The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-09-03

NlllluS W luuht tHtIl buHON iNpiN'NiA ~
what they mean as the fnanciers, the
trusts and the syndicates are. to make
their ballot represent what they want
and what they need. (Applause0
Let me read little further from Mr..
Carlisle-what he says of that bill:
But it will reverse the grinding process
that has been going on for the last few
years Aye. away back eighteen years
| ago he spoke of this grinding process to
call it Il temporary embarrassment. Cap
pause) He said: Instead of constant
and relentless depreciation of property
that is what we have Seen-constant
of property-he said: Instead of these
we will have expansion to the extent of
| doubtless S2,OO0,OO0 per month under its
| influence Now what is going to be
next: Mr.. Carlisle knew in 1878. He
said: Under its influence the exchange
able value and the commodities, includ-
ing labor, will soon begin to rise That
is what he said in 1878. But what will
| be the effect of it?
/ Thus inviting Investments, infusing
| life into the industries Of the country and
| Quickening the pulsatiOns of trade i'll all
its departments. He understood the
laws of finance. He understood what
was the effect of adding this money to
stated the truth then. that truth has not
changed since then, nor can 1t be chang
| ed. though every one who spoke for it
! should turn his back upon it. (Applause.)
! Truth lives. 1t is the one thing that
will not die. l quote these words to you
to show you that by the increase of the
volume of money we expect to stop the
constant appreciation of money and the
| constant depreciation of property. There
4
ey and the owner and producer of prop
erty. Suppose man in this community
finds some young woman who is willing
| to trust her future to his strong right
| arm, and they start out to build Il home.
! Not having enough money. they take
what they have saved together and buy
Il farm, paying $1,000 down and giving a
mortgage for the other $1,000. And
what is the result? Suppose money
rises in value. Suppose you take Il no.
! ton you want good dollar, Il high
priced dollar. dollar that keeps getting
| higher priced each day. Suppose that
you have dollar that gets to be twice
as good as it was when the mOrtga gor
! gave the mortgage. 1t means that dol
lar will buy twice as much. 1t means it
will take twice as much of the products
of the farm to pay his debt as it did be-
fore. What is the result: 1t is that
while it requires twice as much of the
products of the farm to pay the interest
and twice as much to pay the debt the
man finds he is not able TO pay that debt
as he agreed to. What then: You say.
extend the mortgage. Why. they tell
! him that the farm has gone down in val
ne. He can turn the farm over to the
man who holds the mortgage. That he
can always do. What is the result! He
and his wife have lost the $1,000 they in
vested in the farm. They have lost the
labor they have put forth in trying to
pay the mOrtgage.and they lose the farm
| and start out in life again. How about
the other man who sold him the farm
and got the $1,000 down. If he loaned
that thousand dollars he got security for
| his thousand dollars, and he has the
| thousand dollars in his reach, and then
he gets his farm back. | ask if there is
any difference between the holder of cap
| ital and the owner of property i'll the ap-
probation of the dollar. The man with
money is twice as well as he was before.
and the man who tried TO own property
| loses all he has and has to begin again.
You find the man who holds the notes
meeting in convention and declaring the
gold standard is the best system of mon
ry that was ever invented. But viii
! those people who have lost their home
will they meet together and endorse the
system that is destroying them? My
| friends this is a practical question that
confronts the farmers of the United
! States. and not the United States alone,
| hut the farmers of Ireland, the farmers
! of England, the farmers of Germany.
and the farmers of every nation in the
world that has the gold standard today.
Nov. | want to say to you that my de-
nunciation of the gold standard is sus-
| tninel by events Let me give YOU Il
proof If man tells you the gold STAN
| lard is a good thing. you ask him why it
| is that 10 party has ever declared for Il
gold standard in its platform. Is it not
strange if the gold standard is Il good
thing that no party has ever said so in
| platform? And that is true. 1t is true
| that no national party has ever endorsed
a gold standard. and yet there are people
who favor it. Why don't they have the
courage to write a platform and risk an
! opinion Of the people!
My friends. civilization is wrapped
up in the solution of the money question.
1t is the main question involved in this
issue. The right of self government
and the existence of republican institu-
tionS is involved in it. Ii foreign ma
tons can force Il financial policy upon
| the American people they will want to
enforce the system of government which
| II Tue bllN - Sbtll lll'N Nii lll'lliN''ll Il
system which is monarchial system
and which maintains itself 10y standing
armies.
Now. NY friends when we speak out
against unjust legislation they we are
| disturbcrS of the public peace and
menace to law and order. Do you
think the laborers congregated here are
enemies to our country? No. they have
earned the epithet from our opponents
because they say Thou shall not steal
shall apply 10 the great corporation rs
well as to the burglar and hishwaymau
1t is because they say this government
was not instituted in order that its in
| strumentalitics should he monopolized
by those who used the government for
their own end and put it in distress.
(Applause0
But l can not talk longer Cries of
go on.) No. l have to get back and
speak again tonight. | would like To
speak to you further until | could say
many things which in my Judgment are
worthy of your consideration. but |
shall have, done well if l could impress
upon YOU the importance of studyinr this