high authority that I think that we must accept it as true--that the great patronage appertaining to the office of President of the United States involves a public peril. Now, suppose we add to that danger a hundred millions of dollars that the Secretary of the Treasury can put in this community or that, in this bank or that, at his pleasure; is not the power of the executive perilously increased? Is it right that the use of this vast sum should be a matter of mere favoritism, that the Secretary should be allowed to put $10,000,000 of this surplus in Indianapolis and none of it in Kansas City, or $75,000,000 in New York and none in Indianapolis? If the money is used in buying bonds it finds its natural place--goes where it belongs. This is a most serious objection to the present method of dealing with the surplus. But if you still object to paying the market premium when we buy these bonds, see how it works the other way. The banks deposit their bonds in the Treasury to secure these deposits, get the Government money without interest, and still draw interest on their bonds. If any of you had a note for a thousand dollars due in five years, bearing interest, and your credit was so good that the note was worth a premium, and you had twelve hundred dollars that you could not put out at interest so as to offset the interest on your note, would you not make money by using this surplus to take up the note at a fair premium? Would you think it wise finance to give the thousand dollars that you had on hand to your creditor without interest and allow him to deposit your note with you as security, you paying interest on the note until it was due and getting no interest on your deposit? [Laughter and applause.]. I welcome my young friends from Parke County. There is nothing fuller of interest than childhood. There is so much promise and hope in it. Expectancy makes life very rosy to them and them very interesting to us who have passed beyond the turn of life. [Applause.] You are fortunate in these kind instructors, who from week to week instil into your minds the principles of religion and of morality; but do not forget that there is another vine of beauty that may be appropriately twined with those--the love of your country and her institutions. [Applause.] I thank you again for this cordial evidence of your regard. The skies are threatening, and as there is danger that our meeting may be interrupted by rain I will stop here in order that I may meet each of you personally. [Cheers.] INDIANAPOLIS, SEPTEMBER 26.