The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-26
And that the Time Has Not Yet Ar
rived to Distribute It's Assets
Among the Populists.
HE CONDEMNS FREE COINAGE
AND HOPES HIS PARTY WILL DE-
CLARE FOR SOUND MONEY.
Reception and banquet I'm Honor of
CIub-His Financial Views.

NEW YORK. Feb. 25,-Many men dis
tinguished in political and financial circles
assembled in the rooms of the Manhattan
Club tonight to meet Secretary Carlisle
The occasion of the gathering was the
ception OF the club to the Secretary OF the
Treasury. The guests included men con-
spicuous in both political parties and in
the many factions OF the State and local
politics. The clubhouse was handsomely
decorated In honor of the occasion. Mr..
Carlisle loudly cheered as he entered
the crowded hallway. He was formally re-
ceived by Edward Bell, chairman of the
house committee. who conducted him TO the
parlors, where he received the guests, as
sisted by Frederick r. Coudert. After the
reception banquet was served in the din
ing hall. at the conclusion of which Mr..
Coudert, In introducing the guest of the
evening. said: THE statesman we have
with US tonight is worthy of our respect
and consideration. Mr.. Carlisle's proudest
title is that of pedagogue. 1t is the school
master that rules the world, and the great
title Of our honored guest tonight is that
OF schoolmaster of the Nation in sound
finances"
When Secretary Carlisle arose to address
the assemblage. he was greeted with loud
applause. After thanking the club for its
hospitality and for the cordial reception it
had extended to him he said:
II wanted to be here tonight because
i knew that your halls would be thronged
ard your tables surrounded mainly by old
fashioned Democrats who have never
pudiated and am sure never will repudiate
the principles of their party-sound money,
just taxation economy in the expenditure Of
the public moneys. honesty and fidelity in
the discharge of official duty and the preser-
walton OF individual liberty and the rights of
the States. These are old-fashioned Demo-
cratic doctrines, il is true: but they We're
good enough for our fathers and they are
good enough for us-or they for me.
Unfortunately. many distinguished members
OF our party do not agree with us on all
these subjects, and We are rapidly approach
ing the time when our differences of opinion
must be finally settled by the majority. But
there Is but one position upon which there
Is any serious difference or opinion among
our Democratic friends. 1T is a most i'm
portant one, for ii involves, in my judgment.
not only the credit and honor of the country
but the good faith and material welfare
Of all our people. 1t cannot be discussed
here. but only stated; II there was any
party adhered with more tenacity than 10
any other in the old days it was that the
currency. used by the people in the
transaction OF their bushes should always
be on a sound and stable basis; that all
notes issued by banks should be redeem
able in specie. on demand. at par value. and
that nothing but specie should be made the
legal-tender for the payment of debts.
Now IL IS proposed TO. condemn this ancient
OemOcfdIlc pOucy-dt leaSt, 50 1ar as IL re-
lates TO the maintenance of sound and
stable currency-by. authorizing the free
coinage of silver at a ratio which shall
make the legal-tender silver dollars worth
about one and a half as much as the legal
tender gold dollar. In other words. ii Is
proposed that instead of continuing the
monetary system based on a gold standard.
where IL was placed by Democratic legisla-
ton during the admin. .stration of Andrew
Jackson. and where IL has been practically
ever since IL shall be so changed as to con-
form TO the monetary system of China,
South America and the small South Ameri-
can states.
I'VE are asked 10 adopt a policy which
would result in silver recommendation. with
an Unlimited Issue of silver, and the total
disuse Of gold as money metal; and
whether will or will not take this dis
astrous policy and incorporate il into our
creed Is the great question which. as / in
timated few minutes ago, must now be
judgment upon ii. This question cannot be
evaded IL We would, and ought not TO be
evaded IL could
Honesty is the best policy in politics. For
see the Democratic party, to which L have
always been attached, retain the position
which naturally belongs to IL in favor of
the maintenance of the public credit at all
times and under all circumstances. in favor
OF maintaining a monetary system which
shall secure TO all classes of our citizens
the laborer as well as the capitalst-the
best money in the world.
Gentlemen, the Democratic party Is not
dead tCheers) The time is not at hand
assets among the Populists at large.
(Cheers.) / hope the Democratic party will
enter upon the coming political contest on a
perfectly sound declaration of principles. If
paired strength. with unblemishad record and
with courage for the fiCht.''