The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1892-05-20
GEN. WEAvER'S SPEECH.

4
| pie of this city last Monday afternoon at
the opera house, in the interests of the peo-
pies party. The general is a pleasant
| speaker, but is more inclined to depend
upon his ability to draw upon the senti-
ments and emotions of his audience than
upon sound argument, even as an able law
yer pleads before jury for mercy for his
client. His speech was more remarkable
for the points he left out than for the points
he made. After devotine considerable time
to remarks about his early life and his trav-
els in the South, he discussed free coinage
of silver to some length, stamping Governor
Pennoyer as an out and out peoples party
man, qnoting numerous extracts from the
governors Albina speech to sustain his ar
gument. Then he tried to show how, un-
der the management of the old parties,
trusts and combines had formed and pros
pered. and how the poor farmer has been
made to bear the BURDENS, ETC., but he en-
tirely forgot to say anything about the great
farmers warehouse trust and wheat COM
bine IN Kansas last year; inst a little lapse
of memory, of course.
The general also took the quite sure
ground of telling the people that they ought
to have more money than they have, but all
who investigate and think for themselves
will be likely to differ with him regarding
the method ot securing it.
One of the statements made would lead
30
that it cannot be permitted to pass unchal-
lenged. He stated that after the close of
the late war there were in round numbers
81, 900, 600, 900 i'll circulation among 25,000,-
600 peoples, while at present there are only
81, 900. GOO, 900 circulating among 6O,O0O,-
600. The contrast is certainly remarka.
Bile one, and if there was any truth in the
statement there would be good reason for
considering the matter of securing individual
relief by increasing the government is
sue of money.
On several points the general quoted gov
ernment reports, but he failed to give any
authority for the assertion that there were
two billion dollars in circulation in 1865 and
his assertion when opposed to government
reports on the subject will hardly stand.
According to the report of the secretary of
the treasury, instead Of two billion dollars
there were $685.. 7l9,2 in circulation in
1865. OF this amount 1923, Isl, ,6O4 were
legal tender notes, $402, a65 old demand
notes, $26, ,334, ,743 in fractional currency
and $l76, ,2l3, ,966 notes of national banks,
including gold notes. Taking then Gen.
Weaver's method of calculation, we find
that the circulation per capita was 1884
The total circulation April l, 1892, was
81, ,6O9, GAL $50, or S24. 6S per capita. Conse-
quently the amount of money circulatingin
the country IN 1865 gave each person rs cents
more than at present. The south is not in
cluded in this calculation at all; if we in
clude the south the circulation per capita
would then be brought far below that of
to-day.
Even supposing that there were two bill
ion dollars in circulation at the close of the
war, it will be remembered by all who are
old enough to know anything about it, that
nearly all the money in circulation at that
time was in the form of legal tender notes,
which could be negotiated only at dis
count of from 25 to so per cent. This was
one of the points on which the general was
silent.
He made use of numerous illustrations
relative to number of the millionaires of
the country. forgetting, perhaps, that all of
them procured their wealth through their
own efforts. He failed also to give any
remedy for the existing state of affairs. He
. surely would not attempt to deprive them
of this property to which they have every
right, but what would he do? He wound
up his speech by soliciting subscriptions to
his paper.