Ellsworth American., 1878-10-24
Col. Ingersoll on Finance.

STRONG PLKA FOR HONEST MONEY
MALONE, N. y, Friday, Oct. 4, 1873.
Col. Robert G. Ingsrsoll, In his address
before the County Fair Association, spoke
as follows on the financial issue:
We have had in our country . magniti.
cent imitation. We have built within 25
years some 70 900 miles of railroad, aud
In order to build that We spent about
q 900, 600. 900. Well, there was work tor
everybody We had everything growing
and there was prosperity all over the land.
Everybody worked for everybody-every-
body wanted to employ somebody else.
In the meantime the war came upon our
hands, and in that We spent Sl0, ,0OO. .OOO,-
600. What for? To build up? No; 10
tear down and destroy. Every single. SOL
itary dollar that was spent was wasted by
US. Bu:, AS . matter Of fact. we didn't
spend the mOuey-we only agreed 10. We
scattered all over the country certain notes
which We agreed to pay, amt We have not
got them paid yet. In my judgment, 1t
did not take AS much patriotism to put
down the rebellion AS IL will take to pay
the debt. A man can be brave for few
minutes when he Is right In the line OF bat
tie. aud when he looks and sees that no.
body else runs. Ii Is comparatively easy
to die for a principle. But it is mighty
hard to live for It. It Is hard work to get
up at 4 O'Clock in the morning and work
until the sun goes down. and do that for q
life.
say We spent all OF this money, and we
had what they called prosperity. and while
that was going on the young men left the
farms, and said they didn't want to be
farmers. They said: "We won't farm IL;
we will go to the city" Every man that
could get $500 worth OF goods on trust be-
ca,ne a in.ichant. They wanted to be den-
lists, lawyers, misunderstanding that
there was no work In. When they could
not do that they would start an insurance
association. Then they sent their agents
all over the country to get your property
insured, to get yOnr life Insured, and ev
cry moment you would have a picture Of
coffin thrust In your face to see II you
wouldn't insnre. And those agents would
come and sit down by you and talk about
your last struggle with that monster
death. They got . certain share Of the
premium, and they insured anybody. They
insured consumption in its last hemorrhage
and the money flowed into the society. As
soon as the fellows began to die the com
pany closed its doors. Then they had fire
Insurance companies. The agents of these
also had . share OF the premiums. and
tell You that for six. eight or ten years
they would have Insured an iceberg in per-
dition. Then the merchants filed all the
cars and all the hotels and bars with run
ners and drummers. Every man you met
had three carpet-sacks filed with samples.
And 10 the meantime we had the bankrupt
law, so that every man who couldn't pay
his debt might take the benefit OF this law.
Then Il oil went to the clerks, &C., Of the
courts. never heard Of anybody getting
more than 8 per cent. on any claim In my
life.
| All at ouce-in 1873-there came crash,
and the brother that had staid at home and
worked on the farm saw 10 the paper that
his brother, who Was President Of . life
insurance company, WAS . va2rant and
vagaboud. He read, too that 1t was Ia
the hands Of the Receiver, and that its
bonds were - worthless ~ the first Au-
tumn leaves that grew on this earth. Then
be began To think that he was doing we'll
himself; and the fact IL that the men who
cultivate the soil arc to-day the richest, on
the average, Of any class Of men under 0or
nag. Then We gos hard times. Everybody
who had . mortgage - an adornmeut 70
his property has suffered. Nov they say
the way to get back-the way to have pros.
perous times aSain-is 70 sgain 90 In debt.
Suppose I bought . farm for e5 900 and
gave my note for Il ;aad then l bought
horses and wagons and gave my note; and
then bought piano for Mary and gave
my nots, aad cent James TO school and