The herald., 1898-01-26


Isl. Sc and SIS, as the only small-note cur
rency, for in that way the demands o.
the country for change will keep silver
currency in circulation, in spite of the
ratio. But we also recognize the fact
that the silver coins and their repre-
sentative notes were issued py the sos
ernnent for full face value receiveo,
and that honor and honest require tha'
silver dollars should be redeemeo III
gold.
|. eve advise the gradual retirement VI
the United States notes ana treasury
notes of 1890, for they are menace "
the national credit and source Oh Weah. :.
ness to the government In lts interhal
relations. We advise the establishment
and maintenance of n gold reserve ade-
quate for that purpose.
I'VE advise the separation OF the al
ways indistinct and sometimes CONNECT
ing fiscal and currency functions OF the
treasury"
In conclusion, Mr.. Patterson SAID:
My work Is done; your work has but
begun. An appeal must now be taken
| from the servants in Washington to the
masters in their homes. on the hills and
! the valleys, on the plains and in the
towns of this great country, and you
must prosecute that appeal. 1t is no
time for cowardice; 1t is time for cour-
age. 1t Is no time to retreat; it Is time
to advance. Then bring up the colors
to the front ard march forward in the
assured confidence that our view is
right and final victory must be ours"
A significant motion was made before
tho a Of ho hx
Mr.. Rhoads Of New York; it was that
when the convention adjourned the ad-
journment be subject to the call of the
chair. andN rot a final adjournment.
Mr.. Rhoads withdrew his motion at the
time, but will renew 1t tomorrow. His
purpose is to place it in the power of
the executive committee to summon the
representatives of the business COM
munity together at any time during the
fight in congress when their influence
seems likely to be expedient.
GAGE TALKS FINANCE
PHILADELPHIA, Pa, Jan. 25.-The
seventh annual meeting of the Traders
league of philadelphia was held tonight
in the Academy of Music. at which the
principal speaker was Hon. Lyman J.
Gage. secretary of the treasury. w. W.
Foulkrod. president of the league, intro
duced Secretary Gage. He was warmly
received and held the attention of the
large audience throughout. He spoke
on the subject of Finance" and his re-
marks were frequently punctured with
applause.
Secretary Gage said in part:
1t is not upon wages that the injurious
pf fol- ;c
upon those who own the land, the
forest and the mines. if upon any. that
the injurious effect is visited. This is
all so plain that one cannot comprehend
how the wage-earner can be misled by
that irdescent orator. who, by multi
tudes of words couched in ambiguous
and sophistical phrases. seeks to OBJ
scure Judgment.
1t is the complaint now of labor that
rent and interest are able to take to
themselves a dsproportionate share.
Do we. indeed. not know that the ten
dency of wages is to become convention
ally fixed, and that a rise in the rate,
though it follows the law of supply and
demand, is not so quickly responsive to
that law as are wares and merchandise.
the product of labor?
1t would to us appear that an effort
to reduce the power of official salaries
and fixed incomes by paying them in a
cheaper money would have an effect
in the same direction upon wages. Be-
sides this, it must be remembered that
fixed incomes is relative term; it
includes the few on whose large in
come the decreased power would not
be noticed as an inconvenience even,
but it includes also the humble invest
ments of the multiplied thousands, and
would blight with its mildew the result
of toll and economics represented by the
savings of more than 5000, 900 people now
held in the savings banks of our land.
mo. it will not do-this silver scythe
cuts too deep. 1t reaches the widows
mite and the wage earner's pay. The
revival of industry now witnessed and
the easy condition as to interest which
now transfers capital. are the best wit
nesses to the dangers from which we
have been delivered
I'm recent speech Mr.. Bryan said:
IF our enemies boast that they have
buried bimetallism. we point to these
wage reductions as the weeping will
lows which have sprung up about it's
temporary tomb
beautifully expressed but quite be-
side the point. In the first place. the
record is against them. Wages have
been advanced. There are no weeping
willows around the tomb of bimetalism
at which to point. Besides, his enemies,
if he means the Republican party, are
not boasting that they have buried BIZ
metallism; they proclaim themselves it's
friends; they approve it in the platform.
The present head of that party has been
active to secure it under the only con-
ditions by which it can be maintained,
namely, international agreement with
open mints to both silver and gold.
I'm his efforts he has the support of
all members of his official family, in
nuendoes and declarations from various
sources to the contrary notwithstand-
ing. Until it can be secured in this ra-
tional manner we propose to maintain
the kind of bimetallism we now have
under which $5OOOOO,OO 900 or more of sill
yer is kept on parity with gold.'
AS soon as Secretary Gage had finished
he left the hall to attend the banquet of
the Commercial exchange in the Hotel
Walton.
CoRBETT SIGNS
And Fitzsimmons' Signature Will Be