The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-08-06
A NON-PARI|SAN ADDRESS.
THE HON. j. STERLING MORTON
TALKS FINANCE TO HIS EEL
LOW CITIZENS.
ALLEGED CRIME OF THE YEAR 1873
AS the Steamboat Was Substituted for
the Flatboat, So Was the Gold
Standard Substituted for the
Silver Standard.

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Nebraska City, Neb., Aug. Hon. j.
Sterling Morton delivered non-partisan
address on the financial question to Il
large audience. He drew comparisons
between the money of the country when
he came to Nebraska in pioneer days and
now. He says there was nothing sub
stantial, such as cattle horses and hogs,
and not until the present was there an
effort to create value from something
which has no commercial value. After
explaining the object of money, Mr.. Nor
ton said
The sole origin, course and cause of
value is human desire. When there is
a demand they have value. When the
supply remains stationary and the de-
mand increases, the value increases:
when the demand ceases the value is
altogether gone. This shows clearly
that the currency of people must be
readily eXchangeabe for those things
which the people desire and demand.
The currency itself must be desira bic
and must be demanded by those who
have something to sell. The farmer
who sells cattle and hogs finds that the
| customers demand the best quality in eX
change for these things. The buyer of
the farmers product is seller of money.
The seller of those same products is Il
buyer of money. The purchaser de-
mands the highest known quality of the
| farmer. Therefore the farmer de-
mands the highest and most unfluctuat-
ing and general purchasing power in the
money which he buys. Never before in
the history of civilization have any num-
Der of people protested against being paid
more than Il certain sum for commodi-
ties which they have to sell. But today
there are many farmers and labOrcrS who
declare themselves in favor of n system
of coinage which shall pay them only
sixteen ounces in silver in lieu of one
ounce of gold. These people are de
claring everywhere that they will be alb
Solutely ruined If they be paid in more
than sixteen ounces of silver instead of
one ounce of gold. The commercial ratio
of these two metals today is about 81
to |: that is, thirty-two ounces of silver
will buy one ounce of gold bullion. The
reason for declaring in favor of Il mint
value for silver which is twice its bull
lion value is ineXplicable upon the part
of those who have no silver bullion Ia
com. The advocates of this system of
coming silver at double its commercial
value and gold on an equality with its
commercial value declare themselves to
be blmetallists and assert that they are
in favor of two units of value. And
while two units of value are to my mind
unthinkable, they, in their statement
show that they themselves have only one
unit of value and that is the gold unit
Whoever says he is in favor of tie free
and unlimited coinage of silver ut IS to /
declares himself gold mOnometallist.
But it is impossible to cover the whole
ground in Il single desultory speech. Let
us then go back to tile alleged crime OF
1873. Was there n conspiracy; if SO
who were the conspirltors? They were
the genius of trade. the enterprise of the
American people and the intelligence OF
an advanced civilization. The flatboat
III which | crossed the Missouri river il
the autumn of 1854 was by conspiracy
between capital and human ingenuity de.
ferryiZcd and the steamboat took IFS
place. The change took place because
immigration and the development of tn,
territory became too big for natboats
Later on conspiracy again TRANSFERRED
wherein capital and civilization hav,
continued to deferryize the steamboat
and build the magnificent steel bridges
upon which our trains pass every day
This government is not Il Judas Iscariot
among civilized nations. 1t refuses tc
betray honest dealings 1t scorns ever
thirty millions times thirty millions
pieces Of silver and is compelled by it.
judgment and its conscience to reject
the opportunities of those who would de.
liver the safety and perpctuity of III,
country into The hands Of socialism
fanaticsm and dishores.y. |. ignore,
an1 sCorns all those Who would app!.u1
and icer Il The cluciixiou OF thc cred,
Of our government which has been. and
savior of civil and religious liberty. fL(
friend and asylum Of the poor and on.
pressed Of I'll nations.