This is Carl Schurz's argument against American overseas territorial acquisition which was starting in earnest around the time he made the speech. In his letter to Charles Francis Adams of January 1, 1899, Schurz described the speech as follows:

I send you herewith an advance copy of my speech to be delivered on January 4th, at Chicago, in the lion's den. You will think it very long and so it is but not as long as my sound money speech in 1896 was, which had an exceptionally great run. This speech is to serve the same purpose, namely to be a sort of vade-mecum for speakers or writers on our side of the question who will find in it answers, or at least suggestions for answers, to every argument brought forward on the other side.