St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-10-13

shaking, and shortly after o'clock
those present filed into the large
banquet room. The guest of the
evening sat on the right of the
president of the club, George S. Hale.
At the same table were Collector
Winslow Warren, G. Austin Browne,
Postmaster Coveney, First Assistant
Secretary Of the Treasury c. S. Ham
lin, Hon. John E. Russell, Prof.
Charles Eliot Norton, Commander
Greene, U. S. N; Gen. Francis A.
Walker and Prof. H. S. Shaler, of
Harvard. At the conclusion of the
banquet President Hale raped for
order.
eve are Democrats with Grover
Cleveland" he said, "and Repub-
licans with Teddy Roosevelt. Some
times we are Republicans with Ed
munds, sometimes with Sherman,
and even with Greenhalge. We take
our property wherever we find it;
but we sometimes reject bad mate
rial"
Mr.. Hale read letters of regret
from Carl Schurz, John re Witt
Warner, of New York; Senator Hoar,
Gov. Greenhalge, Lyman J. Cage, of
Chicago; Chief Justice Fuller and
many others. The principal guest
of the evening was then in.- -oduced
He was received with thrne cheers,
led by c. Austin Browne. Secretary
Carlisle spoke as follows:
LOST ITS GRIP.
The free coinage movement has
lost its momentum, and is 40 longer
formidable or aggressive. 1t would not
be correct to say that the contest is
over, because the sentiment in favor
of the free coinage of silver is still
quite strong in some parts of the coun-
try, but it is not strong enough to ex-
ert controlling influence in the coun-
ellis of either of the great political par
ties, and without this it can accom-
pl1sh nothing in the form of legislation
or in the determination of administra-
tive policy. One of the most important
questions the people have now 10 con-
slider is whether they can afford to ad-
| here longer to system which period
! ically augments the public debt for the
purpose of securing gold to be ex-
| changed for notes, which when re-
| deemed are not retired Gnd Cancelled,
| but are reiSSued and put in circulation.
| to be over and over again presented
| for redemption. So far as the merits
| of this single question are affected, it
| is immaterial whether our standard
| of value is to be gold or silver, because
! the coin for redemption purposes
! whether it be gold coin or silver coin,
| NUT be provided by the government,
| and 1t calI be procured only by the sale
| of bonds. The free coinageN Nf silver
! on account of and for the benefits of
| the owner of the bullion does not,
| therefore, enter into the discussion of
| this particular question. Such pol
| icy would not give the government any
| silver except what it would receive in
| the ordinary way as a part of its rev.
| enues. 1t would provide no fund for
| redemption purposes, unless We should
have surplus revenue.
| whether we continue to maintain
the gold standard of value or debase
| our currency to the silver standard,
the obligation of the government to
redeem its notes in coin on presenta-
| ton will remain, and, consequently,
/ the question whether the notes when
| redeemed shall be retired and fan
| celed or reiSsued is one which cannot
| be avoided or settled by a change~i In
| our coinage laws. 1t must be settled
| by legislation in another direction, and
| the advocates of free coinage of silver
! at 16 to l, or at any other ratio are as
| much interested in it's correct solution
| as the opponents of that policy
THE FIRST BLCNDEn
"The, first great mistake IN .s=sr CIR
! rency legislation was made .----~a
| of March II, 1882, which pu NJ
secretary of the treasury 10