Evening star., 1896-10-08
REED ON CHEAP MONEY,
He Discusses the Evils of n Depre-
ciated Currency.

ciated Currency.
An ovation which has never been sar-
passed in enthusiasm was that which
awaited Thomas b. Reed. Roger JWolco,t
and Senator Henry Cabot Lodge in Music
Hall, Boston, last night at the ratification
of the national and state tickets by The
Massachusetts republicans.
The hall was simply packed with human
lty from floor to ceiling, fully two hours
before the time for the meeting. while out
side thousands went away having 70
chance to reach the inside of the building
While waiting the arrival of the speakers
and guests. which was somewhat DELAYED.
the band played pa triotic airs with vocal
accompaniment on the part of the audi
ence which Dade fair to raise the roof
Enthusiasm almost exceeded all bounds for
five minutes before Geo. II. Lyman, chair
man of the state committee, could be
heard. He briefly introduced William c.
Lowering of Taunton. the nominee for Con-
gress in the twelfth district as the chair
man of the evening.
Mr.. Lowering spoke briefly, and was fol-
lowed In short speeches by Lieutenant
Governor Wolcott and Senator Lodge In
the course OF Senator Lodges speech he at
tackled the democratic managers in New
York for issuing a parody on the Lords
prayer for campaign purposes, and said
that no campaign carried on those lines
could be successful.
silver craze transient.
Speaker Reed was the last speaker. His
reception has never been surpassed. The
vast audience rose as one man and cheered
itself breathless. and. recovering, cheer
ed again. After gracefully acknowledging
the applause which greeted him, Mr.. Reed
said. in part:
I'VE do not need to talk of protection
for this country, by three elections, each
| more decisive than the other, has prac-
ticaily determined that question.
"Eut the main question now before US
| IS the silver question. 1t has come upon
| US like the greenback agitation in 1873 1t
| has the same causes, and in my Judgment
| will have the same fate.
with the rising tide of business in 1879
which followed specie resumption, green
| backism disappeared from the face of he
earth, perhaps never again to reappear.
| In like manner when this election is over
and business revives. this question of free
| coinage of silver by the United States
| single handed and alone will disappear
(, from public and private discussion. Nor is
| the question today half as difficult as the
| question of 1878. 1t Is certainly not BIZ
| meta.lism. Bimetallis!n means the use CT
| both metals. and not of one. 1t means the
| use Of both metals by all the civilized
| world at least.
| AT this bimetallism Mr. Bryan sneers.
He says that it is establishing a system
! in America with the consent of Europe,
| as if we were vassals. Had he said agree
| ment, as does the republican Platform, he
| would have recognized both the individual
ity of other nations and their equality.
| "Bimetallism, then, Is not the issue.
| put aside all this talk about the rise of
| the value of silver under free coinage to
| meet the value of gold and all the har-
| mony that would come of the marriage
| 1T seems then very clear If we are to
| credit history and experience, that if we
coin silver 16 to 1, when its market value
! Is 80 to 1, we should certainly go to s.l-
| yer standard, and that standard will be
| below our present one. Suppose we admit
| that the increased use of silver Will raise
Its price: even then no man In his senses
| would dare to think that 1t would bridge
the chasm.
IF the coinage Of 5000, COO, 900 where there
was none before lowered the price, wha
right have we to think that increased
price instead Of raising 1t?
| Cutting Debts in Two.
AT first sight 1t looks so simple. Al
debts will shrink. and therefore all debt
ors will be happy. All creditors are -icf
men, else why do they lend money? AM
all debtors are poor men, else why do the,
borrow? There was a time when wealth
was Individual, and only the poor maj
borrowed and the rich man lent Money
is TO longer lent by rich men alone. Ag
gregated poor men. poor men and rich jon
ed together. the rich with their wealth, tn,
i poor with their savings, do the lending
| Trr.y yNtYn nn1n nnf 49, VvHAA tt.