Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1896-10-07

longings of his family, or the family
of his father, some of that old bank
paper as a reminder of what they lost.
"a voice, 81 have $40 at home myself. ~
can not imagine any interest that
can be permanently subserved by hav-
ing poor money. The bare suggestion
of such a proposition to man of
reason meets its instant rejection.
Recent Experience.
You will remember that from 1862
to 1879 we did business with paper
money exclusively; we had neither
gold nor silver. And you will remem-
ber that gold was constantly at pre-
MUM, ranging from 40 to 100 per cent.
Then, when man wanted 10 borrow
money, he had to pay higher rate of
interest than he has had to pay since
1879, on a gold basis. (Applause.)
When we were doing business with a
deprecated paper money interest was
very much higher to the borrower and
to the debtor than it is now. can re-
call when here, in Ohio, the ruling
rate of interest for that paper money
was 10 per cent. annually, and often
per cent. month, or 10 per cent a
year. Do you remember that, men of
Indiana, when in the days of the
greenback currency you paid from 10
to 12 per cent. for your money.
The ruling rate here in Ohio for
what some people are pleased to call a
two hundred cent dollar" is 6 or
per cent, today. 1t may run as high
as 8, and possibly that has been the
ruling rate during the last two or three
years, but that is because distrust has
fallen upon the country, and men who
have money will not part with it and
take chances without higher rate of
interest. (Applause,l Money can be
borrowed at lower rate of interest
than it could have been borrowed al
any time from the days of 1860 to the
days of resumption. What more health
full sign than this fact that a dollar
sound the world over, can lie borrowed
at less rate than ever before?
Why Money is Scarce.
That money is hard to get is not be
cause it is scarce, but because thos
who have it keep it, fearing to loan i
because of the unsettled business con
dition of the country. Money today i
idle because it can not be profitabl
and safely invested by those who hav
it. 1t is neither lack of volume o
our money nor the quality of th
; money that is our trouble, but a lac
of confidence in the steadiness an
stability of business. The threat o
free silver is driving our money int
hiding today; the way to bring it ou
is to restore confidence; and how vii
you restore confidence? There is onl
one way. IA voice, "Vote for McKir
: ley!") The way to restore confidenc
is to defeat, through the ballot, th
! party that destroyed confidence. (Crie
of "Good!n and That's right" Th
way to restore prosperity is to defea
through the ballot, those who hav
destroyed prosperity. Tremendous al
plause.
We can not restore the business {
the country SO long as we do so muc
of our business abroad. Cries {
That's rightly Let us bring it bac
} home again for our own people an
our own labor. Continuous cheering
) We do not believe that the way to r.
!, store confidence is through the min
q of the United States. (Cries of IN,
: no; you are rightly We can only r
i store confidence aud prosperity, nj
Q through debased currency, but thr'
J policy that will restore the waste
revenues to the public treasury On
e rekindle the fires in American worl
= shops. Great cheering.)