New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-11
MIR. MILLER MAKES SlkoN" - 'i''

MR. MILLER MAKES A STRONG SPEr'' H.
THE PALACES OF THE SILVER PROPA-
GANDA CLARLY SHOWN.
Ex-senator Warner Miller was the next speaker
and in describing Him as one OF ,ne sie"' Ts,,on
OF the Republican party in the State ana N"'V''
tho chairman was thoroughly in accord with '''e
feelings OF the audience Three cheers iof the en-
Senator were called for by Mr. PaVey' anu re-
snonded TO with a vehemence ana sincerity 'ndt -
not often eoualled even in Cooper Union. WIZ"
incisive and forcible argument the eN-Seha'ol "o'
oughly dssected some OF the doctrines u Dis "''
and showed his audience the fallaces OF the Aee-
silver propaganda. lie said;
Mr. Chairman. Ladies and Gentlemen II gives
me great pleasure to be called upon 10 spe'h ~
an audience composed chiefly Of workngmen. VINO
~ n co 90 are more deeply Interested IN me boou
order OF society and In the CROWN ana plo9prams
Of the country than any other. Capital can pro-
tect Itself if in the form of money it can trans
port itself Of the country IN cap, VI i ks
ioborar is himself his muscle his deX'eftly, M
ability TO transform raw products INTO hlhhuIao
tured articles: his brain. his inventive s'iluS, w.
these nualfics in order TO make any return mus,
ba employed and every day spent IN idleness Tor
lack of employment makes no return upon III.
nani, al invested Labor draws no interest except
when employed But in speaking TO YOU '',t'
prefer 10 speak 10 you as American 'l'nes.;; -
noring all canga ana GOOD S ctiHens we
are first loyal Americans. bound TO sustain ana
support institutions and or ,'G,snc %
bc Gathered in America to-day. the large majority
Of which will not be- composed Ol wo'Ne Tho - hest
which through its wise legislation ana hones, az
minstratlon Of public affairs gives tne rST hor cp
living and a surplus which may be laid ASIDE LOT
support in declining years ,c. Of enploy nent in
the country Tens of thousands OF s'3Iwa ,, Norn
crs are without demand for thHr skill Nm t,ns
closed or running upon short Time. u,tat u,,l
portation companies are dong SIhuh n@ s ,boir
and are compelled to lay off yer! many 81 d h
OfD }
ali the political parties Upon this GroStlp b f fncs
is no dispute difference Of opinion ne i,G
diner radically to the cause of the hard ii h
and to the remedy to be aPper twof"id The
first in order is the reduction OF the 'arn 10y ' ~,
so-caed Wilson bill secondiy an aSh has mn ~
settled business shall not go into any hISrusSLo ,
OF the merits Of protection or or every iraqF no.
I desire TO call your attention for slnSt mo
ment to the condition OF the country in l%2 when
we were living under protective arm sSS'e"''
and the condition at the present moment
THE PROTECTIVE SYSTEM
We had had protective tarin system S'"cs
1881 II had been repeatedly changed by act Oh
Conyrees but whether increased or diminished IL
had always been built upon the theory of AIDE
ouate protection to American labor and American
capital with the idea of maintaining ana au'a
ing a rate OF wages here hlgrer '.nm i''" Itdar
vailjng in any other country IN the worid luet
that system the growth and Development OF our
country had been fabulous From 1861 10 lNg WE
had oladrupled our wealth. From an aSflcul-
NAL neone we had become the largest manufac-
turing natoa in the world the van. OF our ~, y, wa W.
ucts exceeding even those OF Great Brtain anu we
had NJ the same time. made equal advance IN
agriculture and were producing not onIy al r re
s,rpltls for export abroad I'm manuiactoGl"S we
were supplying our own market WITH ~ me
beeinninr TO reach out to the markets of the
world As a result of the Presidentlal election in
nartments both Legislative and Executive. passed
into the hands of the Democratic parry ior we
party moved in Congress for a revision OF the
tariff upon tho lines of a tariff for revenue 0rly
n nd not for protection. 1t resulted IN the w Son
bill" which has proved itself to be not even a
revenue getter for has failed to furnish revenue
sufficient for the ordinary expenses or the Govern
ment ard we have been compelled to borrow
largely for the daily expenses OF the Government
Rut this was not the chief evil of the system IL
at brought dstr'ist into every nlu't XIX ne
retail dealer reasoned that when the oill Went
cause they could be imported from abroad at a
prices less than they were produced here ana he
stock preferring to wait for lower prices before
doing so. As a result, the wholesale dealers ana
the manufacturers found themseves e Sh9r OF or
ders. Their warehouses We're soon MED TO over r
flowing with their goods. which they couid not
sell. and OF necessity for ser protection ,hey
words to close their establishments or run them
upon shcrt time. The result was me turning OF, out
ment and the stoppage OF their wages. win the
stoppage of their wages they were OF necess',y
compelled to reduce the:~ eXpenss; living upon
their little savings In the savings bank or upon
their credit In this way the consuming power OF
tho whole people was largely reduced. II has been
estimated by careful observers that the reduction
OF consumption Of goods Of all kinds was at Least
stroyed largely home market ana added 10
the difficulties. Confidence was lost credit was
diminished and business In every direction was
After TWO years Of this condition. and when we
had partially adjusted our business to the new
tariff there came another trouble. which has been
no less disastrous than was the agitation Of the
tariff and the reduction made by the Wilson bill"
This was what is called the silver question. or
the demand for the free and unlimited coinage OF
silver Mt a ratio or at valuation as money twice
that of its value az a commodity. TheIdcmand for
the free coinage OF silver was based upon two
due to a lack of money, and that IN" money or cur
renry OF the country should be- largely Increased
Secondly that gold. the basis OF our currency. had
appreca ted in value and thereby caused low prices
II either of these propositions had beea true there
would have been some show OF reason IN the de-
mand for the free coinage OF silver; but neither
IL true. and therefore the arguments based upon
them must tall.
PLENTY OF MONEY
Let us examine 1t. First. are told that there
is not sufficient currency TO do the business OF the
country and that we can have no prosperity until
II Il largely increased The fact is there is substan-
TALLY the same amount of currency In the country
to-day as there in 1892. when the volume of the
f. AT the present moment; There was no lack OF
money then. Money was kept busy In performing
the Offices OF exchange In carrying on the commerce
Of the country. How. then shall we say that with
It largely decreased business we ne.d more money
which we now have For most OF the time during
the past two years there has been litte or no de
lateral for the loan. has commanded much OF the
time less than per eem scn "na na mT o T
currency. hut an actual increase nearly every year
of c .r Of ali kinds s In round figures one
thousand six hundred millions.
secondly 1t is claimed that gold has appreciated
and that IL is not broad basis enough upon which
to transact the business OF the country The only
nricea of products but IL 10 Impossible 10 Judge