Daily Kennebec journal., 1878-10-09
Col. IngersOll on Finance.
A STRONG PLEA FOR HONEST MONEY.

Col. Robert G. Ingersoll, in his address before
the County Fair Association, spoke as follows up
on the financial issue
We have had in our country a magnificent in
, a,tion. We have built within 2j years some 49,
900 miles of railroad, and in order to build that
we spent about s. 900 100000 Well, there was
work for every body. We had everything growing
and there was prosperity all over the land. Every
body worked for every rybody-everybody wanted
to employ somebody else. In the meantime the
war came upon our hands, and in that We spent
5000 00,000,0o0 What for To build nPf No; to
tear down and destroy. Every single, SOLITARY
dollar that was spent was wasted by us. But, as
a matter of fact we didn't spend the money-we
only agreed to. We scattered all over the coun-
try certain notes which we agreed to paw, and we
have not got them paid yet. In my Judgment,
ii did not take as much patriotism TO put down
the rebellion as it will take to pay the deot.
man can he brave for few minutes when he is
right in the line of battle, and when he looks and
sees that nobody else runs 1t is comparatively
easy TO do that, and be shot down at the post of
glory. 1t is comparatively easy to die for prin-
cple. But it is mighty hard TO live for it. 1t Is
hard work 10 get up at 4 o'clock IN the morning
and work until the sun goes down, and do that ioi
a life.
say VIC 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
thev didn't want to he farmers. They said ave
won't farm it we will go the city" Every man
came a merchant. Thev wanted to be dentists,
LAWYERS, doctors-something that there was no
work in. When they could not do that they would
start an insurance association. Then they sent
their agents all ever the country to get your prop
er,y insured, to get your life insured and every
nome n you would have picture OF a coffin thrust
in Your face TO see if your wouldn't insure. And
those agents would come and sit down bv you aud
talk about your last struggle with that monster
death They got a certain share OF the premium,
and they insured anybody. They insured con
sumption in its last hemorfhage, and the money
flowed into the society. As soon AS the fellows
began to die the company 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 perdition. Then the
merchants filed all the cars and all the hotels and
bars with runners and drummers. Every man you
met had three carpet-sscks filed with samples.
And in the meantime had the bankrupt law,
so that very man who couldn't pay his debts
might take the be neit of this law. Then it all
went to the clerks, &C., of the courts. | never
heard of anybody getting more than 3 per cent.
on auy claim in INV life.
All at once-in lS13-theYe came a crash, and
| the brother that had staid at home and worked on
the farm saw in the paper that his brother, who
was President of a life insurance company, was q
! ,igrant and vagsbond. He read, too that il
va, in the hands of the Receiver and that its
bonds were as worthless as the first Autumn leaves
| that grew on this earth. Then he began to think
that he was doing well himself; and the fact is
| that the men who cultivate the soil are to-
day the richest, on the average, of any
class of men under our flag. Then we got
| hard times. Everybody who had a mortgage as
an adornment to his property has suffered. Now
| they say the way to get back-the way to have
prosperous times again-is to again go in debt.
suppose | bought farm for S. 900 and gave my
note for it and then bought horses and wagons
| and gave my note; and then bought piano for
Mary and gave my note and sent James to school
and gave my note, and they all rGn year. What
| a magnificent time could have for that year !
Then when they came around and wanted me to
pay the note, | would say, 81 will give you little
| notes for the interest and let them run another
year." What splendid time | could have for
another year! Finally, when they come and say
they have got to have the money, what would you
think if | were to say to them, 81 never had a
better time in my life than when was giving those
notes. LII that is necessary for universal happ-
ness and peace is to let me keep right on giving
my notes." say to them the reason of hard times
is because they have lost confidence in me. They
say the reason they have lost confidence is that
have not got the money.
Now. il Is precisely the same with an ndivid-
nal that il is with the government. | say here to
day that every farmer ought to know that he cant
make something out of nothing. The United
States government cant make money. 1t can
make what it calls money. 1t has not the power
TO make it; it has the power to make you take it.
In other words it has the power to make every
buy bushel of wheat and you have got fiat"
money, the man can say, 81 will take 81 in gold
for that wheat, but | want S. if you pay in fiat
money" How are you going to prevent him
The money you have got is good simply because
it promises to pay. Now it is proposed to have
money that will promise not to pay. If non
sense can 20 beyond that cannot conceive the
route or path that it will take. Then if Congress
says you must take it, Congress must fix the price
of everything. 1t must fix the price of wheat; il
| fix tha nf M inn lou,
it must fix the price of every article, or else #
cannot make its money good.
But some gentlemen say that Congress has the
power to make money, and | want to ask them one
[ question; | want you to think about it If this
government has the power to make money, why
should il collect taxes from us' Why don't they
make it and let alone' If this governmen Mt can
make a dollar or thousand dollar bill just tina,
quick, slapping his hands together, why should
they make us labor day and night, and make u.
pay taxes TO support themi If the government
can make money, let them make it and let ui
alone. But, instead of that, this great govern
ment comes up here into this county with the bay
onet and compels you to pay taxes 1t is like the
ocean tfoting around to borrow little salt water
like the try ing to get the loan of a candle
from some poor devil that has worked weeks tc
} make that candle. So say to them, if they car
do it. let them do il.
Very well if the government can make money
how much it make How will | get my
share How much Is it going to issue? Some
say, Enough to produce prosperity" But how
} much they cant tell. Some say they are going tc
pay up the bonds and bring money iu that way
into circulation, and then business will be prosper
Gus. But say business will be prosperous wher
the country is prosperous. But if you get toe
much paper and it goes down, who loses it The
man who has earned it and happens to have it il
his possession-thst is the man who loses it, You
need not be afraid but what the smart people-tht
I people on Wall-street-will take care Of them
selves. They require their toll from every mar
J that goes by their way but the farmer-the labor
, ing man that has worked and has been given som,
ofthst money-he loses his labor unless that mon
ey is worth much it the day he rec eived it
But they say there is not money enough. | sa,
there is plenty; ] wish could get it. We don
lack money. The banks have got plenty o
money; a certain portion of the people bav
money. We are lacking collaterals-that is wha
| we are lacking. You can get all you want on cal
, in New York at l-2 and 2 per cent; and do yo,
know why you don't go and get it Because yo,
haynt got the collaterals; and if we are going t.
g lpass law on this subject would like to hav,
Congress rass a law furnishing us coaterals
But it will not do; there is no foundation to il
When that money gels out il has all got to be paid
- Csll It fiat mOney-call il what you please tn,
{ reason that gold dollar is worth dollar is be
cause you can buy the results of the same amount
oi labor that took to dig that gold dollar aud I,
mint It: including all the fellows that hunted ant
n DIDN'T mud It, If you take piece OF paper anc