The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1878-10-17

loses his labor, unless that money is
worth as much as it was theday be re-
ceivcd II. But they say there is not
money enough. say there Is plenty,
plenty; wish could get 1t. We
don't lack money. The banks have
got plenty OF money; certain portion
OF the people have money. We are
lackingi collaterals that Is what we
are lacking. You can get all you
want on call in New York at one and
on6-half to two per cent; and do you
know why you don't go and get it?
Because you haven't got the collster-
ais; and if we are going to pass law
on this subject, l would like to have
Congress pass law furnishing us co..!
laterals. But it will not do; there is
10 foundation to it. When that mo-
ney gets out it has all got to be paid.
Call it fiat" money-call it what
you please; the reason that a gold dol
lar is worth dollar is because you can
buy the results of the same amount of
labor that it took to dig that gold dol
lar and to mint 1t, including all the
fellows that hunted and didn't find it.
If you take piece of paper and say
that it represents s. to Slot only
represents 1t because there is promise
to pay that money-it Is only good
when you believe that the man or
government that made the promise is
good, aud you can't 60 beyond it.
Suppose you could blot from your
mind that there was such thing as
gold and silver-what is dollar, just
leaving gold and silver entirely out?
You have got fiat" bill that says il
is SO, and it is valuable because it
never will be redeemed. Gold and sill
yer is valuable of itself. When I take
SO gold piece and go to England, l
have to sell it the same as would a
bushel of corn, and all that spread
eagle nonsense doesn't add one solitary
farthing to its value. And when
sovereign comes here from Eng
land, we don't care anything about the
beautiful picture of Queen Victoria, or
any other girl. 1t ls worth so much
and no more. But they say that it is
the stamp of the government that
makes it valuable. Why not stamp
them tens, thousands, or millions, and
let US all be millionaires2 1t won't do.
We will never get prosperity in that
way. Slowly, steadily and surely our
money has advanced; slowly, steadily
and surely the world has had more and
more confidence in the industry, the
honesty and the integrity of Amer
lea, and to that extent our money has
advanced until it has finally clasped
hands upon al equality with the pre-
cious metals. We are just inside of
of port. We came in, tempest-.ossed,
every Sail torn and rent, and every
mast by the side; and these wreckers
stand on the shore and say if you want
prosperity put out to sea once more.
We don't want to-we want honest
methods. No man lives in a country
whose money Is under par that he does
not feel little under par himself. 1
never took out o bill that was at two
or three per cent. discount that did not
feel little that way too. This great
and splendid republic, with the most
intelligent and the best people in the
woodland I say the most honest Il
want its promise to be as good in every
part of the world as the promise of
any other nation. 1 want the green
back to be preserved; I want to have
gold and silver behind it; l want it so
that if should go into the furthest
isle of the Pacific and should take out
greenback, savage would look at
it and his eyes would glitter as if he
looked at gold. Then you feel like
you are somebody; like you had a
great and splendid nation, and even
that old flag would look better if every
promise of the United States had been
redeemed. And you never know how
much you feel like that until you go
to foreign country. When was
there few days ago, just happened
to see that old fiag-it looked to me as
if the air had just blossomed out. l
want to feel that way all my life. 1
want to feel that man is capable of
governing himself, aud that a republic
can government is the very acme and
height of national honor.