Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-09-13
THE CURRENCY
Gold Day The First Of Three Days Session at Omaha Of f.
nancal Students and Authorities
Program Includes Leading Representative Gold Advocates and POm
neut Leaders Of Silver are Ptted Against
Them in Joint Debate

tercsiinE subject for discussion would
be found In the present phase OF the
currency question. That question was
Erycubacks W banknotea.
Mr.. white showed that the amount
OF new bonds Issued IN the two years
iA9i-is9e. and the Interest on them g
their maturity. was greater by f2s0.O00.-
900 than the saving u Interest on tho
greenbacks from 1870. the year when
specie payments were RESUMED. Tho
cost OF preparing. renewing and handl-
Ing the notes was one million dollars
per year additional. The loss Of private
business arising from the uncertainty
which surrounds the redemption OF the
greenbackH II much larger but incal-
culable sum.
Mr.. white fasors the bill recently re-
ported by the House banking commit
tee which. while not retiring the green
backs, puts upon the national banks tho
onua 81 current redemption OF them,
and gives the banks the privilege Of
Issuing an equal amount OF notes
against their general assets. protected
by a common safety fund lodged In the
treasury. This would furnish oil the
money that the business Of the country
needs and Il would be furnished at
the times and IN the places where u II
needed, which the government never
can do. and which free coinage OF silver
never can do.
II. =. Bar.lne Of the National Blmet-
alliri ~ Washington. u. C., replied 70
AIR. white.
Mr. Louis II. Enrich Of Colorado
spoke about The Folly and FutilEy
Of Fighting Evolution" He said. In
cloNngi
"Th, civilized world Il a giant today.
Comparatively speaking . was a pig
IA IH o.
" thai species cannot reveri unless
The conditions rryer,' We viii never
revert 60 the silver standard unless We
80 back tl the Old conditions OF Me
and trade. Gold win remain The sand
ufd Evolution has decrccd y. "A
well expect che horse 30 revert % the
type u hia fvc-tgrd dlminutlye ances-
tor. or che clcphan; and the rhlnocero-
TO roam al over Burope az they dii IN
the puat-tertiary period. or thc birds
So return 80 the hkensaa OF their rsp-
Gillian ancestors In maaoxolo times, a.
60 believe that The evolutionary nat
which has made gold che Predominant
standard will be- recalled.
silver will have ~ own work 10
perform. 4, viii arisc again IN value
owing 60 an increasing demand from
the awakened civilifa sons ~ she Far
East A. Mr.. Wallace says. Lower
forms occupy places In nature which
HluiNk DC ullfu ny hANufN AoNfAHs 49,
surcdiy the civilized nations VIII make
n Erieypua financial mistake n they
heedlersly endeavoF 90 force the sold
standard on nations OF lower plane.
A. a aclensls, says. II II OF no use 90
bring a creature 60 a new country u
y cannot live and maintain itself
chore.' The Newfoundland dog can
hardly be kept alive In India. II would
be Infinitely more reasonable for Eng.
hand 20 push the Newfoundland breed
In India than 20 attempt 90 force the
gold standard upon l,a Inhabitants
MY views on this great financial
dugstio have been the result OF grtd-
ual evoluilonlam In my own thinking.
l formerly believed IN the possibility %
thf n1.cailoi International hlmgtaliLam.
I have come with some pain AMI dis
appointment 20 discern It's h0pelessnsss
and lta undeslrAbillty. Tue American
people Will speedily concur In tha same
conclusion. The question OF blmetai.
ilam would already have disappeared
from our national horizon were u not
for the cxigencies OF our politicians
Wallace tells Us that certain animals.
for their own advantage and protec-
tlon, have developed a mlmlcry OF color
and form. Many OF the nat-nah are
capable 81 changing their color accord
inR 20 the color OF the bottom they rast
on The united States 10 fun OF politi-
cal iilt-fFh.
''Yet nothing can arrest an cvoiuilon-
airy fact l understand and I deeply
appru GLAZE the bias % our silver mining
states. Like Thousands OF FAR Western
men. I have believed that this change
OF monetary Standards. with ~ conse.
quent accelerated depression % silver
and resulting proa,ratlng Of Western
property values. has brought me 60 the
brink OF financial ruin. None ,he less
! have honestly tried 20 keep my eyes
open 10 the truth and 20 resist che
sprcloua, deluslve Arguments which
aelf-lnterrst n always 80 ready 60 sug-
gcf. Every forward evolutionary
change Ia life ana In olv'llEi.ins. has
brought disaster aud suffering 20 sJmr.
ks ultimate enect, however. IL 20 null
ilply the happiness and che well being
Of the many. Like their brelhrcn Ia
the South who bus few years ago
were eager 20 sacrifice life ami all fur
their lost cause the men OF the Wess
redeemed from error. will yet live ~
bless their defeat In thls monetary bait
Gle. And TIE younger men, breaking
away from she wiles OF politicians. and
from the s0phlsms Of deceived dscslv.
crn. Will open their minds 10 the clear
impressive facts OF financial history
Will realize fhat the adveH u the sold
standard has become an lnexoribls
Necessity In our advanced and highly
progressive civllzaSi0n-and viii ap-
prclate and unrcseryedy aiml: the
folly ana the fu,lll,y OF lighting evolu-
ton"