The herald., 1896-08-23

three hundred per cent pront out tnat
does not count--it is a terrible thing
to allow the silver men to make that
profit. Then the next man who comes
.up will say that as matter of fact the
stamp of the government adds nothing
to. the value of the metal and that the
free coinage Of silver simply means that
you convert fifty cents worth of bullion
into a fifty-cent dollar and nobody
makes profit out of it. (Applause.)
Now you can see the absurdity of it. If
the silver miner, under the law of free
coinage finds that his silver bullion Is
raised SO that that which is now worth
fifty cents will be worth one hundred
cents, then there are no fffty-cent dol
lars, and if the other man is correct and
the law adds nothing to the value of the
money and you simply convert fifty
cents woth of silver into a fifty-cent
dollar then the mine owner has not
made a cent. Well, then, you hear an
other speaker say that there has been no
fall in the prices and he will denounce
the people who are complaining that
gold has risen in price and then his col
league will tell you that not only have
prices fallen, but that it is the greatest
blessing In the world to have prices fall.
Our opponents do not dare to say
that the gold standard is a good thing
because no party in the history of this
country has ever declared in favor of a
gold standard and they do not dare to
say that the gold standard is a bad
thing and tell 10000, 900 of liberty loving
people that they have got to suffer until
some foreign nation brings them relief
(Cries Of That is right.) What is the
principle that underlies it all? 1t is that
the law of supply and demand applies
to money as to everything else."
Increase the amount of money more
rapidly than the demand for money in
creases and you lower the value of
dollar. Decrease the amount of money
while the demand for it increases and
you increase the value of dollar. When
you understand that principle then you
understand why the great crusade in IA
vor of the gold crusade finds its home
among theNholders of fixed investments,
who by such legislation raise the value
of the property which they hold. Gap
plause.) When you understand the eff
feet Of the policy and then understand
that tlc QGSlIG LUZ Is
mostly among those who hold the fixed
investments and trade in money think
you will come to the same conclusion
that have, that the fact that the gold
standard Is good thing for them, is the
principal reason why they are infavor
of a gold standard. (Applause.) Now,
my friends. when you make up your
minds that the gold standard is a bad
thing then the only question that you
have to consider is how to get rid of it.
They can raise objections to the plan
which we propose, but If free coinage
makes a silver dollar equal to a gold
dollar, why then it will be just as hard
to get a silver dollar as it is to get gold
dollar. (Long applause.)
Do you know what they overlook?
They overlook the fact that when we
bring silver into competition with gold
we increase the supply of standard mon
ey, that while the silver dollar will be
worth as much as the gold dollar 1t will
be easier to obtain with the products of
toll, silver dollar or gold dollar, than
1t is today. (Applause.) If there is any
person who is afraid that under the pol
ICY pfOpOScu ny tilt SHlCdSO pldtlOIlIl
we are going to have a flood of money
and that you will be drowned in it, we
cannot appeal to you for support. But
If there is anybody here whose expert
ence is such that he is willing to risk the
disastrous consequences of that flood
upon him, we ask you to consider
whether we are not entitled to your vote.
II bimetallism Is to be restored the
United States must take the lead. Gap
plause.) I assert that the American
people have the right and the
ability to legislate for themselves on
every question, no matter what other
nations may think about it. The man
who says that bimetallism is desirable
and yet that the United States is i'm
potent to bring this advantage to your
people has made an admission that /
shall not make. We appeal to you to re-
member that the United States is the
only nation that stands ready to protect
its own people from every danger, for
eign and domestic. (Applause.) Other
nations may protect their people as they
should, but our nation is the only nation
that can protect the American people.
I want to suggest that you are interest
ed not so much in knowing the objec-
tions to our plan as to knowing what
plans the opposition have to relieve the
conditions. Why don't they propose
something? 1t is because they do not
know what ought to be done So they
are poor people to lead you out of bond
age. Gaughter.) Is it because they
know and will not tell? If so, they have
not the candor that ought to be pos
sessed by those who would redeem the
people from their suffering and distress.
(Applause.) They say our dollar will
be 53-cent dollar. Well, now, my
friends, they refuse to apply to the silver
that is produced in the world the law of
supply and demand. We say increase
the demand for silver by legislation and
that new demand, acting with the de-
mand now in existence, will operate
upon the price of silver. We say that
that new demand will be sufficient, will
and being sufficient, will raise the value
of silver bullion to $1.20 throughout the
world. (Applause) We have reason
for our belief. They simply say it won't
do it and then sit back and propose alb
solutely nothing.
If we need relief from the gold stand
ard we must secure it for ourselves and
If we must secure this desirable relief
Es1,. -e1,