The sun., 1896-07-05
RALLY OF THE GOLD MEN.
4 BIG MASS MEETING LIsT WIGHT
IN TIE AUDITORIUM.


Gov. Russsn OF Msssashusstts Makes n
Vigorous Protest Against the Lins OF
P Action the Silver Men Are Bsnt On.
CHICAGO. July A public meeting of the
friends of the "sound-money" cause was hold
this evening in the Auditorium, a theatre con-
nected with the hotel Of that name ana capable
of seating somo 6,e00 or 1000 spectators.
There was not vacant seat to be had when
the serious business OF the evening began. the
hour between z and having been filled up by
select pieces of music given by the band Of the
First Regiment.
On the platform were seated Senator Gray
of Delaware. John r. Fellows OF New York,
Franklin Macveagh Of Chicago many other
prominent supporters OF the sound-money
cause, and a large number of ladies, while Mr..
w. c. whitney of New York occupied seat in
one OF the boxes.
The meeting was called to order By ex-9ov.
Flower OF New York, who said;
GOV. Flowers SPEECH.
I'VE are just emerging from tho panic Of
1903. In that year the banker. the capitalist
the manufacturer, the merchants were all
cut In tho middle financially. 1t gradual
ly paralyzed the county, until in the year
1895 It began to knock down the last brick in
the row, and that the agricultural commu-
nifty. All through '03 and '94 the farmer was
raised from the soil. and II would seem
though he had escaped the raVages of the panic
but like all panics. 1t did not end
Till It reached him. The farmer has had a sad
lot for the past twenty years, but no sadder
than other industries, as l will show.
He is suffering from an over-stimula-
tion by the governments Of the world
OF his particular line Of industry. In
1861 the Congress of the United States gave
In anta 70 h.. mi Rail
was found necessary to connect California with
the rest of the Union in order to save California
10 the rest of the Union.
Then followed the building of tho Southern
Pacific and Northern Pacific, tho Rock Island
and the various other branches of commerce that
reach out from this great city Of Chicago. Tho
railroad companies received alternate sections of
land from the Government free of charge. The
building of those railroads induced settlers
all along their lines TO purchase what the rail-
road did not and open up the terri
tory. Then the railroad companies adver-
tised their land in Europe homes for
the poor, and sold them and brought
into this country another large body Of
people to compete with the farmers OF the East.
The farming lands Of the East were worth on
an average $50 per acre. The interest on ono
acre of land twenty years ago would be
$3.50. A farm in Iowa, Illinois, or Mime
suta Nebraska worth S5 an acre-the
interest on that land per annum would be 35
cents. Now the farmer of the West could raise
double what he could on the Eastern land and
send all the products OF one acre to Liverpool
for the difference in the cost of interest on his
lands per annum. What wonder that land values
In the Eastern States went down until the
Western lands commenced to rise in value.
These cheap rates OF transportation by rail and
water from the East had levelled the land in
the Eastern States and raised the value in the
West. so that II there had been no other causes
at work the farmer in both tho East and the
West would be sure to do business q rising
value of his farm.
Rut the British Government loaned the
money to Canadians to build the Canadian
Pacific opening the vast praires like our own,
and their wheat when harvested was sent di-
rectly to Liverpool. Then English capital also
bought 1000 miles of railroad IN India, opening
ur vast wheat fields and cotton fields in COM
petition with our own.
You all remember tho Barring failure OF
1890. The money that firm expended went to
develop the Argentine Republic opening those
vast and prolific fields with railroad sys-
TENS and waterways, so tina. she produces
fcrty or fifty million bushels Of wheat annu-
ally. Not only that. but Russia opened up 5000
miles OF her frontier with railroads, as beau
tful and productive prairies as our own
wheat fields Do you wonder that the
e ments of the world stimulating the
Z far.s;ng industry and opening up their
unused lands to the farmer? Do you wonder
that the farmer has hard lot? DO you wonder
at the low price OF wheat and corn when you in
this United States have more than doubled the
acreage and tho crop between 1871 and
1891? Do you wonder that cotton was
low in 1895. when in 1894 the cotton
planter raised so per cent. more cotton than he
ever had raised before? Is this not the rational
reason why the farmers products are low? Is
not this the proper and only safe reason why the
supply is always greater than the demand of
the world!
There Is no manufactured article but what
has met the same fate as the farmers product.
1. have been reduced from one-half
to two othirds-the steel rail from Sl20
to S23 per ton; iron ore. of which
you have such vast fields in Minnesota. greater
than any country in the world. is produced to-
day at one-half the cost of seven years ago. You
know all about this iron business here. because
in this city of Chicago you manufacture 5000
tons per day. and the full output Of your iron
industry here is equal to the whole Of the out
put of Great Britain. Lead Is produced and
sold at one-haif the price 1t WAS seven
years ago. Copper. through the inventive
genius OF Americans. meets the Same
fate. Silver. through new appliances, Is
mined ut one-half the cost 1t was twenty years
ago. And gold is produced in greater quanti-
ties this year than gold and silver were together
in 1873. The silver and gold production
of that year was hundred and sew
enty-eight millions. and in 1895 OF gold
one one hundred and nnety-nine and
one-half millions. You. my farmer friend, you
are not alone in the deprecated prices OF your
products, and challenge any silver man to give
reason clear and cogent why corn and wheat
ad 5''cr crops OF the farmer have fallen be-
caIsc silver has fallen.
But, ladies' and gentlemen, leave these
questions o. the hour in other hands. II is now
my pleasant duty to present to you gentleman
high in standing in this city as merchant and
a tinancier. the Hon. Franklin McYeagh.
MIR. MACvEAGH's SPEECH.
Mr.. MacVeagh said that this great assem-