Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-05
SOUND MONEY MEETING.
Flower, McVeagh, and Fellows on
the situation.

CHlCANrO, july IA puDIIc iIe'eihS u
friends Of the sound-money cause was
held this evening in the Auditorium-a
theatre connected with the hotel Of that
name, and capable of seating some 5000
or 1900 spectators. There was not va
cant seat to be had when the serious
business Of the evening began-the hour
between Z and having been filled up by
select pieces Of music, given by the band
Of the First Regiment. On the platform
were seated Senator Cray. Of Delaware;
Colonel Fellows, OK New York; Franklin
McVeagh. Of Chicago and many other
supporters OF the sound-money cause,
and large number OF ladies.
The meeting was called TO order by
Ex-Governor Roswell L. Flower, who
said: I'VE are just emerging from the
panic OF 1893. In that year the banker
the capitalist. the manufacturer, the
merchants were all cut in the middle
financially. 1t gradually paralyzed the
whole country until the year 1850. when
1t began to knock down the last brick
I'm the row, and that was the agricultural
community. All through 1893 and 1894 the
farmer was getting good prices for every
thing he raised from the soil. and it
would seem as though he had escaped
the ravages Of the panic. but. ike all
panics il did not end TIL IL reached him.
The farmer has had a sad lot for the
past twenty years, but no sadder than
other investors, as L will show. He is
suffering from an Overstmulation by the
governments of the world Of his particu
lar line.
PACIFIC LAND GRANTS.
"In 1868 the Congress Of the United
States gave land grants to the Union Pa
cihc railroad. 1t was necessary to connect
California with the rest Of the Union to
save her. Then followed the building Of
the Southern Pacific, the Northern Pacific,
the Rock Island, and the various other
branches of commerce that reach out from
this great city Of Chicago. The railroad
companies received alternate sections Of
land from the government, free of charge.
The building of those railroads induced
settlers all along their lines TO purchase
what the railroads did not own and open
up the territory. Thus the railroad COM
panies advertised their lands in Europe
as homes for the people, and sold them.
and brought into this country another
large body OF people TO compete with the
farmers Of the East.
"The farming lands Of the East were
worth on an average $50 per acre. The in
terest on one acre of land twenty years
ago would be $3.50. A farm I'm Iowa ILL
IbSt MlilfNbAus VI 4NfhldShdf WI III ~
an acre-the interest on that land would
be So cents Now, for this difference on
an acre OF land-S3.l5-the farmer Of the
West could raise double what he does and
ship all the products Of one acre to Liver
pool for the difference in interest on his
lands per annum. What II the land value
in the East went down and the western
rise in value? These cheap rates Of trans
pcrtation by rail and water from the East
had levelled the land In the Eastern States
and raised the value in the West So that
If there had been no other causes at work,
the farmer I'm both the East and the West
would be sure to do business on rising
value of his farm.
But the British Government loaned the
money TO Canadians to build the Cana
dian Pacific, opening up vast prairies Ike
our own, and their wheat, when harvested,
was shipped directly TO Liverpool Then
Fl elish capital also bought 1900 miles OF
Railroad I'm India opening up vast wheat
fields and cotton-felds in competition with
our own. You all remember the Barring
failure Of 1890 The money that firm eX-
pended was to develop the Argentine Re-
public, opening those vast ana proiihc
fields with railroad systems and water
ways. so that she produces forty or fIty
million bushels of wheat annually. NOT
only that. but Russia opened up 2,cv miles
Of her frontier with RAILROADS.&C. beautiful
and productive prairies as our own wheat
fields.
WHY FARMER is UNHAPPY.
'Do you wonder that the farmer Is un-
happy. with all the governments OF inc
world stimulating the farming INDUSTRY
and opening up their unused ianuS 10 ,i.o
railroads? Do you wonder at the low
prices of wheat and corn when we nave
in the United States more than double the
crop? DO YOU wonder that cotton was low
i'm 1885 when in 1894 the cotton planter
raised 50 per cent. more cotton imam nc
ever had raised before? Is this not the
reason why the farmers products are
low? Is not this the proper anu oHis
safe reason why the supply Is a'Nas .
greater than the demand or inc WORM
There is no manufactured article put
What has met the same fate. Steel rails
have gone from 500 10 S25 per ton. lron-
ore OF which YOU have such vast fields IN
Minnesota, greater than any other couh-
trv in the world, Is produced to-day at
one-half the cost OF seven years ago
"You know all about this from business
here. because in this city or chicago you
manufacture 5000 tons per day, ana inc
fun output of your iron industry mere Is
equal 10 the whole Of the output or Great
Britain. Lead is prodced and SOLD at one-
half the price il was seven years ago,
Silver. through new appliances. is hiiiieu
AT one-half the cost il was twenty yeaI'
ago. and gold is produced in greater GUAM
titles this year than gold and silver "ei0
Together i'm 1873. The silver and gold pro,
ductlon of that year was one hundred anu
esventv-eight millions, and in 1895. OF golu
alone one hundred and ninety-nine anu
ono-belf millions. You. my farmer irlehos,
orc no, alone IN the depreciative prices Oh
vour nroducts. and / challenge any sH'ol
,,,on 20 give a reason so clear why corn
and wheat and other crops OF tne Ia nv
have fallen because silver has fallen'
"Rut ladies and gentlemen, l leave inc
ovestions of the hour I'm other hands. ~
is now my pleasant DUTY TO present ~
Won a gentleman high In standing III 'iii7
civ as a merchant and manufacturer
Hon. Wayne McVeagh.
WAYNE MVEAGH.
Mr.. McVeagh addressed the meeting,
He said that this great assembiase hau
rathered because the nation and the
Democratic party were brought face 70
face with an impending crisis. ThlrV'
six wears ago-in 1S6o--a memorable Dem
ocratic convention had met. Then. also
the nation and the Democratic party
stood face TO face with an Impending
crisis. Then the unity of the nation was
al stake. Now It's honor was az s'ahe
That honor had 10 be preserved. Inc
agencies aud the waste OF war. Nortn
and South, would turn to wantonhess IL