Evening journal., 1891-06-23
PEFFER'S BOLD SPEECH.
Cheaper Money Wanted and
Must Have It.
HEAVY MORTGAGES IN THE WEST.

HEAVY MORTGAGES IN TIE WEST.
what He Knows of wan Street Men and
Notwithstanding Finy Years Ago and
Now-The Manner in which Railroads
DO the Business.
NEW YORK, June %. - About three
fourths of the seats in the large hall in
Cooper Union were filed last night with
appreciative listeners to United States
Senator PETER from Kansas, who spoke on
the third party movement The chairman
of the meeting told his hearers that one Of
the arguments against the third party was
that they had no leader. Ia America, be
said. no leader was needed, and at no
period in a nations history was a man
needed to fill a gap that one was not found
The old Parties Denounced.
He then called upon the secretary, Mr.
Stanton, to read a series Of resolutions
which denounced the old political parties
and charged that the government had
been run in the interest of trusts and
monopolies and that the issues Of free
trade and the tariff are fictitious ones and
are forced upon the people for the purpose
of diverting attention from the more inn
portant questions Of land. money and
transportation.
Senator PETER said that thirty-twogears
ago a man from the western prairies
warned the people Of the east against a
power that was seeking to control legisla-
tion. That man said then that all should
be slaves or all should be free.
Pcffer's Pungent Remarks.
Il am the lineal descendant" 81 id he,
''of that man, and tell you here In the
center Of the moneyed power Of the coun-
try which is greater than the slave power,
that Wall street moneyed interests have
the people by the throat. and you OF the
east and we OF the west must destroy that
power or Il will destroy us. When the
men Of Wall street dictate policy to the
secretary OF the treasury IL is adopted.
When they oppose it it is defeated When
ever the bankers OF Wall street need any
money they ask their partner In Washing
ton TO assist them, and he does t.
''But when the farmers ask their friends
in Washington for dollar they never get
farthing, nor do they get any assistance
through legislation, and all this we intend
to change. We do not propose TO take
away a mans property; on the contrary,
we will protect every mans property. We
are not anarchists. We will arm our le-
gions with the ballot and not with the bay-
onet No rumbling cannon or grim visaged
war will march with our armies
Fifty Years Ago aud Now.
FIFTY years ago the farmer made his
own implements, spun his own clothing
from fiber grown on his own farm. He did
not need money, because his wants were
supplied by barter, not by sale. In place
OF the shoemaker, who came once a season
TO make the shoes for the family, six
storied buildings turn out shoes nowadays
so cheap that the farmer sells his product
for cash and buys his shoes IN the stores
Nowadays it is only bonanza farming that
pays The capitalist who owns $1,000 or
10000 acres, and hires an army OF help
where one reaping machine mows sixty
five acres IN one day, that Is the only sort
OF farmers who make money.
No Money Ia Farming
Il came through Massachusetts, and a. !
drove over the Berkshire hills lcounted no
less than seven signs offering farms for
sale. The owners all said that there was
no money in farming. We want cheap
money. ] don't mean money that is worth
nothing We want good money, any
kind, but we want It at a lower rate OF in
terest than we are now paying II man
invests his money in farm he has to work
hard to get small interest. II another
man invests the same amount ia a mort
gage his money goes 70 work the instant
the deed Is signed.
- Pays His Respects to Bankers.
i'He can aIord TO sit in idleness and let
the other FELLOW work for him. The men
Of Wall street who write 'fwenty-eight
Years in the Street and tell how lhes gave
their money 10 Save the Union, didn't tell
thar they bought the bonds at fifty cents
on the dollar. at i2 per cent. interest, and
when the victory was won and peace
weigned they Immediately went TO work
and had these bonds made equal TO a gold
standard
Heavy Mortgages.
'sThose same men want the secretary OF
the treasury TO figure on the per cent.
bond now Suppose he lets the farmers
have little money at 2 per cent? Our
lands are as good as their bonds. II they
don't give MS cheaper money we will fight
srhese are not threats, but warnings. In
Iowa there Is Si99 0OO, 600 in mortgages al
<lo4 to the head. OF this one-third is on
city lots and two-thirds on farm property
In my own state, for the past ten years
S4O0. 100000 has been recorded ia mort
cages. OF that amount Sl60, 600 600 Is foi
farms. the total value OF the farm landi
being SiCs. .000.00
How Railroads Work II.
''rhe railroads, which are managed bl
ADLER fnanciers than farmers. mortgage
their property FOR -four and five times thei
value"
Senator PETER spoke Of the importanc
OF women in politics. aud pointed 70 hi
own victory over Senator ingalls, as tn
result Of their aid