The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-11

from abroad daughter and applause.)
And If we haven't enough now and not
money from abroad, / submit that it
is better to have money come out of
our own INNINGS and be our own
money than to borrow money abroad
and have to pay double for it. Great
applause, and a voice, That's the fell
low for the nation.' that's the stuffrO
My friends, the creation of money
comes before its distribution. If your
laws prevent the creation of sufficient
amount of money, then you don't have
a sufficient amount of money. And
yet our Republican friends in the face
OF decreasing currency tell us that
1t is not more money we need. They
go on the theory that the less money
there is in the country the more each
man will have of it. daughter and
applause.) That is the new kind of
arithmetic. We say that until you put
this money into existence there is no
money to exchange for products and
that the only way you can preserve
parity between money and property.
the only way that you can maintain
stability in price, uniform average
prices. is to have money sufficient in
quantity to keep pace with the de-
mand for money. (Applause.)
If that proposition Is wrong, then,
my friends, all propositions on the
money question are wrong. But that
proposition is right, and we can prove
that proposition; not by Democratic
testimony; we can prove it by Repub-
llcan testimony. (Applause.) l call
your attention to what Mr. Blaine said
iE 1878; when he said that the destruc-
ton of silver as money and the es-
Enlistment of gold as the sole unit of
value would be ruinous to all forms
or property except those investments
which yield a fixed return in money:
that these would be enormously in
creased in value and would gain a
disproportionate and unfair advantage
over the other species Of property Mr.
Blaine recognized it. He recognized
that by destroying part of your money
you made the remainder more valu-
able, and that in so doing you help the
man who holds investments which
yield a fixed return in money and
hurt the man who had other forms of
property
Quotes MIR. Mckinley.
But l will not go that far back In
these fast-changing times, you may tell
me. that to quote a speech eighteen
years ago is out of date. l will come
nearer home. Mr. Mckinley made a
speech in 1890. That is only six years
man law, and at that time we were
adding about $24, 600, 900 a year to the
currency under the Bland act and in
that Sherman law there was q provi-
sion for the addition of larger
amount of the money to the currency
annually. and in his speech on that
bin Mr.. Mckinley said that he would
vote, and he would vote to add $780,
100000 q year to the $24, 000,0 900 already
provided; and there declared that the
people needed more money. (Applause.)
If the people needed more money
when they were getting $24,000,000
year new currency; If they needed $780,
100000 besides the 1900, 900, my
friends, it is hard position to main
tain now, when the currency is de-
creasing, to say that we don't need any
more money, but what we need is to
put the money we have to work. (Ap-
plause)
A Voice:-Con1dence
Mr.. Bryan-Yes, my friend has
struck the keynote Of the Republican
campaign-conf1dence Oaughter) My
observation is that when a confidence
man comes into the community Qaugh-
ter and applause) the man who has the
least confidence gets off with the most
money. Our opponents all say Give
us confidence" Ny friends, you have
got to have something for confidence
to rest upon. The trouble Is that the
people have more confidence in the
correctness of Mr. McKinley's position
six years ago than they have in his
position now. (Applause.) They have
confidence that he was right when he
wanted more money, and wrong when
he thinks that we have enough now.
(Applause.) And they have good rea-
son to feel that confidence In the form
Ell position rather than in the latter;
because Senator Sherman spoke in
1880. and he went on to prove by
figures, by population, that we needed
about s54,000,000 of new money every
year. Instead Of having new money
every year, the treasury statistics show
that we have $780, 900, 900 less this year
than we had two years ago in circula-
ton. (Applause) That is the treasury
statistics. And yet our opponents say
that we must maintain the present
financial standard the present f1nan-
cial policy. The present financial policy
means more bonds; and more bonds
means more accumulation of idle
money in the treasury, and less money
at work among the people. (Applause)
You go to hank to borrow money,
and they will tell you that they can't
loan to you; that really they have
loaned down now as low as they dare
to loan. You destroy a part of the
money of the country, AMI you destroy
the money in the banks to he loaned.
And then when you can't borrow mon
ey, when your security is going down,
when your property is falling In price.
! there is only one resort left, and that
is to let the sheriff come and close
your store and sell your stock at auc-
| ton, while you go out and bless the
gold standard. applause and laugh
ter)
Foundation for Finances.
My friends, our opponents say that
they want a sound f1nancia, system.
We say that a sound financial system
must rest on something. 1t can't rest
on confidence" Gaughte-) There
must be something to rest that system
upon. What shall it be? They say
gold Well, where is the gold? "a
voice: In EnglandD Naughter) Well,
now, my friends, the treasury report
estimates that we have about $780,
900, 900 Of gold in this country. But did
you ever try to find it? daughter
Did you ever try to locate it? You
will find that when you adj together
the amount in the vaults at Washing
ton, the amount in the national bank
vaults, and then guess at the amount
| in the state bank vaults and trust
company vaults, THAI you will have ac-
counted for something like half OF 1t.
And if you ask them where the rest
of that gold is, they will tell you that
| that is what is called the invisible
| ter and applause.)
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