Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-26
BAILEY SPEAKS HERE
CONTINUED FROM FIRST pAeEo

|
suppose 1 say, / am going to put In
5000 In cash, and carry $4,000 worth OF
stock Then that man would not loan
me enough to pay the freight on The
STOCK He would say, i cannot accom-
J modate you on such basis as that lie
! would say no living man could do that
|, would say Mr.. President. you are be-
hind the times; you have not been read
ing the gold-standard speeches. II YOU
mad, you would have learned that in this
age or high civilization. men do not need
money. but all they need is credit, and
! am going 10 run my business that way
! tApplause.)
FOOLISH DOCTRINE ADVANCED.
| ~. There never was in al the history OF
the world advanced a more foolish doc
trlne than that advanced by our adj
| Versarles. Invite the people to transact
! thelr business on a credit and tell them
mat IL Is safe? Run over in your mind
| the panics OF the world and see how they
have all been productivity using too
Inuch credit and too little cash. Apply IL
10 your neighbors and yourselves. Did
| you ever see one OF your neighbors who
used all credit, and no cash, free from
the pursuit or the sheriff? Confidence Is
n very excellent thing, but confidence re-
poses on cash IN the business transac-
lions of this world.
HAVE CONFIDENCE WITH MONEY.
"As long as / have my pockets full Of
| money everybody has confidence in my
ability to pay II. With plenty Of money
confidence is around me, confidence Is In
'front.' OF me, confidence Is behind me,
but the moment my money begins to go
| confidence begins to 90. and before have
reached the bottom Of my pocket his
! poasted confidence has taken the wings
| of the morning and flown to the outer
/ most parts of the earth 1t is this conf
| dence that destroys all business enter
prises. / am one of those old-fashioned
men, not ashamed to take my place by
the sides Of those who thought in the
early days Of this republic that II was
specie the people needed, and not bank
notes. That Is the contest to-day. The
people who own the banks don't want 70
use both gold and silver. II Is easy for
gold man to persuade himself that what
ever helps him is bound TO help the
country. That is one Of the infirmities
Of human nature Oaughter)
Now, my fellow-citizens, against their
system we propose TO give the people
money-gOld and silver money. They say
you are going to give us cheap money
Well, cheap money is better than none at
all. What do they mean by saying we
are going to give them cheap money! All
the arguments they make depend upon
that single allegation. You hear them
say many absurd things and many con-
Trajectory things. / have seen them come
down the street and meet man on one
corner, and tell him that this whole agl-
tation is a gigantic thing 90 give the
silVer-mine owner a chance to take 80
cents worth of silver and make It worth
100 cents. They tell one man we are 60
ing to take 30 cents and make q dollar,
and then they tell the laboring man that
they are going to be paid off in a 50-cent
dollar. And when they tell these things
to the people they believe them, because
the man who will vote the Republican
ticket will believe anything.
THE CHEAPNEsS OF MONEY.
what do they mean by saying we are
n q phpanY They
must mean we are going TO make II too
plentiful, because nothing ever did be
come cheap in the history OF The world
until il became too plentiful. Therefore,
they mean we are going TO make money
too plentiful. Have any of you any fear
of that? My anxiety is not that you viii
have too much but that you will not have
enough. My fear is not that you Will
have more than you want but that you
will not have as much as you need. Inc
gold-standard man could take the has
tory of the world, and he can search 1t
as far back as the time of Father Adam,
he could go back until authentic history
lost itself In the twilight OF myth ana
fable, and he could not find "a single In
stance when any nation ever had TOO
much gold and silver money. III he can
find Il single one, l viii admit that our
position can be fraught with danger. /
have no apprehension that what has not
happened in the centuries that have gone
is apt to happen in the centuries Whch
are to come. And yet, II ne cannot hhu
where other nations have had too much
metallic money, while will he insist that
this nation is going to have IT? Some OF
them say that the trouble with gold ana
silver is that II is inconvenient TO carry
much of IT, Now, fellOw-citizens, l would
rather be loaded down with 1t, than 10 De
starving for the want of H. applause
The inconvenience of carrying money Is
not half so great as being without IL
But we have devised system Wmch us
penses with all Of that inconvenience III
you don't want TO carry II with YOU you
can carry the representative or IL. You
can send Il TO Washington, and they VIII
issue you a certificates certihcate thal
there have teen deposited gwen num-
her Of silver dollars payable TO the bearer
on demand. That silver is kept there,
and will be kept there through an the
changes of politics. 1t Is there 70 re-
deem that certificate, and knowing that II
is there. that certificate Is as good as the
silver dollars; because as II passes ,., aroi,
hand. if you will permit me TO borrow
quotation from Bob lngersou Ut Is the
only thing he ever said worth repeating)
that certificate can look man In the
face and say. I know that my redeemer
liveth.' (Applause)
MAKES MONEY TOO HIGH.
Gan such arguments are irrelevant and
stale They are not inconVenleht 10 cally'
and so we come back to the final ques-
tom will they be too cheap My gold
standard friend. l will make you thls
proposition: / will agree TO never AGAIN
inter- a syllable upon this question II
cannot proye that the real curse or the
GOLD standard is that 1t makes money 100
high. And there is no other opJectlon 10
il EXCEPT that If the gold standard does
not make money too high, then no man
can successfully assail IT, Our solu-
standard friends seem to understand per-
fectly well that il is an evil TO MAKE
money TOO cheap. but they seem 10 nave
learned only half of their lesson Ihey
renresent one extreme of this question.
YOU will find on one corner OF your street
the fiatist uttering denunciatlon against
high money. and on the other corner you
will find the gold-standard advocate ue-
nouncing cheap money. Each man
has embraced only half OF the
truth. which is on our side. Between
these two great extremes is the great ana
conservative body of the Democratic
Marty denouncing alike the high money
Of the gold standard and the cheap money
of the irredeemable paper system. we
are advocating a dollar, not 100 chsap
and not too high, but a dollar OF stable
vaiue They say they are the advocates
of honest money, and yet we drive them
10 an admission that gold Is TOO
high. They say we are the adVo-
cafes of dishonest money, ana
vet we can prove that we can preserve
he stability of the dollar by using both
LA end silver. | am an advocate of an
5onest dollar and differ with them only
abont what constitutes an honest dollar.
'Tbev have two answers and they always
make one or the other. They Will say
hat an honest dollar is made OUT OF
,,,eterial worth as much before IL is COM
ed as after II is coined. III that De true.
nil nledee my word i can make an
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