New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-25
MR. BELMONT ON THE ISSUES.
TELLS WHY HE TOOK HIS STAND AT
CHICAGO.
.-psoyar AND POLITICAL ADVANTAGE, HE SAYS
suorup BE SET ASIDE WHEN NATIONAL
HONOR is THREATENED - WALL
STREET AND THE COUNTRY.

HONOR is THREATENED - WALL
STREET AND THE COUNTRY.
ro-ner Congressman Perry Belmont has issued
- .ddress 10 the Democrats of Suffolk and queens
s.u,.es-the LIST Congress Dstrict-conoerning his
=, the Chicago Convention. and his desire
,ha nomination of a Democratic sound-money
ssna,date for the Presidency. He says in part:
vent TO Chicago as your delegate with the same
so..ibility that the results of the Industrial ana
Srsncial depression. beginning In 1879 mas SCI OF
loot remedial schemes. which the democracy Oh
Csv-York could not approve
NWeI am asked more especially what constrained
~ az your delegate. TO protest in such very per-
ne.,n,y wav against the conduct of the majority
srsnuld say Il because the proclairned policy
ena pS disregard of the traditions of the National
namocracy as well as OF the frequently expressed
Ard wel-known ideas Of our own New-l ork Democ-
's Frs,~such policy and purpose would result in
80 has never advocated and which the New-York
democracy has ever condemned:
80 he execution by Congress OF such policy and
purpose would We Of New-York believed, result
issIcs in parment is forbidden by the Constitution
under which We i've and IN the dish9noI OF the
'F Finally even the agitation in the Presidential
year o. such a policy and purpose would postpone
10 Sy the Mckinley tariff and by the sherman
law o SSea With the resulting world-wde business
rsni: from whose effects everybody. the rich and
he poor, and especially our farmers is row SUI.
si ihsy follow false leaders and false issues
ssrs,scance ana should be set aside altogether
when National honor is threatened and the safe
sssaiied Let US not be carried away by prejudice
O. emotions whether against section or class.
After reviewing the history OF coinage in the
United States and France. the attitude OF the two
Eres, parties. debts and bonds. Mr.. Belmont adds:
The Popusts and silverites affirm and reiterate
?, every avaiae'e opportunity that New York mas
been since spec.e resumption began and Is now the
sest o. greedy. rapacious. selfish and crue! pur-
% to ne OF g doanrg
Cypress and njure every one not in the York
i dasstres A T5ey yasaey describe the enemy
h.v:ng. its seat in Wall Street as the money
dssfee the u NE ates whh
snda 'H They say that Wa Street IN New
York, moved by Lombard Street, in London. ac-
syer or rom M bretsic unit Of value (Which
ever was the unit from l7s? TO 1870 to go;d-dolar
lars was then prevented. The organized novemen:
tsr that change. as a mater Of fact began in
Isl Prussia had moved first before the war Of
$50 against France: and made the change a from yr
lowed suit and closed their ,m;nts against silver.
! !. Sy p W Ra set the on cR 0 that
which was begun in 1851? How would it have been
Esse fET ON @i The b N dnS of
West and South. or without their knowledge and
Sepesied a Il If hey were overreached by Wall
street? Why mas the whole business Of the Nation
Itself 70 the gold standard L such preponderance
The Populists and silverites adroitly leave It to
be inferred by the ignorant that only NY M
that Southern men and Western men-resdents OF
San Francisco. ST. Louis. Cincinnati and Chicago
have almost as much to do with 1t as New
md for s s %
IN 1888 private bankers-an were objects OF espe-
Which demonetized silver twenty three years ago
which created the fai in price, Which increased
which are now preventing recuperaton therefrom
n6ney and esa the of
which is in their hands? DO they own It? Not
South nnS Nest 4h agd fs q the N
Men and women no longer hoard money in hiding
ksr and p1 II Rhsn ana Tsa
banks ard bankf 5o send TO ihg Larger
l. cannot be probably employed in the locality.
complain because the money is not sent West and
South bTt who is Responsible for and can remedy
Under our rcGern customs money Is collected In
reservoirs sound reservoir drains the surround
Reservoir rSir' Is called a bank The great money
iSs money Is still owned by individuals IN Inc
Il Is only on trust in New-York to be invested and
Thus the money power Is not local but really
What is desired is revival OF our industries and
enterprises and for that credit is the thing need
fu4 The distrust of those now having idle capital
% Invest must be removed.
Az the final analysis Of the conditions In which our
country now ia comes the critical question, How
shall We vote next November? ! shall presume
10 suggest 10 any one how he should exercise his
privilege Of voting. Ny own conclusion IS definite
and fixed II is 70 the electoral ticket which
hope vii b in the field standing for Democratic
candidate fo- President in whose unfinching cour
age and loyalty to the gold unit OF va.ue pre-
scrbed by the law Of 1872 and 10 Demo attic prin-
etples can have the most implicit confidence.