The Detroit times., 1908-02-06
HOT SHOT POURED
into F|NAhC|ERs
BY BRYAN
NE7RAskAN TELLS cARNEciE,
GAGE AND MoRAwETz WHY
THEIR TALK OF A GOLD STAND
ARD PUZZLES HIM MUCH.

NEW YORK, Feb. civilian y.
Bryan locked horns with Andrew Car.
negie. Lyman j. Gage and Victor Nor
awetz at the banquet OF the Economic
club. I'm the Hotel Astor, last night.
The three latter fnanciers attacked
the policies OF the Nebraskan through
out the caustic speeches on the none
tary situation and in return Mr.. Bryan
told them that they were perfect rep
resentatives OF the type OF men who.
by their own admission, have forced
upon the country the worst banking
system in the history OF the world
Henry Clews. Stuyvesant Fish, Jas.
Speyer and $50 other well-known men
applauded Messrs. Carnegie. Gage
and Morawetz heartily. Mr.. Bryan's
address fell upon a chilly stiffness
and several times he was caustically
interrupted In the course OF his ats
tack.
carnesie's "Spiei."
Mr.. Carnegie said:
I'VE must not NEEDLE with the
finances until we have settled an
other little matter next fall Fate has
sent us two deep humiliations. One
is the worst banking system since
Adam. In this respect we are dam
gerously behind every other country
In the world. The civil war was 70
blame for 1t, for during the civil war
we were forced to make bonds stand
for everything We have not changed
that system since, and now 1t operates
to loss OF s150.000.000 to the coun-'
try every year.
II want to call that fact to the at
tention OF the presidential aspirant.F
here present" continued Mr.. Carne-'
gle. amid an outburst of appiuse from
the banqueters.
Never Party Question.
In calling upon congress TO Keep
its hand off the situation, Mr. car
negie said
Banking has never been party
question. Let us not inject IL now Dy
making this matter a congressional Or
presidential issue"
Following Mr.. Carnegie, former sec
retary of the Treasury Gage mace
speech to the same effect
Bryan Sails Right In.
Mr. Bryan. who followed the ex.sec-
retary. lost not moment In beginning
hia attack upon all three preceding
rpeakers. There was q battle CLINT a.
his eye as he began:
..For the last AZ years. the financini
AFFAIRS of the country have been In the
hands OF men represented by the three
nreceding speakers here tonight. fou
can't blame me or my party for the last
nan,c am glad to hear these men
here admit that they have evolved the
worst banking system ever known. 4
came here expecting to hear some
ideas OF what should be done 10 cor.
rect the system, and | find that All
they know is that they don't know
what should be done.
well. these speakers advise the
appointment of commission TO delay.
any financial measures for year.
That's the way people who are AFRAID
of the result OF an election always Try
10 handle such a matter. But say
that plans should be made now so that
the peopie will be given chance 70
saw what they think about the situa'
ton and whose plan they like best.
"Your talk OF a gold standard pug.
zles me. Why denounce the govern
menC TOT ISSUING $f1svvVfVVv - k'S~>s-
ises to pay when you don't denounce
the banks for issuing 5000
promises to pay?
Billions Behind In Gold.
Another thing--if you're only go
ing to use gold for reserve you had
better stop having reserve at all, be-
cause there isn't enough gold to mako
one. Even with your silver and green
backs you're billions behind having
enough gold.
Personally" went on Mr.. Bryan, *
am not in the least affected by tho.
panic. I am not politically Affected,
either. The fact Is can now prove
that my party Is not the only one un-
der whose administration panics hap
pen.
"And il you blame the government
for buying silver at GO cents and SELL
Ing it for 81, what can you say of Wall
81. 3 issue OF billions in stock that rep
49,