Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-09-11

be worth one dollar in the country. OF course
we do not want it counterfeit, they say. I am
afraid it would not be great while after it was
issued before it would not be of sufficient value
to be counterfeit. iApplause and laughter. !
They would have the dollar printed on good
paper, good looking picture, showing good en-
craving. What does such dollar cost? They
say they want good currency with us. That
means coin dollar. We know what such dol
lar costs. That represents days work or
bnshel of wheat. Does paper dollar repre-
sent any such amount of labor. No, the cost of
It's production is less than one cent for each
dollar bill. Herein we certainly have a great
saw ng, q saving of SO cents in labor over the
silver or gold dollar that costs bushel of
wheat or days labor. As we have seen, it
costs no more to print the word two than the
word one. Let US improve the opportunity
make bill read two dollars and we shall save
one hundred and ninety-eight cents. Laugh
ter and applause.
Now my friends if we were to undertake to
make two dcfiars out of gold it would cost two
days labor and two bushels Of wheat. Tho adj
vantage then seems to be on the side of cheap
currency, and let us improve the opportunity
offered us and make out bill read ten dollars
instead of two or one, as the cost is only one
cent OF ten days labor or ten bushels of wheat
or multiplies of ten with no more cost than for
the single dollar. We are doing we'll but not
wisely. fear, for we might not choose we'll
and now we will pay off the national debt with
1T, and then Mr.. Senator and MIR. Congressman
we will pay You off in the same, and fear they
might turn upon me and say, well, Mr.. Pres
ldent, we will pay you off in the same kind of
nancy" lLaughter.]
My friends, does not it begin to dawn upon
you that there Is some mistake about this that
this is really imitation? And if Congress can
pass law for such currency which will not
be good beyond the boundaries of the nation.
why may not we design and adopt currency
which Will not be of value beyond State lin
its! Or may not the city of Madison adopt a
currency which would not be accepted else
where or Mr.. Smith Issue dollar in the words.
"One dollar, John Smith? 1t would certainly
stay at home, and that may be an argument in
its favor. lApplause.l
But, my friends, we cannot if we would.
isolate ourselves from the rest of the CONNER
clal world. In all our measures for the i'm
provement of our financial condition, we
should remember that the necessities of trade
with foreign nations requires that our financial
condition should he based upon principles
whose soundness and wisdom are sanctioned by
the universal expense and Judgment of man
kind. Balances must be settled in cash. in the
money of the world. With diminished and
etill decreasing burdens of public debt, expen-
dltures and interest, with an improved con-
dition of currency and foreign trade, we may
surely predict that we are about to welcome
surest foundation of a restored financial pros
perity is a sound constitutional currency and
the national credit untarnished. Long con-
tinued applause
Attorney General Devens, in the course of a
short speech in which he made special mention
OF his interest in that portion of the Northwest
through which he had lately passed and the
wonderful growth and prosperity of the West
ern States. said in conclusion: That we saw
here something of the work of Massachusetts
man. The capital city named from the
President whose wise administration gave US
these peaceful homestead laws, James Madison
an honored citizen of Massachusetts,. Nathan
ordinance of 1887, which, with the assent
OF all the States, framed into
the Union under the constitution
aud sealed freedom forever to the vast North
west. They are all gone now. new roll OF
members succeeded the men who framed that
constitution. The man who prepared and tc
whom is due so much credit for the ordinance
IS the man after whom your county is named
Remarks were also made by Col. Yancey. oil
Georgia. Gen. Meyer, and others. Tonight
reception is being held at the capitol, which il
attended by several thousand people. Attorney
General Devens was compelled, by the ex
igencies of public business, to leave tonight
for Washington. His absence is deeply regret
ted. The future movements of the Presiden,
are somewhat changed. He will leave 81
noon tomorrow by the Milwaukee 6
St. Paul road for Milwaukee
via Waukesha, stopping for brief time al
that place and Whitewater. arrive at Milwaukee,
at half-past at night. There will be recep
ton Thursday morning. The city will b,
viewed and large assembly of Germans in tn,
northern part of the city visited. At O clocl
he will leave by the Chicago q Northwestern
road for Lake Forest, stopping for a few mo
ments each at Racine, Kenosha and Waukegan
He will spend the night at Lake Forest and ol
Friday be the guest of the Chicago club II
will reach Fremont Saturday morning.
TOUCHING THE PRESIDENTIAL PALM.
Special Telegram to the Globe
MADISON, Wis, Sept. 1O.-The reception a
the Capitol was perfect jam tonight. Thou
| sands of people were unable to gain admission
| to the assembly chamber, where Mr.. and Mrs
Hayes, supported by Gov. and Mrs Smith
were receiving the citizens. A line was forme
| two or three deep, and for two hours the fare
of hand shaking was inflicted on the quartette
] and when they were tired ont and escaped t
| the private room of the Governor, only half q
| the anxious ones had touched the Presidentia
palm.