Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1878-09-13
THE PRESIDENT IN THE WEST.
ne SPEAKS ON THE FINANCES.


MADISON, Wis. Sept. 10 The Presidsn-
tial party arrived this forenoon, greeted by
a large concourse. Among those who psid
respects to the President were Senator
Howe, eX-GOy. Rudington and General
Williams. The Preside nt was publicly
welcomed by the governor of the state and
| the mayor OF the city and made a brief &C
acknowledgement, as did Devens After din
ner the party proceeded to the fair grounds
where large crowd had assembled. The
President being introduced paid handsome
tribute to Wisconsin and her educational
and benevolent institutions, alludIng TO the
| gilt for university purposes BY Governor
Washburn The President then entered
upon a discussion of the finances. very
much in the same way Us heretofore, giving
new illustrations and calling forth very
| hearty applause. One of the new points
made by him was in reference to paper
currency which some persons demand. rne
| President said Some of our good friends
think our currency is not cheap enough
They tell Us they want currency cheaper
than gold and silver add of such quality
that 1t will be good at home al
though 1t may not he good abroad.
Truly that must be very de-
slrable quality in curreney-a currency
that will always stay by you Let US talk
about that little. The champions Of this
currency tell US what thev oug ht to have is
an issue of paper which BY act of Congress
should say one dollar upon it, and be worth
one dollar in this country. OF course We
do not want it counterieited, they say.
am afraid it would not be great while
after il was issued before il would not be
of sufficient value to be cuunterieited.
Applause and laughter. They would
have dollar printed on good paper, with a
Oh
ing. What does such dollar cost? They
say they want good currency.
With US that means coin dollar.
We know what such dollar costs,-
that It represents day : work or a bushel
Of wheat. Does a paper dollar represent
any such unit of labor No. The cost of its
production Is less than one cent for each
dollar bill. Herein We certainly have
great saving -asavlng OF nIdtS nine Cents in
labor over the silver OF gold dollar that costs
a bushel of wheat or a day labor, As we
hsye seen. Now as it costs no more TO
print the word two" than the word one
let US improve the opportunity, and make a
bill read two dollars and We shall save one
hundred and nInty-eIght cents Laushte
and applause Now my friends If we were
to undertake TO make two dollars out Of
gold 1t would cost two days labor, or two
bushels of wheat Tho advantage then ap-
pears 10 be on the SHE of cheap currency and
let Us improve the opportunity offered to
make our bill read "ten' dollars
instead OF two, or 'One, as the cost is
only ono cent instead of ten days labor or ten
bushels of wheat, or multIples, with no
more cost than for a single dollar. We are
doing well, but not wisely, | fear, for We
mig hit not choose well ard now We will pay
the national debt with it, and then Mr..
Senator and MIR. Congressman, We will paw
you of in the same, and | fear they might
turn upon me and say, Well, Mr.. President,
we will pay you of In the same kind OF
money. Laughter My friends, does it
not begin to dawn upon You that there is
some mistake about this--that this is really
nh,tiun and if congress can pass law Tor
such currency that will not be good beyord
the boundaries OF the union, why may not
Wisconsin adopt a currency which Will not
be of value beyond the state limits, or why
NAV not the CITY Of Madison adupt a Cur
rency which would not be accepted else
" here or Mr.. Smith issue dollar Ia the
words '-one dollar, John smith, Ii wouId
certainly stay at home and that nav he an
argument in its favor. Applause But
my friends, we cannot II We would. we
should not II We could. isolate ourselves
from tho rest OF the commercial word. la
all our measures for the improvement of our
member that the necessities of trade with
oreign nations require that our financial
condition should be based upon principles
whose soundness and wisdom are sanctioned
BY tho universal experience and Judgment
Di mankind. Balances must be settled IN
the money of tho world. With
diminished and still decreasing burdens of
tho public debt, expenditures and interest
with the improved condition oil the cur
-ency and foreign trade, we may surely pre-
iict We are about TO welcome better times;
,ut we must not forget the surcst tOuuda-
ion of restored financial prosperity is
,ound constitutional currency and national
,redit untarnlshed. Long continued ap-
,Iause Speeches were also made by
Deyens, Col. Ysncy OF Georgia, General
lever and others. 70 night a reception was
eld. which was largely attended. The
srty leave tomorrow for Milwaukee.