The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-09-09

III 1919. "A uu We uliBue Do moo u "oAes
off than we were now. (Laughd er and
applause.)
Our troubles now arose out .of the
foolishness of human nature. "11 las is
not complimentary I know. sal. Mr..
Reed. "but as I belong (laughter) IImay
say what I want to about the esta blish.
ment.' Uaughter.)
In 1892 we were fairly prosperous. Our
industries were busy and our men en-
ployed. And now we were here. And
we knew We were here. And how did
they like it? (Applause.) And they
knew who led them here. (Aplapuse.)
What was the remedy? The free coin
age of silver was proposed. Anything
with the word free" In it. had charm
for the American ear, SO among some
free silver was popular.
Mr.. Reed then proceeded to disc uss the
uses of coin, and the Characterization Of
the most useful kinds. Those who pro-
duced silver were perhaps entitled to oon-
sideration but they had had it. We had
even bought a great store OF their sill
yer, and it is worth enc hundred and
thirty-six millions less now than when
we bought it. We had coined h54, 600,
600 of silver dollars since 1875
Mr.. Reed next showed the absurtltty
of the taIk;about the ''orime of 1873, 4"
and the folly of any attempr by ahe
United States alone to raise the price of
silver.
Whenever thing can be manufactured
unlimitedly its price goes down. Prior
to 1857 silver was produced in such
way that it never seemed.possibls to get
much of it. But the establishment of
peace in Mexico and the opening OF her
mines, combined with the lead ore in
dustry, had made the production OF silver
an industry. 1t production became un-
limited.
With such a situation, the Introduction
Of free coinage would mean that our
more valuable gold money would be
driven out. The cheap money always
drove our the better. Mr.. Reed said he
asserted this, not because he believed it.
but because he could prove it. Gap
plause.)
A man would always pay out the
smooth or
MUTILATED COIN
first. 1t was human nature. The small
boy, who had two apples, one for HIM
self and the other for his smaller brother,
was sure to see that the little brother
had the apple proportioned to his size.
This was all there was to the law of
Gresham.
Some of the effects of having half
value dollar were shown by citing the
case of a railroad having $500, 600 of
bonds outstanding. 1t could pay off these
bonds with what would really be
would 60 to the benefit of the stock, at
the expense of the creditors.
The various views of the silver quee-
ton reminded the speaker of the story
about the blind gentlemen who viewed
an elephant. The one who felt the ami
malls side, Thought he was like the side
of house, the one who felt his leg
thought him like the trunk of a tree,
| the one who felt his trunk thought him
like snake and the one who felt his
tail thought him like a rope. But
man with eyes would readily see the
beast as whole. And so when this sill
yer question is looked at as a whole one
To 60 to silver basis would be to In
troduce into business affairs great fuo-
tnations. These fluctuations go to the
advantage of the quick. and shrewd, aud
to disadvantage of the simple.
"Do you want to see any more advan.
tage givon to men with brains, than they
have nnw?" said Mr.. Reed. 81 don't. 1
want; to see equal Justice as nearly as
possible
There is generally not so much virtue
in the medicine as in the recuperative
powers.of nature.
When We should get through this oam-
paign we should have stopped a wicked
nesssthatswould have given us four more
years OF disaster. And when we should
have stopped 1t, natural causes would
come in and prosperity would return.
There were as many resources in the
bowels of the earth RS there ever were,
With confidence would come prosperity.
The Republican candidate, Mr.. McKin-
ley, represented all that stood for conf
dence and prosperity, (applause) he and
his party behind him.
And you want tosvote not only for
him, but also for his representative, the
Republican
CANDIDATE FOR GOVERNOR
of this state" said Mr.. Reed amid ap-
plause.
Maine is bright and shining light and
you have great moral responsibility.
Win victory? Of course we shall. But
we want such vote as will serve no.
tice on the Silver Senate think one
of the worst things ever done in this
country. was when the five silver Sena
tors prevented the passage OF the revenue
bill that the House passed so promptly,
I condemn also the Northern Democrats
who ought to have voted for 1t. 1t was
not protection bill, but reven ue bill
purely and simply. l condemn also the
northern business men, who ought to
have brought their influence ito bear to
give this government revenue enough.
You occupy powerful position. Lst
your action next Monday DO such that
all shall know that you still OCCUPY that
proud position and that the banner is
still! lifted high in air. prolonged
applause)
AIR. Higgins then introduced
HON. FRANK S. BLACK
of the Troy district Of New York, as a
former st udent of the A cademy and soon