Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1892-08-14

then in circulation, and / have the re-
port Of Mr. Mccullough to prove that.
Nor does it include S5S,ooo,ooo OF
the State bank notes still in ~circuia.
ton, nor does it include Sloo, 900, 900
or moro in specie which WINS used to
pay the interest ON the public debt,
aud you add these three items to the
other and It gives you over $1,000
100000 ut the time Of the close Of the
war ard every dollar Of it was in the
hands OF the people. (Applause.)
IN LIEU or BONDS.
That would make $50 @ capita
25.ooo,ooo Of people. (~Applause.) But,
says the critic, that included $780,
100000 Of 80 bonds. 1t included
7:3o Treasury notes und the law OK
press!y says in black md white that
they vert issued in lieu Of bonds.
(Applause) Not only that, but 1
have Secretary McCullough's report
here in which he says that large quinn
titles Of them were in circulation rs
money, all Of which went 10 swell tho
circulating medium II the country.
That is the report Of the ,jecretary to
Congress, tho first onu after tho war
closed. They drew : ) 10 interest and
the bankers got hold of them as O
as they could aud used them in their
large transactions and for bank re-
serves. But let US suppose for u
moment that you should exclude tho
seven thirties.
That would still leave 81, Zoe, 900, 900
OF currency circulating among 2J,ouo,-
900 of people, which is SIS per capita.
No wonder that times were good in
tho North, that prices we're high and
labor employed. What was tho real
condition l quote herc from Secretary
Mccullough On pngc ISL: ''The peo-
pie arc now comparatively FREQ from
debt. There is an immense volume of
money III circulation" says Mr.. Nc
Cullough December /, 1863. We'll
MT. Mccullough, were they going in
to debt or paying cash us they
went? On page lSG: at is undoubt-
edly true that trade is now currieI on
now much larger for cash than was
ever The case previous to 1861, and
there is II much larger proper dsnand
for money than there would DO if
trado wns carried Oh for credit, us was
douo prior to the commencement OF
the war;"
NO WONDER PRICEs WERE HIGH.
Out VI the !nuuths VI two or three
witnesses shall the truth be estab-
llshcd. KNOX is ohe witness, McCul-
Tough the second and ] um the third.
y, do like 10 STAY them with thor
" jaw bono (Applause and laugh
teri No wonder prices were high. |
wan to give you my personal exper-
ionce before l proceed 10 the next
point. L have learned, and l wonder
il somebody in Nevada has moi hud
the same experience, that ns my
family increased in numbers my ex-
penses Increased.
We have u parallel in this country
since the war closed. There were
added TO Uncle Sans money using
population in II singled day 1o,ooo,ooo
OF human beings-1o, ooo, 900 OF Uncle
Sans prodignl children came home
in IL day without II penny in their
pockets and said TO their father: Lot
bygones be bygones; take care Of us
and give ua another start. Do you
suppose when those lo,ooo,ooo came
into the family in n single day that
was IL proper occasion for n contrac-
ton OF tho ~currency2 Why, whom I
added seven to my family, If | bad
contracted my currency I do not
know what would have beon done.
THE PEOPLE AND THE CIRCULATION.
Come back with mo now to this
present year, 1892. How many PEG.
pie have WI using tho money in circu-
tionr You have Gi,ooo,noo Mt a con-
servntivo estimate. Taking tho
3,ooo,ooo we had at the close Of the
war from tho present population We
have :D,oou,Ooo; l5o per cent. more
people using the money than at the
time when tho wal closed. I wish /
had the power Of the prophet on one
occasion. He pray ell that tho Lord
might open the Dyes Of his servant
that no might see that the air was
filled with churiots and horsemen for
his defense. sometimes feel ! wish
| ha'l the power in the presence uf mn
audience like this to open tho eyes Of
thenudIenco tn the sublime und newt
able fnct that within twenty years ia
this country NO will have loo,ooo,ooo
OF people living under ~ flag and
that tho mir 10 literally filed with
ahadowy feet, bone o. our bone, flesh
OF our flesh, our children and our
children's children, who will live OH
this continent aud remaiu hero for.
ever, they and their pottority.
What preparation arc We making
for the coming Of our own young?
(Applause.) II 10 mn instinct OF the
lowest order OF tho animal creation 10
make such preparation. Yet hure We
arc, two great PARTIES in tho Nation,
standing dumb in tho faco OF such n
mighty problem ~ This, allowing tho
Nation to degenerate into n atatc OF
business cannibalism whore every
man IL trying to ovcrrruch his neigh.