The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-23


not count It is a terrible thing to al
low the silver mines TO make that prOflt.
Then the next man who comes up Will
say that as a matter of fact the state
ment of the government adds nothing 10
the value of the metal, and that the fres
coinage of silver simply means that yOn
convert 80 cents worth of bullion into
50-cent dollar, and nobody makes any
profit out Of it. (Applause)
Now. / say that the chances are that
if you have two men making speeches on
the same platform in favor of the boiling
democrats. one will favor our not taking
any action until some foreign nations helps
US, you will find that one of them Will,
in all prOha bilities make one argument
and the other .will make the other argu-
ment ami very often the same man makes
both arguments. Now, you can see the
absurdity of it. If the silver miner, un>
der the law of free coinage, finds thar
his silver bullion is raised so that which
is now worth 50 cents will be worth 100
cents, then there are no 50-cent dollars,
and If the other man is correct and the
4 law adds nothing to the value of the
metal, and simply converts ~ cents worth
of silver into a 50-cent dollar, then the
/ mine owner has not made cent.
Wei, then you will hear other men. If
/ two men speak against our position. one
/ of them will probably say that there has
] been no fail i'm prices and ne will de-
nounce the people who are complaining
/ that gold has risen in price, and after he
/ has proved that to the satisfaction OF
4 every man who does not think, then his
colleague will tell you that not only have
4 prices fallen, but that it is the greatest
/ blessing in the world to have prices fan.
ent, but it false all the way
through. Why is it? 1t is because our
opponents have no other theory or princi-
pie or policy upon which they are pre-.
pared to stand and fight and they do NOT
dare TO say that the gold standard is a
good thing because no party in the history
of this country has ever declared in favor
of gold standard, and they do not dare
TO say that the gold standard is a bad
thing, and then tell 70000,0O0 of liberty
loving people that they have got to sur
! fer until some foreign nation brings them
relief. (Cries of THAT is right.'O.
And for one thing. my friends, I want
you to remember that in the discussion
of this money question there are certain
| fundamental principles, and when you
understand these principles you under
stand the money question. I was out in
a portion of the country where they irri-
gate on large scale, and / found enor-
nous plants, and in investigating these,
the thought occurred to me, what princi-
pie underles the subject OF irrigation? 1t
is that water viii run down hill. When
you understand that water runs down hill
all you have to do is to dig a ditch with
a slant, and you can carry water wher-
ever you want. SO 1T is with the money
question. You have got to find out the
fundamental principles which underlie the
subject, and when you have understood
that, you understand the money question.
What is the principle that underlikes it
i all? 1t is the law of supply and demand
which applies to money as to eevrything
else. You know that if the worlds crop
next year of a certain article is very much
greater than the crop this year, that that
article will fall in price. If the crop is
much smaller than this year that 1t
will rise In price. You know that the law
of supply and demand reaches and con-
trolls all sorts of property. 1t reaches and
controls money as well as other forms of
property. Increase the amount of money
more rapidly than the demand for money
increases, and you lower the value of
dollar. Decrease the quantity of money
while the demand for it increases and you
increase the value of dollar. Now
when you understand that you under
stand the essence of the money question
when you understand that you under
stand what its effect is on you, and then
you can tell where your interests lie.
When you understand that principle, then
you understand why the great crusade in
favor of the gold standard finds its home
among the holders of fixed investments,
who by such legislation, raise
the value of the property which
they hold. (Applause). For this
can quote you authority which
your opponents dare not question. l have
called attention, and l shall continue to
call attention to a remark make by Mr..
Blaine in congress on this subject. He
said that the destruction of silver as
money. and the establishing of gold as
the sole unit Of value, must have a ruin
GUS effect upon all forms of property, ex-
IL r-g,f, e.
ed return of money (applause); that these
will be enormously enhanced in value,
and will gain diSproportionately and an
unfair advantage over every other species
of property. (Applause)
my friends, there Is a statement that
no man who has it presented for his con-
| consideration viii dare to dispue. Tho
establishing Of gold as a sole unit of value
throughout the world and the destruction
OF silver as standard money means that
you shall destroy the value Of all
property except money and invest
ments that call for fixed
amount of money. 1t means that you
will give to these investments and to this
form of property-money-a advantage
over every other form of property, when
YOU understand the effect of the policy,
and understand that the desire for it is
manifested most among those who hold
the fixed investments of trade in money.
/ think you will come to the conclusion
that 1 have come to, that the fact that
the gold standard is a good thing for them,
is the principal reason why they are in
favor of gold standard.
Now, then, my friends when you make
up your minds that the gold standard is
a bad thing, then the only question that
you have to consider is how can you get
rid of it? They can raise objections to
the plan which we propose, but I want to
suggest that you are interested not such
in the knowledge of the objection to our
plan as in knowing what plans
they have to relieve the condition. Why
don't they propose something? 1t is be-
cause they do not know what ought to
be done. If so, they are poor people to
lead you out Of bondage. Naughter) Is ii
because they know and will not tell? If
So they have not the candor that ought
to be possessed by the men who win re
deem the people from their suffering and
distress (Applause)
They say that our dollar will be a So
cent dollar. Well, now my trends, they
refuse to apply to the silver that is pro-
duced in the world the law of supply and
demand We say increase the demand
b