The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-06
SECRETARY HERBERT's SPEECH.

The speech made by Secretary Her
h@rt at Montgomery. on Friday last, had
q great deal Of the soundest sense In H.
The following passage from 1t Is worm
reading over and thinking about;
"On the conclusion at which we arrive
may depend the future supremacy OF
the Democratic party In the united
States for years to come. l approach
this question as blmetailist, ana let
me remind you OF what you areauy
krcw, that l am also Democrat VINO
has always worked in harness, ana
have never complained that the party
collar chafed me or sat uneasily on my
neck.
Il am bime;llaist because ! believe
I'm all the gold and silver we can cir
culate at par with each other, but am
not the friend OF either OF these metals
for any sentimental reason. What our
currency shall consist OF 10 question
to be decided Oh business principles.
There is a sentimental objection 10 gold
INDUCED I'm by some-that il is the money
of the rich. but 1T does not seem 10 me
that this should have any weight be-
cause. in my opinion. the poor man is
entitled 20 as good money as the rich.
There is a sentimental argument in
favor OF the silver dollar because II is
eaid to have Seen the dollar of our
fathers 1t does not seem TO me that
this argument should have any weight
because IL is not founded on fact. The
fair presumption is that neither your
fathers nor mine or any other mans
father. who died prior to 1875. ever
handled enough silver dollars to keep
him out of the poorhouse."
This contains the true foundations OF
faith In this matter All intelligent
men are bmetolilsts In the true and
proper sense. Gold is so precious that
II cannot be subdivided into coins that
will answer for charge The gold dol
lar is the smallest gold coin that can he
advantageously used. ard the dollar, even
is too small for convenience. Coins OF
smaller denominations than the dollar,
therefore. must he of less valuable
metal so as TO be large enough TO be
used safely and conveniently silver
Is better adapted TO these minor coins
than any other metal. Every intelli-
gent man. therefore. is a bimetallist in
the sense OF wanting all the coins that
true bimetallist has no objection either
to larger silver coins, il there is any de-
mand for them, but lie is unwilling 10
force larger silver coins upon an unwilling
pubic. The American people 90 not
want The larger silver coins, and the
complete and irrefragable proof OF the
fact Is that though We have coined more
than four hundred millions OF silver dol
lars. VIC have r,Ne" been able TO force
upon the public more than fifty millions
81 them. and there are not now out in
the hands Of the American people more
than thirty millions OF them. The gov
eminent pays them out for its obiiga-
lions. but the people do not want them
and they Immediately bring them back
sad deposit them In the Treasury, taking
In place OF them certificate OF deposit
But nothing OF this sort happens with
the coins Of less size than the dollar.
All OF these that are coined and paid out
By the government find ready circulation
amongst the people. and are OF the great
est service and convenience to them.
This is complete proof. then, that the
people do want silver halves and quarters.
but hat they do not want silver dollars.
Or Ave and ten-dollar pieces
All intelligent men. then. are bimetaI-
lists. but they want those silver coins
only which the people need in their trans
actions. and their refusal TO use silver
coins as large as the dollar pieces proves
conclusively that they do not need sill
yer dollars.
Nothing more truc was ever said than
Mr.. Herberts staten ent that what our
money shall be must be decided upon
business principles. There II no senti-
mcnt In the matter. Business knows
aothing Of sentiment: II knows nothing
but cold. hard fact. and the metal which
win convey the largest amount Of labor
in the smallest compass il the metal
49, A..~f -