, 1896-08-19

what he wants., and We meet together,
and l sell what surplus l have and buy
the thing l want.-he does the same
llhim, and the barter is complete, and
money has helped to do it. And then
the second use OF money: Money is
not only a medium Of exchange, but it
a measurement a standard as Mr..
Crumrine stated,-but a measure Of
values, and the common denominator
in which the value of different commo
dities are termed. But my friends,
these two uses are comparatively in
significant when compared with a third
use. As Mr.. Crumrine has said the
world has got along without these
things, and the people still had ex-
change. If all the gold and silver in
existence were endowed with sentient
life, and should leave this country in
white and yellow flight, there would be
just as much property in the country,
just as many clothes to wear, just as
much coal to burn-and there would be
just as much business done too. l
in CAPT. Hance's court and after a hard
fought fight with Corthell on the other
side. after victory or defeat, could go
to Mr.. Lehman's and take my fee out
in a brilliant necktie and a stand-up
collar. If there was no such thing as
circulation in existence, | could go to
the headquarters of Mr.. Crumrine with
my commodity and he could do the
business for me with the usual rate off
Tor the purpose of facilitating the ex-
Ichange. (Laughter.) Your cow would
still give milk. and get into the pound;
Jhe red steer would still fatten on Wyo-
ming grass. and in the middle of Aug
ust the wild rasrberries would paint
the Centennial valley red. The fish,
the speckeld trout, would still rise to
the fisherman's fly, and there would be
just as many work days in a year.
(Laughter.) The water would still run
down hill in blessed unconsciousness.
CLaughter.)
Every man knows. and o N better
than Mr.. Crumrine, that not 3 per cent
OF all the business transactions of the
world are affected by m~oney,-its done
by checks, drafts, and bills of ex-
change. So I say as far as the two uses
Of money with which Mr.. Crumrine has
dealt are concerned. it is foreign to this
question. There is another use of
money, however, so all important that
all others sink into significance,-a use
which knocks at the door of very
man however poor or rich, and that is
that money is the standard Of deferred
seldom INDUCED in. l will say l propose
to engage in the cattle business. and
for the purpose of engaging in that
business / go to Mr.. Crumrine to Dor
row the money. He says here is a note,
and II you will sign that, you can have
the money. l sign the note. he pays
the obligation, and l promise to pay in
80 days. That promise is to make a
deferred payment. Now what does
Justice demand? My friends, it de-
mands that when 80 days rolls around
that l shall make payment in dollars OF
exactly the same purchasing power as
the dollars l borrowed from him. Gap
plause.) II those dollars in the mean
time have gone up in purchasing pow
or 7 have hoon hootoD. n fhav hoUo
gone down, Mr.. Crumrine has been
hurt, and that's what l call an honest
dollar,-a dollar that is alike at all
times. These sound money people
can't talk about that any more than l
can. What is an honest dollar? Neither
gold nor silver have any moral quality.
They are honest in the sense of an hon
est spade, or an honest ak. Apply this
test 10 the honest dollar, and to the
purchasing power of that dollar. and
l say that il the dollar in which pay
my debt is of the same purchasing pow
er as the money l borrow, 1t is an hon
est dollar though 1t be made from the
scrap iron in Judge Gramm's rolling
mill yard; and II 1t doesn't do that, it
|can't be honest though it sparkles with
the richest diadems. (Applause.)
In Mr.. Crumrine's rejoinder, he call
ed attention to some statements and
comparisons made by his opponent,
and read from the tables used by Mr..
Arnold for the correction Of the same.
He said that the determination with
(which the silver people chung to their
Theory reminded him OF an experience
with a dog Of his-not that he wanted
to compare his opponent with a dog
(Laughter); but n day he went out
and saw this dog scare up a squirrel in
the yard. The dog chased the squirrel
through a hole in the fence. and the
dexterous little creature went on up the
tree.-but the dog kept barking at the
Ihole. He would occasionally look up
as II to say II know that squirrel isn't
there, but this hole answer the pur-
pose just the same" and again he
would set up the most persistent bark
ing. So with the silver people; they
say there is certainly something wrong