The herald., 1896-10-04

I want to tell you that these men who
have been conspiring against the credit
of the government, all the time pretend
ing that they were the supporters Of its
credit. derived their power from laws of
the federal congress. / am opposed to
anything existing that turns around and
tries to be greater than its creator. 1t
Is possible for the government that gave
them this power can take it away again;
take 1t away by cancelling the charters
of the banks that are involved in the
matter, and forcing them to go out of
business. believe that what we want
is to have a secretary of the treasury
who shall dictate to the banks, instead
of allowing them to dictate to hm.
Now, after that Rothschild contract
there was another bond sale of 500 900,
and want to call your attention to one
Of the incidents connected with it. One
man who has profited largely out of the
governments extremity Is ]. Pierpont
Morgan. (Groans.) Now, my friends,
1 don't want you to make any demon
stration of that kind, because 1 don't
think he has done different from what
most men would have done in the same
position. I think that most people are
apt to take a well-feathered goose when
they get the chance.
"But am opposed to the people of the
United States offering themselves as
well-feathered goose to be plucked.
When they thought that there would be
another bond sale Mr.. Morgan organized
a syndicate to take the bonds and Of
fered to take them at about $105. Then
the bonds were offered on public sale.
Now, how can you tell whether Mr..
Morgan was going to deal fairly with
the government? Why, If he offered at
the public sale the same bid that he Of
fered before you would say that he had
in the first place offered what he thought
the bonds were worth. But he waited
until the bids were just about to be open .
ed and then he bid at $110 and a frac-
tion-$5, ,ooO,o 900 more than he had pre-
viously offered, and more than 1000, 900
more than the time when he got the gov
ernment in a corner and offered to save
the country.
THE PEOPLE OR THE SYNDICATES
This government has either got to be
run in the interest of the people or else
has got to be robbed in the interests OF
few syndicates. Anybody who enjoys
being robbed ought to be desperately
in love with the Republican party, be-
cause 1t means to continue the same sort
of thing we have had for more than
four years. I feel it my duty to defend
the administration to this extent-that
1t Is simply carrying out the policy of
the preceding Republican administra-
tion, and applying that policy to little
more aggravated condition.
NO DEMONETIZATION BY PRIVATE
CONTRACT
1--WE are not going to change the size
of the silver or the gold dollar But we
propose that any man who owes a debt
shall be able to pay it in either gold or
silver. We are not going to say that
contracts already made under the pres
ent law which permits contracting
against silver, shall be changed, but we
are going to say that hereafter no man
shall be permitted by contract to de-
monetize what the government makes
legal tender. We are going to say that
hereafter no man can call his debtor
into his office and tell him that If he does
not strike out coin and write gold he will
foreclose the mortgage and take his
property. If he tells us he will not loan
money in this country under such laws
we win tell him to loan his money some
where else. And If he does not like the
laws the people make for their protec-
ton, we will tell him togo to some other
country where the laws suit him. The
time has come when the people shall re.
fuse to be held up and sandbagged by a
few men who assume that money is more
precious than commodities.
EXISTING USURY LAWS.
1--WE have usury laws saying a mar
cannot collect more than a certain rate
of interest. The theory underlying the
usury laws is found in the Book of Prov
| erbs-that the borrower is servant to the
| lender. In these transactions men do not
| always stand upon an equal footing, an6
| therefore the government steps in tc