Coin at School in Finance
BY
George E. Roberts.
I
FIRST EXTRACT.
A country merchant or two , three or four
farmers , a carpenter , a brick layer , a loco
motive engineer , and several traveling sales
men were sitting In the depot hotel at Eagle
evening In the spring of 1893.
Grove , la. , ono
They had been talking about business , the
crop outlook , the weather , and prices , when
remarked that according
ono of the traveling men
cording to "Coin" there was but one way In
which prices could go. and that was down
ward.
"How's that ? " asked one ot the farmers.
"Tho demonetization of silver compels It , "
said the traveling man. "Prices of all our
commolltlw arc measured In gold alone now ,
Instead of In gold and silver , and that forces
a shrinkage In prices. It has been going on
slnco 1873 , and must continue until silver Is
restored to free coinage. "
"When did Coin say this ? "
"Ho explained It fully in the school he
conducted in Chicago last year. "
"I got considerably mixed up over all those
arguments on the silver question , " said the
farmer. "They are bewildering. I don't
have any theory on the subject , and keep out
of arguments over their theories. But I have
been farming here In Wright county for
twenty-five , years , anJ , unless Mr. Coin has
been farming hero , too , he can't tell mo
anything about the prices of cattle , hogs and
grain that. I don't already know. I have Just
sold a carload of stco-s. which had
boon on full feed seventy-five days ,
nt B cents per pound , and
that was more than I could get for .cattle
last summer'vrhon _ Coin was teaching' that
prices must gojlower , or In 1873 , before ( ho
'
'crime' he tells'nbout was committed. " <
"But , " said the traveling man , "Isn't that
caused by a shortage of fat cattle this spring ?
The price will probably go back. "
"Perhaps so , " said the farmer. "I don't
know what It wll.do. | I am not much given
to theories. But It Is evident to me that an
abundance of cattle on the market causes
a decline , and that n scarcity causes nn ad-
vnce , I don't see how It can work one way
without working the other. Do you claim
that the advancc-s are caused by scarcity ,
nnd the declines by gold ? "
"I don't make any claims about It , " said
the traveling man. "But 1 have read Coin's
vlcwn and they seem plausible. In fact 1
haven't been nblo to see why ho Isn't right.
But I will admit , of course , that the declines
In cattle since 1873 , as well as the advances ,
may have been caused by supply and demand.
If nothing had declined but cattle , no other
cause would bo looked for. but Coin shows
that all products have declined correspond
ingly , and argue * that there must bo some
general reason for It. "
NO mCCLIND IN FARM PRICES.
"There has been no general decline In farm
products In the west since 1873 , " said the
farmer. "Why the man don't know what ho
la talking about. We burned corn for fuel
In Iowa In the winter ot 1S72-3 , the price was
so low. Fat steers didn't bring us over 3
or \ cents. Hogs ( I Bold my hogs last week
at 4& cents ) were about 3 cents ; and while
wo are talking. I'll tell what I did in the
fifties : I hauled my dressed hogs from Fort
Oodte to Dubuque , 108 miles , and sold them
at $1.50 per hundred weight. UresseO
weight , mind you , and I got $4.50 live weight
last week. And that was before tills mon
keying with silver that Mr. Cnln says has
made prices low. I sold my oats In January ,
1873 , at 17 cents a bushel worth 23 cents
now. "
"How about wheat ? "
"Wheat was worth In 1873 from 60 cents
to SO cents a bushel. And , Lord , what a Jot :
it was to harvest It ! I had n reaper thai
cost mo J175. It was a self rake , and t
great Improvement on the hand rake ma.
chines wo had been using , but It took ssver
men with that machine to do as much worli
as one man cm do now with a tvlf-blnOci
which costs J135. No wonder wheat is lower
When they spread railroads over the Dakotis
Nebraska , Kansas and Texas , and shippec
felt-binders In by the train load , wheat rals.
