Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-01-09
JACKSON AND SOUND MONEY.
Financial Addresses by Two Member

of the Cabinet.
Vice President Stevenson, although he
made no speech, was the principal figure
at the sixteenth annual banquet of the
Young Mems Democratic Association in
Philadelphia last evening in honor of jack
son day. He was greeted as 1.-The best
democrat in the land" and was cheered
repeatedly.
Secretary of the Interior Smith and Sen
ator Faulkner were also warmly greeted.
A committee, headed by David W. Sell
lers, president of the association, came
to Washington early in the day and es-
corted Vice President Stevenson and the
other Washinstonians to Philadelphia in
a special car They included United States
Treasurer Morgan, Commissioner of Pat
ents Seymour, and Representative Joseph
Vice President Stevenson had refused to
make speech, and Secretary Smith repre-
sented the administration in responding
to toasts. His subject was 1.-THE Public
Credit
He paid a graceful tribute to Jackson as
exponent of sound democracy. and then
turned his attention to the currency ques-
ton. He declared that 1.-The democra tic
party gave to the country sound cur
rency," and that he was persuaded that
"the country will be compelled to turn to
democracy to sustain a sound currency"
He said: Sound money democrats are out
spoken and do not dodge, while the sound
money republicans do" He charged that
the chief financial evils were due Ito the
doubt II the government was going to main
tain the parity of its currency" If pros
perty increases, he asserted, the revenue
will increase and take care of itself.
His conclusion especially stirred the as
sem blage. There is a section as loyal to
land as willing to risk their lives to make
it prevail over all its foes" After the cheer
ing had ceased, he continued: I'VE are
especially proud of the battle of New Or
Carolina and on southern ground. They
would prize opportunity to silence for
ever their critics and by their courage on
the field of battle add new credit to. our
national flag"
The applause after he had taken his seat
continued several minutes.
The other toasts were responded to by
United States Senator Charles ]. Faux
Democratic Party" State Chairman Rob
ert E. Wright, "The Commonwealth of
Pennsylvania and Emanuel Furth, 1.-The
Young Democracy" H. c. Bell, deputy
promptu address that was well received.
Secretary Herbert mt New York.
The annual banquet of the Business
Mems Democratic Association of New York
was held last night The guests were Judge
P. Henry Dugro. Amos ]. Cummings, Thos.
NJ. Waller, ex-governor of Connecticut;
Ex-Governor Roswell p. Flower, Hilary A.
Herbert. Secretary of the Navy; Isador
Raynor, Controller Ashbei P. Fitch Post
master Charles w. Dayton, ]. Edward
Simmons, Evan Thomas and c. c. Baldwin
Two hundred business men were seated
about the four tables that ran the entire
length Of the dining hall.
Secretary Herbert discussed Sound Mon
ey Necessary to Commercial Prosperity
He said, in beginning: Mr.. President, the
administration of Andrew Jackson was
noted for three salient features: First by
his firm foreign policy he caused our coun-
try to take stand among the nations of
the earth 1t had never before occupied
secondly, .he saw, all men now see by
the light of experience, the value of the
union Of these states and he saved the
country from sectional war, which at that
time might have resulted in dSintegration
and final separation, and, thirdly, he saw
as clearly as it can be pointed out today
the value of the soundest possible currency,
and in the midst of a financial crisis severer
and more prolonged than any this coun-
try has ever witnessed he brought the cur
Iency of the land back to a sound basis by
an exhibition of courage and devotion to
principle which, though it may have its
parallel, is never to be surpassed"
Secretary Herbert declared that 1t was
strange that any Jackson democrat could
believe in free silver coinage at the ratio
Of 16 to 1. He continued: He saw that a
difference of three cents in the value Of
the bullion in a gold and in silver dollar
had driven gold out of the country, and he
therefore signed a law that changed the
ratio of the two metals from 1872 to 1 to
16 to IL