The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-03

up with ball and banquet. at which a
large chunk of Billy Bottoms oratory is
scheduled.
Lee Stewart and Miss Alice Chancellor
stole a march on their parents the other
day at Ardmore and got married. The
parents wanted them 10 wait until they
get older before they married.
INGALLS, ON SILVER.
Much has been said by the public press
of the speech made by ex-senator ingalls,
at the great meeting of the veterans Of
the Union army al Norton, Kan, two
weeks since. The report of his speech. as
published in the Kansas City papers is in
accurate in many important particulars.
II is well known by all the people of
Kansas that Mr.. ingalls, is candidate for
Reelection to the United States senate.
This fact adds fresh interest TO whatever
he may utter in a public speech bearing
upon political questions. II is an incident
OF politics that the utterances of candid
ate for public office are often misquoted
and misrepresented by the partisan press
for the purpose of injuring the candidate
Such methods are not honorable. but they
are the common weapons of political war
fare.
Whatever Mr.. ingalls, says Is widely
quoted because of his long experience in the
senate, his familiarity with public affairs
and his world wide fame as an orator. At
this critical period in American history,
when the financial situation is the real.
absorbing question in politics. the position
Of Mr.. ingalls, upon that issue is Of inter-
est not only to the people of Kansas. but
to those Of all the United States, therefore
We present herewith the exact words used
by Mr.. ingalls, bearing upon the silver is
sue. in his famous speech at Norton, two
weeks ago. 1t will be observed that Mr..
Ingalls, is intensely American in his ideas
and that his position upon the silver Ques-
ton is not only right and absolutely i'm
pragnable, but it is in hearty accord with
the time honored policy Of the Republican
party and in sympathy with the patriotic
sentiment and sincere belief of the great
majority Of American voters. Mr.. ingalls,
said:
you have been told many times in the
past four years that your business, depres
sion was due to a want of confidence on
the part of the people in their circulating
medium, and congress was hastily called
IN special session to repeal the purchasing
clause of the Sherman act and stop the
coinage of silver as a remedy.
My observation has been that since 1899
the money of the United States has been
the only thing in which the people have
had any confidence at all, and IL the
promised prosperity which was to follow
the destruction Of silver has come to pass,
ii has thus far evaded the minutest scru-
tiny.
Whenever, in any country, there is a
want of confidence in its circulating me-
dunn, the medium circulates with great
activity. Suspected currency is never
boarded as ours has been for the past
four years. There was time in the
south when the rebels began to have a
want of confidence in their currency. 1t
was payable, you remember, whenever
the independence of the Confederacy
shoId be recognized by the United States
That event seemed less and less likely TO
occur on account of certain transactions
in which Grant and Sherman and others
participated. and those Of you who can
recall that period will remember that Con
federate money was not withdrawn from
circulation and boarded in banks and safe
deposit vaults. AS the story was told, q
man went to market with his money in a
basket and came home with his purchases
in his vest pocket.
Let me say further that legislation can
confer no purchasing power upon money.
The purchasing power of money is purely
a matter of contract between individuals
No government can confer any function
upon money TO purchase a commodity
which the owner does not wish to sell.
All that king or congress can do is to en-
act that if a sale has been made that a
certain number of grains Of gold or sill
Yer. bearing the necessary superscrip-
ton. shall discharge the obligation. All
that the people of the United States want
of a dollar. whether of gold. silver or pa
per is that it shall pay 100 cents Of debt.
There is no international money. any
more than there is universal language.
The money of every people is domestic
concern. Each nation establishes a none
tary system that is adapted to its needs
and activities and productions. The in
slant money crosses from tier 1t ceases to
be money and becomes commodity. The
millions Of gold that have been exported
in the past few months from our treasury
have crossed the ocean as merchandise.
like pork, wheat or petroleum. They have
been accounted for in the vaults and a
the counters OF the money changers by
weight and not by coinage. twenty dol
lar gold piece Will pay no debt in London
unless exchanged into coin of the realm,
and an English sovereign or a French Ma
poleon is not good for a cigar or a hack
fare on Broadway.
France has seven hundred million OF
full legal tender silver and is the most
properous nation In Europe. England has
no bank note less than twenty-five dollars
and transacts the bulk of her retail bust
ness in silver at her own ratio. None OF
the great powers have asked our permits
sion nor the consent of each other. TO
establish whatever money system they
thought best for their own interest. What
we need in this country is the revival Of
a distinct. robust. aggressive American
ism, the spirit Of the heroes of 30 and 81.
We are the richest. the most popuious
and powerful OF Christian nations. No
other people have asked US what they
might do with their finance and we are
strong enough 10 establish ours without
asking them.
Look for a moment a: our present con-
ditlou. We have outstanding $40. 90 GO
greer backs. protected by q reserve fund
OF si0c. on 90 in gold in the trea sury. These
Ereenbacks can be presented for redemp-
ton, Immediately r.isSued and presented
again for redemption as often as greed
credit OF the nation profitable We have
brf5ed foreign syndicate 70 protect the
reserve till Oct ]. ~ selling them az 5o4.
national bonds that are worth IL in the
market OF the world Our revenues are
falling behind millions every month, and
gold is going abroad BY every steamer.
We have a circulating medium that Il
fixed and rigid, with 70 elasticity or ex-
panslon- The coinage OF silver Is stop
ye6. The national banks have curtaiied |
their circulation Gold IS .ssus6 Only for sx 1
rhanges OF nations. VIII q Population IN