Ing ceawil to be farming and became innnu
facturlng. They turn out wheat like they d <
lumber and Iron. There was money In It foi
awhile. Why. ten years ago pretty nearlj
all the farms a r on ml here wore for sale , am
I reckon not less than 100 farmer ? did g <
from this county to Dakota to got home
steads and raise wheat. They went Just tin
same from every county In the state , am
from all thu western tHates , and the rail
roads had agents In Europe working up Im
migration. There was no country like Da
kota then. It was Just like finding mone ;
to ralte wheat on new soil at jl.OO ps
bushel. You ought to see thu towns the ;
built out there. "
"I know about them , " said the travellnj
man , "they did build up tome splendid town
In the Dakotas. as by magic. "
"Well , this was all a dozen year
after the silver legislation complalnei
of. Now , I am not much 01
theories' but I have noticed that wheneve
there was a big boom In any business I
was only a question of .time until some
thing dropped. These boom * never gu o
forever , and ' the wheat boom played on
like the rest. There was too much mone
In It to last , Russia , India and Sout
America came Into It , and Immense stock
were piled up which broke the market. W
itou't ralio any wheat In Wright county t
speak of. Some of us raise enough to brea
us , but more don't even do that. By an
by wheat raising may round up to a fair Icv <
with other cropj , and then we will prot
Ably da more ot it. "
MORTGAGES ARE PAID OFF.
"I am Interested In what you say , " sal
the traveling man , "but are you sure of you
facts ? It Isn't Coin alone who fays that th
prices of farm products have generally di
cllncd since 1873. The statement has be *
m commonly made that It In generally at
copied. The speeches lu congress show I
The statistics of our exports show It , An
how. is It about debts T Does a farmer eve
pay off a mortgage ? Doesn't It take * ever
cent he can make to keep up the Interest
Ami are not farms fultng off lu value ? "
"I guess your territory has been In som
oth r part of the country. You can't hav
traveled much in Iowa during the hit flv
years. I bought my land In 1870 at } 3 PC
CM. The sam kind ot raw prairie U wort
! 30 per acre now. I mode a small payment
lown and paid 10 per cent Interest on the
jalance. Seven per cent Is now the outside
rate for farm loans. I will confess that 1
have not yet paid off the mortgage that 1
nit on my farm when I bought It , but when
i man can borrow money at 7 per cant and
buy land that Joins him which ho knows will
loublp In value In a few years and give good
crops In the meantime It is mighty hard tc
keep from spreading out. My boys will be
wanting land In a few years. My mortgagi
Isn't worrying me any. It Is aclear ab
surdity to claim that a mortgage on ar
Iowa farm , given In 1873 , Is more burdensomi
now than then. "
"But all of the farmers have not been buy
ing man , who had taken no part In
the conversation. "I think a largo
L < hare of the reduction In prices ot farm
products and commodities which are sold at a
distance from the place of production has
come out of railroads and middlemen. I was
In the Hour business In Boston all through
the rcventlos. We were commission men
and f.-olil to Jobbers , and they to retailors.
We made a good thing , and as for them , well
It took over $1 per barrel to pay the
profits between us and the consumer. In
18S5 we wore cut out , and the mills estab
lished agencies to sell direct to retailers on
a commission of 10 cents per barrel. But
that system , too , has gone now , and traveling
salesmen all sell direct to the retailer. "
. "The retailer's profits are not what they
were , " said cno of the merchants who had
been listening. "My observation after sellIng -
Ing goods to farmers for twenty-five years le
that their relative position has bspn greatly
Improved. While there have been fluctua
tions in the prices ot their various products
since 1873 , there has been no general reduc
tion upon the market , while they have been
great gainers by the Improvement of their
Implements and the reduction In the cost of
all they buy. Meantime their 'plant , ' If you
may call the farm by the name a manufac
turer gives his property , has advanced In
value , until the owner of a quarter section
i farm 10 an Independent man. But the merchant -
' chant has to figure closer every year to get
' any profit on staple goods. "
J " 1 am glad to hear this talk , " said another
, farmer , breaking In. "I have been Joining
> all the granges and alliances that came my
> way just to light the railroads and mlddlc-
> men. You can't make me believe the country -
* try Is going to the dogs , bccaueo railroad
rates and the middlemen's profits are coming
down. That Is what the producers want.
