Year: 1878

Englishman, who bought our bonds pre-.
vlous to our betrayal into the destruction
OF silver money, could not have expected
10 use 1t at home except at It's market
value as bullion.


Is our debt, payable In those coun,
tries, changed in its legal and moral OBJ
legations because they or any of them,
have excluded silver from currency there
Tor the advantage they hope to give to
gold Ii England and Germany should
remonetize silver and demonetize gold,
or leave both to fulfill their legitimate
functions as money, the question as to
our policy would not be worthy Of con-
sideratiOn by the bondholder. He
would say : II can use your gold or your
silver at home, and care not which you
pay my debt with.' Or If gold were
demonetized he would cry out: solve
me silver ! 1t is not our policy, but
the policy Of England and Germany,
that has depressed the value of silver.
We have followed their policy with
blind faulty, and I regret to say, even
with vulgar imitation, II not under the
direct influence Of worse motives.


The most consoliDg construction of
our conduct that can be claimed is, that
IL was foolish aping of our rich creditor
by putting on the miserable pretense that
we were able to throw more than half our
money into the sea because he effected 10
disdain the bulky silver dollar as unwor-
thy to fill his treasury, since his treasur>
ers founi 1t troublesome to count. What
better reason exists to justify this crime
a0ainet the caupfruo + haya pau.. ha.,
able TO discover what worse causes led to
it. l scarcely dare to inquire. 1t Is time
that we had ceased these "entangling all
liances" of our financial policy with for
eign powers. That there are depending
and reciprocal relations and mutual in>
terests between us and other commercial
countries, l fully admit and would do
nothing to disturb them but it will i'm
poverish any people TO place their mone>
tary power and their financial system un-
DER the control of foreign country.


This we have done to our discredit and
great distress, and the undoing OF this
wrong to our own people should command
our quickest and most energetic labors.


If we remonetize silver, and give to
that currency as many years to recover its
lost ground as it has been struggling un-
der the ban, it will return TO its natural
supremacy over gold. 1t enjoys this nat
ural supremacy among the largest nuns
ber OF people, because the laboring peoy
pie prefer it. they use it freely and con-
fidiDgly. 1t is their familiar friend, their
boon companion, while gold is guest to
be treated with severest consideration to
be hid in place of security ; not to be
expended in the markets and fairs. 1t Is
a treasure, and not a tool of trade, with
the laboring people. A twenty-dollar
gold>piece is the nucleus of fortune, to
remain hid until some freak of fortune
shall add other prisoners to its cell. But
$50 in silver dimes is the joy of the
household, "the substance of things hope.
ed for, the evidence of things not seen.n
1t Is In the hands OF the laboring poor
that silver will find It's ascendancy over
gold. 1t travels slowly, ana pays many
debts before il gets away from the neigh
borhood and back to the bank. Silver
is to the great arteries of commerce what
the mountain springs are to the rivers.
1t is the stimulant of industry and pro-
duction in the thousands of little fields
of enterprise which in the aggregate
make up the wealth of the nation.


More than one-half of my constitu>
ency prefer silver to any other money.
They are ignorant of all the laws and
problems of finance, in which condi-
ton they deserve the congratulation
OF such as love, peace Of mind.


Where Ignorance is bliss,


IT'S folly to be wise.


They have belief in the intrinsic
value Of silver money which NAV
have its origin in Ignorance, 10 super
stition, or religion, or tradition, but
1t is fixed belief, and they could new
or comprehend or respect the wisdom
OF law which would say to them
that enough silver dollars could not
pay q debt of any size. A dead SILVER
dollar, or six dollars SO dead that they
could not pay a six dollar debt would
be to themthe mos. wonderful and the
most mournful spectacle that could
be conceived of. could never ex-
plain it to them. Indeed could not
quite understand why this should be,
and there are millions of wiser men
than am in the same unfortunate /
category. OF all people in our coun-
try the negroes are most in need of q |
silver currency. l need not enlarge
upon this statement, or undertake to
enforce it further than to state the
Fact that they 30 strongly confide In
silver that they will earn it at almost
my sacrifice of comfort, and will
,heerfully do days hard work for
'orty cents in silver, for which they
would refuse to take fifty cents in
currency. believe that no
boon the Government could confer
ipon them would be of more service
o them than a large silver currency,
Ind that nothing would SO thoroughly
,ure that natural improvidence which
8 the greatest dif Guilty they have to
contend with. The fact and the argu-
nent apply. the world over, to that
1ast body of people who earn their
iaily bread In the sweat of their brows
'As silver dollar for days work" is
maxim of finance easily understood
" the millions who toll to make each


ay clear its own expenses, and it is
eceived with more hearty satisfaction
han the wisest theories of the wisest
nen. They translate the phrase, ian j
onest dollar" by reference solely to
liver money, not to a gold or pa
er dollar. They care not if il Is worn