The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-21

o"S TWO SILVER Dollars With 1t,
bat They Don't Want to Rob the
People.
Covington, Ky, May 2O.-The secre-
tary of the United States treasury,
Hon. J. G. Carlisle. opened the discus
sion OF the question of sound money
mere tonight in a quaint structure
called Central Garden. The hall is in
the middle of the beer garden. 1t is
a theatre-like structure with a small
stage at one end, where the song and
dance artists are wont to enliven the
hours. The rush to hear the speaker
was tremendous. An attempt was
made TO reserve seats for ladies. but
II was given up when the pressure for
admission by voters was felt
The beginning of the address was
delayed by d street demonstrations OF
considerable magnitude. 1t was S:25
when the crowd at the doors parted
and Secretary Carlisle. escorted by
Congressman Berry and ACCOMPANIED
by M. b. ingalls, and General Michael
Ryan, assistant United States treas
urer, entered the hall. Shortly after
ward the working clubs entered to the
stirring airs by the band Of "Old
Kentucky Home and Dixie" fol-
lowed by the plaintive ''Auld Lang
Syne."
Twenty minutes later Hon. A. S.
Berry introduced the speaker in a.
brief speech, in which he paid a high
compliment to the man who under
most difficult circumstances had faith
fully administered his high office.
After tumult of applause again and
again repeated, Mr.. Carlisle began his
address.
Modest Disclaimers.
Mr.. Carlisle prefaced his remarks with
a brief introduction in which ne assured
his audience that I am not and do nor
expect to become a candidate for any
Office IN the gift of the people, or their
representatives, and that L do not appear
date.
There has never been a time" con-
tlnued the secretary, ''since the close Of
the civil war and the settlement of the
growing out of it, when passion
ana prejudice eXerted such a powerful
influence in controlling the action of the
people upon political and economic ques-
tlonS as they have during the last two
years n great wave of depression has
swept over the whole industrial, CONNER
clal and financial world. more injurious in
It's enecJS IN some places than in Others
but entailing great loss and distress near
~ everywhere. 1t did not begin twenty
years ago, as some of our friends are in
the the habit of asserting, but less than
were felt in Argentina. where the people
and the government, notwithstanding the
warnings of experience in all ages, de-
termined to try again the experiment of a
cheap and inflated currency"
Were Very Precarious.
The secretary reviewed the acts of the
last Republican administration and de
clared the present administration found
the financial affairs of the government in
2 most unsatisfactory and precariouS con-
1ition, and rapidly growing worse I'm
wise legislation had already produced it's
reV1t2ble results, and whatever criticism
the impatient spirit of q disappointed and
restless people may have prompted them
to make upon the present administration,
am sure impartial history will place the
Tor what has occurred
where it properly belongs, and 1 am will
ng to wait until it is written.
Whether we shall continue to preserve
Dur existing monetary system, under
which all the dollars in use, whether they
De gold, silver or paper, possess equal
vide by law Tor the free and unlimited
coinage of silver dollars containing Ape
grains of standard silver and make them
he units and measure of value in the
Of commodities and in the pay
nent eff debts, is by far the most i'm
9ortant question that has been presented
or the consideration of the American
people during this generation; and that
suggestion now confrOntS US.
Revolutionary POLICY
at is incumbent upon those who insist
ipon the adoption Of this revolutionary
policy to show plainly and conclusively
n advance not only that it would result
n no injury, but that it would be posi-
lively beneficial for if not positively
beneficial the change would at least be
Wholly useless. This cannot be done "
appeals TO the excited passions and pre-
udiceS of the people, by attempts to ar
'ay one class of our citizens or one sec
ion of our country against another, or
" the use of extravagant statements I'M
by facts and reasons The al
egation. even If 1t We're true, that great
riule was surreptuouSiy committed in
S73, or at any other time, does not prove,
II even conduce to prove, that the free
Oinag6 of silver at the ratio of Is to /
would be beneficial to the country under
he conditions now existing. But, gentle
men, it is not true that the act Of Feb
uary II, 1873, which made the gold dollar
he unit of value and dropped the stand
I'D silver dollar from the coinage, was
assed by stealth or that its purpose or
fleet was TO deprive the people OF the
Use of any coin then in use or then in
Existence In this country.
The Crime of '73.
'grhe plain truth is that this act of 1875.
Which has been the subject OF so much
and denunciation, was
imply a legal recognition of monetary
ondition which had existed i'll fact in this
ountry for about thirty-fve years, or
yer since q short time after the passage
f the coinage act of 1854. The value OF
he United States note or sgreenback was
ways measured by gold and not by sill
er, ana commoultleS ndo a Sooo price
nd a paper price, but never silver
rice, because silver, except the half
ollars, quarters and dimes coined under
he act of 1853, had been out of use here
Or more than twenty years before the
commencement of the war and even these
ubsidiary coins had not been in use for
leven years prior to 1878 Our cwn none
ary history had always furnished two
lost striking Illustrations of the opera
ion of the natural law under which the
oins which are over valued by statute
lways drive out of circulation the coins
rhich are under-valued. Our own ex-
erience had again demonstrated what
ne history of the world already showed
hat whenever the coinage laws of any
ountry permit the free coinage Of both
letals with full legal tender qualities at
ratio of value which does not conform
ubstantially to their intrinsic or COM
lercial ratio in the markets of the world.
9th kinds of coin cannot be kept in
REGULATION at the same time.
..Silyer Not Demonetized."