The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1891-06-26
PETERS BOLD SPEECH.
Cheaper Money Wanted and
Must Have It.
HEAVY MORTGAGES IN THE WEST.

what He Knows of Wall street Men and
Notwithstanding Fifty 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 filled last night with
appreciative listeners to United States
Senator PETER from Kan 7as, 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. In America. he
said, no leader was needed, and at no
period in nations history was 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 i'm
transportation.
Senator PETER said that thirty-two years
ago man from the western prairies
warned the people of the east against
power that was seeking to control legisla-
tion. That man said then that all should
be slaves or all should be free
PETERS Pungent Remarks.
81 am the lineal descendant" S, id he,
Nnf tLa% Ill 4
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 it will destroy us. When the
men of Wall street dictate policy to the
secretary of the treasury it 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 it.
But when the farmers ask their friends
in Washington for dollar they never get
afarthing, nor do they get any assistance
through legislation, and all this we intend
to change We do not propose to take
away 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 and 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 3O, 900 or
4OUO acres, and hires an army of help
where one reaping machine mows sixty
i've acres in one day, that is the only sort
4 farmers who make money.
No Money in Farming.
II came through Massachusetts and as
drove over the Berkshire hills Icounted 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 lower rate of in
terest than we are now paying. If man
invests his money in a farm he has to work
hard to get a small interest If another
man invests the same amount in mort
gage his money goes to work the instant
the deed is signed
Pays His Respects to Bankers
He can afford to sit in idleness and let
the other fellow work for him. The men
OF Wall street who write Twenty-eight
Years in the Street and tell how they gave
their money to save the Union, didn't tell
that they bought the bonds at fifty cents
on the dollar, at 12 per cent. interest, and
when the victory was won and peace
reigned they Immediately went to work
and had these bonds made equal to gold
standard.
Heavy Mortgages.
Those 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 If they
don't give us cheaper money we will fight.
These are not threats, but warnings. In
Iowa there is sl99, 900 in mortgages at
$lO4 to the head. OF this one-third is ON
city lots and thirds on farm property.
In my own state, for the past ten years,
$4OOOOO,0OO has been recorded in mort |
cages VI that amount $50, 600 is for
farms, the total value of the farm lands |
being Sl6s, 100000
How Railroads Work 1t.
1.-The railroads. which are managed by
ADLER financiers than farmers, mortgage
their property for four and five times their
value"
Senator PETER spoke of the Importance
of women in politics, and pointed to his !
own victory over Senator Ingalls, as the
result of their aid