The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1876-05-02
SOUND MONEY.
sound Argument on the Money
question by Gov. Woodford,
OF New NOrks

has thorough knowledge OF the cur
rency question by observation and ex-
perience for the past fifty years, re-
quests the publication OF the follow
ing speech OF Gov. Woodford, Of New
York, at Cleveland last fall, in the
STANDARD, which gives his views of
the question at the same time he
gives it as a reply to the committee
who solicited him to join the so-called
Hillsdals ureenback Club:
MES OF CLEvELASD:-I have passed
with wonder and delight through your
city, so busy vet so beautiful. Around
il stand your furnaces and mills like
giant sentinels. From forge and foun-
dry rises the smoky pillar Of cloud by
day, of fire by night, that guides yonr
way and marks your progress.
Here, too, are the best results of
faithful labor, thrift and wise economy.
Here are happy homes, free schools,
free churches. Here are strong arms,
trained heads, warm hearts. Such are
alike the pride aud grace OF Cleveland.
But enough OF greeting. We have
shaken hands right heartily. Now to
work.
Iwonld speak tonight for industry
and labor; for our own Industries, our
own labor; for American industry,
American labor.
This is not selfish. Ii is wise, right
and instly generous. He that careth
not for his own is worse than an inh-
Il n
You should not trespass upon me. l
ought, however, to clothe and feed and
care for my own so that they become
neither burden upon you nor charge
upon the town.
Such caro- this great people owe and
should wisely give to our own manu-
facturers, our own industries, our own
labor. III allegiance to the State is
due from the citizen, wise and equal
protection TO the citizen is due from
the State. (Cheers.)
Iron aud coal aud cotton. Pause
and think OF what these three words
mean. Recall the toiiing thousal ads in
mine and pit and field, in furnace, mill
and factory, on railway and ship-the
toiling thousands to whom these sim
pie words are bread, clothing, life, with
all for time and for eternity that life
involved.
For these great interests. these giant
industries, these many workers. would
speak to, night. (Cheers.)
With this graceful and striking in
PRODUCTION, which had riyeted the at
tention OF The audience, the speaker
plunged at once into his subject. The
Democratic party il it should be sue
cessful in this campaign, would, he de-
clared, strike a death blow at the man.
ufacturing interests upon which the
prosperity OF the city is founded. 1t
would parslyzo the greatest industries
upon which the people OF Cleveland
depend. One OF the planks Of the
Democratic State platform demands
that one half OF the duties shall he
paid in greenbacks. III, by the success
| of the Democracy in this State. that
demand should finally be granted, how
would the immense iron interests of
the city OF Cleveland aud the State of
Chic he affected? The English iron
manufacturer wonld then be able to
get his iron into this country for at
least eight per cent. less than he is now
compelled to pay, and the yalue OF
American iron products would decrease
Just eight per cent. This result would
be accomplished 10y permitting the
English iron manufacturer TO pay half
his duties in greenbacks, while he is
now compelled to pay the entire amount
in gold.
The need OF the people Of Cleveland
for better times is fully rs pressing as
that Of any community in the land. -
How are better times TO be brought
about? BY an honest and sound cur
rency, whose value will not be con-
stantly huctuating, but which will buy
just as much to-day as 1t had bought
yesterday, and just as much to-mor-
row as it will buy to-day. The Ohio
Democracy now propose to postpone
indefinitely the time that would witness
the establishment of such currency.
Hero the speaker took from his pock-
ct five dollar bill saying:
Here you have five dollar bill.
wish Won had more of them. | wish /
had more OF them myself. attended
a meeting addressed by Mr.. Cary, the
! Democra ic candidate for Lieutenant
Governor, the other day, and he de-
clared that what the people wanted was
more money. Then he said: "Now, II
there is a man in this audience who
| don't want moro money, let him stand
up" or course everybody kept his
seat. II was To go to New York city
and make a speech to an audience CON-
posed OF such men as A. L. Stewart,
Commodore Vanderbilt and Horace Il.
Claiflin and ask them that very same
question, not one OF them would stand
up. Everybody, high or low, rich or
poor, wants more money. Bnt the
question is how to get IT? First:
Work and earn il. Second: Sell some
thing that will bring it, Third: Bor-
row it. Fourth: Beg il. Fifth-what
is the fifth and last way 10 get more
money? a voice-"Steal it," Yes.
as my friend here suggests, steal it.
In Que word he correctly puts in one
word of tho Ohio Democratic platform.
Imitation means rcpudiation, aud repu-
diation is theft. Cheers. II you
would escape Reputation tomorrow
you must defeat imitation to-day
! tCheers. There is money enough in
the country and to spare. Are there
not greenbacks in this city to buy ev-
erything that is for saley Does not
the trouble lie in the fact that this
money is not in circulation The
question is not do You want more mon
ey printed, but do you want business
to star. mp so that the money that is
now lying idle will be put in circula-
ton. Suppose that more greenbacks
should be struck of by the Govern
ment presses, how would you get your
sharep Suppose that 81, 100000 IN
new greenbacks should he issued by
the Government, Who would get it?-
The bondholders, the very bloated
bvndholders over whom infstionists
like Mr.. Gary take on so terribly
that's So. In what way could you
derive any benefit from the new issue
A voicc-"rax the bondhOlders. " l.
Tax the bOndhOlders? You cant do
it, When the bondholier furnished
his money to the Government. u took
the money aud promised to pay him
six per ccnt interest on II. Hold ON,
nv good sir. | am glad You made tha.
suggestion. aud now " you tar hIm,
do yon not, 10y the amount of that tax,
deprive him of the interest you prom
ised W psyg" Voices, That's "a. y
Here some Que in the audience said
'but Why not paw the bonds in green
backs. after slf3'
Gov. Wuolfonl resumed. I thanl
you for thus question. A bond il th.
pr mise tp pny nc certain time will
interest. A greenback In the promis,
To pay at DO given date aud bears n,
interest. III / give you my note 10