The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-25
DEMOCRATS TO BANQUET


! Continued from Second Page.
the country. The one was first represented
! by Ihomas Jefferson, the other Alexander
TAUNTON; the one is represented today by
publican party: Great appIause.) Under Re
puDhcah organization in the last thirty years
the most marvellous changes have occurred
IN conditions of the American people. For
tunes beyond the dreams of ayarice have been
amassed in the hands of the few and it
mas been derived from the millions of the
instructions to earn their bread by the
sweat of their brow The rich have grown
T Gnast ana the Door have grown poorer
IN the cartoon in the paper this afternoon
when the gentleman has spoken Of, l am
t charged with having said that there was
my goods in this market Before 1 get
through with this will ask you whether the
conc OF prosperity are such as to pre-
vent any man undertaking to dispose of such
a cargo here. Great applause.)
me one condition which has repeatedly
fUnlrontea TED. the result of labor for the last
twenty -HVe years has been that one spectre
| of fallen prices. When man has sown his
| crop II Is not worth much when he has
E re So II as Is he expected it would be when
ne soWee ~; When he has begun work
| or any sort he does not know that it will be
| worth as much when he has finished it is
the word WGd be- In the history
by political economists, those who have
| written In favor of the few and as against
S-AN Aiit'S~o, oliu NlCa versa, nave reached the
same same conclusion; that the rich have gown
Ticher at the expense Of the masses. This
eostlnction Is clearly understood by political
| economists everywhere What causes fallen
prices? When there is marvellous pro
auco-on of any particular thing the price
Ior mat goes down. When there is a short
mand regulate value. Wheat NAV be pro-
duced enormously beyond the demand of the
ll mar It VIII become cheap; the same thing
| with cotton, and everything else But one
| in
prices everywhere, and that thing is the
uo1udne OF money. Great applause.) When
are high, products will buy more money when
IT is abundant than when not, and the reverse
ii a;., tme eoh S1i Now We have had
present time Political economists have have d dae
vised half-dozen different explanations but
win the same result. They have agreed that
1873 until now We propose to change apea that
our idea Of changing it was to increase the
r rHtblhe OF money. to restore to silver its
history OF civilization has been money until
the act of 1873. Great applause.)
Let me illustrate this matter of falling
paper pa fao, L say. saw a Statement made in the end
OF 1894. that there had been a fall of about
III per cent In general prices in the twelve
months preceding it. fall of 10 per cent
IN prices In as many months Take as an
Illustration two men with $4,000 EACH One
oil cItI them prop proposes to do the part of good
|
ness. He looks around and invests his money
IN property The other, emulating that man
VINO IS characterized in the Book as being a
wicked and slothful servant, refuses to in
vest MS money in business but wraps it in
a napkin and buries it in the ground, At
Inc END OF the twelve months the man who
decline Of 10 per cent in value. His prop
erty has shrunken 10 per cent in value BY
me tne operauon of economic laws which have
been characterized as being wicked and
slothful servant, digs his $4,000 up, ana it
viii buy $1,000 more than it would have
bought when he buried It, He has made 10
Per cent interest for being wicked and
slothful servant Great applause.) We do
not believe that is a correct thing to do Sup
pose that man. instead of burying his money,
had loaned 1t to somebody else at 6 per cent
interest. Let me illustrate. When you sell
horse you part with the property When
you hlre horse, you do not part with the
property; II there Is increase in its value
while it Is hired to some other man you get
the benefit of the raise. 1t is the same with
money. The man who buys property with
his money parts with it. It is gone. But a
man who loans his money holds his money
TO TO use a vulgar phrase, he has String
TO 1t yet 1t Is to come back at the end of
| the term augmented by interest.
Now If the money had been loaned instead
OF buried at 6 per cent at the end Of the term
he, would have been sure to have taken
ample collateral security. He would not only
have taken mortgage on the property
bought by the $4,000, but would also have
would have had the increase in the value of
the money that came by it's raising in value
the lo per cent-but also the per cent inter-
est; that is he would have gotten 16 per cent.
That Is the reason why in a time Of falling
prices everybody is seeking an opportunity to
put their money in bond. They don't want to
let the money pass from them or their con-
troll. It is better to put it into bond than to
bury 1t. But If they can't invest it in bond
| they bury 1t in their safes rather than huv
property. This accounts for the Issue Of more
and hry,d do nd
political parties In this country taking every
opportunity to issue more bonds
Now, II l give my note for $10o. and you
write in $25, making the obligation SIPS, that
is forgery and the law will send You to pris.
| on for it. But when corrupt political party
makes such changes in the laws as will
change my obligation and increase so Day
| Sl25 where owed you 500, then you are a
! fnancier an honest man and man who pro-
tests against that Is called an anarchist and
silver lunatic. Great applause.)
| When the war closed between the sections
| Of the country the government owed about
two billion eight hundred million dollars
We have paid the interest on that debt from
two billion six hundred million dollars. We
have paid as principal on that debt, until
We have reduced it nominally to less than
| half what it was when the war closed, and
yet measured in any Of the great comnodi-
ties of this country, 1t will take as much
wheat or cotton to pay 1t now az it would
10 Pay tns yhH Ss Of it &
have not taken their bonds and written on
| the face of the bonds obligation to cay
twice the money that would have paid it
then, but they have manipulated the legis-
| lature until they have brought about the
same results. And they considered them
selves the embodiment of all the holiness
| rascality. Great applause.)
In 1896 convention met in Chicago which
I believe will be known to the future as enc
| of the grandest bodies of men that ever as
sembled on this continent. Great applause
| Those men selected leader the man to
whose name the POSTMASTER has asked re to
| respond, to lead them In the campaign of
1896. We set about changing these hard
ending, grinding extortion. which comes from
| never-ceasing falling in prices We propose
to change by increasing the volume Of
money.
lenge s the proposition we made. In their
platform made in St. Louis they declared
they were going to bring about bimetallism
by International agreement They were, not
alone The 70000Go Independent spirits in
this country, transacting as much business
as all the rest Of the world together, didn't
have enough brain or Drawn to plan this re-
suit. They proposed to accomplish It some
! time, perhaps, by International agreement.
! During that campaign, that silver-tongued
all listened to- who was in his soul bimetal-
list-Ben Butterworth- he was engaged
in making Republican speeches in this sec
ton 1 CHANGED to have conversation with
metallist; why are YOU around making cam
paign speeches? I want to know how in the
name OF all that is good you can hope to
champion bimetallism in this way" He
| said: at ia true l am a bimetallist, but I
believe by the election of the Republican
party the cause Of bimetallism can be better
advanced than in any other way" He spoke
but he has gone to his final account. But