Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1895-11-23
OUR CURRENCY.
Secretary oat.islss ebeeoh Al q
New York Banquet seed
what ITO RskafasAs the fandauaehta Stss
In Dor Currency sSsten-The Cause
OF oar FthanssAi Troubles
y'esitAcai Platforms.

Of oar FthanssA, Troubles
yeslticAi Platforms.
NEw YoRx, Nov, G.LThe le7th an
nual banquet of the chamber OF COM
uefrr OF the state Of New York was
held ut Delmonico's last evening. Tho
yearly dinner OF this organization IA
among the most Important events OF
the metropolis. Utterances that navs
moved the policy OF the governhient
have been made cs these occa-
sions 1t was somewhat after O'Clock
when President Orr, Ia d brief speech,
introduced SECRETARY Carlisle, who
spoke on aoe, Currency System"
Aas~ nut little To say this ovsn'rS and will
tahr but little time TO saw -. Two years ago,
MT your annual bs-s.aet, said that the dispo-
stlon m scilitv OF the government To main.
tale ~ own credit Mt the highest standard. and
TO preserve the integrity OF all forms w cw.
rcncy In circulation amopf Nre W6ple, could
not be reasonably aaShted and ought not to DO
tho subject Vt farther controversy. But tho
task n both dificult and expensive. Since thss
declaration vas ma 10 here. intsrcs''Staring
bonds 10 tho amount Of fies SIS. ivO have been
issued TO procure geld Tor the redemption OF
the United STATES notes
Tho fundamental vice In our currency avs,
ten IL the legal tender note rcdeen,asi6 u
coin by the government and rtIssaabS Nader
the law. There arc stket tc!ecls. but this
th5atc1s the s,Ablty Of the whole volume
OF our currently. So long rs these notes
are outstanding the slightest diminution Of
the coin reserve ut once cxcites feeling "
apprehension and dlstrust. Affects the SaiuF&
Of aii securities. curtatls investHAsum and
more or loss SERIOUSLY eTsAaffasses oil the
business aaairs cftse people. In attempting 10
provide A circulating medium consisting OF Its
ews notes redecmaple In coin on presontatios
ind reasonable after redemption, the yostr~'
ment OF the United States y eSsaSrd III
business for which n Is Wholly untitled and
which was newer TOT moment contemplated
by It's fraadcfs.
No changes made In our currency system VIII
AFFORD relief unless 1t provides for the Ntife-
ment Of the legal tenders
Tho circulation OF legal tenders mas TN:
dency TO drive out 0f use and out az tAs eHah.
try the worry coin Ia which thv government IL
compelled To redeem shc.s.: and II has expelled
millions 81 de!iaes from our borders Although
the gcvefnmcnt and our own people are ,co'N'
rc,led to receive them. they VIII ~ a'scnarge
international obligations ard sold must be got
TO settle nll iina, tAlaaces against ny. No
other gcvrrr meat In the world is required 10
supply gola from It's treasury to discharge Ne
private obligations OF Its citipens.
the theories that the soyeSAy sa. Can create
money by placing I've STAMP upon paper or
other material: That o legislative enactment
can mako 10 cents equal In value to I0) cents
that artilcially inflated prices paid In depfs;
ciatcI currency are better for the people TINY
natural prices, paid In \ tcund GurfrNcs aR1
various other vasarlcs ho& ~owins like hub.
blcs In the political atmosphere arc oil attrib-
ut,plc 10 TAO hong continued use OF legal ten.
der plpcr Tho proposition that promise Of
the government to pay money is me.sy, u
just rs absurd rs Is tha Prar'.-it!6n That o
promise TO deliver hcfse Is horse. and yet
there are eminens men high In public coun-
ellis who believe that the United Sta.c-
pf0missory note Is actual money ar! That the
statute which compels 81. inc people to re-
ccive It ~ aetss, money IL constitutional
and ought 20 he continued In force. Tho agi-
tauca for the free coinage of legal tender
Silver Is predicated upon the same sie!ous
principle that undcrtes tho legislation max.
Ing paper promises legal tender. but there Is
q practical difference between the two sys.
tens The United States note was fcsccd
loan from the people TO the Roverrnicnt, which
the government propiscd 10 reray In dollars,
but the free cc;hage Of eeal tender silver OF
the rs,to OF 10 70 would DO forced loan from
the people to the owners OF silver mines and
silver bullion without promise OF repasiHcht
by anybody.
Much Of our aRahslal trouble has been
causei ny doubt and speculation hero and
abroad. concerning the views and purposes OF
our pcople at large AMI the policies Of the po-
litlcal parties TO which they are attached. Teis
is q government by PARTIES; And Investors
watch with the greatest inteFSht and solicitude
every manIfestatira " popular opinion, es-
peciclls shahses TO be made In the chief execu-
tisu ONCE II Is Of vast Importance
that these doubts ani spoculutions
should he set ut rest In order that
the world may certainly know wAat
Is TO DO our permanent meHcsary policy.
Vague and indenhiln declarations by the great
political urtaAisst!ohs OF the country not only
ihrrease doubt and distrust abroad, but on
courage harmful agitation ut home. and hold,
therefore. that Il Is the duty OF all who sic Or
may become in my desre. responsible for the
welfare Of the poan,Fy 10 insist that there shall
be no Nr,her equivocation or evasion In our
treatment o; this great subisit
Let US have no mere ambiguous phrases no
moro Inconsistent and irrepcncilaDle clauses
In party platforms ar In public utteranccs, but
let US make CDR Meaning 40 clear and our pur-
porra 50 plain that they can be neither mis- .
Understood nor successfully misrepresented
II q majority Of the people OF the United States
nrc In favor OF the maintenance Uf the present
standard OF value, tbry ought 10 have m OPP
portunlty to say 50. On the other hand, II a ma
iorty uf our people are In favor Of abandoning
the present standard Of value and establishing
silver monomotallism. they should have an op.
nOrtllnltv In that "A Ian tlla igati0 lg