Every dollar lost to the middlemen , the
traders and the transporters Is saved to the
producers and consumers. Show me where
a man gets lest' wages today for any class
of labor than he got twenty-five years ago ,
and I will protest with you against ths low
prlcas which require It. I believe. In good
wages to laboring men , but I don't believe
In a dollar profit on a barrel of flour. It Is
the staff of life. It ought to go to the
mechanic ? and working people of the world
without any such tax to the middlemen. I
wish wheat was worth a little more money
to the farmers , but I am glad flour has
fallen more than wheat. Labor is the main
thing to watch. If there Is any decline In
THE VALUE OF CORN IN 1872.
Ing more land , 'spreading out , ' as you call i
It , " salrt the traveling man.
"All the farms are not mortgaged , " said
the farmer. "The census shows that In 1800
2,255,789 families In the United States were
living on their own oinlncumbered farms ,
while only 880,957 families living on their
own farms were under mortgages. The pro
portion In our western states Is larger , of
course , because most of our western farmers
began , ns a rule , with llttlo or nothing. "
"I should say they'did , " said Mr. L , S.
Coffin , a well known farmer and stock
breeder of Iowa. "Nine-tenths ot the farm
ers In these western states began life as 1
did , as a hired hand ; saved enough money
to buy a team , got trusted for a plow , be
came a renter , then bought land on time , nnd
had to make all Improvements and stock It
out of the earnings ot the farm. A man In
any business under such conditions see ? hard
times when bad years strike him. But I get
so tired of having farm mortgages thrown up
to mo that I carry a census bulletin around ,
with me to show what our farm mortgages
are given for. Here Is the summary for
Crawford county , Iowa , which Is only a sam
ple county of our western states :
Per cent of
Object of Indebtedness. total nmt.
Purchase money Cl.ll
Improvements 10.29
I'urchnsi1 and Improvements 9.fit
Improvements nnd farm stock 1.87
To buy nioro land 1.1 > 7
Outside business 4.45
Fnttn expenses and property 2.85
Knrm and fnmlly expenses 1.12
Purchase , farm expense and property .07
Purchase and other objects , 50
Improvements nnd oilier objects 48
All other objects 1.87
Total 100.00
"But , Mr. Coffin , " said the traveling man ,
"all farmers nro not ns well satisfied with
their business ns you are. Many think they
do not got sufficient pay for tholr work. "
"The question Just now , " Bald Mr. Coffin ,
"Is whether the farmer has been Injured
by certain legislation concerning silver. I
never Knew ol a time when there was. not n
good deal of hard work about farming , or
when the returns from year to year did not
seem pretty small. The fact 13 that farming
Is not a business to get rich In. It Is a
business , though , In which steady work
from year to year , with fair management. Is
certain to give a home and n
competence for old age. I have
noticed that n business that makes
people rich rapidly Is generally making others
poor Just as fast. 1 have been up and down
the world a good deal and have never yet
found a business In which the returns were
both sure and large. "
"Amen. " said a Methodist brother on a
front seat.
"I appreciate the force of that. " said the
traveling man. I see so much of t'.ie ' worries
and competition of trada that I can under
stand some advantages In a farmer's lot
better than ho can himself. But I don't
understand this disagreement over prices. "
RAILROAD PROGRESS SINCE 1873.
"It iccmi to me , " said the locomotive en-
glneo' . who had been listening attentively
but silently , "that a good many of these eta-
tli'tlca which you refer to have been ren
dered worthless by the reduction In the cost
of transportation since 1S73. I am a railroad
man , and I know there has been a great ad
vance In railroading slnco 1873. The road
beds are better , the tracks are bettor , the
cars are larger , the engines draw greater
loads , and there has been a great gain In the
volume of business. The statistics of export
prices nt New York are no criterion by
1 ' which to compare a western farmer's In"
come then nnd now , The price of farm
products may have been very much higher
In New York City In 1873 than now , and
yet have yielded no more to the farmer.
