The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-20
CARLISLE on CURRENCY.
He Would Burn Greenbacks and Crush
the silver Movement.

He Would Burn Greenbacks and Crush
the silver Movement.
New York, Nov. 19.-The l27th annual
banquet of the Chamber Of Commerce OF
the state OF New York was held at Dell
moniCo's $ this evening. The yearly dinner
OF this organization is among the most
important events Of the metropolis, and
that OF tonight was no exception. The
chamber always musters notable speakers
and distinguished men around its board.
Dtterances thAt have moved the policy OF
the government have been made on these
occasions. and it Was at the end OF tha
chambers dinner that Secretary OF the
Treasury WIndom was stricken with sud-
den death a few years ago.
Covers We're set for 2i5 tonight, some OF
the prominent men present being; AT the
table with the president were seated Sec
retary Carlisle, Senator Burrows. Hon.
Judson Harmon, Mayor strong, Gen.
Thomas II. RuEer. Rev. Dr. NJ. ". Stryk-
er. Charles Emory Smith. Rear Admiral
Henry Erhan. Commodore Montgomery
Sicard James vi. Constable. Carl Schurz.
Horace White Murat ialstead. st. Clair
Mckelway, Charles Butler. The other
tables were presided over respectively by
Lowell Lincoln, Henry w Cannon. Hor-
ace Porter, j. T.. simmons George Rut-
ledge Gibson and Alfred -. Whitney.
The decorations We're striking. Back Of
President Orrs chair WAS the seal OF the
chamber. surmounted BY silk and gold
braided coat-of-arms Of the United States.
draped in American flags and tianked by
the seals Of the state and city Of New
York It was a little after o clock when
President orr, with the gaVei OF tho
chamber. raped for order and in a
brief speech, in which he referred 10 tbs
Armenian atrocities. introduced Secre-
tary Carlisle. who spoke on our Cur
rency system" He said:
'.Mr President and Gentlemen; j have
but little TO say this evening, and viii talks
but little time 20 say It. Two years aso
az your annual banquet said that the dis
position and the ability OF the government
to maintain its own credit al tho highest
standard and TO preserve the integrity OF
all The forms of currency in circulation
among the people could not be reasonably
doubted and ought not 70 he subject or
further controversy. But the task - hoth
difficult and expensive. Since that declara-
ton was made here interest bearing bonds
TO the amount OF St62.3i5.aoo have been is-
sued 10 procure gold for the redemption Of
United States notes The notes stu re-
main the same az the beginning. The
notes are redeemed. but they are unpaid
our legal standard Of value is as sound as
any country IN the world, and u we had
such a currency system as 10 guarantee its
permanent maintenance. no government
would command a larger credit or reailEe
greater benefits from u than ours, hhC
the great investors Of the world appreciate
tho dificulfies under which are labor
ing. and unt1 these difficulties are re-
moved we cannot reasonably hope 70 SEQ
perfect confidence restored at home or
abroad.
Tho fundamental vice in our currency
system is the legal tender note redeeinapis
in coin hy the government ana reissuapis
under the law. There are other detects,
but this threatens the stability Of ths
whole volume of oar currency. 80 long IS
these notes are outstanding the shgntest
dlrninutiou of the coin reserve AZ once eN-
cites q feeling Of Apprehension ana distrhst.
affects th. values OF all securities. curtahs
Investments and more or less - sttinatiesti-
ly embarrasses all the business ana.rs OF
the people In attempting 10 provide
circulating medium. consisting or It's own
notes redeemabe Ia coin on presentation
and relsauable after redemption ths gov
erurneuf OF the United States is engaged
I'm business for which 81 Is wholly UNITED
and which WAS never Tor moment con-
templated by It's founders. II has rlght
ia borrow money and Issue EVIDENCES OK
the debt. tut ii was never contemplated
that IL should convert itself nto q hahk
az issue. and furnisu legal tender paper
currency for lhe use of the people Ine
treasury department ought % be. and WAS
intended 10 be. simply public asehey Tor
tb4. management OF the fiscal affairs OF
the government 40 g0vefamsai, not as
bank"
mo change in our currency system VIII
aford relief unless IL provides for the re-
tirement of the legal tenders. The circula-
lion Of legal tenders has tendency 10
drive out Of use and out OF the country ihs
very coin in which the gDNernnent u COM
uellcd TO redeem them. and Us mas eA-
+,ella5 millions of dollars from our borders.
Although the government and our own
people are compelled 20 receive them thry
an not discharge International obligations.
and gold must so out to settle All mat
balances against us. No otn ner government
jn th. world is required 70 supply su4d
5r,.rn its treasury to discharge tho privats
oii.sa ions of itz citizens.
while the pecuniary loss % wnich ths
reonla have been subjected hy the iAsus
and continued circulation or legal tehdeF
t,.uer has been almost incalcuiable. tfAs
la uot been tns chief injury inflicted upon
ina country The theories that the govern
fpeut can create money BY placing ~
stamp upon paper or other materials; thas
: legislative enactment can make - cents
e<,usf in value 70 100 cents, that artiiciaity
inflated prices paid IA deprecated cur
reucy are better for the people tAan hatntai
rrfrts paid in a sound currency ana va
rio,ls other vsearles now floating Ike Duo
bles IN the political atmosphere. are ail a.
trthutaate 10 the iruE-cUut5nuc1 use OF
4eost tender paper T7ae proposition fntt Z
r,ror,1lae. of fhs government 10 pay money
4 money. Is just as absurd 80 the pf'lo-
stfi1n that a promise 20 denver H'+@
u a horse. and set there ere eminent men,
negb ln public councils, VINO believe inst =
T.rtfed s.ates prOgulss0ry note q aethaI
money srd that the statute wai7h COM
usls all the people 20 receive y az atioai
money b constitutional and ought 70 %
continued in force.
s-,r6e agitation for free coinage of legal
tender silver f. pred.cated upon toe Fans
vsrfouH prime pie that undeFEea the i"-sia-
istlsa fnaklag paper promises a legal ten
der. but there Il a practical difference De-
ty-eea the tao systems. The hnitfd
states note was n forced loan from tAs
peouia 10 the government which the gov
ernfnert promised 70 repay IN dollars. ofit
+se free coinage of Iexai tender silver ~
lie ratio Of Is 70 ] would he forced loan
from tne pe opie % tao owners 0i "HfFr
mines and SILVER bullion without a profnis5
u repayment by ANYBODY.
The campaign against the proposition