The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-08-07
THOS. B. REED
IS NOMINATED
The Maine Man Named by Acclama-
tiOn for Return to
Congress.
HE TALKS ON THE CURRENCY
Platform Of the Chicago Convention Not 4
Biretailie rlatiorn-They kere Not
After BimstalIism-An Apt
Illustration.

Special 10 the Astorlan
Portland. Me. August e-Speaker
Thos b. Reed was nominated by ac-
clamation for the tenth consecutive
term in congress by the Republican
convention OF the First District today.
After his nomination Reed was e.
corted TO the platform amid loud
cheers. He seemed to be considerably
affected by the ovation. He thankcd
the convention for his unanimous noln-
ination, saying that by so doing he had
been relieved Of the duty OF attending
20 his district and given an opportu-
nifty OF paying attention TO the wic..-
edness OF the rest OF the world. Con-
tinuing. Reed said:
I'VE. in Maine, have got to maze
up our minds on the great issue Of this
campaign. and a great deal depends on
what We do in September. g, hen we
see two men standing on a corner and
both men seem 10 be somewhat uneasy
and unable 10 fully comprehend wha.
they are talking about. you may rest
assured they are talking about the
currency. l shall not attempt to fully
explain the currency question TO you,
but l shall say something about It.
We often hear that silver was demon
etized In 1873 stealthlly and by .he in
fluenee OF foreign embassies. AS a
matter of fact the congressional rec
ord OF that date had 1876 columns Of
speeches oh the silver question and
foreign emissaries had nothing to do
with H. No fraud or wickedness was
practlced in '73. The only question is
what monetary system is best. You
hear a great deal about bimetallism.
The platform or the Chicago conven-
ton was not a bimetallic platform,
and don't let them try to make you be-
lieye that bimetallism is what they
are after
What is the object Of bimetallism?
The object Of it is TO give to currency
greater stability by spreading it over
more surface. A very common illus
tration Of it is this: If you have a
lake anywhere and it is subject to all
the peculiar incidents of the region
in which It is. the rainfall may lift H.;
Of the drought may lower ii. Now, II
you want a perfectly stable surface.
you have got to get 1t by more appli-
ances outside Of the lake. Suppose
you can join it to another lake in a
different climate, which is differently
affected. If you join them perfectly
together, then there would be the
same level in both lakes and the dis
turbances in one lake would be coun-
terbalanced by disturbances in the
other lake, and the tendency would be
to have a steadier level. That will all
be perfectly sure, provided your two
lakes do balance and you get a more
stable current.
Now there is some reason and sense
in the idea that the whole world, il
they took gold and silver at a proper
ratio, could preserve a greater level of
prices. firmer and more stable level
of prices. This no single country could
do. But If one of the lakes was very
violent in its fluctuations, think the
Judgment of common experience would
be to leave it out or If that lake was
nOf hicy annnpb ~ boNra O ,,roDa, aeFaot
TO leave it out, In short, under some
the two lakes might he
worse than the single one might be.
However, that is question of legiti-
mate discussion. But in this case 1t is
not proposed to have two lakes. 1t is
to say that we have two lakes
and shift from the one We have to the
one we have not"