Omaha daily bee., 1896-05-17
UNITED STATES A DEBTOR NATION.
Mr.. Roscwnter Answers Some Cues
iinns Askch hN MIR. nrNnn

lbb uOlidi " NAN ANNANNA 49,
debtor class, and | am willing to explain 1t
so fully that my friend will be well satisfied,
l hope.
The people Of the United States are a
debtor nation. That is strictly true. The
progress that we have made, the marvellous
progress that the United States of America
has made within the last thirty years is due
almost entisely to the fact that our credit
was frst-class in all parts of the world
where money was abundant. 1t is due prln-
cipally to the great achievements OF the re-
publican administrations, beginning with
General Grant, in paying the national debt
and reducing the national debt from nearly
So, 600, 900, 600 down to below $500, 600, 600,
that the credit of the nation advanced
steadily for the last twenty years.
Why did 1t advance? Because the people
abroad who had money to loan had confidence
in the integrity Of this nation. And II haa
any one thing to say above all others, one
motto would be inscribed above all the in
stitutions Of America, and upon every door
post in every house in America, 1t would be
honesty and integrity-integrity OF purpose
integrity in debt paying.
What kind Of money did you borrow? II
you are in debt, Mr.. Bryan, what kline ana
you borrow? You borrowed good, honest
money, didn't you? You borrowed none be-
fore 1873; you borrowed none of the money
that was based upon the inflated currency.
You borrowed money, 100 cents wcr'h 70 the
dollar. Why do you want to ray u win
deprecated money? Is it honest? Is II
right?
IT WAS EQUAL TO GOLD.
Surprising you had borrowed an umbrella.
Suppope you had been overtaken by a shower
and entered a house and you had asked your
neighbor whether or not he could loan you
his umbrella. 1t was a silk umbrella, ana
you received the umbrella, promising to re-
turn it in due time, and in due time you
should return him a cotton umbrella. NOW
that is precisely the position you are taxing
now with regard to the currency question
with regard to the public debt. Every dol
lar that the people of the United States have
borrowed was equal to gold, was on a stand
ard OF gold when it was borrowed.
Now do you believe that people would be
| foolish enough to loan money to any DEBTOR
| in the United States on the very best security
unlesu he had reasonable assurance that ne
would get just as good money as he leaned?
| And that is our interest. The debtors IN
| terest is greater in keeping the credit OF the
nation up, in keeping the credit OF your states
| and cities and individuals, than 1t Is in pay
ing with deprecated currency. Great ap-
plause)
You could not borrow a dollar If it was
known that you did not intend to repay the
! loan you got in as good money as was made.
Do YOU want this country to repeal the laws
that would enable any man to make a Voiun-
tary contract? Why don't you say that Eng
land should repeal the Magma Charta? Tine
right Of contract has been granted to every
free people since King John granted freedom
| to the English. You talk about repeating
that, why, sir, such a law would be a dead
letter in every part Of this country. AS the
no treat law has been in Nebraska.
NV Friend has said that machinery has
had nothing to do with the lowering OF
prices. and that greater advances In labor
saving machinery have been made prlor to
1873 than have been since 1873. l beg to
| differ with him. l will only call attention
TO some Of the changes that have taken
| place. We will take 1t in the business IN
which we both are presumed to be engaeen
the business of printing newspapers; IN
1882 they were still using that camel-back
elephant ten-cylinder press that required
ten men climbing over each other in order
to print about 1000 papers in an hour. /
saw one O: these in the office OF the On
| cinnati Commercial in 1873. In 1873 the
arst Webb perfecting press came into use
II was on view at the Centennial exposition
and ran of IL. 900 perfect papers In an hour
with only one feeder. Now there are presses
that print 90, 1000 papers in an hour. TWO
and one-half years ago l invested in twelve
typecasting machines.
IN THE PRINTING BUSINESS.
We had seventy-two printers employed in
our office at that time and immed ately after
ward we discharged forty-eight and twenty
four. | think, remained. The price of com
| position prior to the Introduction OF these
| machines was 40 cents per l,OOo ems lot
night work and 81 cents for day work, and
now that composition costs us IA cents per
1000. And yet my friend, Mr.. Bryan, VIII
| insist that he knows better than l do
whether machines have caused the re-
duction of prices. The printers we
have retained are getting better
wages than they did before, but those
who went out, have TO seek a living In
other directions. The men and women work
| ing eight hours in the day time earn $3.50
per day, and night work so cents for every
hour. making "a a day, so that these men
earn s2S per week. But the poor fellows
who were crowded out had to work their
way into other avenues of trades, and some
of them may be unable to get work, and
how are you going to help it by free coin
age? What has free coinage got to do with
that? Why, sir, these free silver advocates
remind one of those nostrum vendors who
are constantly claiming that they can cure
nsumpti cancer, epilepsy, bron-
chitis and every other known dis
ease with one particular remedy,
and 1t is that medicine, the free
and unlimited coinage, which is guaranteed
to cure and drive away all the ills that man
| kind Is heir to. Now ! believe that there
probably are fifty different causes respon-
sible for the reduction and lowering of
prices, and that they brought about the
| depression of our industries and the COM
mercial stagnation, but of all these, the
constant tinkering with and disturbance of
our monetary system is largely responsible
for the destruction of credits. As | say,
TO something like sos, 00O. OO0. 900 per annum,
where the circulation of money alone is
only equal to about SIS, 900, 600 in the United
| States