The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1895-11-22
FOR l6llD GIjRREHGY0HIY
Views Of Secretary Carlisle On the Monetary
Situation.
what He Regards as False Financial The
orIss-AmbiguOus Phrases in PsFty
Platforms aad Publie UsteF-
ances SHOULD ease.

NEW York, Nov. 2O-The 127th an
nual banquet Of the chamber of COM
merce of the state of New York was
held at Delmonico's last evening. The
yearly dinner of this organization is
among the most important events of
the metropolis. Utterances that have
moved the policy Of the government
have been made on these occa-
sions. It was somewhat after 0 o'clock
when President Orr, in brief speech,
introduced Secretary Carlisle, who
spoke on "Our Currency System"
have but little to say this evening, and will
take but little time TO say 1t. Two years ago,
at your annual banquet, 7 said that the dispo-
sition and ability Of the government to main-
tain It's own credit az the highest standard, and
to preserve the integrity Of all forms Of cur
rency in circulation among the people, could
not be reasonably doubted and ought not to be
the subject OF further controversy. But the
task is both difficult and expensive Since that
declaration was made here, interest bearing
bonds to the amount Of sl62, 315, 100 have been
issued TO procure gold for the redemption Of
the United States notes.
The fundamental vice in our currency sys-
TEN is the legal tender note redeemable in
coin by the government and reasonable under
the law. There are other defects, but this
theatens the stability Of the whole volume
Of our currency. So long as these notes
are outstanding the slightest dlminUtioG OF
the coin reserve at once eXe!tes a feeling OF
apprehension and distrust, Affects the values
OF all securities, curtails investments and
more or less seriously embarrasses all the
business affairs OF the people. In attempting to
provide circulating medium consisting Of its
own notes redeemaDle in coin on presentation
and FeissGable after redemption, the govern
ment Of the United States is engaged in q
business for which it is wholly untitled and
which was never for moment contemplated
by its founders.
No changes made In our currency system will
afford relief unless it provides for the retire.
ment Of the legal tenders.
The circulation OF legal tenders has ten
dency to drive out Of use and ont OF she coun-
try the very coin Ia which the government is
compelled to redeem them: and 1t has expelled
millions Of dollars from our borders. Although
the government and our own people are COM
PEELED to receive them, they viii not discharge
international obligations, and gold must be got
to settle all final balances against us. No
other government in the world is required TO
supply gold from its treasury to discharge the
private obligations Of its citizens,
The theories that the government can create
money by placing its stamp upon paper or
other material that legislative enactment
can make 80 cents equal In value TO 100 cents;
that artifCially inflated prices paid in a depre-
eiatel currency are better for the people than
v--gE IL
various other vagaries now flowing like bub-
bles in the political atmosphere are ali attFib-
utable to the long continued use Of legal ten
der paper, The proposition that promise Of
the government to pay money is money, Is
just as absurd as is the proposition that a
promise to deliver a horse is horse, and yet
there are eminent men high in public eoun-
CHS who believe that the United States
prOmissory note is actual money, and that the
statute which compelS all the people to re-
ceiVe it as actual money is constitutional
and ought to be continued In force. The agl-
tatI0n for the free coinage Of legal tender
silver is predicated upon the same vicious
principle that underlies the legislation max
ing paper promises a legal tender; put there Is
a practical difference between the two sys-
tens The United States note was O forced
loan from the people to the government, which
the government promised to repay In dollars,
but the free coinage of 10 gal tender silver at
the ratio of Is to would be forced loan from
the people to the owners Of silver mines and
silver bullion without a promise OF repayment
by anybody,
Much of our financial trouble has been
caused by doubt and speculation here and
abroad, concerning the views and purposes of
our people Ut large and the policies Of the pO-
ltical parties to which they are attached This
is a government by parties, and investors
watch with the greatest interest and solicitude
every manifestation of popular opinion, es-
pecially changes to be made in the chief execu-
tive Office 1t is Of vast Importance
that these doubts and speculations
should be set at rest In order that
the world may certainly know what
is to be our permanent monetary policy,
Vague and indefinite declarations by the great
political organizations Of the country not only
increase doubt and diStrust abroad but en-
courage harmful agitation at home, and mold,
Therefore, that 1t is the duty Of oil who are or
may become in any degree responsible for the
welfare OF the country to insist that there shall
be no further eQuiv0cation or evasion in our
treatment of this great subject
Let us have no more ambiguous phrases, no
UtSib AHNNloi1kcut anu iAASNuANAAsbAG NtOuSUo
in party platforms OF in public utterances, but
let US make cur meaning so clear and our pur-
poses so plain that they can be neither mis-
understood nor successfully misTepreSented
II majority Of the people Of the United States
are ia favor Of the maintenance Of the present
standard Of value, they ought 70 have an op-
poFtHnity TO say so On the other hand, II ma
, iority Of our people are in favor of abandoning
the present standard Of value and establishing
silver recommendation, they should have an OPP
portunity to say that When this issue is pre-
scented we need not fear the result Such an
appeal TO common sense, the commercial in
tegrity and The national pride Of our people
will not he in vain, and when the contest is
over the question will be finally and o0nolu-
sively settled in accordance With the general
judgment Of the most advanced nations end
the real interests Of cur own country.
THE WALLER CASE.