The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-05-03
That Is What He Styles the
Movement to Secure a
Free Coinage.
DESIRES A COMPLETE CHANGE.
Just What Is Meant by This Is Not
Clearly Explained by the Talk
alive Official.


$50 business men of Detroit and their
guests of the evening enjoyed the banquet
given at the Hotel Cadillac tonight in
celebration of the completion and dedica-
ton of the new Detroit Chamber of Com
merce. After upward of an hours discus
sion of the elaborate menu the company
listened to exceptionally able discussions
of interesting subjects to the commercial
world by representatives of leading bust
ness and financial interests of the country.
The guests were welcomed by Rufus w.
Gillett, president of the Detroit Chamber
of Commerce, ex-senator Thomas W.
Palmer presiding happily as POSTMASTER.
The first toast was eloquently responded
to by the Hon. w. C. Maybury of Detroit
His subject was mo North, No South, No
East, No West, but the Commercial Su-
premacy of Great Nation"
Commerce of the Inland Seas" was re-
sponded to by Harvey D. Goulder, chief
counsel of the Lake Carriers Association.
On the subject of ''The Currency" Comp
troller Eckels said:
1t is impossible within the brief limits of q
conventional after-dinner address to do more
than touch upon the sentiment which has just
been announced, and to which 1 am asked to
respond. ! shall therefore content myself with
giving expression to such general views as
seem to me to be pertinent to a single phase of
the currency question, as it to-day engages
public thought and commands the peoples at
tention. am sure all will agree that it is the
most important problem with which the ex-
ecutive and legislative branches of the Gov
eminent have now to deal, and as such de-
mands that there be brought to bear to its
solution a craftsmanship as wise as it is pstri-
otto, and as honest as it is wise. II involves
too great interests and is too farreaching in its
effects to be considered from any other stand
point than the desire to reach such conclu-
sions as viii work out the best results to this
land, in which the wealth, the happiness, the
aspirations OF every patriotic American CEN
ter.
Its discussion has been precipitated at time
when the country is emerging from period of
financial and commercial depression, wide
spread and of long-eontinued duration. 1t
finds every avenue OF trade giving evidence OF
renewed activity; mill and factory again in
operation, and agriculture promising to those
engaged in its pursuit abundant harvests and
approaching prices. It presses itself upon the
laborer now no longer idle but busy with the
employment which has come with the settle
ment of questions which have long YeXed the
public mind and after ample demonstration of
the ability of the Government to maintain IN
tainted the public faith and the Nations
credit. If under such circumstances the cause
of those whe stand against the schemes pro-
posed to rid by means Of law people from
making proper payment of their Just debts ana
give them riches through legislative action
cannot be sustained, the experience of all
monetary history viii be reversed. If this con-
test should end otherwise than in the triumph
of that which is right in theory and sound in
principle it will be because the American peo-
pie have lost much of that good sense and
honesty which, q great writer declared, though
sometimes permitting an agitation for some
thing wrong and mischievous, always when
the danger point is reached brings forth mass
of opinions which, though ordinarily quies-
cent, at such times forces itself into activity,
puts down the wrong thing and peremptorily
demands the right thing instead.
believe we have come to point in this dis
eussion of our monetary system and agitation
for complete change in our standard of
value when this mass of opinion should not
only be aroused but should make itself an &C
tive force in putting an end TO the currency
vagaries of which the free silver movement as
to-day presented is the elimination, Ii COM
mercial and industrial revival is to continue,
recurring loss TO every citizen be prevented,
national and individual financial credit and
integrity maintained and ultimate disaster
averted, there must be no longer spirit of
hesitation in those who know the beneful
effects of the thing proposed. There can be no
political ends to be served, no party consider
stions TO be advanced OF sufficient import to
warrant any man in long debating as to the
position he sh ould take when the financial
honor of his country is at stake and the pros
perity of q great people threatened. Here at
least is no room for party and no place for the
Vaccinations OF designing politicians or arrant
demsgogues.
The American people cannot too quickly rec
ognize that they are in the midst of a proga-
ganda skillfully and zeslously being carried on
with the end in view Of revoIutionizing the
eountry's existing monetary system. Those
who now direct the free-saTer idea, map out
the policy OF its advocates and control their
action, have ceased playing with words and
put from them the professions which hereto
fore have characterized their utterances when
urging the cause for which they have stood.
Their demand today, Interpreted in the light
of their acts, is that the United States shall at
once abandon its present standard OF value and
substitute therefore, Irrespective and without
the cooperation OF any other country, a single
silver standard. Nowhere is It suggested by
the sponsors for this latest tenet in the silver
creed that this nation shall even undertake to
maintain at home double standard. No
where is there promise given of an attempt
through International agreement to make
every dollar Of silver which shall be coined the
equal in value of every dollar Of gold which
comes in the mint and fairly interchangeable
Herewith. They no longer give recognition tc
the fact, attested by every monetary union
formed and conference held, that no nation
can isolate itself from those with which it has
commercial dealings and maintain, indie
pendent of them "a distinctive standard ofvalue
It's not even designed that the dollar coined
shall approach in intrinsic value the value
which it purports tolcarry instead ratio shall
exist between coins of the same denomination
which is incorrect and untrue. The position
which they now assume of necessity eliminate:
from their ranks all who heretofore have strug
gled to bring about larger use of silver in the
country's currency at an increased ratio an6
drives into the camp of the opposition every
honest champion of international bimetallism
The plan laid is of their own making, the issue
of their own choosing, and in the face OF theil
acts the believer in the single gold standard
and the believer I'm a standard of both golt
and silver should give them neither aid MOI
succor. They challenge the one and repudiatt
the other, and from both should come united
opposition.
The contention which is now made by thu
single silver standard adherents reduced to it
Ine lugtu L. fl,, NIL