Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-05-03
DETROIT. MICH. Nav 4.

DETROIT, MICH, May =.
Appropriate ceremonies In honor OF
the completion OF Dotrolts magnificent
100000 chamber OF commerce building
took place this afternoon, Upward OF
$50 leading business men. with the
guests of the evening. enjoyed a ban
quot given at the Hotel Cadillac to-
night.
Ex-senator Thomas w. Palmer pre-
sided as POSTMASTER.
Hon. Chauncey Depew delivered this
address OF the evening. Speaking OF
the currency question. he said:
Glow are we TO preserve our pros
perity? With confidence business OF
incalculable magnitude can get along
with very little currency; without con-
fdence. there ir not enough money in
the world to conduct the business of
the United States, We have been at
the bottom ana we are ON the up grade
OF prosperity, We should have a
revenue sy5tcm so well defined that II
could not be disturbed except In minor
details FOR a generation, While not dis
cussing tarln or free trade, we should
have revenue system which Will
meet the requirements OF the govern
ment and to support 1t without direct
taxation.
"The United States is debtor. ma
tiunal, municipal. railway and indi-
vldunl TO the extent OF about fourteen
billlonB OF dollars. OF this one-third
is held abroad, a well defined policy
10 pay our debts at Zoe or at SOC on tho
dollar would lead TO one thousand or
three thousand millions of dollars of
our securities coming home for us TO
take. The presentation OF them In our
markets would endanEer the stability
OF every bank. derange everything,
and paralyze every industry in the
United States. There can be but ono
standard of value, and that IL n metal
which viii bring the same price wheth-
er II IL In bar or has the stamp OF the
government upon It. a dollar must be
worth n hundred cents anywhere in
the United States aud hundred cents
anywhere in the world"
The Hon John Il. Ecl1es responded to
"rhe Currency" He spoke in part as
follows:
"The American people can not too
quickly recognize that they are In the
midst OF a propaganda. sklllfully and
zealously being carried on with tho
end In view OF revolutionlzing the coun-
try's existing monetary system. Those
who now direct the free silver idea.
map out the policy OF Its advocates mud
control their action, have ceased play
Ing with words and put from them the
professions which heretofore have char
actcrized their utternnces when urging
the cause for which they have stood.
Their demand today, interpreted in the
light Of their acts IL that the United
States shall at once abandon It's pres
ent standard Of value and substitute
therefor. irrespective and without the
cooperation OF any other country, "a
single silver standard. Nowhere is II
suggested by the sponsors for this lat
est tenet In the silver creed that this
nation shall even undertake to main
tain at home double standard. No
where is there promise given OF an at
tempt through International agreement
to make every dollar OF silver which
shall be coined the equal In value OF
every dollar OF gold which comes from
the mint and fairly interchangeable
herewith.
"They no longer give recognition to
the fact, attested by every monetary
union formed and conference held that
nc nation ran isolate Itself from those
with which It has cdnmercial dealings
end maintain. independent OF them.
distinctive standard Of value 1t IS not
even designed that the dollar coined
ablii approach an intrinsic value. the
value which II purposes 10 carry, but
instead a ratio shall exist between
coins OF the same denomination. which
is patiently Incorrect and untrue. The
POSITION which they now assume Of
necessity eliminated from their ranks
an who heretofore have struggled 20
bring about larger use Of silver In
the country's currency al an INCREASED
ratio and drives into the camp or the
opposition every honest champion OF
international bimetailism. Ths plan
lnid IL Of their own making. the issue
OF their own choosing. and In the face
Of their acts the believer In siuGle
gold standard and the believer in a
standard OF both gold and silver should
give them neither aid nor succ,r. They
challenge the one and rephhiate the
other. and from both nhould come
united opposition"
Letters OF regret were read from
President Cleveland, ex-preHident lior-
rison and Senator BURROWS.