New-York tribune., 1896-07-23

he had put his remarks in writing. that what no
had 10 say might be in a shape which he would not
regret having said. (Cheers) He therefore asked
the Indulgence Of the Convention while he read.
rather than trust the eloquence Of the occasion
A, the outset Mr 81. John captured the delegates
bv lnterpola..ng a statement that he should speak
from bankers point OF view. and that II he wero
addressing gathering OF bankers he would use no
different terms. He said:
Gentlemen Of the Convention: The skill and eff
c,ency OF your labors In the past have been re-
warded By the adoption OF your demand for legis-
lation by great organizations OF the people;
nawe yo 'nT are abe to- induce Coalition Of these
organizations FOR the one purpose' IN me desired
Assuming. then. that you VIII prevail upon those
patriots calling themselves the Peoples party TO
advisable TO warrant the desirabilty OF the end In
view. 49,.
value OF each dollar expressed in prices, depends
upon the total number Of dollars in crculati ton
OF dollars In circulation is great In proportion 10
the number Of hngs TO be exchanged by means means
tionatey few. The plane OF prices at present and
FOR some time past Is ana hss oesn o, fu,not iwo
millions a year. scattered over our immense terri
demands an increasing number or dollars IN circu
The increase in the number of dollars when dol
lars are confined TO gold is not suficienty RAPID 70
meet the growth OF our exchanges. The conse-
ouence Is a growing value OF dollars or diminish
Ing value OF everything else expressed In dollars
witch is 10 say tendency toward constantly de-
The fountain head of prosperity has run dry
our farmers all over the country have endured me
depression in prices until they get about - or ~
per acre for an expenditure OF so per acre and the
like. Their credit is exhausted at their country
stores The country store ceases TO order from the
city merchant. the city merchant reduces MS de-
mand upon the manufacturers ManufaSturss are are
ali elements Of labor are being discharged and
poSment. The suffering OF the farmers, who con-
stitute nearly one-hah Of our population ~ thus
and all forms OF labor These combined elements
constitute the overwhelming majority OF voters.
Their intelligent conclusion Will be felt when ex-
pressed AZ the polls.
TIE banker also is without prosperity, prosperity, unless unless
lie rnust learn TO distinguish between cheap money
and money commanding low rate Of interest.
DEAR DOLLARS AND CHEAP
The dollar worth two bushels Of wheat Is dear
dollar and yet 1t commands interest IN wall
Street at present OF but per cent per annum on
call II the dollar be cheapened BY Increasing
the number Of dollars. so that each dollar Will
h,,v less wheat the increasing price OF wheat VIII
increase the demand for dollars TO invest In its
nr,,,ucton Then the borrower OF dollars 10 invest
In the production OF wheat, being reasonably sure
OF a profit from that employment OF the money.
can AFFORD TO pay in'ere., FOR It's use sbsre OF
The profit on the employment OF money. 80 tns,
abundant money money readily S nnsy ~bc
rommards a high rate OF interest, as share OF
the Droft OF the borrower In using IL.
A. ve aup-al 10 the country IN justice or our
cans. one or two points OF common inquiry must
be satisfied as follows -,
rhs eynerjence Of Mexico Is held up for our alarm
w answer first that Mexico Is conspicuously pros
,.,,us az home Her Increase In manufactures
rrailuav earnings and the Ike In recent years 10
phenomena l., - 1,-,, ,or .ho r-n,ed
c,stes for the reason that she has loreign-trade
;rSebr~iness OF about 100000 annually In excess
~ the value q her exports OF cotton sugar cohee
H;des and the Ike. which must be paid Tor IN the
srnus prciuct OF her mines. Her silver. thcrefore
s,aas sbroad as merchandise. and al Valuation
Soa1 Nv The out side world The United states. on
~ o,h her hand Is nation OF N.oOcp or people
@ Wv .,srad over d territory seventeen times the
.a -, Fr,nce 4 single one OF our railway sys-
49, @ ,he Erie exceeds the aggregate railway mile
@ t,n', ali Mexico We offer an employment Tor
as ,ey ~ 10 an aggregate greater than the WORDS
rs mo' s.lver will furnish us. Hence. our silver
pev a. home AMI abroad viii be valued as the
money OF the United oth'ts'
THE OPPOsITIONS THREATS
The opposition threatens us with MOOD OF hu-
-. s,lver upon our reopened mints We answer.
rnrona ha. no silver but her silver money Her
.,,,,., money values silver at from three cents 10
even cents on the dollar higher than ours. Hence
ss' r.,,o,san merchant or banker must sacrnce
49,, "a per cent Of his full legal-tender money