The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-08-24
TNg FlNAM0Go.
Speech VI Hen \. 7. Allis. tlr~s.
bach kemimes feF t,evvrnet
af wisre~ssn.
Tht Casunts frseA~M Distressed ~ 4
Practical nsssssm Han,

TIA fawstA 4. Ash@ sAe ss~mss#x "A sh+
ssss#sssssA swss. T. tsassssws "A Nss~ss#s
ss~sas1s AsMstssA ~ *sasvss A. a A.4vs Aaa
ssw~ a ~ Aesasas n A.ssp. IL Ms.~aas4s
tss Fulse~As# Aas~s a ~hAA - naa " w.
assfsass - stst ass
Iht ssxAss sssAsv@ssre sAss ssss 1--we
a*asasataA ntash W ~ laa sssss l~ss~e ssssss,
] ss~vsa ii lssaAsra. es4~et a~tess ! Nsl~sssass
saaasf~e sltsa wallissx asste asvasne M t~u
isas ~ shs tesHm ssss tssM tlse tasss NJ hss&s,
| mAs sasuF anl iMnami ahssI Ms kAu haA esssss
HsAs ssrA thin Ifausrh h. ~isias.A III AAss
mstlas slss saaliie sHH ths ssnssta.n - faslslss
a.AAss vs. sls~srvi - n es.ssawa lAiua~ NJ - Il,
tsasss sssyist un asss fstrssis ~ weil A. satxsn
hssas4as. Tbs eusnsv "A rv#as haa tsrs,Tt,l
hsns sar snssssns's lsfssa the fsngsis b. esb.
! shdats ~ The htglsa siBsa in ihs STATE ~.
~itNsu " embarrassing aa uts~uagit. snsi hlYl
as ~ ss'e#Nsd Iae lsfsnas u hsa acssla.sl
stth hs'nf sHaswasang TIN msaassup duty
lise sanNa fs ai,isA Ii. a,g#arsA ilsasixl
Eade ihr iAiga f.f ttiismi.. was 81 him esss
passing, important ami hnls prw.
Nj only AhWsisA, tat tlsr .astir. easslIsss
mtld. sail the l~Aksf, II snInihg frssn
waM u lmnai,ssss ~ the irW fasasion II
n'M, y. riaihn Y ssi~s. Isfsrvss As,si ri,allyA
~. Isnalssn, and thai frv~ Peoples eosstn.
nisnt cA.sses lang csisi vAcsia in accord with
that tfns tsiaisa IL ,l.l4t 81 tangrest.
u wss, thervf,se. not simply question ~
temporary iullcs, Int question ~ esuad as
hnnaaisss, aas.l y rssinsd ~ Tie si~aku ~ rtv
| ~ the insrksd .s.sds IN The history 10 The
/ world. The war Massl ta strike tin rslling
f,stsfs of iron ftoit its hlacl man had a. il,
estvsniiiani, tltv t.aellli4 how thu depressing
s.'ters u g,hh siaoulsl IN stricken ft,m slis
4 white niaii
Mnncs IL -ena kind liz declared 10 l,c an al
L Mpufl essential
Yines without II ih, sasv could mt advance.
/ Progress Il oniy asvomtslis "a bs gain and that
gain, 81 any extent. ohtaan.sl through ns~ocia.
t"n and exchange. Tie tSrhanRc must hav.
an appropriate medium, anil this medium IL
money. Ihe cau.e IL civilization AMI progress
ccnsercd in love of gain, and the sentiment i.
universal IA thr human heart. To-day. A. Iii
| The rAst, All are striving fur gain. and failure
~ accomplish .ain pr,,ci relrugrcsSton III ths
racr. Tic sleaksl said
II \ not gnll. lint gain, We are striving for ;
gain III wealth gain IN power gain III homer
gain IN ialluencs gai, Ia pal,s-gain in rev.
crunco gain IN position gain III culture gain
| ~ knowledge gAin IN pleasure II Ii Tor gain
| IN something that our hearts all 60 out. and
Just ~ that love for gain extends IL higher,
holicr things. Just ~ Is thu race elevated a,ni
cAnoblcl. Gain III material thus cinanatps from
association and labor. and the dissemination VI
gain y exchange. and the means VI exchange
| Ii money.
In early Ages, when mankind wrrc rude. aud
governments were weak and crude, thar
tnoiscy partook " tho character " the time
AMI pcuple, and wAs " lo~ order, beginning
With sticks and stones. ald shells aud skius
Inc val'ic ~ tho money was sometimes intrin-
stc, aid sometimes = matter Ut allnplc public
cstocnl. For instance, = she'll rare la Africa.
hut of nO vaimc. was uscd ~ money. The
sAnle shall WA plenty IN India. and u no cs-
t.cn This fact was taken advantage III hy
more ctsilised natlnur and thu shell was takci.
| III khil~loadr from ludia, where valnclcas, To
Attira, where rstcrmrd and exchanged for
tAcir valuable commodities.
fnm very early times silver and gold have
| b.'l, used - money, and Merr admirably adapt
I'd tar the purpose and the time. 10 their dts-
| cosefs and ure, A. ,nnucy, va can scarccl, Ut.
| tach toe high All importance.
| ~ the raee had omtgiuwM thu ruler symhuls
~ thu earlier tinl,, aud had nut reached high
i degree ~ government ar of public or private
salll', gold and silver came, and, by thuir he-
/ nign lniluenee. humanity took 4 giant. leap.
hui the prutinn. n,etal. thal WIRE once nh al
vance. AMI suficient for the tin,c, have long
been untgrUwn and uut.trinpcd In volume, and
the ability u mankind 10 lAior and accomplish
gain by association has ovcr-rcached their
ability 10 exchange.
