The herald., 1897-07-06

and you, the financiers who hold our
notes and our mortgages, have profited
as the dollar rose in value" We say
to these financiers that seventy millions
Of people have as much right to pro-
tect themselves from falling prices as
a few financiers have to legislate value
into dollars and the notes which they
hold. We say to them that we have
suffered as long as we will; that we
are going to open our mints to the free
and unlimited coinage of silver as it
existed prior to 1873. We tell them
that we are going to restore the money
of the Constitution of the United
States. We say to them, 1--WE would be
glad to have you help us, and in order
to make it more probable that you Will,
we are going to make it to your ad-
vantage to help us. We are going to
give to our silver equal legal tender
rights with gold. You have made con-
tracts for coin in the United States.
You know that coin means gold and
silver. We will open our mints. We
will give legal tender to our silver, and
then If you conspire to degrade the
value Of silver, we will pay you in that
metal which you yourselves make
cheap, and make 1t to your interest
to join with U.S." [Applause.]
Now, my friends, can there be any
difference among reasonable men as
to which plan will bring foreign aid
soonest? But I must not dwell on
theoretical advantages Of bimetallisn
1 want to say to you that bimetallism
is ecessary-practically necessary.
There are two things that must be
considered in money, just as there are
two things that must be considered
in food, quality and quantity. Suppose
I am hungry and some one says te
me, IT know of a food that is splendid
in quality. I know of food that Ii
the best | Used of all the food among
civilized people. I know Of a foot
that is being struggled for by the very
best people in every community" Ant
I say. "All righ, I would like to have
some of that food" I am convinced
that it Is all right and I am hungry
Suppose the man should say to me
"Well, while this food is excellent, II
quality, there is none of it for YOU
I would die of starvation with the
praise of the quality of the food ring
ing in my ears; and so, my friends
there must be quantity as well a!
quality Of money. You tell me thai
gold Is good, tell me that the nation!
are struggling for it, tell me that civil
lied nations idealize it. I tell you tha
I need some of it. 1t is no satisfaction
to have you tell me that while gold il
good cannot get any of it.
nish the basis of the worlds money
If man invites you to eat at hi
house, you don't ask him if he has
anything to eat. You take. it fol
granted that he would not invite yoI
unless he had the food but 10, vol
cannot go on this presumption wher
you are dealing with the defense O
the gold standard. They invite you t.
banquet at the board of gold ant
iS IN fol fn
to eat when you get there. There Il
not the quantity of gold to furnish
the basis of the worlds money. Tht
value of a dollar depends upon the
number of dollars. If you make dol
lars scarce. you make dollars dear.
TEST OF THE DOLLAR.
MY friends, I told you that the test
of a dollar was in its purchasing
power. and that that dollar was best
whose purchasing power was most sta
BILE. To use an oft-repeated illustra-
ton, let me say to you that the test
OF a balloon is in its rising quality
That balloon is best which rises hiyh-
est and stays UP longest. We have
been having instead of an honest dol
lar, dollar that can be more fully de-
scribed as balloon dollar The balloon
dollar has kept going higher and higher
The balloon dollar is a good thing fo1
the financiers who are in the balloon
but it is bad thing for the people who
are on the ground, and who are watch.
1t as it gets farther and farther out Oh
their reach. GADDlause.1 We want tc
bring the dollar back to earth again
We want dollar which instead OF
soaring above the people will circulate
among the people. We want a dollar
which will furnish a just standard of
deferred payments. The gold dollar has
a G q n ard nf dnfa
and "hope deferred maketh the heart
sick''
I want to make this subject so plain
that no one in this audience need doubt
where his interests are. I never
claimed to be precocious child: never
supposed that 1 knew things earlier
than other children, and yet, my
friends, I think I can admit in your
presence without being accused of
egotism, that as I look back over my
childhood days, I cannot recall the time
when 1 was so young that I didn't
have sense enough to know that when
one end of a teter-board went up the
other went down. Laughter and ap-
plause.1 The money question is just that
simple. Money! is on one end of the
teter-board; property on the other.
When money goes up property goes
down. Dollars can't buy more unless
property sells for less. If you tell me
yOu Will d. uOlldI OI the klTSeSC Dur
chasing power, L tell you YOU want
property Of the lowest price. You can't
have dollars dear and property dear at
the same time. except in this sense
that no matter how cheap property is,
it will be cheaper still, and therefore
1t is now dear as long as it rises in
value. My friends, want to make this
project so plain to YOU that you will
not only understand the effect of 1egis-
lation on the money question, but you
will understand who is interested in
the gold standard, and why he is in
terested. Is there any reason why the
interest of the people should be con-
cealed? Suppose a witness goes on
the stand. He is going to assist in the
adjustment Of the equities of law
suit. He is sworn to tell the truth.
The very moment he is turned over to
say Are you a relative of the person
for whom you are testifying? Have
you any interest in the result of this
trial?" The man is compelled to testify
under oath whether he has any inter-
est, direct or indirect, near or remote,
which would affect his testimony. Why
not understand where the people stand
in relation to the money question
SUFFER OR PROFIT.
Why not understand whether they suf-
cial policy? I want to SO illustrate it
that you will not only know the effect
of legislation on the money ques-
tion, but want to make it SO
plain that you can walk along the
streets and pick out the advocates
OF the gold standard and not only
1a1f ~, II Il