New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-27
MR.. wOODRUFFs ADDRESS.

The adoption of the resolution was greeted with
enthusiastic applause The chairman then intro
duced Park Commissioner Timothy L. Woodruff
who sad in part
The financial problem is 50 fascinating so varying
are the statistics obta!nable ana SO overs tile
voting few moments 10 .ts consideration. despite
Of fact 4s' nee m a and m
research. study and correctness Of deduction FIRST
silver and the issue Of paper money in the United
states, and observe The effect Of each upon the he
tqs cone s T 2 gold at the s to Of or
& grains of silver r ana e ~ s he se D sSd down 10 d e
1884 it required more than fifteen parts Of silver 10
goiI was the more valuab.e According therefore,
the infable law OF trade that the cheaper money
followed that god went out of circulation In 1888
the ratio was changed 70 Is 70 FOR the purpose OF
tive value Of the two metals was between 10 10 and
IS 70 that IS not up 70 ls 10 L. ne fyrr S0sT ~as
silver coin ceased 70 circulate until in 1853 the amount
5: SILVER in prn s e3g at fo r %as or use n the
arts. The Rebellion caused the next step, large IS
S s Ul p@ and the Silver dollar areadv being at
premium over gold. both passed out OF circulation
tbog ogr az b the act OF 80 to keep them in
Circulation. went out Of sight like fash and the
In 70 came the resumption o. specie pay IneTS rs:
Since the practical decentralization of silver in 1916
We have, under the Bland and sherman acts cone.
ISSUED certificates against certain amount OF
which these acts
TO purchase. and gold 'has been practically out OF
circulation for the last three years ,,
We therefore now find ourselves with circulating
medium consisting OF gold silver and paper money,
the silver and paper circulate among oar own peo
trade Our silver is worth lite more than hat VIVA;
cost The Comm NJ ana VIII }' S Is SU and
France in those countries the oss OF silver has been
s so ere on loss su b further purcses and coinage
England has been on single goo pass since loI'
Germany since 1871 ana France belgium ana
Switzerland since 1876
Our present chief embarrassment is due TO the ex-
isence Of the greenbacks which represent the Coy,
errment's floating debt contracted IN the tine OF
tho war The great mistake mas o.en o maze IN
stead Of lquidatng s2ocDoo OF funded deDt;
sGT s shs Ea e9 sw n sd o Of the Treasury
about fast means could be einpivyeu 10 main
Fnc Se sh sasp France ater the var With Germany
only required twenyone and eight years rsspe CO..
yely to liquidate all the floating debt created ior
The following constitute four OF these great points
IN this controversy. and would seem 10 require no
further argument than the plain statement OF 'he
gets for a days labor that measures the value OF
money. i siHces nothing. IL a man gets $ In n.
p1rchasing power, one-half the dollar he got
Sscond-The amount OF money IN crcu'aio IA nes
ecsolutey nothing 70 do with the rate 81 Whges
me purchasing power OF that Win which waegs
~ per capita while in England is sS per capita.
snd yen wages are lower ana all articles heened "a
PIN the United States where the amount in circu-
ls,i2n per capita is s24. ,...o
Tnrt-Thcre can be only one standard o. m asuIs-
iment for money. as for the measurement OF cl5tn,
lumber or grain. II you undertake TO have two
geher for trade will got the worst OF the bargain.
IN other words. the poor will suffer al the hands
eg the capitalist the extent Of its instability
Fourth-Thc silver produced IN the United States
haf or per OF the total value Of all our prod
ncts. and the gain from fathcring Il can be moth
castres OF the country and the labor thereof. II
We have a currency that is not absolutely sound and
Against whom and against what IS the Democratic
party on July called upon TO exhale It's dying
Mckinley and Hobart? win not lis past record
npel II 70 take issue With every principe enun,
rrty in National Convention assembled at st.
souis? 1t must oppose not only sound money bu:
roteetion reciprocity, restoration Of our merchant
snasTine. deserved pensions. firm foreign policy
s ma free ballot, for II Is upon a platform Of
nave been squarely and uneouivocay placed.
A LETTER FROM MKINIEY.
Mr.. Russell then handed letter TO Secretary
Frank r, Moore. with the request that he read it.
1t was as follows:
w,,. Canton. Ohio. June ls. 1896
wl sana,,BI erri President Union League Club
Dear Sir: Replying to your letter inviting me TO
s sMt the city OF Brooklyn during the fall as
;ssaesi OF the Union League Club beg 10 say that,
Mould Il happen that am in the East: II will give
me ne sincere pleasure be your guest DO not Tor
49,, 49, taat am honorary member OF the club
"e'0n which enjoy w WIZ ANY M fGHlS
or. Russell said that the letter a copy Of one
sn'eh had been received by Mr.. Berrt few days
go. and that the original was in Mr.. Derri's inside
'rset closely guarded.
.no other SPEAKERS Election Commissioner
nn'n,am.n F. Blair Senator Albert A. Wray. Walter
Wannast.erbnry Congressman Francis II. Wilson and
Johns9ee H bruce Among those present were Jesse
a ~ ha ri 1f AQE