The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-10-24


debtors that were injured then; you cam
not help the debtors OF 1873 by swindling
the creditors OF 1896. That has been done
right along: II has been done. IL has been
acquiesced In by the commercial world,
and this nation cannot correct a mistake
OF mankind.
Reviews Personal History.
Let me tell you how have stood on
this question. Twenty years ago at Coop
er Union. in the city OF New York. in 1876.
/ made a speech upon this subject among
others. and I want to tell you Just what
L said at that time. and you will see how
much ] have changed.
Surprising that silver was demonetized
In 1873; denounced It as a fraud on debt
ors. / wanted silver remonetized, but
wanted good dollars. and here is what I
said:
Il am In favor of honest money. I am
In favor Of gold and silver. am In favor OF
paper with gold and silver behind it, be-
lieve In silver. because It is one OF the great
American products. and am In favor of
anything that Will add to the value of an
american product. but want silver dol
lar worth gold dollar. even II you have
to make II four feet in diameter Laugh
ter and applausel
You would shy my head was level then.
IA voice: 1t is level now Laughter
Yes. sir: no government can afford to be
afford to stamp lie on silver or gold or
paper. Honest money for an honest peo-
pie, issued by an honest nation!
II have been told that during the war
We had plenty of money. I never saw IT,
lived years without enriching my eyes
with the sight of a dollar-and the green
back, unless you have the gold behind It.
is no more a dollar than q bill of fare is
dinner. You cannot make a paper dol
lar without taking a dollars worth of
paper. We must have paper that repre-
sents money. want II issued by the gov
eminent, and i want behind every one OF
these paper dollars either a dollar in gold
or silver dollar worth 100 cents. so that
every greenback under the flag can lift up
Its hands and swear: I know that my
redeemer liveth.' [Applause.1 That was
where was 20 years ago. and that is where
i am tonight. For nations and individu-
ais. at all times. everywhere and forever
honesty Is the best policy, [Applause.l
Honor Versus Fraud.
Better be an honest bankrupt than a
rich thief. Poverty can hold in its hand
the jewel honor-a jewel that outshines all
other gems. A thousand times better be
poor and noble than rich and fraudulent
| tApplause.l All, but they say-these
statesmen, these gentlemen who give their
attention to running for Office [laughter1-
they say gold has been cornered Well
Chicago the price goes up. That is what
they corner 1t for. If gold had been cor
| ncred the rate OF interest would have stead
| lily risen. And yet, the rate of interest has
steadily gone down from 1873 TO 1896 zap
| nlause.l That is demonstration that
there Is no corner on gold IA voice In
the audience: Where has the gold gone ?'l
The gold Is In this country-Sc00, 0oO, coo
of It. fAppfause1 And the gold that is In
this country makes every greenback and
| q. 4 -
tApplause1 You take that gold away and
you are bad. You understand that. Zap
plause.l
Now then, my friends. suppose we had
silver money? How would you keep them
from cornering that? How would you keep
the Vanderbits, the Rockefellers and the
Astors away from the silver? If 1t IL GOOD,
they will get 1t. TIaughter.1 IL it is not
good you don't want II. They have just $
good a chance to corner silver as they ever
had to corner gold. The silver viii be
easier cornered because 1t is only worth
fraction as much. But, say these gen
tlemen-you know they love the poor IA
voice: free coinage will bring prosper
ity."1
Free coinage will bring prosperity? I
don't know. am not n prophet nor the
son of a prophet, and perhaps not very
profitable son Ilaughterl, but I can see
into the future as far as any populist
[Laughterl Now, let us see what Kind of
prosperity free coinage will bring. because
want you all to know that want pros
perity. [Applause.1 That is my failing.
Eject OF FREQ Silver.
Free coinage OF silver, that is, for the
silver of the world, would first OF all, bring
us 10 a silver basis. Our money would be
silver We have 5000 0CO, coo in the treasury
in gold. This would instantly go out OF cir
culation. There Is only about $1,000, 000,-
COO of specie currency in the United States.
nv -. z.,I1 r. -. lAff
part of that greenbacks. If we come to
silver basis. then the greenbacks are all to
be redeemed in silver, and they would only
be worth 90 cents on the dollar. All your
national bank bills, secured by government
bonds, would go to 80 cents on the dollar,
because free silver means the payment o.
all bonds in silver.
"And what else? All your glorious silver
dollars would be cut square in two, be
worth so cents apiece. And how would
that leave us? 1t would leave us with only
$3.50 COO, 600 of currency, specie and paper,
and that would be Eve dollars a head for
all the people of the United States, and
this would be done In the name or pros
pcrity. What else would happen? Every
man living on en- income would have to live
on Just half every soldiers pension would
be cut dead in two: every one. And what
else? Every man that had debt would
try to collect II In gold before the law
caught him. Every one. Business would
stop. No money. Panic would come, and
then bankruptcy almost UNIVERSAL; and
that is what these, gentlemen call the pros
perity OF free coinage. There are millions
of people in the United States who are
creditors and debtors. They want to be
paid, and they want to pay the men they
owe.
Nobody can be helped by free coinage
except the few people who could pay their
debts If they were willing. Some say that
1t would help the mine-owners. 1t would
not Coming this bullion into dollars
would not increase its value, because you
could coin the bullion OF the whole world
and the supply would be greater than the
demand. Have free coinage tomorrow
and there is not silver mine owner that
would make dollar, not one, by chang
ing 1t into American coin. 1t would only
be worth what the bullion Is worth In the
open market ..
Now, what wantto say to you Tonight
is .in this country we want good money,
good. honest money, and there never was
any real prosperity for n nation or an indi-
vidual without honesty, without integrity.
and It is our duty to preserve the reputa-
ton OF the great republic. fApplause.1
Let us have sense enough to vote for our
own interests. We did not have 1t in 1892.
[Laughter.l 1 hope we have learned some
thing in the last four years SO remember
al. To-, iaor hat ron no