The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-01-21
Reeds Warm Reception at Gen.
trail Falls.
REPUBLICANS OF RHODE ISLAND
GATHERED In FORCE.
The Ex-Speaker Discussed the Currency
Question With Vigor-He Was Pre-
scented With a Token of Admiration by

Question With N1gOr-de was fre-
sented With a Token of Admiration by
the Lincoln Club.
Pawtuoket, January l9.-The reception
and banquet rendered by the Lincoln Re-
publican association of Central Falls to
United States Senator Nelson ". Aldrich
and Hon. Thomas B. Reed this evening was
d grand affair.
After the reception at Mr.. Conant's
house, all adjourned to the Cadets armory.
where the guests held another reception.
and from whence they marched over a
temporary bridge to the banquet hall in the
Falcs building.
The guests table was at the head of the
hall and. the room was lighted by arc lights,
which blended in harmony with the rich
decorations and potted plants.
When all were seated, Hon. E. Z. Free
man, as master of ceremonies, made few
remarks and the menu was then discussed.
Senator Aldrich was greeted with great
enthusiasm. He said in part:
1.-THE insupera BILE bar to the restoration of
confidence in this country. is the existence
of Democratic House of Representatives,
Senate and President. There can be 10
1IuI1inlAf0 iCSlcldtlOA DCHoll VI ZIG
Republican party until after the next presi-
Dental election. That fact might as we'll
be looked squarely in the face. After that
the great work of the Republican party will
be taken up bravely and carried on wisely.
Ex-Speaker Reed was the next speaker
and he proved the lion of the hour. He was
very warmly received. the entire audience
rising and app1auding vigorously. He spoke
fifteen minutes, was frequently interrupted
with applause and laughter, and, upon con-
Guiding, was greeted with prolonged ap-
plause. He said:
''The managers of the Democratic party
were not in very great favor with the people
of the United States prior to the assembling
of this last session of Congress in December,
was evidenced by the elections in November.
At that time # twas supposed that it would
be impossible for these gentlmemen to add
anything to the unfortunate reputation
which they had already earned. Neverthe-
less, since the first Monday in December
they have gilded the refined gold of their
previous reputation by new confession of
incompetence.
81 do not desire to say any words which
would seem to partake of the nature
scolding, or use any unkind words upon a
set of gentlemen on whom has been
showered the full power of the vocabulary
of our mother tongue. Such a course on my
part would be something that you would
not really expect. ase@s
son the other hand have no very great
desire to say words in praise of tho Republi-
can party, except SO far its past justifies
it that there is not the slightest necessity
If win u4b fIot
''ln my judgment it is going to be diff
cult and serious matter to make the changes
in the laws of our country which are
necessary to cause returning prosperity.
Those changes, in my judgment will not be
made upon the initiative Of any single man.
but will be the result of full discussion
and careful deision by the American people
in whose wisdom trust more than in the
wisdom of any man that I know.
*'The Democrats tried 10 strengthen out
the currency, and the method which they
adopted was a singular one. 1t was to add
to our present set of national banks an
other set of national banks running on
different principles, and set of state banks
different from both-a six-horse team on a
rough road, with no reins going to the
leaders. What wonder was it that that bill
toppled over the preoipice of universal dis
tress.
''Now what could have been the harm of
their trying the simple experiment which
Senator Aldrich has spoken of, of making
the revenue equal to the expenditures, and
removing another source of public distrust
by making the borrowing power to preserve
the gold reserve, which was on a five per
cent basis suitable at the time when it was
enacted suitable for the present time, by
lowering the rate of interest SO that it
could be negotiated to greater advantage,
and could also be the basis of national
banking as well. q
''Why could they not have supplemented
that by proposition, by a popular loan,
to make up for the deficiencies of revenue
until more revenue came in.
''Tnat last would have the effect of
enabling the people to see plainly just
where the difficulty was.
NOW people are mixing up the two
things, the lowering Of the gold reserve,
which is largely due to the deficiency of tn
revenue. with the credit of the country,
with the payment of demand notes when
they are represented; SO that the danger
seems to be multiplied by two, instead of
being separated and added together.
what would have been the difficulty in
Selling upon some subject of taxation tenn
porarily, because the country needed it,,
whether it was better or anything else, that
would yield then necessary revenue; and
for short time, couple of years, thing
which has not been infrequent in the
history Of this country for an emergency. 10
or Is per cent TO their own tariff for the
purpose of revenue.
Suppose that had been done. suppose it
is done now. for / hold that it is today just
as much their duty as it ever was--it seems
to me that the public credit would have re-
ceived a strengthening stroke and that the
Secretary of the Treasury and the President
OF the United States might have been at
more ease in their minds.''
Col. John C. Wyman of Lincoln was the
last speaker, and at the close of his remarks
he presented ex-Speaker Reed with gold
headed cane, the gift of the association.
Fought to Draw.