The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-07-30
IN OLD YORK.


which proves that the demonstration Of
s.Ieor would be good for the United
stat s, that does not prove that it would
10 good for the whole world. If it is o
..gll,i disease, how oan it be reached ex-
ee4t by u world ronledy3 International
olnetalism, [ can understand, but this
.slyirg out Of gold and substitution of
III yer is only silver recommendation for
the United States. It is not bimetalism
ior the world and n stable currency, but
he shifting from gold currency and
civilized Europe and going over to silver
Ind Mexico, Japan, India and China.
Oh, but China and Japan, India and
Mexico are prosperous just now" Yes,
1ut what kind of prosperity The pros
perity of cheap labor growing cheaper ev-
cry day. Manufacturers there may be
prosperous, and traders may be prosper
bus, bus the people are not prosperous at
VII. In silver countries labor Is cheap
md kept cheap by the silver dollar.
for my part [ do not want that kind of
Prosperity. ] want prosperity, which
by good wages to all is shared by all. We
sFant T. broader life broadening every day
fer all our people.
I won't discuss the question whether
the free coinage of silver will raise it to
par or not. Very few people claim that
1t will and if they did / could not be-
tioYe them.
/ was told in 1890, by two of the most
sincere as we'll as the ablest silver men,
that the purchase of 4,5O0, 0O0 ounces a
month would raise silver to par, and
when we did buy it silver went dow
like lead. Silver men have not peen good
prophets in the past.
If then we are going to have dollar
inferior to what we have To-Day, what
will be the effect Of it? Higher prices
they say. Not for everything. II you
have hundred dollars in the savings
L. rat hI1n6Fpd
dollars from the bank. II this wild pro-
jsct succeeds and you are paid IN silver,
you will set ths one hundred dollars,
but they will be so or 90 or 10 cent dol
lars. If you have a pension that must
be scaled down. If you have bond that
goes down too. Will the wage Garner
be any better of? What you buy Will go
Up. viii your wage go up too? There
Kou have experience TO guide you.
Wages during greenback times measured
In gold did not go up AS other things
did. Thoy went part way but not all
the way up, and were very slow about
that. But wouldn't business be better
for more money! Il might be after a
rsrrible crash with bad currency and
than we would have to get back again.
Brandy may~seem to strengthen but plain
bread and meat are the Gurest. What We
want is not more money but more CAPT
tai. Money always comes with capital.
We have money now more than we can
use, living idle. re have just exported
q lot of it. Money is the transferer of
capital, as hayraok and horse is A
trausferer of hay. More hayracks will
never make more hay, but more hay VIII
require n0re hayracks, ana is sure to get
Them.
If I sell my house in Portland, or
mortgage it for s., 600, and send the result
TO q Washington State coal mine and 1t
is spent and comes back to Casoo bank,
my s., coo worth of capital is in Wash
ington Just the same. What this whole
country needs is capital from abroad,
from the whole orld. ! expect some OF
you will be surprised and ask whether
the world of the United States is not inn
mouse and sufficient. Immense, yes;
Guf1iaient, no.
Our capital is great. but the United
States is very much greater. There are
millions of square miles and 90 million
# people and undeveloped riches with
cut stint. But thcre is not capita
enough to keep 70 million of people at
work When are we the most prosper
ousg 1t is when the rs million are all
ut work. and when that happens we bor-
fcw If the rest of the world thousands of
millions of dollars. Let me give you
one plain proof of the fact that money
comes with capital. In 1890 We were
prosperous. Our people were all at
WOfk. consequently DHSTo W6fo BOUu
wages and wealth greatly Increased. Al
that time the Figures show that III that
year we had $40. 600, 900 of gold more
than we had in 1e82-every bit of that
had been imported or kept, the product
Of our own mines. it was busy trans
ferFipg this vast capital We had borrowed
land hat which We owned ourselves.
Nav just as soon as this election is
over and the future position of the
United States ia assured, both MS to mon
ey and to the employment of our people,
capital is ready to come to us from
abroad aud from our own people and we
shall again be prosperous.
! know this plain temperate statement
does not seem SO high colored as will be
sponsible for what they say, but it has
one adyantags-it will be found to be
true.
God keeps the future for himself Only
His eye can see the fullness of truth, the
days to come, but He has left us some
ai!Inpses Of them in the past, and if men
Will only take guidance from experience
they will as they can ID no other way
show. their superiority over the brutes
which perish.
You and my friends have been to-
gether for twenty years; two-thirds the
life of a generation Of men. 1t would
be singular II the past could give us nc
dOAp AA OAASAS VI dAIRs 0uU IL
can. We have been through all this once
before. The Greenbackers OF 1878 were
not bad men. They were sincere and
had better case than the silver men OF
today. In fact it was much the same
case. We must have artificial initiation
and cheaper money they said, or blacklist
ruin awaited us. 1t was hard time.
Prices were low and work WAS scarce
taxes were high and debts hard to pay,
but we persevered and resumed specie
payments
FEsm that moment the capital of the
world was at our disposal. We had q
good tariff which made US all do all our
own work and from 1879 to 1893 fourteen
years of prosperity which placed the
United States in great position in the
world.
If we do the like thing today, like thing;
will follow. With revenues equal to oul
emergencies undue export of gold will
cease. With the certainty that the dollar
paid will be equal to the dollar lent will
GENE credit and confidence. With that
other certainty that we are to do all ouI
own work will come the earning of
WAGES steadily increasing which is the
fasis Of that prosperity which is alone
l. L.