The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-09-12

aaeFE
MAp,sos, WIS, September 10. The Pres
,aent received d hearty reception here 70. Gay.
m the course OF his speech at tne fa,r-
Grounds the President said 80 !.
Some OF our good friends think tnas our
currency Is not cheap enough. Ihey ,e.l us
they want currency cheaper than gold ana
silver and OF such quality that it VIII Ds
good at home, although il may not pc gooo
abroad. Truly that must ben very. aesifan .1,
quality In currency currency that w ~ W
always stay by you. The champions OF lnls
currency tell US what they ought 70 nave
a species OF paper which by act OF Congresss
should say one dollar upon it and De Woiln
one dollar IN this country. "Of course we
do not want It counterfeit they say; but
Tnm afraid it would not be great WINE
after it was issued before 1t would not De OF
sufficient value to be counterfeited. lap
plause and laughter.1 They would nave the
dollar printed on good paper-a cookbook
inr picture, showing good engraving. what
does such dollar cost? They say they want
rood currency. With us that means coin
dollar. We know what such a dollar costs.
That il represents a days work or bushel
~ wheat. Does paper dollar represent
any such unit of labor? no. The cost
of it's production is less than one cent for
each dollar bill. Herein we certainly have
n GREAT saying-a saving OF ninety-nlne
cents IN labor over the silver or gold dollar
that costs a bushel of wheat or days Ia
bor. as we have seen. Now. az it costs no
more to print the word $ two" than the word
I. one" let us improve the opportunity to
make the bill read 1.-TWO dollars" ana we
shall have 1913 cents. Laughter ana APP
plause.1 Now, my friends, If we were 10
undertake to make two dollars out OF gold
it would cost two days. labor, or TWO bush-
els OF wheat. The advantage, then, appears
| to he on the side OF the cheap currency !;
| and let us improve the opportunity ohered
ma md make our bill read ten dollars in
stead OF two or one, as the cost is only
one cent, instead OF ten days labor or ten
bushels of wheat-multiples OF tcn-with
no more cost than for the single dollar.
We are doing well, bat not wisely, fear,
for we might not choose well; and now we
| will nav off the national debt With it, and
then, Mr.. Senator and Mr.. Congressman,
we will! pay you off IN the same; and fear
they might turn upon me and say, +" Well,
MIR. President, we will pay you off 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 imitation, and il
Congress can pass law for such cur
rency, which will not be good beyond the
boundaries of the Union, why may not Wis
consin adopt currency which will not be
of value beyond State limits, or why may
not the city Of Madison adopt currency
| which would not be accepted elsewhere, OF
Mr.. Smith issue dollar in the words,
"One dollar, John Smith ~? 1t would GER
tainly stay at home, and that may be an ar.
gument in its favor. [Applause.] But, my
| friends, we cannot il we would, we should
not il we could, isolate ourselves from
the rest OF the commercial world in
all our measures for the improve
ment OF our own financial condition
We should remember that the nc.
cessities of trade with foreign nations re-
auire that our financial condition should be
based upon principles whose soundness and
wisdom are sanctioned by the universal eX'
perience and Judgment OF mankind. "Bal'
ances must be settled in cash" in tile mo.
ney OF the world. With diminished and
still decreasing burdens OF public debt, cx'
penditurcs, and interests; with an i'm
proved condition Of currency and foreign
uade. we may surely predict that we arc
about to welcome better times; but we
| must not forget that the surest foundation
OF a restored financial prosperity is u sound
constitutional currency and the natlona
credit untarnished. lLong-continued ap.
| plause.]