The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-17


for all commodities. But II is a commod-
ity; nothing more: nothing less. when
man gives bushcl or wheat for dollar
In gold he buys a dollar I'm gold
and the dollar I'm gold buys the
wheat. Both arc commodities, and a COM
monity Is something that cannot be manu-
featured by law. [Applause.l
We want little sense. There was a
time when this government issued green
backs, and people called them money. and
still we were getting In debt. We had
magnificent times. But when the time
came for payment then people said DO
not let us pay: let us Issue more green
backs: we had good times then: let as
Keep II up Laughter and applause ]
But whenever you issue your promise TO
pay the day OF payment comes. and when
that comes hard times come along with a..
Here Is man who buys a farm on
credit, buys a wagon on credit. piano
on credit. sends John and Mary 20 school
on credit. And all at once they say:
We want pay why he says, gentle
men, never had better times I'm the world
than when was giving these notes, and
i have got plenty more on hand. and II
you only had the philanthropy 10 take
them my family can be happy stiil.
Laughter and applause.l All these things
have 10 be paid. and they have 70 be paid
In money, and how are you going 10 get
your money? Primarily, you have got 70
dig IL out OF the earth. Then how are you
going TO get Il? You have got 10 swap your
labor, your muscle, your mind, your prop
erty for that money.
Good Money Always Good.
Another thing-good money is always
good. Good money Is always at par. never
at a premium and never at a discount
When people buy good money with bad
money they say the good money rs at a
premium That Is not so. The bad money
is at a discount. That is what Is the mat
ter. IApplause.l Good money IS always at
par And yet we have a man running for
the presidency, on free ./.lver platforms
laughter with two vice presidents, that
says money is the creatlse OF law.
Well as man told is,e to-day, law is
often the creature OF m3ncy flaughterl
hut money never was and never will be
the creature OF law. il you can make
money by law why shouldn't we be rich7
II hundred people should settle on an
island and form a government and elect a
legislature, they could make laws, and
III money is the creature OF law there IS
no reason why they should not be as
wealthy as Great Britain. daughter and
applause.l Law is inexhaustible laugh
teri, and II you can turn Il into money,
no nation has an excuse for being poor.
''Then there Is another thing. II the
government can make money by law-and
i would like 20 have some good Bryan man
answer the question--if the government
can make money by law, why should the
government collect taxes? Laughter and
applausc.l
LET us be honest Here Is a poor man
with little yoke OF cattle cultivating
40 acres OF stony ground. working like
slave In the heat OF summer. I'm tho cold
blasts Of winter. and the government
makes him pay so taxes. when, according
TO these men, II could issue 100000 bill
O., III = 49,. a.
low with the cattle a rest GLaughter.1
Is II possible for the mind to conceive
anything more absurd than that the gov
eminent can create money?
Government Creates Nothing.
Let me tell you why. The government
creates nothing. The government does not
support the people. The people have 10 sup
port the government tApplausel The gov
Crnment is a perpetual paupcr. IL raises no
corn. no wheat, digs no gold IL collects
taxes-alms-and we have 20 support the
government We give a part OF what we
create by our Intelligence, by our strength.
and the government produces nothing,
never did, and never Will. We cannot de-
pend on the government for bread. We
have 10 feed the government.
Withdraw our support, and where would
the gentleman, the official be? What
would become OF your presidents and con-
crosses. were Il not for tho taxes paid by
have 10 support the government; govern
ment cannot support us. and the idea that
the government can create money. In poll
ltics, in finance. IL just as absurd MS the
doctrine OF perpetual motion ia in me-
chanics: just as idiotic as the philosophers
stone: Just as absurd as the fountain or
eternal youth lapplausel; just as idiouc as
tho transmutation OF metals. Any man
capable OF believing that money can be
created by law is Incapable OF reasoning
on any subject pplause.l
"Ah, but they Gay. what makes gold val
liable Is that the law has made IL a legal
tender Again. gentlemen, you are arguing
backwards. Because It was valuable, the
law made it legal tender. Making IL
legal tender did not give II value; but being
valuable. the law made Il legal tender,
recognizing it's value. And, yet, these gem
tlemen say that II got all ts value from the
law making Il a legal tender IL Is exactly
the other way. The legal tender law rests
on the value OF the metal. Why IS gold
Valuable2 / don't know Why do most peo-
pie love oysters2 1 don't know. Applause
and laughter.l Why do so many people get
idlotic about election? Applause don't
know. But these are facts in human nature.
Tor some reason, or for many people give
a value TO gold. And that value Is rccog-
nizcd by the iaw-making power, and that Is
all there 10 to the legal tender act.
"IIow Can Money Be Too Good?"
But says Mr.. Bryan, our money is too
good How can money be too good2 There
may not be enough of II In my neighborhood
there is not liaughtcr.l But how can II
be too good? He says: We want more
money | say Yes. We want good money,
and the moro good money we have, the bet
ter There has been added 20 the money OF
tho world 1925. 100000 in gold the last year,
dug from the miserly crcviccs OF the rocks
Next year there VIII be. in all probability
500 900 more than that We are get
ting more good money
But he says, We want cheap money
We'll, why? Because the money Is now so
good that people hoard It. Consequently
lac wants TO get money that nobody VIII
want TO keep. lApplause.l Money that
everybody will be crazy TO spend. III
we get that kind OF money, who Will take IL?
I'm this city, many years ago there was
an old colored man at the Grand Pacific.
met him ono morning. and he looked sad,
and said TO him: Uncle. what IL the mat
ter?' Well, he said. my wifo ran away
last night. Pretty good looking woman,
tI..t. nv I.ftf ola Hu