The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1896-10-14


but not for business which deals with
this. Naughter). What is the ground
they have for thinking that silver will
appreciate? They say there will be a
demand for it. Now 1 want to say to
you that we have had an experience on
that subject. From 1861 to 1878 we
we didn't consume any silver at all, and
silver was only at very small discount.
Since that time we have bought over six
hundred millions of dollars of silver, and
silver has gone down to fifty cents on
the dollar. If we buy the rest of it, where
it will 60 to? Naughter.) Until you
have answered that question my Populis-
tic friends, don't you undertake any talk
on this subject. When you have answer
ed that, j will see you again. mean |
will see you further. Gaughter.)
Effect of the Fifty Cent Dollar.
Now, then, we are going to have a
fifty cent dollar, there is no doubt of it,.
If you want experience-don talk to me
about Mexico, talk to me about the
United States. That has been my ex-
perienee. Let us depend upon facts.
Let gentlemen who say, 1--WE believe
shut themselves up and stay there, and
keep on believing" but don't bother us
with it. Fifty cents on the dollar-1hat
is going to be the effect. said this was
pretty complex world, and if that should
ever happen to you, you would know,
every one of you, that something had
happened. There is not business so
small in this country that it would not be
absolutely disarranged by such trans
action, absolutely and completely.
Take life insurance effect would
fifty cent dollar have upon them? Any
body who knows anything about life
insurance knows that only about eleven
per cent. of the assets of the companies
is in real estate, and all the remaining
assets are in the form of bonds and obi
cations. If these are paid to the COM
panies in fifty cent dollars, the compan-
les will have to pay the same kind of
dollars to the policy holders. But"
you say, "a corporation has no soul. >
Yes, but the policy holders have.
daughter and applause.)
Life Insurance Cut One Half.
Just think how crude all this talk is.
They seem to think that only those who
"areI the people" borrow money, that
the policy holders, and stock holders and
benefciaries are not "the people" How
many are affected by life insurance, do
you suppose? Why, all those that are
interested in the companies. More than
eighteen and half millions of human
beings are affected by it. Eighteen and
half millions of people will have to
submit to the idea those for whom they
have toiled during life, that they might
be happy after they themselves were
dead, will receive only half the provision
intended for them. The desire to pro-
vide for those we love, and who survive
us, is one of the noblest desires that ever
filed the human heart. applause
If you want to talk about corporations
having no souls, let us see what will
happen to life insurance. When your
81, 900 house is multiplied by two and in
creased to $4,000 by fifty cent dollars,
and your policy reads $4,000, you have
got two other stories sticking out that
have to be insured Naughter), the other
two thousand you can get for half price,
but that half price is added to the whole
price that you have already paid.
And when you come to the question of
savings banks, | need not argue that. The
newspapers have argued that. want to
say that people who are foolish with
other peoples property, might have some
excuse, but the man who is foolish with
his own property has no excuse and de-
serves to loose it, and dare not use the
language that would properly describe
those people.
Why People Borrow Money.
The popular idea is that all the fellows
who lend money are rich, else why do
they lend, and that all the people that
borrow are poor, else why do they bor-
row. That is not so. Savings banks are
not made up of rich people. Life insur-
ance companies beneficiaries are not rich
people. The fact is that modern society
has changed and men borrow not be-
cause they are poor but because they are
enterprising. When man borrows
money to exc out his own fortune and
build railroad that money is so blended
with the money of the rich people that
you can't touch one without touching the
other. There is no way in modern
society of being dishonest and helping the
poor.
Farmers the Same the Rest.
But" they say, ''the farmer" if he
could only pay his debts for half price.
THANH (3nd some of our New England