New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-16


Chicago. April 15-secretary Carlisle arrived here
from Washington this morning. Tonight he adj
dressed a meeting of the workingmen at the Audi
forum on the money question. He said In part
Whether we shall shall not have long period
OF financial commercial and industrai hlsa ied
OF permanent employment or be partially employed
nS & aTe
made by many OF fellow citizens that the United
eminent in the world and in opposition to the es,
tablished policy OF every other great civllzeu ana
limited coinage OF full iegal-tender silver at the
ratio of ls to /. Notwithstanding the true market
other words that the United States alone sna de,
clare by Law that sixteen ounces OF SILVER are eluai
in value to of gold when It Is an ind,s-
putabe fact everywhere recognized that in all the
markets of the world In silver standard countries
as well as in god standard countries. sixteen ounces
OF silver are worth only about one-haf as much as
one Of gold and will purchase only about one
half as much OF the necessarles of life. The naked
proposition is that the United States snail CON- az
the public expense. for the exclusive benefit OF the
individuals and corporations owning the pu,on az
the silver that may be presented at the mn.s mo
dollars containing S grains ot Pure nrinsicay
about 81 - cents, deliver the CONS 70 the ue
people in the country to receive these coins at vau o
alton of 100 cents each In the payment Oh deots ua
kinds for pensions to soldiers ana SAILORS ana ,nsr
widows and children, for Losses sustained unuur
parties. for deposits in savings banks, trust com
pln.es, building associations and other instltutons'
nSccutors and odmnstrators OF decedents'
and other trustees, for salaries of all civil military
soldiers and seamen, and, in snort Tor every hu %
obligation recognized by the laws OF .ne has
taken the precauon In advance 70 contract LOT pay
ment in gold or It's equivalent TO Say no'nl" sc on
a policy. It's immediate effect would be 10 conLract
stopping the use of gold as money and putting a
premium upon the Gems OF that metal equal rrs or
OF he gold
Gold coins would at once become commodity
and would be bought and sold by spectators in the
market just as they during the war. when
Of the silver dollar would uctuate from day to day
moving up and down with the rise and fall OF tne
the Mexican dollar does now. and the premium on
the gold dollar would, of course, huctuate to the
ion brokers and spectators to buy and sell 1t at a
profit 1t would cease to be used as money, because
pS pa red Een in gold dollars worth 100 cents
when the law permitted him TO pay It IN b silver s,s d9
withdrawal OF $500 100000 from the volume Of cur
rency in the country would undoubtedly produce
financial and Industrial disturbance far more disas
trous 10 the interests of labor than has ever been
particle OF svmpathy for workingmen and
and their dependent families can contemplate me
|, is his duty whether he occupies public or
private station. to employ every honorable means at
While the sudden expulsion Of $3.50 10000 in gold
from stock Of money would Itself be sufficient
II
history OF this any other country. the situation
would be very greatly aggravated by the fact that
currency would be- suddenly reduced about one
half; we should have, only about two-thrds az
tine IT would be Deprecated in value that It
to transact the business OF the country. provided
there should be any business to transact. ,,
standard of value. that Is. the attempt to Keep the
Sf II the n two msa g9 pdn ana ra s
OF value fixed 10y law. has repeatedly been made
in the world. and It has failed again and again In
every ono Of them: and II requires no gift OF proph
sy s ,I corstltts controlling factor in
the business affairs Of men.
The Secretary reviewed the financial experience
OF the United States in order to prove that the
cheap metal always drove ont Of the country metal
OF higher value money. lie said:
I am here TO insist that the minis OF the United
States which were constructed. and are maintained
not be uscI for the exclusive benefit of the
Of silver bullion under law giving them the right
TO have q or % cents worth u silver coined free OF
charge ana stamped a. a dollar and compelling
you and all others to receive II from them as
dollar. All the mnts OF the United states. opera,sd
TO their full capacity. and doing no other work.
could not coin into standard SILVER dollars Two
thirds Of the annual protur,oh OF s.Ne, ~ Uri
own country. but. Notwithstanding this' IL Is ser
iousy proposed to Offer free roinase 10 an me 81
In the world az legal Vanatloh ainus' noupr
It's commercial value in the markets OF the t0relgh
countries where IL Is produced. The annual pro
duction Of silver In the world is about S;neo@o at
our colnng rate and the annual capacity or our
minis coin standard SILVER uoilIS -
100000 Last year coined N}|}i,o IN so,l
and ,9Oss $50 In silver; 50 that If our mnts were de
voted exclusively 10 The free coinage OF sat,ic
silver dollars the addition TO our siock o. re,nr
money would be about N5gn.'v less every year
than i s now and ~9 , nT te oo yoors would
ciapse before We could at this rate com "nousn
dprecaed sysr dollars xpe IL f" rom the counry
and in the mean time coinpe,e rrvoion a,ions
nay 10 nations and in all our domestic business
affairs including reimbursement OF me wssns o.
cinal state and Federal taxation charges Tor
transportation. and every otter maiter ivOsi h
~" single stem from the highest standard OF value
10 silver monometa ll!sm, win a,n u
tho same time a deprecated currency; hiano,..i
s~ne1Iment which has precedent In the monetary
history OF the world. ,.... ,oro,o,or. beon
ma do I'm the circulation by the substitution OF .he
coins OF one metal for the COINS OF t.e Oil and
,h nrncess Of substitution has been gradual ana
created no great financial disturbance Now, now
.,: that have usually controlled In the settle
ment OF great financial questions seev ,a " NC an or
,Gyaniztd and aggressive movement to destroy ny
Single blow the measure OF vane b upon uSyert the
very foundations OF monetary system Thnont
allowing single asy TO and 5r sore lo resulting from
such radcrl measure what WI De the or
o, ,ne Inv reducing the value OF the money IN
which his wages are PAID anu d. 1iu s Co. which
creasing the prices OF me con''o''e ''' ~
his wages expendeu' a,
The speaker went on 10 show that wages OF 'he
,hro, nevet improved equal to the depreciation OF
The currency citing the conditions In silVeruslns
co,r,ries OF the world. He said that the vast op"-
items Of the insurance companies. savings BANKS
etc could all be discharged In cheap money win
49,, s,,vsr though every dollar held by them was
an dollar. In conclusion the Secretary SAID:
~, 4, free and unlimited coinage OF legal tender
syer at the ratio OF IL to Is established IN ms
slv n,r~ very large part OF the money deposited
cou ss =, Various kinds of savings institutions VIII
III Zen be repaid in deprecated silver. but VIII
not I'll liz los, because such reckless monetary
DC VIZ, wyould preciptate financial panic which
So, Few II any of the repositories could survive
yeiS -, hat there Ii a single financial institution
W country that could sustain the pressure that
~ be Immediately made upon II by It's deposors
VIZ WI o,ber creditors when IL became apparent that
ANY, anu o,andard OF value was TO be lowered ana our
c"rrency deprecated by free coinage. Payment o,
ali our obligations held abroad wouq o pe nanita