New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-13

~
CHARLES a FArRCH1LD
siderAd similar questions-men differing as widely
! there occurred an idea that party section
! race. nationality or worldly condition was involved
lar government. when all these millions OF people
were enabled in the great mass to consider ques-
Now the necessity IS before the country # going
onward and upward in another direction. and un-
munity is alive and besrs Itself 10 influence public
selves 20 what is wise and best then we will never
attain wise result. Therefore II is
Mdde West have nrited their fellow business S men
OF all parts OF our broad country TO come here and
which we transfer our property and our services
from man 70 man. from city to city. from State 10
State. and from nation 10 nation.
This is question where no division OF interest
can exist II IS impossible FOR any one 10 conceive
different from any other portion in the selection OF
draw the line. and YOU will End that he never has
been able TO do H. Why. there has been an at
tempt made to draw the line between that portion
OF the country which 7. member % the delega
ton Of the Chamber Of Commerce Of NewYork.
They nave said mat our interests were antag onisc
to the interests Of every other portion o, the cSuh
owed mortgage Indebtedness II you choose-that
the State Of New-York was the creditor OF the
whole country
INDEBTEDNESS OF NETWORK
Gentlemen If YOU have never looked at the statis-
tics given IN the last how the relations
stand this question. do IT, and you will see that
Of the whole mortgage Indebtedness OF these United
States - per cent &c IT, Is upon property in
State OF New York. Therefore. when this monetary
question Is preached from the standpoint of the
debtor of the State OF New York owe more than
one quartz: OF the whole mortgage Indebtedness 0,
the United States II The debtor who has an
obligation upon his real estate is to h. benefited by
any manipulation Of the currency. We OF New-York
j will get mOre than one-quarter OF the benefit.
We Therefore can approach this question as men
with common interest I'm one common country.
shadow or forestal in any advice the action Of this
convention. but can say, ii my experience. that
the Government 10 do something and all the
power OF Governmen; behind IL esn no 90 ana
money and investing it with the lega-tender quail
most powerful governments relative their peo-
r hfyf b oS Of M things that M
cannot do when II attempts to go against the
world. One thing that all experience has shown
that governments can do II they want TO give the
iating medium Is II that the quality IF
acceptable TO every section Of every business COM
muritv.
THE REAL CIRCULATING MEDIUM
1t me illustrate my meaning: A small portion
Of circulating medium is made up Of money
what We call money! very small portion. A very
large portion is made I'D Of what call nstru-
nents OF credit and in my mind, even over and
beyond the physical and visible instruments Of
credit there is another large circulating medium
which consists Of the state OF mind favorable
the circulation OF these commodities.
Now. see the effect Of any Impairment % the
quality OF that portion Of your circulating medium
TAI: let there be bad faith-what happens? Why
Immediately not only the portion OF fhe circulatine
firm begins TO contract hut all circulating mediums
on the other hand take that portion Of your
circulat ting medium which consists OF money only.
Wi on1 ~ onev ,ee baeos W b,
tract. NOT oniv thai bur Thai other Great nortfo,
OF your circulating medium begins 10 contract he
cause men are doubtful whether they want 10 do
the only thing thar government can do as shown
by the experience Of mankind. If it wishes to give
10 TO it that the quality OF it is undoubted.
rccommendaiions come out Of this asserbT Won
VIII hnd that you come back in tn end 10 this
tended TO. quantity takes care OF itself
MOST SERIOUS CRISIS
Gentlemen: Il IS Of VAST importance that some
thing decided comes OF these delihera lions. and
tell you that. should it be demonstrated. God
grant that It may rot there is within this body
sufficient wisdom 20 arrive at something wise and
conclusive. H. having conclusion
among yourselves. 1; is demonst ted that you are
so far removed from the Influences OF the law
making power that result comes from II. YOU
this country Better never have been called to-
gether. better never have assumed represent.
better never have pretended 10 have any Influence,
than 10 come together here You have come and
have failure Of any degree. Our business condition
is such that cannot afford failure We must not
fail
A VOICE FROM THE FAR WEST
John p Irish. Of California. followed He said
in part:
Moved on by a spirit of optimism for more than
a third OF a century. the business OF this country
has hoped againsi adverse conditions. Hope is
longer a force that sustain the business inter
ess OF this Republic. our financial scheme Is A
scheme that has been permitted 10 grow through a
series Of pa ichwOrk eXpodents Will its radius In
tho far-gOne emergencies OF The Civil War un.1 if
/ wer. 10 describe il IN the terms OF surg.rs !
would say that inancid. plan in this Ecpubii"
Is a complex. compound comninuted fracture. with
skin (Applause and laughter You are here to-
day 10 see whether under yo1r skill and wisdom 80
can be made 10 shed re SKIN. Your duiy. ny
friends is the suggestion 10 The lawmaking power
Of this Republic. the straiSntenng out Of the r-
regularities OF our financial system. TO put sim
plicity in the place Of cOmpleXiy 10 conform mat
system 10 the natural VS. Of finance
/ am aware that have many we'll inca ming
countrymer who join uS IN lmpeachment OF the
this country. They believe. perhaps the way 10
strengthen the supersiructure is 10 weaken the
foundation. We are not mere 10 thnlper WIN foun-
dat.ons to-day w are concerned with what is
built upon the foundations
I believe with the eX-Secretary Of the Treasury.
thar the men who transact the business Of the
with investments in every possible labor employing
and wealth producing energy from ocean 10 ocean
and silver mines OF the West. In the lead and the
copper mines Of this Republic. have In them the
wisdom face this OF troubles. and. by op-
posing end them
CITIES REPRESENTED.
The Committee on Credentials reported that