New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-19
coin STANDARD UPHELD.
,r,py CAGES ABLE SPEECH BE-
FORE THE CLEVELAND CHAM
BIER OF COMMERCE.
ropC1s1.E STATEMENT OF THE DANGERS ARIs-
ING FROM CHANGE IN THE STANDARD of
vA1rE-How IT WOULD ACT ON THE
MANUFACTURER DEALING WITH
xoppIGS COUNTRIES.

FOREIGN tOb
Cleveland. March ls.-secretary OF the Treasury
80 solIyered an address on financial questions this
0"e .r before the Chamber OF Commerce. This
~ &C. .ocentance OF an invitation given TO Secre-
-. csre several weeks ago The officers of the
chamber OF Commerce met the Secretary on his ar
-yal q, the city and escorted him 10 the Hollenden.
A, 6 O'Clock they dined and then proceeded 10 the
.t,mhcr which was densely crowded with tho lead
,,r business men OF the city. No one hut members
-. ,amittea After the address the Secretary was
entertained at the Union Club.
s.~eta-y Gage after showing the intent OF the
,,y,.on Of notwithstanding Democracy. silver Re-
o,rllcanism and hat-teaching Populism' 10 force
ro-be- contest the sive- question. reviewed the
recent addresses OF the three shNer parues' ie
continued. In part:
some time since the Secretary OF the Treasury
submitted 70 committee OF wOnsress ,r veti i
"SHtr ;To commit the country more thoroughly
n the gold standard, remove so far as possioie
doubts and fears on that point and thus
strengthen the credit Of the United States both at
no' sSecSond-To place the Treasury n much safer
position toward its demand Liabilities than no"
eN"ir'6.rd-To so accomplish these objects as not e
contract the volume of circulation in the hands OF
u Tas IoposOn q the seore1O5y Nv which has
Sioral Committee. IL thus handled in the ADDRESS
sis g Feer Gs' Of the Populisi party"
a. A. length the selfish and brutal instincts behind
ms ShoisR 10 dispense with the caution and
duplcty hitherto necessary TO Their success ne
scheme against the liberty and prosperity O: the
pc 5ss Will not even admi, that the Administration
nigh, I've the victim Of ignorance and unWlsaoim'
.r6.cA really honest minded and meaning well.
~ 7te diei which he serves in his address must
- circulating 10 the Imagination. exciting 10 me
gsssions Hear the author Of the message little
q; must be remembered also. that this foreign
sod syndicate and its allies have, with me con
9iyance if not the assistance. OF our UoNeThheh',
captured and to-day control, every instrument .,
,Sna Who have controlled the Instruments OF com
,nerce in any country have not only Gon'roneu 5i d
commerce Of that nation. but have also contromga 3
~ dominated that government. Thus the soiu
syrdcste and It's allied monopoes IN our CO Dn-rs
Fev1ng seized the great instruments OF commerce
80 ,sed This tremendous power 20 discriminate
aSoSos; sections and individuals. 10 destroy com
,i,ion to breed business stagnation ana 10 create
Nov studied over mis- passage Ions jim ne to
g. Ia evndicate either foreign or domestic and
d. not believe MIR. Butler nor any one c'Se zoe
s., Ia saws with the cOnniVance, II not me a.,
ts"ce ~ our Government" hey tne foreign eoid
syndicate and rs allies naUe Cmerce in the na
ion What are the instruments OF com,le55 : :
about which he speaks Win qe SnG s0 ships hi Of
iS3,Sg a railroad receipt for carload OF iar rn
pIoaue's sia9i buyer no;e Of hand FOR sico given
= mango fT goods simple nRR 6 STsa bank qh
c,S1ss arr an in proper sense. instruments q,
commerce, and without their use co'ii'''e'''
cease
RI-TLERS STATEMENTS REFCTED
,,,A means by instruments OF commerce these
.bi,rs or any OF them his statement refutes iseii
>or the most ignorant know that these ms'r
mass freely back and forth among the people dS
--sde and traffic are carried on Perhaps ne means
,i-orrh The agency OF which. in modern Gay >
conrerce is moved. Does ne mean that these IN.
strgmCnis haEs o JTsn 10 breeG business sagnation
so4S anu - "a Zines In the midst OF plenty
n nd readers 10 the eNl0eil ldCh
y success n his wicked goqs2 fbe last twenty
1re wears these agencies Of Transportation nav
been obliged to make easier instead Of harder con-
The figures Of one great transport alton line CON
trolling nine thousand miles OF Ioaa snGW TO- foy
g rs pFe ns fse me from cent per ton per mile
70 LIS m per %5o ion 5 Ped f c dsSf
we've the rates OF twenty-five years ago now IN
,nSrA year than they are actually paving fGI
tansportng heir goods and wares over I the I 9
q time the cost Of carrying wheat from Chicago t.
1ans b asf fe cent DusSe If these are me
results OF conspiracy 10 create hard times In the
'lcess htre 70 follow further the ingenious tissue
O. half-truths and no truths which clothed in IAN
ZION larry he evil germs OF hatred disaffectior
7; Is a noticeable fact that the political leader:
20 whom have referred offer in their present ad
dress curative recommendatio tons Ply fair i'm
we VIII name :he remedies later But we know II
advance what their alleged remedies are. thcN arc
and prominent among these IS the free coinage Of
silver at the ratio Of 1G 70 J. The ruinous character
q ne remedy has been again and again fully eX
posed and shall not not now attempt TO desc,ib'
the shock and ruin 10 our commercial and indus
;rial NE which the inauguration Of this remedy
would bring.
THE THREE FUNCTIONS OF MONEY.
Let me pass all this Let assume that the
suicidal policy had prevailed. that the wrecks o.
domestic disaster had been cleared away. that
now tim hc1 a1fsls 70 hot tCh
Q! fruitful land with rs boundess possibilities O
the economic advantage Of the people 10 possess
silver as the measure OF value Instead Of gold. a!
row? To answer the question. and 10 comprehend
that tho answer IS true and correct, arc forceC
. consider the use that money serves. Money
fUnct ous or qualities: II is medium Of exchange
MEASURE Of values. standard for deferred pay
medium Of exchange. II becomes the measure Q
ttated IN Terms or oIianttfies Of none It mus
also be held in mind that all legitimate business 4
tsins the medium by which the exchange 1
Ne 90 not wan, money for moneys sake, but W
%4nt It for that which Il Will buy; thus in the ex
change OF PRODUCTS Tor products or OF proauet
Necessary; First. chanFe products service
aGc or desired le se1yces Now n process Of time
langs become related to each other in terms Q
value q bushel OF wheat 70 a bushe Of oat
nay be say one bushel Of wheat for TWO bush
els % yet II this be the fact Of their re
lstonship il is never thus expressed. Both ar
measured ~ price stated IN money: out the prlc
o. wheat VIII then be twice the price OF oats pc
blshe! and thus their ultimate relationship :
value IS indirectly expressed. Il Is however, thi
relation 20 each other that is important.
WHAT A MONEY CHANGE WOULD CAUSE
A change in the money. whether that change b
70 one o. higher or lower commercial value tha
We one previously IN use. would cause universe
ctiahgernent In prices and perfect dislocaiion /
the relation Of things 10 each other. Things en-
.oy4hg L foreign market would quickly find ne'
p'Ne IN the new money. and this price would
e-leTmlned by the commercial value OF the net
money Itself IN the foreign market. Things 9 Ito
AZ use and consumption 10 our domestic Tnarke
1"u aooT-qa!0 services OF every klnd, includin
wages. would Ind such avenue 20 speedy re
ao!lstment. Slowly The economic laws woul