The loA,,ablc capital of C,rca, Britain alon.
u EIratar than All thu gold In lll. universe and
yot that loanabic capital Il NIL claimed to hs
gold, ~ y AiSo the laanablc capital of othci
| Nations % thu Earth.
The pnhlie debts of the principal civilized
mA.ini.s ~ The earth, all payable IL eood ars
ilse Times Over all the gold In the world. Tbs
biftilcss transactions ~ thu wnrld fairly pm,
the solinlc Of gold 10 shame. tho annual clear
iilRs of the London hank, alu.,c being iise
times. and tlosr II New York fostr tin.es. I'll
thu gold IN ti,o known world.
Onc Ut these fictitious means Of incrras asint
the volume ot tho precious melAls, Ia ual
country was III. ro.cAllcd siNcicpayinp
honkws
4 bank WAS permitted 10 is.no tlye dollars. o.
iuofe III PAPER for cvery ono dollar Ia euinti
p,ascsstsl, pFuniring 10 redeem Il I'll IN com,
/ Oh dcinalnl.
| In thi. WAY lh. volume of coin. Tor practical
p,iris~cs, wAs largely nnlt plia Aii 4,,cl. bAnk,
| we're great Aitls 10 bu iisUaA and pruNr,ss; In
their days and while thes lTuslHrud.
| 4 noeAblo and s,assussful Instance ot thi.
multiplying thc volume VI cuin for practical
p,Mr"Aas oce.,lred IL our city. Alexander
Mitchell established here III INSURANCE COM
pnny, with permission 10 issue hills nj ,ititu.,
Tho Northwest waa INV and without motley
| and ltA progrcsH ~. slow Aild painful. Mr.
Mitchell Wa NAL, u known Abiltty, aud M
blenlished integrity, and our people eAgcrl.
.o..gh! 70 use hls nsoncy which hc freely dis
isn.ssi, aud this for years was our priiaciI,a
medium of exchange. Tho use of this nole,
added largely ~ the early prosperity of III,
| Northwest, and Tor this benefit vi shOuld cvu
hold Mr.. Mitchell in grateful rsucmhra.ce
lhis ryetum " multiplying tho volume ~ thcs'
precious metals, however. conlAined within u
aolf thu seeds of IT. own dissolution. In Il
promise u pAy IN demand. i've times. Or ovur
more coin than II had.
Those banks might have other thing. Just Il
gooL \. coin, but the prultiso Wan coiii. and L
II evident thAt tl,cir ability 10 redeem th.
promise oily lasted while they ~crc mot callcs
1lnn 10 do M.
Had those tanks promised 10 pay III some
tkiilg which they cstcculcd Just ~ good 4
cain, and bvuil hnncstly and well managed
they would have been built npon truth Nj,
might havo stpsi but they wcru built utul
ptulNr basts ~ rest public " private wclfar
uIon.
A notable instance nj this system Of banking
" this nlos..ent existing. and great po~ur Il
the world, Ii tho bank VI England.
This iiction this .uhterfMge Il beneath N,
sl.ifit q elie Axu -lchind tho prcscit advance
VI civilization.
The truth should M acknowledged All,
openly eunfuriaed ~. aud IL llte volume VI th
precious metals " not sufficient for tho n~e q
tho wurld ~ money, III substitute Or rMrpu
mcMt should iu placed an ~ own fonulAslol,
! bscn tho cam1 VI tho ordinary coninscrciA
lA,lius and co,,snlrinn that have fruni time |.
lilllc tNcpt over the commercial world likc III,
. bueUm ~ destruction, aud these cuinsi.cr
ciAl rlnluutas will cuheulu0 10 serVW the Maflt
with business wtrcks Just ~ loi.. - this sub
tcrfnge Ii rusurtud 10.
Wherever lsoplp have attempted ~ supple
t,ent tbs volume ot kuld Il hes been BY mean
" . debt, Alsd thay hava called tAs debt gold
and the uiAinSiilg quality Vi thu snbxlttnte d.
pended upon tbs character II Tho debt.
This question VI dsbt Ii ono of dcsp tntcre~
and import, and iA closely intwlncd with tho hl
mann family.
Comincilring with individual obligalion o
the slightest form, Ii han hsun cvss Mrssul au,
ever iiscruaAiiW, aud u to-day thu tarEeM 81,
, most important Hlstieturu on earth. Wu hes
q sAil, tho present trouble Il CAUSED by ds'bI
Why did ynn gct In debt Pay ynslr dUbt.
&c. Or dehts can only hc i'ed II barbarian
I)eht Il |. debt everywhere. Dcbl above "
debt around ~ ~sdNhl hOtusAh ~.