The San Francisco call., 1896-08-02
sEcRETARY .MoRroA,s SPEECH
Declares There Vas No Criminal De-
SaonetisGtiom of SfIrer.

Declares There Was No Criminal De-
1aonetisGtiom of Stirer.
+ NEBRASKA CITY, NEBR.. Aug. L.
Secretary J.'Sterling Morton delivered a
speech here tonight. The address was
confined entirely to the financial question
and contained no reference to Mr.. Nor
toms alleged candidacy for the Presiden.
tial nomination on a second Democratic
ticket.
Secretary Morton was greeted by large
and representative audience. There were
a large number of ladies in the assem-
blage. The meeting was entirely a nom
partisan affair, prominent Democrats, Re-
publicans and Prohibitionists being upon
the stage. Secretary Morton was pre-
sented 10 the audience dby Hon. John Mat
tis'Jr. Morton was grateful to the citi-
zeps for the confidence expressed in ex-
tending the invitation to speak on the
financial question, He entered into dis
cussion of the history and functions of
money.
He declared that there was no criminal
demonstration of silver in 1873, but that
1t was done after full discussion. The is
sue of deprecated silver money caused the
boarding and taking by foreigners of the
better gold monev. This was the cause of
she panic of 1893 The creation of the
gold reserve of $10O, ,000, 900 declared the
purpose of the Government to maintain a
gold standard. If there was any con-
spiracy in 1873 against silver there was a
crime against the hatboat by the steam
boat and a crime against the steam boat by
the railroad, and against the horse by the
trolley-car and bicycle. People confound
the desire and demand for more money.
There is no demand for money unless you
have something to give in exchange. All
desire money. The silver dollar is not
mentioned in the act of 1873, but was de-
monetized in 1853, and the law did not
harm nor hinder the circulation OF silver
dollars among the people. There are
plenty OF them-enough to put eigbty-fve
In the hands of every man, woman and
child in the land.
There is no demand for the silver.
Ninety-seven per cent of the wholesale
business and 90 per cent of the retail busi-
ness OF the country is done without the
use OF any coin. The mortgage indebted
ness OF Nebraska Is not nearly as large per
capita as that of New York. II this audi.
ence was given all the money in the uni
verse on condition that they hold it and
not use it they would be as Door as could
be.
Ii the silver men carry their point, ali
who purchase of US will pay US in silver,
and all who sell to us will demand gold
and we will have to pay the premium. A
silver country is between the upper and
neither millstones.
The value of all commodities is regu-
lated by the law of supply ana demand,
and this is why silver is now cheap. The
United States can no more fix the value of
silver than Nebraska can fix the price of
corn. 1t the price of silver can be made
permanent so can. the price of all commod-
ities be fixed by international agreement.
Value cannot be created by statute. A
dollar cannot be made from 80 cents worth
of silver, for dollar is not built that way.
The farmers never knew how badly off
they were until told by the walking dele
gates, whose oratory consists of sixteen
parts OF wind to one part of fact.