The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-04

men would be thrown ont of employ
ment than ever before; and in the midst
Of that depression you viii have to pay
Your obligations, and you Will not find
anybody that has amy kind of money
to buy your products. Even If you
drop to the level of Mexico instantly
without a panic, 1 want you to under
stand clearly what you would get. The
Mexican is not deceived; he under
stands it. Mr.. Simpson says ne takes
his steer to Kansas City, gets twenty
dollars in gold, goes back and ex-
changes it for forty dollars in silver.
He does not do it; because he knows
that twenty dollars in gold or twenty
dollars in our silver money is just as
good as forty dollars IN his money.
(Qheers) You cam go into Mexico with
our silver dollars and a steer they ask
you twenty dollars for their money, you
can buy with ten dollars of ours. The
Mexican understands it. He does not
think the steer is any more valuable
when he gets twenty dollars Of their
money for it than when he gets ten dol
lars of ours.
II saw a Mexican last week, and I
said: You are not for free s;lver?' No;
had 1T You have not had it but If you
ever get it, you Will be like the Next
can, you Will not want any more of it
Our products will be measured with
a different measure. You are now six
feet high; the foot measure is twelve
inches long. Suppose that measure is
charged and the foot is six inches long.
You would be twelve feet high, but you
would not he any taller in fact. You
could get m that door Just as easily
then as now. So with money: there
would be no more value in your pro-
ducts, even If you would get twice as
much for them, for you Will get poorer
money than you get now. You are en-
TITLED to good money for your products
when you part with them.
Mr.. Simpson says Mexican silver
dollars are commodities, and that is the
reason why you can buy two of them
tor one OF ours Here is an American
eagle (Holcing up a coin) / paid
twenty American silver dollars for it.
Here rs a Mexican twenty dollar gold
pFece. i gave twenty American Silver
dollars for that. II is just as good as
the other. 1t win buy ais much in COM
moditbes in this country as our twenty
dollar piece. Still in Mexico if 1 want to
get their twenty dollar gold piece 1
would have to give for it forty Mexican
silver dollars. (Cheers) The Mexican
understands it; and 1 want you to I'M
derStand it. You can change the stand
ard of values, but you do not increase
the value of your property.
What you want is more business.
You want more men to eat your wheat,
and corn, and then you will get better
prices than You get now. (Applause)
''Mr. Simpson says in regard to a good
dollar, that If the present gold dollar is
good, if you increase 1T you could get
enough in it finally to buy the state of
Kansas That same sort of reason
would atpply to the silver dollar, but
you would have to put a great deal
more silver in it, that is alt He called
attention to the fact that the gold dol
lar and the silver dollar are chained to-
gether. They are chained together UNI
der our policy, and one is good as an
other, and has been since 1879; an6I am
in favor of continuing that policy. But
they are not chained together in Mex
leo, with the free and unlimited coinage
Of gold and silver. We have the free
and unlimited coinage of gold and the
coinage of silver, and we
hold them ON a parity. And the first
time this has ever been done has been
since 1879.
Now. I object in This closing debate as
I objected at Harper, to Mr.. Simpsons
irving to get UP a controversy between
me and Ricardo. I told him then there
was not any, and ne has insisted again
hat there is Here is RicardO'S state
nent: "a currency is in its most perfect
state WREN 1T consists wholly of paper
money; but of paper money Of an equal
1,,io rryl1i n Ty-QfpSSaS
10 represent 1 believe in paper money,
1t rs more convenient, If it is as
good as the gold that it pretends to rep
,esert. 1 like that kind of money.
Ricardo said it was good, and Ricardo
md L believe as he does, and it IS not
light for him to try to get up 'this diff
erence between US.
Now, my friends, I did not state at
or anywhere else that we
ust needed per cent of money to do |
he business of the country with, and |
10 more.\ 1 stated the fact there, as I |
tate it here, that under our present |
monetary system we do transact about |
5 per cent of our business with bank |
.hecks and drafts and representatives |
That is what Said, and 1 say It again. !
nut say we do it And under that con-
lition John Stuart Mil says: The old |
imposition that the quantity Of money
n circulation determines the prices of
II products does not apply: that {
My applies when we have gold and
FLYER only and no credit system That
5 what / said, and say il again
HE defies me TO show where We have
ncreased the circulation per capita
Mr. Simpson, said, where You
rould under your platform.
1.-THE question was whether we had
increased the circulation in recent years
= not, or whether We had struck down
ne-half the money of the country. I
nd here by reference to the Starts teal
Lbstract, that the amount Of money in
regulation in 1873 per capita, was $500;
nd in 1895 1t was so 96. This is the gov
report (Cheers) And the
honey we have now is as good as gold,
-hether 1T IS silver or paper; and the
loney we had in 1873 was deprecated
aper money. 1t was not brought UP TO
old until 1879.
This Stanley Matthews resolution
ais given us a good deal of trouble
Iere is the stenographic report Of the
peech Of Mr.. Simpson made at Hutch
lsoT, He says. speaking Of this resolu-
on: Tt passed both houses. beth the
enate and the house. by two-thirds
lajority, and became law, and is a
w today"
Mr.. Simpson-What is that?
Mr.. Long-That Is the stenogapilsc
port OF your speech at Hutchinson. ,
Mr.. SirpSon-I protest against Mr..
ong's Stenographer being taken as Of
cial authority. His stenogra pher and
'pewriter can write out anything. II ,
ley would submit II to me- (Yells.)
Mr.. Long-Keep quiet, please. He de-
ed the congressional record until !
-oduced II before him. ,
Ar Sir,rr,sNnr1-N,n I iiSn'f SanU e