The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-17
PRAISES Mr., cARLIsLE's SPEECH.
MIR. Belmont Said His Talk on GreenDacks
Was the Nost Coge He Has Made.

In an interview ex-Congressinan BEL
mont yesterday described Secretary Car
isles recent speech in Boston as the
most cogent Mr. Carlisle had mace IN
condemnation OF the old and new greer
packs. He said the speech was cSpecidi.
~ gratifying to him because MS own AZ
Syracuse. as temporary chairman OF the
democratic State Convention, ran V'
all Tours with IL. He added that seV r.
tary Carlisle exhibited 10 the country LOT
the first time the cost OF greenoach re-
deemng since 1873. That colossal SUM
will startle and stagger the voters. IL Ia
nearly 1891. e0.vO. Mr.. Belmont sara.
The Secretary could nave iiiusel ..i,,,,
the magnitude OF the cost by sno"lhs
that the Increase OF interest-pediihg ma
tional debt caused by the war vi seSs,s,
sion was seven times greater. re voul '
nave added that the cost Oh ainnnsf
one-half OF the existing lh'eIeS'-'' ms
debt
"He brought out with perfect clearness
the new point that even ~. pL , s'ie V ana
by our own laws fifteen ana a ndll ounceS
of silver are kept in the future on a
parity with one ounce or gold taS We no"
keep only in our own jurisdlctoH'
nfty-two- cent silver dollar on par 'tx
with a gold dollar, even then We shSl
be compelled to get silver and goli Tor
greenback rcdeening on a coin Ddsi' ""-
less the greenbacks are uestIo.Su' ,,,da
ut was an impressive utter. Grc, made
by General Logan many years ago, WHICH
described the greenback as ps,tteo ttveh
and blood-stained us patriou.o Zen
has made a popular IDOL OF - eh'n 81
though its utility ceased I'm lS'5, When
Congress made the pledge 20 pay an y
tinguish IT. which pledge was Violdes" 10y
the law Of May 81, ls.s. ma ,nn,ders
year Of silver and greenback piuiiuel >
Then began the costly three -hunlIeu-a,' i, .
thirtv-one-m million debt. The hhso "cp ,S
is not the worst OF IL. Inc poMe -
bonds impaired by the law OF ie'S i i,Ss
been used for a purpose. under ny i~n
of 1878 which the former law coulu not
have contemplated. That Is not All. ! re
law OF 1873 did not expressly iilllal. d. a
legal-tender faculty % the new Isls,,. .', =
greenbacks but the Republican supreme
Court chat sterling Democrat, Mr; Jus,
tice Field, dissenting interpreted dnu
legislated a legal-tendcr clause lito I'D :
law and then adiudged tnat IN UNI VI
profound peace Congress could Ildh' Il
legal tender Of greenhack DEBT. Inc pre-
vious decisions covered only war
power , - lii
when, in 1874. Congress passed oIli
| increasing the sum OF grcenbdchs ny ""is
some eighteen millions there was a Ritd'
outcrv The Atlantic cities sent deieSs-
tions to Washington lmploIlhS Ilssie,..' =
Grant TO veto the bill, ana when ne na
done IL he was praised as second lime
the savior of MS country. But the Sner,
man law of 1880 created nearly hunur~l
and lfty-six million more sreenbacSs 10
be perpetually redeemed anu relsSueI.
finder that law, and associated Jaws
the Treasury has now some elshS nun ,Il-
dred and thirty millions OF paper iolldrs
TO he instantly and perpetually Ieuc,, i'i ~
on demand in gold. Consequently an IN
vestors, bankers. and business men are
kent watching the regulations or the
gold balance in the Treasury.
There Is not gold enough IN the coun.
try II must De imported. BONDS musl
be sold our gold supply is estlma,ed az
some six hundred and quarter nlilons,
but that is a mere guess. Inc lrsasui , y
/ knows certainly only the s'ocn Oh 80 r
il and the national banks nave. Inc
/ boards Of misers. reported in the news
! nancrs. seem to be chiefly in greenDacks
/ IN is doubted whether our stock OF goin
] is oue-half the estimate. \ popular nome
| loan will not get the gold for greehDdcHN
redeeming because the country mas ll
not. The bonds must therefore De solu
| in Europe. II the process goes on loh-
enough. which is inconceiVable. our eoull
| try might be reduced 10 condluoh oil
6nauciaI seryitude such as some or inc
| South American states vel lilusTa ~
| whose real ministers OF hnance are the
| capitalists of Europe, , -.
''Countries which have delegated inc
control OF their finances ana currency
| have Welded the control OF their diplO-
! macy. Their executive and legislative au'
! thorities have submitted 10 d.ctation as
/ 10 what they can ana cannot br gelI"i''
! led to do. When we change our FORM OIL
| currency. which we assuredly must 40
| wnatcver the new form OF currency may
! be. the substitution Of the new Tor tnt
| old must be instantaneous, without us
| turbance to the financial and cOmmercla
! conditions Of the country. New iOih
| Times.