The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-10-31


only half as valuable? DO you understand
that bushel Is anything more than 80
quarts? Is IL? IL isn't more than four
pecks. anyway llaughterl. and four pecks
Is no more than a bushel.
The Claims of the Siiverites.
"oh. but you say: We believe that sill
yer VIII appreciate and become just like
sold Now. wish TO remark in par
entheses, If that Is so the poor farmers
whose debts are going TO be paid are going
to be lost somewhere I'm this shuttle.
lLaughter.l But l leave him to take care
OF himself and say In response to the state
ment or these gentlemen that they be-
lieve,' but that the facts of human history
are against their belief Why. could even
cite China, and Japan, and that glorifed
country OF Mexico. which some seem to
think deserves imitating--I could even cite
them to show the folly of their proposition.
But prefer TO confne my citation To the
United States OF America. which is good
enough history for me. [Applause.l
Why, they say. don't you recognize
the great law of supply and demand? When
there Is demand, how can II happen that
prices will go up?' Temporarily. yes But
there Is another great law of demand and
supply, which Is more imperious still, and
that Is, whenever there Is a big demand.
there Is always big supply following that:
and that supply Is always sold at less
profit. Now, that Is u rule which applies
10 everything IN the world. inc Digger the
demand, the larger the supply and tho
lower the price. When cotton cloth was
not In much demand you paid 50 cents for
1t. Now you can get 1t for five cents yard.
Everything works to that end in modern.
civilized world Now. that Is the whole OF
II.
Operation OF the Bland Laws.
Let us see what the fact is. In 1878 We
went to work and bought two million dol
lars worth OF silver a month under the
Bland law. Then In 1890 we bought four
million five hundred thousand ounces of
silver. That is about all we made In
America. What was the result? Why,
there was a tremendous increase OF de-
mand. What was the result? Higher
price? Why. no; 1t went right down, jus,
as IL 1t had been lead instead of silver.
Now. want to ask you If coming the whole
American product. or nearly the whole,
has resulted In lowering the price of silver,
what will coming all the rest of the silver
In the world do? Isn't that simple arith-
met!c? We'll, don't let us have any more
weak alternatives in connection with this.
Prove something or quit the field. lap
plause.l
But you say. the good farmer will be
relieved Well. all can say is, whoever
dimes with Satan had better be very sure
OF all the specifications for his protection
before he goes into the business. Zap
plause.l
IN the nrSt place, Sucn q man, even upon
their own theory. cannot lie quite honest
who wants to pay his debts at so cents on
the dollar because OF Il depreciation which
they claim for silver ever since that lated
year 1873. All that they claim for IL Is
drop of five cents. They say that that
happened in % years, Il years, to be exact.
Well, now, II there is a man here whose
debts run back to that time should like
TO see him. ! think he has been lucky, and
has the confidence of the community. lap
plausC and laughter.l ON the average there
Is no debt that is three years old. Are you
going TO settle with your creditor and pay
him orc-quarter, take one-quarter of the
depreciation. or are you going to take the
whole? II you are going 10 take the whole
you are not honest.
Half the Debts VIII Remain.
Now, am going to say another thing to
you. Whether you are honest o. not. II you
DO that sort of thing you VIII get into
trouble. In this world as whole the priv
ilege OF borrowing 10 OF more consequence
than the Reputation of debtf. even If you
can do 1t honestly [Applausel If the
farmer gets rid Of one-half of his debt he
will still have the other half TO struggle
with, and he Is going to struggle with IL
in u world that doesn't believe much in him.
lApplausel In other words, the one-half
that he did not pay comes out OF somebody,
spoils somebody else's business and spells
the business of the whole community, as
l will point out to you in few moments
.bsolutely spoils It, and he has got to pay
that other half under 4 disadvantage that
will make him wish that he had good
prosperous country and was going to pay
the whole A voice: Louder.1 Gentle
men. am doing the best can Applause
Il say that 1t does not pay to do this
thing, because the power of borrowing Is
of the utmost Importance. Why? You
know there is vast difference between
dreamland and the world of fact. In
dreamland every creditor Is rich man and
every debtor is a poor man. but in the real
world that Is not so. The time was when a
debt used to represent how far behind
man had gotten in this world To-day 1t
represents his belief in the future. lap
plausel And some of your ablest aRd
strongest men are the men who in times OF
prosperity are carrying the biggest load of
debt.
3:g Concerns Arc Borrowers.
Every big institution H. his country is
In debt, and when II Is the most prosperous
it Is In debt the most. Tab. great com
pany that l know of here. II, simes of pros
perity II borrow5 IS, 000, 900 o. 10000, 900 In
times Of adversely 1t lends n-tGey to other
people. IL you will think -ssnment you
will see that there Is not an entt-~rlse upon
which civilization Is dependent Sat Is not
dependent on the borrowing power. What
does the borrowing power depend on? It
depends on the confidence and honesty of
the people at large. tApplause.l A dis
honest community cannot borrow money
II see that gentleman who figured In
the Chicago convention for both offices has
allowed himself to be interviewed, In which
interview he said that every man that had
money would lend it-would have to lend IL
because 1t had to earn some money
Now, let us put that to plain test.
Suppose there were In this audience
some gentlemen who have got ten dollars
each, probably several. Now / want to
say to each one of those gentlemen, II a
man came to you and wanted to borrow
that ten dollars, and told you frankly he
was only going to pay you five dollars.
would you let him have the money, or
would you let II lie idle? But suppose you
thought you would like to make a good
turn there, what would you do? The first
thing would be to. get so cents for risk:
then you would want about ten per cent.
more for incidentals. and you would give
him four dollars and take his note for ten
dollars. [Appause.l OF course you would
lend It, IL you didn't do that you might
initiate some senators and vice presidential
and governors and make them
give a gold note. and so secure yourself
against this prosperity by law.
Money Is Needed.
"Well. now. IL you will not loan man ter
dollars. do you suppose the man with 800
has got any less sense than you have?
fLaughter1 Don't YOU suppoSe that a