Freight charges hnvo been greatly reduced.
Only the other day I was looking over the
statistical abstract for 1893 , published by
the Treasuery department , and noticed the
difference between the rates per ton pel
mile received by the Now York Central ,
Chicago & Northwestern and other trunk
lines In 1873 and In 1892. Here IB tbe memo
randum I made : Now York Central In 1873 ,
1.57 cents ; In 1892 , .70 cent. Chicago &
Northwestern In 1873 , 2.35 ; In 1892 , 1.42 ,
Chicago , Rock Uland & Pacific In 1873 , 2.29 ;
In 1SU2. 1.17 , Chlcaco , Milwaukee & St ,
Paul lu 1S73 , 2.50 ; In 1892 , 1.39. The only
accurate way to compare a farmer's condi
tion then and now la by comparing the
prices of the local market where he sells. "
"That Is true , " said Another travel'
farming returns , and there may be In some
parts of the country , though not
here , they fall on the farmer as
an employer and land owner rather
than on him as n laborer , for farm labor cost !
more now than formerly.
THE GOOD OLD DAYS.
"When I started out as a farm hand Ir
York state I got $7 per month , and I can'i
hire one today for less than $20 per month
and some of my neighbors have become sc
discouraged about getting help at any price
that they have quit farming. Farm labor bj
the month has been higher during the lasl
five years than I ever knew It before , and tin
fact that It Is harder to get I take as proa :
that labor has also been advancing in othei
occupations. My brother down In Massa
chusetts writes mo that they can't get an )
good hired help. All go Into the towns ti
work. "
"When I came to this country In 1848 , '
said another farmer In the room , " | 9 and $11
per month were the common wages for i
farm hand In the eastern states , and miles :
ho 'could milk he couldn't get that. "
"In 1858 , " spoke up another farmer , " . '
worked through the season on an Illlnol
farm nt $12 per month. "
"In 1868 , " said another gentleman present
"I came to Clayton county , Iowa , and workei
that summer as a farm hand at $18 pe :
month , I remember that In harvest 1 bourn
wheat behind a McCormlck reaper. Ono mai
drove , another raked , two were shocking am
five binding. Now n self-binder with drive
cuts , binds and gathers the bundles , nnd on' '
man does the shocking. Nearly everythlni
that n laboring man bought cost twice wha
It does now , for war prices were then ruling
Farm labor has been higher than tha
through the summer months of late years.
"As to lands falling in value , " resume1
the previous speaker , "this gentleman Is ii
the wrong part of the country to find supper
for that theory. They have fallen in valu
In the catt and advanced In value here. I
has been simply a leveling process. Th
farm I was on In York state can be bough
cheaper than when I left there. But there 1
nothing strange about It. These lands ar
fresh and rich and cheap , with railroad
building all over the west and rates comln
down ; this productive soil has como Into USE
nnd Its competition tells against soils tha
have been In use for several generations
The new cotton lands in Texas , where eve :
last year's crop was profitable , are doing th
same thing for the old cotton lands of th
south. Such equalization of values Is to b
expected and could not be avoided under an
system of money. "
"I know something , too , about the fluetua
tlons ot the cattle market. It Is true , a
my neighbor has told you , that cattle wer
lower In Iowa In 1873 than now. The dc
cllne In cattle from 1885 was a decline fret
a higher level than was reached In any c
the ' 70s. Cattle advanced In 1879 and earl
' 80s. The ranchmen of the plains were I
their glory ten years after the act of 187 ;
J10 month , busy aeason , In the fifties , to
farm Hand. If he could milk.
