The herald., 1896-10-29
has been uttered By Mr.. Bryan or any OF !

| TO themselves all the pOllticdi Vlrtue III
this land and deny the possession of any
| Of II to millions of their own country
| men? 1 read from speech delivered
| in New York by Mr.. Lauterbach, one
of the great financial lights OF Wall
| street, as reported by New York paper,
Referring to the presidential campaign
now pending he says: -.
/" 1T is a bloodless fight; no blood will
be shed, at least not yet; but IL they
| should attempt to subvert your supreme
court; If they should succeed by any
chance in foisting upon you the horrible
doctrines, anarchistic, socialistic and
| communstic, which the platform adopt
ed by the Populist convention contains.
| we may not abide by the decision
LET those who utter and applaud such
sentiments beware; they are treading
close upon the border line of treason.
We who follow Bryan intend to abide
by the result, and we further Intend
| that Mr.. Lauterbach and those for whom
he speaks shall also abide by the re-
suit"
4 publican club was present, and he re-
ceived a most cordial greeting. He spoke
eloquently. in substance as foliows'
MR.. CARVER'S SPEECH.
IT am one of the ALSO members OF the
| Silver Republican club of this city.
1 all of whom are orthodox Republic
ans. who have not changed their mlnos
nor turned political somersault WITHIN
| the last ninety days. Not having changed
our views on any political question. we
see no occasion Of changing our names.
| There is in this city so-called county
central committee claiming to be he-
publican, but it's members profess po-
| litical faith unknown to the Repup-
| Iican party of this state. They regard
| the use of the elective franchise as
| simply to enable men to engage IN poll
| al
| tics is to maintain party organizations;
| and the political party as a SORT OF
machine to relieve the individual voters
| of the necessity of thinking Tor hlmseH.
"The stuffed prophet of Republican
| ism, with all his pomp, has just passed
| through our city.
| Mr.. Reed says: If we can get lot
more of capital, / tell you we will have
more business In this he is undoubt-
| edly correct. The more we increase our
volume of capital the more will busi-
ness and industries of all kinds be stim-
ulated and expanded. But there are
| only two ways in which we can get more
capital-we must either produce it our
selves, or borrow it. Which is the bet
| ter?
Again he says: Capital is one thing
and money is another. Money is only
| capital when used for certain purposes;
| the sole use of money is to transfer
another Now capital is everywhere
| defined as wealth in whatever form that
| is assisting production of any kind.
| Money is, therefore, the chief and most
! efficient form of capital. The use OF
money named by Mr.. Reed is not uss
of it as capital at all; therefore, 1t is not
a true definition.
Again: Money is a transferrer of
property, just the same as hayracks are
| transferrers of hay. By having more
hayracks, can we increase the crop of
hay?' But if the simile is true, the de-
| struction OF all money would not i'm
| pair business or industry, for the de-
struction of all hayracks would not i'm
| pair the crop of hay.
He uses another simile: "A sufficient
| money supply may be compared to
sufficient supply of hats. Give them a
hat for every man, and whoever doubles
| the number of hats in the world acts
| like a fool, for the surplus is dead
waste If Mr.. Reed means anything, it
| is that a certain average amount of
money to each man will satisfy all nat
ulal and proper needs of money As
| sunling for the purpose of discussion
| that $1,000 per year income would be such
a sufficient or average amount, then we
would understand him to say that any
| excess above that for each individual
| would be dead waste, and If any man
| should countenance such surplus
quantity he would act like a fool. But
| how about the plutocrats and multi
| miilionaires who constitute the bone
| and sinew of Mckinley's campaign. who
enjoy their 100000 income per year?
| Do not Mr.. Reeds utterances smackYof
socialism and anarchy? But how does
/ Mr.. Reed reconcile such proposition as
| the above with the bimetallic plank of
| the St. Louis platform? Does he be-
lieve that the quantity of silver coined
under free coinage by international
| agreement will be any less than under
| free coinage without such agreement?
He says that Mr.. Bryan's campaign
arguments are all being predicated upon
| the phrase. we believe and that we
| believe will do very well in theology,
but will not do in business and then pro-
ceeds to say that under the free COIN
| age law we are sure to have gold dis
| appear. But how does he know it? Why,
| he believes it, That is the only proof
! he gives. When the Bland-Allison act
| was passed In 1878, he believed it then
| and persistently prophesied it. But the
history of the following years complete
| ly disproved him. Previous to that date
we had been exporting $40,000,00O more
| of gold each year than we imported, and
| following that year. until we ceased
coming largely of silver, we imported
$7,O0O.0OO per year more gold than we
| exported Since we ceased coming
| largely of silver we have been exporting
$35, 0,000 more gold than we imported
He says that during August, after
| Bryan's nomination, the Pennsylvania
! Railroad company lost 81 .250, 900, but he
! omits to state how many millions of it's
| net income for the month of August it
had left, or how many millions the pro-
ducers of the United States have been
| losing per month by the extortion of
such railroad companies for the last
! twenty years.
| He says the United States during the
civil war could not keep it's greenbacks
at par with gold; therefore, it could not
keep its silver at par; but he omitted to
say that the first $4,000, 900 of these
! greenbacks, which did not have a limita-
tion upon their legal tender character,
never fell below par of gold, while ali
the balance of these greenbacks. that
were limited as to their legal tender
character. did depreciate.
he states further: Don't you think,
my $40 friend, that the man with $1O0
has got more sense than you have got =?
Don't you think man with $1,000 has
got still more?' If it be true that men
are endowed with sense in proportion
| 10 their wealth, then shall soon expect
to hear Mr.. Reed advocating the giving
of every man at all general elections q
vote for each $1,000 of his wealth. If. as
the census shows, l per cent of our people
has as much wealth as the other 90 per
cent, and If, as Mr. Reed says, they also
nave as much sense as the other 80 per
cent, then manifestiy they should. in
Justice. have as many votes at all gen
eral elections as the other SO per cent.