The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1875-10-07
Sow. Woodford's Speech, Delivered at
Turner Hall, Cincinnati.

demanded by business morality; it is demand
There are three kinds of money recognized
by the law of the land. There is gold and silver
OF which we hear great deal, Dut see very Ut
tie. A voice, "Good. Ihere are tne Nationa
promises to pay which we call greenbaeks, anG
there are the circulating notes of the National
banks, which we call bank currency The ,, PAN M
currency is redeemabie in greenbacks and pc
cause you can get greenback dollar for every
%oad as oon have te National bank
dollar as the greenback dollar. But you can
every time You want it, The greenback dollar
promises to pay dollar IL won't ouy as mueh
in the city of Cincinnati as the gold that it
promises to pay; it is not worth as much for
your com, if you are a farmer, for your goods,
ifyou are merchant, for your labor, if You are
Now, for example, as am simply quiet
lawyer, who always believe in calling my
WITNESSES TO THE STAND,
we will call the greenback to the stand. First,
it reads "The United States will pay the bearer
five dollars" 1t does not say This is five dol,
lars" 1t says promises to pay five dollars. "
Now, there is a S gold piece; take good look
at it. for yoq PROBABLY haye not tt seen one f9b at a
bill promises to pay. No banker in the city
gold piece Now will it buy as much? 1t won't
buy as much. can take that gold piece to any
banker or broker in the city Of ; Cincinnati and
the dollar. Five times sixteen are eighty.
and eighty cents in fractional currency for that
SIS gold piece. Then that is worth eighty cents
more than that.
= Now have you ever stopped to ask yourself
Just what that difference is? The paper is the
promise to pay the gold, and 1.-THE the promise is is
two things that enter into every promise-one
is ability, and the other is inclination For ex;
you may be just as honest as sunlight, and II
nothing to me. On the other hand, you may
be perfectly able to pay it, and If you are not
inclined to do it your note Is not good gov II yG y1p
and perchanee there may be some here-who
try always If they owe debt TO see if
fney May cah @hen wiss f6at @ note fails due % yo9
and pay Pg him m So SO to it for then il is
worth only $50 to me. Your note is not worth
pay it, man must be able and inclined to
pay his debt before his note is absolutely good.
Iutely good, and is just as good as the money it
promises to pay. For example, you have SlOQ
to whom % you would rather lend that 500 and
get note bearing interest, because your money
that when the note came due you would get
every cent. They are able to pay and they are
Now, there is the note of your government
and mine that promises to pay that s.. Why
don't question the ability of the government to
pay its debt, the resources of the country are
whenever We are willing. The question is not
one of ability but of Inclination. tApplause]
May IS 0o as the n0e seG a Pny Ras
we have not the gold in hand, partly because
taking efficient steps to secure the gold. But
mainly for this reason.
THE MISCHIEF OF UNCERTAINTY.
There are men in this nation, men who con-
troll the Democratic party in the State of Ohio,
men who control the Democratic party in the
State of Pennsylvania, who, instead of putting
best to keep the faith of the nation and en-
faith loud appla1sel And in serious soberness
Il arraign the Democratic party of the great State
Es$&atform and those who, with more cowardice,
are standing idly by while the credit of the ma
= tion is being stoned to death, and like Saul
when stephen was killed, are thus consenting
thereto. 1 arraign them for breaking down
that this promissory note of this nation is to-
day, at is per cent; discount from its face value
loud applausel. That discount of l6 per cent.
is the measure in hard coin of the doubt the
people entertain whether that note Is ever 10
kinds of government notes in circulation-one
will call greenbaeks the ne other @ we call bonds i.
pay gold many years from now, with gold in
% not be as as good as the gold ITSELF and YET could
only get l6 cents premium on that gold, while
twenty years from now with per cent. inter
est, is worth more than the gold itself-it is
worth 40 cents on the dollar
THE DIFFERENT RESULT OF CERTAINTY.
Why? Because the government has reso-
lutely said we will pay that gold 1t has kept
ment will pay its bonded debt in gold, and so
this promise is worth more than the gold ITSELF
Whenever the people of this land, without
regard to darty, will that greenback, which Is
the bond the greenback will be worth the gold
Just as much as the bond is worth the gold
TApplause.l
LABOR AND CAPITAL. NOT ANTAGoNIsTIC.
Now, frankly, with what judgment judge
willing to be judged am here to fight
undermining .the credit of your government
and mine; because believe that it is paralyz-
Vents G our fortunes from being Improved; it
prevents capital from seeking Investment, and
a barrier that does not exist between the capi-
talist on the one hand, and the laborer on the
other. [Applause.l There is and there should
be no lust antagonism between capital and
labor. What is capital? 1t is the surplus earn
gn9s ds 3eive cen nd seeps o We cen
to that extent he belongs to the capitalist class
Eed out of labor in the years that are gone.
eow what is the effort to array class against
ciass?
HOW TO GET MORE MONEY.
1 am glad to see in this audience tonight
many men who are evidently workingmen. l
YOU S1s say YES. If were to talk to an audience
in New York consisting of Horace B. Clafiin,
H Vanderbilt and VIM. B. Astor, and Say to
them, do you want more money!" every
tLaughter.I Now the question is how to get
more money. That is the practical question
now and it can be answered in few words
If 1 can make something that you want,
make it, sell it, and you buy it, and then have
got more money. Or if 1 can do something bet
ter than you, and you hire me and pay me
wages, 1 do the work. you pay the wages, and
go to you and borrow; you take my note, and
then / get the money, and then have got
know. IIaughter.1 Or if 1 have been unfor-
tunate, and am in want, and the good Lord
has put generous heart in you, and ask you
to give to me, and you do so. then have more
z money. can sell, can work, can borrow,
can beg. Is there any other way-la voice,
''steal"-great laughter My friend in the au-
that very loud, for some infiationist might hear
him and think he was hitting off the Demo-
cratic platform in one sentence. lApplause,
and a voice, "Give him another cheer on that"
WHAT COULD WE DO WITH MORE GREENBACKs?
Now, my friends, let us drift right back to the
practical question, how are we to get more
friends get into power; supposing that it was
constitutional to print greenbackS IN time OF
peace, which it is not; suppose they could get
a law passed next winter to print them, which
they can not; but supposing that they have
done it, and they have printed the greenbaeks
enough to pay off the bonds and there they lie,
bright and grand and gorgeous in their green
and their gilt, how are you and going to get
snds oil with them What? You are going
S->ay all these greenhaclIs to those bloated
ond folders? ? Laughter Now ask yourselves
Nv is the government going to get rid of the
greenbacks after it has printed them: The gov
ernment income is now twelve millions OF DOL
lars year more than we spend; government
does not need to spend them. My Democratic
friends do not advise reckless and extravagant
expenditures in order to pay them out?
Well, if You are not going to be extraVagant
in expenditures, and your income is now more
nan y4S 3Se ont nos Is it going to give them
away? You want this volume of currency, as
read in the Democratic PLATFORM made equaI
y are 40 millions of people in this country. If
next Saturday night every man, woman, and
child should receive SIC, there would be S6c0,-
D00,h00 and your greenback debt would be
doubied who vguld be better? The debtors
would have PAID as htqn tne ne di od