The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-07-11
BANKERS DISCUSS SILVER,
Its Champions Termed "BIath-
erSkiteS" and Foes of
Prosperity.
Brayton Ives Defense of the Presl-
dent and the Recent Bond
Issue.

SARATOGA, n. Y, July 10.-Millions
of dollars were represented by the inan-
ciers OF the State assembled here to attend
the second annual convention of the
State Bankers Association. The opening
session was held at 2:30 clock this after
noon, being called to order by President
Cornwell. Prayer was offered by Rev. DR..
Joseph Carey, rector of Bethesda Episco-
pal Church, after which President Corn
well delivered the annual address.
The speeches by Treasurer James o.
Cannon, B. E. Walker of Canada and
Brayton Ives were all devoted aga inst the
silver movement. Ives said:
It is nearly score OF years since financial
transaction of the Government has aroused so
much discussion and called out so many ex-
pressions, both of approval and of criticism, as
the recent sale of bonds TO a syndicate of
American and foreign bankers In view of all
the conditions this widespread interest is not
and ''greenpacks'' during the war people took
them with full confidence that the Govern
ment would not only pay them when able but
would pay them in gold. Although the word
ton it was known to both our own citizens and
foreigners that ''coin" meant gold. On the re-
sumption ofspecie payments this meaning was
made known 10 all the world, and the three
years Immediately following were the most
prosperous this country has ever experienced.
Until the free silver men came to the front
no one at home or abroad doubted the intention
or the ability OF the Government to meet its
obligations in gold. 1t is safe to say that the
embarrassment of the Government in this
crisis was due solely to their efforts. Their
vehement demands that silver should be given,
by arbitrary legal enactment, the same debt
paying power as gold in the ratio of 1515 to
when the market ratio was 33 to i shook the
faith OF foreigners, as it well might, in our
Nations honesty. That they should have been
aided by others in Congress for political or
personal reasons is disgrace 10 those render
Ing such aid. The President was working man.
fully to maintain the honor of the country
while the majority in Congress was struggling
to besmirch 1T. The few high-minded and
public-spirited men who sustained Mr.. Cleve-
land were borne down by the blatherskite poll
ticians who sought their own success regard
less of the Nations danger.
In conclusion Mr.. Ives said regarding the
recent bond issue:
The power of the free silver men has passed
its zenith They still boast and swagger but
will dare to go before the country with a free
silver plank in its platform. The benefits al
ready brought by the triumph of honest money
are too pleasant to be exchanged for the gloom
which has marked the years in which the par
tisans OF free silver have blocked progress. And
when the country shall have outgrown this
stupid and wicked heresy and reached condi-
ton Of wealth and prosperity which is its nat
ura heritage, II is altogether probable that this
sale of bonds involving these great principles
will be seen to have marked the point where
the people shook off both depression and op-
preston and declared in favor of common hon
esty and sound financial policy.