The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-23

record, we should CONFIRM and reiterate II with
emphasis.
In times OF prevailing business depression,
Widespread discomfort and general unrest, the
various elements among the people that in
prosperity cannot combine their forces. readi-
" eoalesce.
Dishonest money because Il is dishonest
attracts the disorderiy, lawless and revolt.
tionary elements--ths socialist, the populist,
and the anarchist.
The issue today is not exclusively honest
money. but the very existence Of government
and the preservation Of law, life and liberty
are at stake.
Banks, especially national banks. have been
assaiied by the vituperations OF ignorance and
passion.
The banks rallied to the support Of the
gov eminent In the darkest hour OF it's history,
and supplied the money necessary to defend
it's honor and life.
Through the national bank system. subse-
Quently established market was opened for
United States bonds, yielding the money nee
essary for the prosecution of the war for the
preservation OF our Union and currency
provided that has never been eXcelled for
safety. universal acceptance at par, and i'm
mediate redemption.
Ninety-three per cent Of this business Of this
country Is transacted by checks and other
negotiable instruments.
Eliminate banking facilities, national banks
and their circulation, and substitute dishonest
money as the vehicle of trade. financial chaos
would speedily result.
Cotton and cereals could not be produced
If produced, could not be marketed-trans-
portation would be paralyzed, the wheels OF
Industry would cease to revolve. enterprise
and development be checked, and the whole
land plunged into ruin and misery
Many sincerely believe, 1t Is true and pity
IT is true, that the free and unlimited coin
age of silver at the ratio Of 16 to /, and the
payment of existing obligations. public and
personal in that metal would be for the high
est good of the country. We respect their
sincerity in honestly advocating dishonesty,
but regret their Authorization on the subject
H. cx114 Hfnr ns1rrfn
BILE company.
The question has finally been referred to
the ballot box for settlement.
We live in land that has been and Is the
recipient of the Divine blessing. We live in
land of civil and religious liberty-full Of
churches, free schools and open Bibles-and
we cherish implicit faith in the honesty OF
the American people, in their common sense
their ready discrimination between right and
wrong, truth and falsehood, in their faithful
performance of existing contracts, in their re-
speet for the law, in their unselfsh devotion
to their country, their loyalty to her highest
interests, and their willingness to sacrifice
their lives rather than suffer her honor to be
furnished by dishonesty.
There is God who presides over the des-
TIMES OF nations: Let us do our duty and
beloved country, for the preservation OF its
honor and liberty inseparable, for, as Burke
said: What Is liberty without wisdom and
without virtue? Such liberty is the greatest
of all possible evils, for it Is vice and folly,
and madness without tuition and without re-
straint."
From liberty without honor or virtue, from
dishonesty, from lawlessness, from anarchy
and ruin, good Lord deliver us!
At the conclusion of Mr.. Pullen's adj
dress, the reports of the executive
council and protective committee were
read by Chairman Joseph c. Hendrix,
president Of the National Union bank,
of New York. The report of the ex-
ecutive council was a declaration i'll
favor of the existing gold standard
1t states in it's opinion the existing
commercial depression is Immediately
due to the attacks which threaten to
overthrow the present gold standard
Of value and adds, in part:
We further believe that our full measure OF
national prosperity will not be gained until
the whole world understands that the dollar
of the United States is 100 cents worth of gold
and that the nation intends to keep 1t at
that value.
We believe that an opportunity is present
ed by the issue of this political campaign to
give a lasting definition Of the dollar a
money unit, to permanently settle the foun-
dalton Of our monetary system, and to re-
move the menace Of an overturn Of value
and far-reaching ruin and distress which a
descent to silver basis would involve.
The treasurer's report was read by
Mr.. Hendrix, in the absence of that
officer, William Fl. Porter, of the Chase
National bank, New York. 1t was fol-
lowed by the report OF the auditing
cOLQn1lII0C. secretary bFdIlCn THEN
read his annual report. The secretary
said that the close Of the year 1896
shows the largest membership in the
history of the association. In 1889
the association had 1870 members.
This was the maximum number until
the present time. The membership
had shrunk as low as 1858, and the
association, by the secretary's report,
has made a net loss Of Az members
from 1889 to and through 1895. Since
Sept. 1, 1885, GAG members have been
added to the list and 47o lost, a large
proportion Of the latter having either
assigned or liquidated.
F. w. Hayes, president Of the Pres
ton National bank, Of Detroit, read
the report of the committee on express
money orders. There was no discus
sion, and adjournment was then had
for the day. The delegates and their
families then took carriages and were
driven to Union station, where lunch
was served, after which they made a
sightseeing trip.
This evening the representatives of
the trust companies attended the con-
vention met in the Planters and formed
a national association of their own.