The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-13

a more dispassionate and intelligent dis
cussion OF the subject hereafter.
Secretary Carlisle went on 10 say that
the abandonment or defeat OF the free
silver movement will not be sufficient 10
insure permanent financial peace IN this
country.
Secretary Carlisle reviewed the legal
tender paper currency legislation, which
he characterized as a radical and danger
Gus departure from true financial princi-
pies, IL not a serious infraction of the leg
islation Of the United States.
He described the process by which these
legal tender notes are used TO deplete the
coin in the treasury and said the notes
when redeemed should be cancelled and
not reissued. or In other words. said Mr..
extnguished. The government OF the
United States ought not to be engaged
in the business Of issuing notes to circu-
tion of that government and the sooner
this truth Is realized by the people, the
better il will be for the country. My
contention IL that the notes ought not 10
be kept outstanding. but should be re-
tired and cancelled as speedily as . sound
and safe currency can be provided 10
cial repose in this country 50 long as
these notes continue a part OF our cur
rency, because the fact that they exist
large gold reserve. which. in the
be permanently maintained at any hxed
amount; and whenever It begins 70 dimin-
ish. distrust and apprehension arise, in
the public mind, values are unsettled,
business disturbed. and more or less loss
is entailed upon the people. The losses
already sustained on this account are al
most beyond computation, and there Is no
good reason to believe that the country
can escape further Injury in the future IL
the policy Of the government is unchanged
in this respect. The fact that the sound
posed to depend, upon the maintenance
OF certain fixed reserve In the treasury
keeps the business of the country In an
almost constant state OF agitation ana
alarm, and Is from every point Of view
detrimental to the interests of the peo-
Pile
He placed the responsibility upon the
people and their representatives In con-
gress to determine whether the public
debt should be increased from time to time
in order to redeem and reissue this paper,
which was, in his opinion, OF doubtful
constitutionality. The executive author
tiles must obey the laws as they stand,
whether they be good or bad, but all the
powers conferred upon them by the stat
utes he promised would be carefully and
fearlessly exercised whenever necessary
and the maintenance Of a sound currency.
In conGlusioni inc secretary declared
that until legislation provides a safe cur
rency. the parity OF the two metals would
be maintained and the whole volume of
our currency, paper and coin alike. would
recognized by the commercial nations of
the world
Secretary Carlisle was followed by coun-
cillor J. X. Leesoni representing the com
Jackson and Hon. John Il. Russell The
latter paid glowing tribute TO the work
OF the secretary, declaring that no pre-
tory of the government had encountered
so great difficulties or mastered them so
easily; that the action OF the President
| ernment's credit through the greatest
| financial panic In the ELgtory Of the coun-
| end,,rine Than bronzn and thaf Mr. Car.
| isles speeches in favor Of sound money
i during the crisis OF last summer had
1 turned the tide against financial heresy
| and had a second time saved the country
/ from financial disaster.