The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-24

Only lialA ~ NuA0ApioI 10 You utucIsAihi
that bnshcl Is anything more than 81
quartsg Is itf IL isn't more than four
pecks, anyway flaughterl, and four pecls
Is no moro than q bushel
The Claims OF the Siiverltes.
''Oh, but you say: We believe that sil-
yer Will appreciate and become just ike
gold Now. I wish TO remark Ia par
entheses. n that IS 20 the poor farmers
whose debts are going 10 be paid are going
10 be lost somewhere In this shuttle.
lLaughtcrl But / leave him 10 take care
OF himself and say In response 10 the state
ment OF these gentlemen that they be-
levc, but that the facts OF human history
are against their belief. Why. / could even
cite China. and Japan. and that giorihed
country or Mexico. which some seem TO
think deserves imitating-I could even cite
them 10 show the folly OF their proposition.
But prefer 10 confine my citation 20 the
United States OF America. which is good
enough history for me. lApplause.l
why they say. don't you recognize
the great law OF supply and demand? When
there is a demand. how can II happen that
prices VIII so up?' Temporarily, yes. But
there is another great law OF demand and
supply. which is more impcrious still and
that Is. whenever there is n big demand.
there Is always big supply following that:
and that supply Is always sold al a less
profit. Now, that is a rule which applies
70 everything In the world. The bigger the
demand, the larger the supply and tho
lower the price When cotton cloth was
not In much demand you paid So cents for
Il. Now you can get Il FOR five cents yard
Everything works TO that end IN a modern,
civilized world. Now. that is the whole or
II.
Operation OF the Bland Laws.
Let ms see what the fact is. IN 1878 we
went 70 work and bought two million doll
lars worth OF silver a month under the
Bland law Then In 1890 We bought four
million five hundred thousand ounces OF
silver. That IS about all we made m
America. What was the result2 why
there was tremendous Increase OF de-
mand. What was the result? Higher
prlcc2 Why. no. Il went right down. just
as II IL had been lead instead OF silver
Now, ! want TO ask you IN coming the whole
American product. or nearly the whole.
has resulted in lowering the price OF silver.
what VIII coinlng all the rest OF the silver
IN the world dog Isn't that simple arith-
metic? Wen. don't let us have any more
weak alternatives in connection with ibis
Prove something or quit the field. lap
plausel
But, you say. the good farmer VIII be
relieved Wen, all I can say IS, whoever
dimes with Satan had better be very sure
Of all tho specifications for his protection
before he goes into the business. lap
plausol
In the first place. such man. even upon
their own theory, cannot be quite honest
who wants 90 pay his debts at so cents on
the dollar because OF a depreciation which
they claim FOR silver ever since that fated
year 1873 All that they claim for Il ~
drop OF five cents. They say that that
happened IN 20 years, a years. TO be exact.
Wen. now. N there IL a man here whose
debts run hack TO that time. I should like
10 see him. think he has been lucky. and
has the confidence OF the community lAp-
piausc and laughtcr.l on the average there
IS no debt that is three years old Are you
going 10 settle with your creditor ana pay
him ono-quartCr, take ono-quarter OF the
depreciation. or are you going TO take the
whole? II YOU are going 10 take the whole
you are not honest.
Half tho Debts VIII Rcmain.
NOW. am going to say another thing 70
you. Whether you are honest or not. n you
do that sort az thing you will set into
trouble. In this world AZ a whole the priv
ilege OF borrowing IS OF more consequence
than the reputation OF debts. even III you
can do IL honestly. tApplause.l II the
farmer gets rid OF one-half OF his debt he
will still have the other half 20 struggle
WITH and he is going TO struggle with Il
IN Il world that doesn't believe much IN him.
/ Applausc.l In other words, the one-half
that he did not pay comes out OF somebody,
spells somebody elso's business and spoiis
the business OF the whole community, as
l will point out 20 you In few moments
.bsolutcly spells IL. and he has got TO pay
that other half under a disadvantage that
will mako him wish that he had good
prosperous country and was going 10 pay
the whole. IA voice: Louder.l Gentle
men. am doing tho best can. LApplause.l
II say that IL does not pay TO 90 this
thing, because the power or borrowing IS
OF the utmost Importance. Why? You
know there Is vast difference between
drcamland and the world OF fact In a
dreamland every creditor Is a rich man and
every debtor ~ "a poor man. hut ~ the rea!
world that Is not so. The time was when
debt used 20 represent how far behind a
man had gotten I'm this world. To-day IL
represents his belief IA the future. Tap
plausel And some OF your ablest and
strongest men are the men who In times Of
prosperity are carrying tho biggest load OF
debt.
Big Concerns Are borrowers.
Every big institution IN this country IS
IN debt. and when IL is the most prosperous
Il ~ I'm debt tho most Take great COM
pany chat j know OF here. In times OF pros
perity IL borrows 100000 or $4,000. goo In
times or adversely II lends money TO other
people. IL you VIII think moment you
viii see that there Is not an enterprise upon
which civilization Is dependent that IL not
dependent on the borrowing power. What
does the borrowing power depend on? IL
depends Oh the confidence and honesty OF
tho people at large lApplause.l a dis
honest community cannot borrow money
II see that gentleman who figured In
tho Chicago convention for both offices has
allowed himself 10 be interviewed. IN which
interview he said that every man that had
money would lend it--would have TO lend IL
because Il had 10 earn some money.
Now, let us put that 90 plain test
suppose there were I'm this audience
some gentlemen who have got ten dollars
zach, probably several Now. want 20
say 10 each enc OF those gentlemen III a
man came 10 you and wanted TO borrow
that ten dollars, and told you frankly ~
was only going 10 pay you 1--WE dollars.
would you let him have tho money. or
would you let II lie idlc2 But suppose you
thought you would like 60 make a good
turn there. what would you do? The first
thing would be 10 get 90 cents for risk
then you would want about ten per cent
more FOR incidentals, and you would give
him four dollars and take hts note for ten
dollars. lAppause.l OF course you would
lend a. If YOU didn't do that you might
Initiate some senator's and vice presidential
candidates and governors. and make them
give gold note. and so secure yourself
against this prosperity by law