The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-08-07

some years the additions are not great
and IN others the additions are great, but
the history OF the world shows that while
THE PRODUCTION OF SILVER AND
GOLD,
both or them, in past times used to be
very nearly uniform, that is not the fact
now. The fact is the world is one hum
dred years Older than it was hundred
years ago today, and it knows more, and
1t has discovered processes of producing
silver at prices that would make the old
Spaniard aghast at the thought of it.
Now, let us see what effect that has
mad can't remember ell these figures,
put can remember some of them-in the
i've years before 1870 there was 648 mil
lions of gold dug out of the earth; In 1899
to 1895 1t had increased to 753 millions
about 100 millions. That is an Increase
the world could stand without distur-
banoe. How was it about silver for the
i've years from 1865 to 1870, coinage value
am giving you, it was 279 millions.
How much do You suppose it was from
1890 to 1895? l,004 millions-four times
as much. And do you suppose that under
such increase Of production the level Of
the silver could remain stable9 Why we
know it did not, and get, during that
period OF time, the United States has
bought and used 625 millions of silver,
takensitsout OF the market Nevertheless
1T has been going down; and this produo-
tlon has been on falling market.
Let me toll you one simple thing that
these silver men won It tell you. Probab-
ly one-thlrd, perhaps, l am undertaking
or oyerstating it, probably one-third of
the silver produos of the United States
was produced as the result of the tariff
on lead, it was by-produot. Now, all
this production Of silver shows where we
are going to come to il we get IN a sill
YER basis. The world Will so on measur-
ing things in gold, and then they will
calculate from that about us. Well, you
say, II this new world will have capital,
why won't the world let us have their
capital on silver basis. Well, suppose
they will after awhile. They let Argen-
tina have 1t on paper basis, and
THEY HAD A NICE TIME OF II, I.
| and they won't forget it either; but II
they let us have it, it is going to be at
great price. Why? IL is very simple
matter. Don t leu US confuse this bust
ness of borrowing and lending by our lit
tie private prejudioes. I like to have the
grocer furnish me with suitable food, be-
cause l want to keep my present weight
and f1neness. (Applause) And don't
have any feeling Of personal satisfaction
when / see the bill. like to have my
uailor clothe me, and yet l hesitate lit.
tie bit-not permanently-bu l hesitate
little bit about paying. Nevertheless,
l shall go on, and you will, buying food
and clothing. and really 1t ID just as
advantage of the grocer and tailor, hence
We keep up pleasant relations, though
the bills are really never pleasant.
Now, II want money, nobody comes
TO take me by the throat and force it on
me; you have noticed that (applause);
they never do. You have to agree to
terms that are suitable to them if you
ly natural, because money Is pretty val
liable. Ii you have a thousand dollars,
that thousand dollars has the potentialit
of house, the pOtentiality of 30 many
bushels of wheat the potsntiality Of 80
| many pounds OF beef. the potantiality of
everything in the world, all at ouoe as
long as ..% you keep 1t. For, as Carlyle
world is his slave to the extent of six
pence;' but when you have used your
thousand dollars and bought house
with it. the potentiality is gone You
have got to wait until man comes
| round that wants, not only house, but.
| just that house at your.price, elss you can't
have the thousand dollars back again.
| Hence, man Is not going to let you have
money, unless he thinks he is going to
get 1t back.
NOW INTEREST is ONE THING
and interest Is good many things. II
a man is doubtful about getting his
money back, If he thinks the chances are
only one in four that he will ever get 1t
back, he is going TO let his money on
such terms that by means Of interest, or
division of his loans he will get 1t back
again.
remem Der when / was in California
In 1858 and '64, ana they were getting
| per cent month on real estate-36 per
cent. all your money back In three years.
| Now, why was that? Because In Califor.
MIA at that time, and especially earlier,
today there might be town and tomor-
row there might be deserted mining
| camp. and il man didn It get his money
| back by heavy interest, he never would
get it at all. Now all these chances are
taken into account in just that way. If
you SO back to currency that is bad,
| tiuotuating, liable to become worse, If a
man lends you money, be- win put on
such an interest to 1t that will cover all
| gAta0 OOAunAu IOu WUu RoU Uu6 D0n6-
fit of the doubt; he will have that All
but you say. there are lots of us in debt,
we would like to pay off in cheaper mon
ey. Well, now, of course, my friend, IL
that is your view of It, you must intend
to be honest; every man says that out of
respect for himself. Now what you
want to do then is to scale down your
debts because the price of gold has gone
up; that is what you want to do. How
long has gold been going up? Why the
good silver man always states 1T, ever
sinoe the stealthy characterization Of sill
yer in 1878. Now, my honest friend, did
you contract that debt of yours in 1872
Well, the chances are that you did nov
contract 1t more than three years ago,
for that Is the average of debts If,you
contracted 1T three years ago and want
to square up on the rise of gold for three
years, why do you try to square up on
the rise of gold for 20 years2 Your share
of the Else cannot be per cent and you
help yourself to So That cannot be hon
est. can it? And yet, If you go to the sill
yer basis, that is what you will do. But
| for the good of society, it so happens THAT
men are not ali debtors of certain class
| with the creditor ranged on the other