The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-11-20

paper promises a legal tender; but
there Is practical difference between
| the two systems. The United States
note was forced loan from the people
to the government, which the govern
ment promised to repay in dollars, but
| the free coinage of legal tender silver
at the ratio of 16 to L would be a forced
| loan from the people to the owners Of
silver mines and silver bullion without
a promise of repayment by anybody.
GoIdbug Throughout.
The campaign against the PROPOSE
| ton to debase our standard of value
should not be abandoned or suspended.
Ii the friends of sound and stable
measure of value are vigilant and ac-
tive, this effort cannot possibly succeed
and the question viii soon recede from
public view. But the United States le-
gal tender note will remain to compli-
cate the currency system and embar-
rasS the government. In my opinion
| legislation in this direction at the ear
hest possible day is imperatively de-
manded by every substantial interest
IN the country, and its postponement
upon any preteXt as d political expe-
/ diency or upon the assumption in ad-
vance that no satisfactory results can
be accomplished, would be very
grave mistake.
troll the trade of any considerable part
of the world unless it's exchanges are
based upon standard of value recog-
hlZed as sound as in all the centers of
commerce.
The pound sterling has made London
not only the principal market, but the
clearing house of the whole world. Eng
land not only realizes great profit from
the international trade of all other coun-
trles; With an inferior currency we
could never successfully contest her SUI
premacy and the belief that we can pun
lsh her or enrich ourselves by DESTROYING
the value of our own money is one OF
Inc most remarkable decisions of the
age.
By Speculation.
Much of our financial trouble has been
caused by doubt ana speculation. here
and abroad, concerning the views and
purposes OF our people at large and the
policies of the political parties to which
they are attached. This is a government
by parties, and investors watch with the
greatest interest and soiicitude every
manifestation of popular opinion, eSpec-
ldily when changes are to be made IN
i tae chlef executive Office. 1t is of vast
Importance. that these doubts and Specu-
Iauons should be set at rest in order that
me world may certainly know what is
10 be our permanent monetary policy,
vague and indefinite declarations by the
great political organizations of the coun-
Try not only increase doubt and distress
abroad, but encourage harmful agitation
at nome and hold. therefore, that it
Is the duty OF all who are or may become
IN any degree responsible for the well
fare of the country to insist that shere
snail be no further eQuivocation or eyas-
ION In our treatment of this subject. Let
US nave no more ambiguous phrases no
more inconsistent and irTeconcilable
clauses in party platforms or in public
utterances. but let us make our meaning
clear and our purpose so plain that they
m
ceSSfully miSrepreSented. If a majority
of the people of the United States are in
favor OF the maintenance of the present
standard of value, they ought to have an
opportunity to say so. On the other HAND
II majority of our people are in favor or
abandoning the present standard of value
and establishing silver recommendation,
they should have an opportunity to say
that. When this issue is directly pre-
sented we need not fear the result Such
All appeal to the common sense, the COM
mon integrity and the national pride of
our people will not be in vain and when
the contest is over the question will be
finally and conclusiyely settled in ac-
cordance with the general Judgment of
interests Of our country
Secretary Carlisle's speech was fire.
quently applauded. He was followed by
Senator J. c.. Burrows, of Michigan, who
spoke on Our Domestic Commerce"
Burrows at 1t.
senator burrows SAID, IN substance,
that the question of trade is closely in
terwoven with our whole national life
1t was the cause of the revolt of the
colonies and potent factor in the es-
enlistment "a OF our constitution The con-
hicting regulations of the several states
OF the confederation crippled commerce
and jealousy was engendered that brought
the states to the verge of civil war IN
the light of history it could not be assert
ed that our national government sprang
from commercial necessity more than
from any other single cause, or all other
causes combined. 1t was not surprising
after eight years experience with the
confederation to find the trainers of the
constitution stripping the states of all
authority on the subject of commerce and
expressly comforting on the national gov
eminent the power TO regulate commerce
with foreign nations and among the sew
eral states the relation of our foreign
and domestic trade has been steadily pur-
sued since then in appropriate Iegisla-
ton. The limit of the power thus con-
ferred had probably never been reached
or definitely determined That it was
supreme within the limits of the consti-
tuition and commensurate with the re-
quirements of trade is beyond contro~
versy. 1t was a power sufficiently COM
prehensive to embrace not only the oh
iects and instrumentalities of commerce
but to construct, oversee and make safe
the highways over which that commerce
moves. He continued:
In taking from the states all control
exclusively
in the national government, state lines
were swept away and a national high
way across the continent was opened up,
With trade absolutely unshackled. is il
any wonder our domestic commerce had
alta med rsroDortions which is the marvel
OF the age?"
He quoted figures showing the growth
of American business and concluded "Ir
this supply of our domestic production
shall exceed demands of domestic con-
sumption, let us find d way under reci-
procity to secure foreign markets with
out impairing or surrendering our own,
turning our attention to the 55,000,000 on
the hemisphere to the south of us I'M
furling our flag in every part of Central
and South America, piercing the barriers
between the two oceans, with a. new high
way OF commerce open to the sea, and
penetrating. the centers of South Ameri-
way.
Charles Emory Smith.
Charles Emory Smith, of Philadelphia.
speaker, his toast being National De-
veIopment land Opportunity"
Ours is a land of fullness IND not of
famine Providence has lowered us with
matchleSS opportunity and the worlds
evolution unfods before us the crown
ing destiny of mankind. In a hundred
years marvellous growth has advanced
our country from ALMOST nothing until
today it possesses more. than one-fifth Of
all the wealth OF all the world
In the two decades from 1870 to 1890
the three mighty powers of Great Brit.
ain. France and Germany, all combined.
with their 1250OO,G0O people. gained in
wealth $4,000, OO0OG0, while the United
States. alone with its 60,oOOOOO people,
gained 1898. 900, 1900. The United States
earns two-thirds as much as all the
other three put together.
/. In 1860, the produce of our manufac-
frrra 10 f-nr1 I1o1f IS