Cow and calf stock then found a mark
westward from Iowa. Those ranches brol
the cattle market down. The boom , as usu :
was followed by a smash. There Is nothli
that I can see In the boom of 1880 , or tl
decline following , that can be connected wt
the silver legislation of 1873. "
"This view of the situation Is a eurprl
to me , " said the. traveling man who h
begun the discussion. "The governor of t
state of Illinois ought to know somethii
ot the condition of the west , and he sa
that all property baa been made cheap , a :
that tha purchasing power ot the product !
clmes has been destroyed. "
"A man who denies that the purchasli
power ot farmers in the west has Increas
since 1873 Is absurdly In error. " put In n
man new In Uiejtlebnte. "He must bo mak
ing facts to fib his theories. I sell agricul
tural Implements"nnd ! I tell you that the
financial condition , ot western farmers has
enormously Improved In the last ten years.
They are notfhs ) a class , the safest people
In the world to sell goods or loan money to.
I am buying-buggies and carriages by the
carload to sell to them , whlla In 1873 It
was very undsubr'to ' sell a. top buggy to a
farmer. ThoibImplements are vastly su
perior to wha , they were In 1873 , and cost
not over half as much. A reaper that cost
In 1873 nbouta$176' Is sold now nt $70. Self-
binding harvesters did not come Into use
until several years later , when they were
sold at about ' $326 ; n better machine sells
now at $135. i.OJuwcrs sold then at $100 , now
at $10. " . , . /
"You corroborate Coin's statements as to
the decline ot commodities , when talking
of what n farmer buys. "
IMPROVEMENTS IN MANUFACTURING ,
"It is true , " rejoined the Implement man ,
"that manufactured articles have generally
declined. To fully understand why , you
ought to have seen a factory In any given
line ot goods twenty-five years ago , and
then look through ono in the same line today.
For example , compare the system and the
.machinery used in one of the great har
vester establishments of today with n fac
tory which made reapers In 187.1. You
wouldn't study the coinage laws of a hun
dred years ngo to discover why reapers nre
cheaper. I read 'Coin' and I don't know
but I might luve been converted to his
views on coinage If he hadn't made Ills
theory ridiculous in his treatment ot the
decline of prices. What man of sense thinks
nails and pig Iron ought to sell for as mud :
now as In 1859 ? Does 'Coin' think
wo have Uarned nothing In thirty-five years'
Does he want the world to stand still ? 1
sell the farmers barb wire at 2 % cents pei
pound that they used to pay 10 cents pei
pound for. The patents have expired , mon
people are making barb wire , new methoJi
of manufacture are used , nnd there an
smaller profits on It. The < highest paid mar
In every factory Is one who earns his monej
devising new methods to cheapen the pro
duct. "
"I read the. other day that n new cottoi
press had been Invented which would com
press the cotton so much more than the om
now used that It would save $1 per ball
on freight to market. That will cause an
other decline somewhere , for semi
theorist to attribute to. the appreciation o
gold. "
"I saw In the New York World the otbe
day that building ; which cost $1.50 per cubli
foot to erect ten years ngo now cost fron
30 to 40 cents per cubic foot. It Coin hai
known of that ho would have accounted fo
It by the rise In gold. The New York build
ers say that the saving comes by the use o
earn and the modern steel construction. I
modern progress. "
"Coin stumped a fellow on that line o
rgumc-nt by asking him If ho knew of an ;
odern Improvement In the raising o
orses. "
"Yes , I read that. Does It not occur t
ou that though there may bo no Improve
lent In raising horses tlrre may be In
entlons which displace , horses ? The Thorn
on-llouston company estimates that It ha
isplaced 110,000 horses , and the bicycle I
oubtless an Influence on the horse market.
"You seem to have considered the subjcc
efore. " said the traveling man with
rlendly smile. "I am simply trying to ge
t the truth , and I < am especially interests
i what you say of the condition of your ow ;
ocillty. " '
'That Is th - correct method of Inquiry , '
aid the merchant. "Check up the theorle
Ifcrcd by the1 facts , and when the theorle
Isagree wltlvilndliputable facts you may b
ure the thedrteS ileed revision. "
"What Is Hie population of Eagl Grove1
skad the traVclibg man.
'Three thousand : "
'What wasMt 1W 1873 ? "
'In 1873 ? Wllyi there was no town her
n 1873. Thfrlllrst house was built In 1880. '
"Is It possible" ? < That Eeems quite thrifty
o be sure , Mil perhaps the * town Is In debt ? '
DEBT AJflV THRIFT GO TOGETHER.
