,
silver and paper were only used TO tha
extent of per cent. of the exchanges.
He urged that that system Of exchanges
was best which was least expensive, and
that anything which shook the credit OF
business throughout the country would
not only drive out of circulation money
consisting Of gold, silver and paper but
would put out of use credit checks and
bills of exchange