, 1896-08-19
extending owe a period Of about three

years.
Mr.. Crumrine stated further in mis-
connection thai the charge that the
legislators were bought up was not
made until the silver fell below par
in the markets of the world; then the
silver spectators. seeing they had lost
a good customer in Uncle Sam. told the
people they had been %defrauded, and
tha; they needed more money. We'll
said he, lit is a pretty easy thing to
convince a man that he should have
more money" applause.
Quoting from a speech uf Senator
Jones, made on April l, 1874. the
speaker said: Nov hear what Mr..
Jones, the great silver advocate. sa, S:
Docs this congress mean now to leave
entirely OUT of View and discard for
ever. a standard Of values? And what
but gold can be that standard? What
other thing on earth possesses the 30
quisite qualities? Gold is the arricllla,
ton of commerce. 1t is the most po-
tent agent of civilization. 1t is gold
that has lifted the nation from barbar.
OF values. 1t makes possible the CLASH
fication of labor and the interchange of
commodities" There is mlrch more,
but haven't time to quote it all. .snd
hear what Senator Stewart Of Nevada
said or the 18th of June, 1874: Cir.
the laDoring man and the produce is
entitled 20 nave his product and his
labor measured by che same STANDARD
of the world That measures our ma
tlonal debt. (%Applause.) Give him such
a standard. Give him money as you
require it from him You reQuir-. it
from the producer. You require from
the lalboring man gold to pay the inter
est On your national debt. which is
right, which cannot be avoided II o
mean to save this nations honor: but
then give him the same money 7vith
which to pay that debt" Cloud ap-
plause.) Mr.. Stewart is singing a diff
ferent tune now. Uaughter.)
VII Nv luSu plOIScuSu IL IL
lustIate, by means CT a schedule Of the
production of gold and silver since 1873
the relative production OF the two net
ais. and said in relation thereto: This
table shows that since 1873 the worlds
production of gold has Increased to
double The amount that 1t was In that
year, but you will please notice that
the production OF silver in The game
time has increased to three times what
it was in 1873. This explains just why
silver has gone down in the markets OF
the world. 1t Is a universal law that
when anything is abundant and the de-
mand small. the price will go down,
and when the article is scarce the arti-
Gle will go up provided the demand be
Crumrine said: l want TO nay this down
as a proposition that do not think can
be successfully contradicted. 1t Is bust
ness that makes circulation, and not
circulation that makes business. loud
Applause.) Now suppose there be mil
lions Upon millions in circulation, how
am | to get it? The free coinage Of Sill
yer Will not give 1t to me. no, not one
dollar of it. Circulation comes about
in this way: II l have something that
everybody else must have, then circu-
latiOn with me will be abundant. But
suppose that l have absolutely nothing
that anybody else wants, what then?
Why, circulation with me will he poor.
So you see, that if we have something
that somebody else wants, we are like
ly to have some OF the circulating med
ium; and the more things we have that
people want, the more Of it we will
have. On che other hand, if we have
nothing that anybody else wants.
though there be thousands of millions
of circulation, we will MOI get one dol
lar OF it (Applause.)
In conclusion I want to give you a
proposition from the pen of Mr.. George
d. B%oulton, which was published in the
Iron Age. / fully believe every one of
them. No silver country is prosper
GUS. No silver country has a stable
government. No silver country has its
government securities at par. No sill
yer country has good public schools.
And in no silver country is general Ia
Dor well paid. cloud applause.)
Mr.. Corthell Then thanked the audi
encse for the kind consideration shown
Mr.. Crumrine, and introduced Mr.. Ar
mold. The second speaker withdrew be-
hind the scenes and presently brought
forth a large easel upon which were
suspended several diagrams, a Ia MIR.
Coin. He then grasped a cane. upon
which was a head of Mr.. Bryan in sill
yer. and proceeded with his negative:
MIR .ARNOLD'S TALK.
Ladies' and Gentlemen: 1t gives me
pleasure to pay to our friend who has
just closed his argument. the well-de-
served tribute for the sincerely Of his
convictions. and the clearneso and
force with which he has presented
them. l think he is wrong. and I an
going to try to prove that he u wrong;
but we will all respect him for the
opinions he entertains, and the force
and clearness with which he has spok-
en- them. Mr.. Crumrine rs NO triaer
he never says Nj thing and mean an
other. Mr.. Crumr4ne is clear in his
convictions: he supports the st. Louis