Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1896-08-12
J. STERLING MORTON,
A Secretary of Agriculture With Broad
Views on Finance.


Views on Finance.
Nebraska City, Neb., Aug. IL
sterling Morton delivered a non.parti
zan address on finance tonight in the
presence of large audience. He drev
comparisons between the money of the
country when be came to Nebraska in
pioneer days and now. He said tina,
IL was something substantial, such az
Cattle horses and hogs, and not until
tne present was there an effort to create
value from something which had no
value as commodity. After explain.
ing the origin of money and dwelling
upon the subject of substituting coin
values Mr.. Morton said.
The sole origin, source and cause of
value is human desire. When there Ia
a demand for things they have value.
"hen The supply remains stationary
and the demand increases the value
lncreSeS; when the demand ceases alto.
gether' the value is altogether gone.
This shows clearly that the currency
OF people must be readily exchang.
able for those things which that peo.
pie desire and demand. The currency
itself must be desirable and must be
demanded by those who have things to
sell. The farmer who sells cattle, swine
aud cereals for money, finds that his
customer demands the highest possible
quality in each of these things. The
buyer OF the farmers products ia a
seller of money. The seller of those
same products is q buyer of money.
Inc purchaser demands the highest
known quality in the things that he
buys of the farmer and enlightened
SELF interest must compel the farmer to
demand the highest and most unfiuctu-
ating and general purchasing power in
the money which he buys.
Never before in the history of civil
zatlon have any number of people pro.
tested against being paid more than a
certain sum for commodities which
they have to sell. But today there are |
many farmers and laborers who de. |
clare themselves in favor of a system
OF coinage which shall pay them only
III ounces of silver in lieu of ounce
oil gold. Vehemently these people are
declaring everywhere that they will
be absolutely ruined if they be paid in
more than 10 ounces of silver instead
OF ounce of gold.
The Commercial ratio of these two
metals today is about 80 to I, that is 32
ounces of silver will buy / ounce of
gold bullion. The reason for declaring
In favor of mine value for silver
WHICH is twice it's bulliosAyalud is in
explioabla upon the'part Gf those who |
have no silver bullion to coin. The
advocates of this system of coming
silver at double its commercial value
lnd gold on an equality with its com.
nercial value declare themselves to be
and assert that they are In
avor OF two units of value. And while
wo units of value are to my mind un-
they in their statements
how that they themselves have only
ne unit of value, and that is the gold
nit. whoever says he is in favor of
he free and unlimited coinage of sil-
er at 10 to declares himself gold
But it is impossible to cover the q
hole ground in single desultory
Deech. Let us then 20 back to the
LEGGED crime of 1878. Was there a g
If so, who were the con- I
orators? They were the genius of
'ade' the enterprise of the American q
eope, and the intelligence of an ad.
anced civilization. The fatboat in ;
hIch crossed the Missouri river In
he autumn of 1854 was by conspir. 4
~ between capital. and human inqen. q
ty deferryized and the steamboat
ok its place. This change took place 4
ecause immigration and the develop +,
ent of the territory became too big a
r hatooats. Later on conspiracy
Jain transpired. wherein capital and a
have combined to deferry- Il
the steamboat, and the result is the =,
agnilicent steel bridge upon which n
r trains cross every day. n
This republic is not Judas 4 Isca ariot h
long civilized nations. 1t refuses to A,
tray honest dealing. 1t scorns even w
irty million times thirty pieces Of d,
yer, and is compelled by its judg. n,
snt and its conscience to reject the n,
portunities OF those who would de. Nc
'er the safety and perpetuity of the m
untry to socialism, zealotry, fanati. b,
i'm and dishonesty. 1t ignores and a,
orns all those who would applaud m
d jeer atthe cruciixion of the credit fr
our government which has been, 70
d God grant that IL may continue to IN
the savior of civil and religious AZ
erty, the friend and asylum OF the a,
or and oppressed of all nations"