"In debt ? ifSf'cmirse. It Is In debt. Peopl
re not afraldjjof , ilebt here. No people wh
re prosperous , training rapidly In wealth , wh
eo their ownana surrounding property in
reaslng In v > fuc , are timid about debl
'losperlty matesopeoplo | courageous , venture
ome , sometime ? { oa.much so , but It Is du
o conflilenc u0Tlteiian ; | who has mondy't
ay In full for eighty acres of land prefer
, ere to buy 1,60 acres and give a mortgag
or half the sum. He docs It to catch th
dvance on twice as many acres. We hav
iiunfclpal bands , school district bonds nn
ounty bonds. They are given for varlou
mprovements which we consider worth .th
noney. Of course. If this country was In tli
ondltlon Qovernor Altgeld describes thl
\ould bo reckless and nobody would dare t
upport such a policy. IJut our property I
ncreasing In value ; our people , Instead i
elng discouraged nnd alarmed , are confldor
ind enterprising. That Is what our deb !
ilgnlfy. "
"That Is the most extraordinary view c
lebt I ever heard. Your Ideas are certain !
novel. "
"There Is nothing new or novel In then
The city ot Chicago is a good Illustration (
vhat I have been telling you. Its Ian
iwners certainly gained greatly In wealt
'rom 1880 to 1830. Dut while the populatlo
only doubled , the mortgage debts increase
fivefold.
"Governor Altgeld himself Is a good Illu :
rat on of this truth. He owns a s\teen-stoi :
office building In Chicago , with a mortgage c
't which goes to swull by several bundrc
.housand dollars the appalling sum of deb :
which he and Coin tnlk nbout. What
more , ho has given a gold mortgage , in utti
disregard of his own theory that gold Is a ]
) reclatln so rapidly as to make all otln
iroperty cheap. Why didn't Governor Altge :
wild an eight-story block and own It fn
rom debt ? When he has answered that , I1
tell you why Iowa farmers have mortgngi
on their lands. "
"Am I to understand , then , that you are a
against silver money out here ? "
VALUES MUST FIX RATIO.
"Not at nil. We believe In the use <
silver as money and want to get back :
Is free coinage , but wo don't want to mal
a radical and overturning change in the mea
uro of values which is now establlshe
We bellevcj to establish free coinage ai
ceep both gold and silver we must have
ratio In harmony with the valuation ot go
nJ silver the world over. Wo don't si
anything to bo .gained by swapping a glv <
amount ot gold tor fes value In silver , en' '
ng up with no more money In the countr
Dut a complete revaluation of property. V
cannot afforJ to bo changing the level ujx
which business in done , altering the meanli
of the terms In which all contracts are wrl
tin , prescribing new obligations to whli
no one haa agreed. It means too great
disturbance to business and Invclvei too mu
Injustice. Wo want both gold and silver
redemption money , because It surely broade
the basis for business , but we don't want
move from a gold to a silver basis. "
"But If the values of nil our property n
shrinking , the producers are oppressed a
labor cannot fiiid employment because of
wo must act Independently. "
"My friend , don't get excited. Only pro
any one of tliosip propositions and wo a
with you. Jlut , mind you , we don't wa
any theoretical proof. Wewjntacts. J
observation Is'-that the VumtorTtj and lux
rle > j of life are coming year by year wltli
the roach ofmoro people. Wages tend u
ward and coromoJIlles downward. The I
como from a given amount of capital at lnt <
est has distinctly decreased within the pi
twenty yoar&jjanij the Income from a giv
amount otabori \ has unquestionably I
creased. Ithlnk the world tends In t
right direction. " }
"Well , " saJJ the traveling man , "I hn
presented Cola's views because they made
Impression on , me and I know they have
others , and 'I .llk to try them by the fat
as I go about the country. If you pee |
are not mlstakdn about the advance whl
this section mis' made since 1873 , and In yo
comparison of prices for farm products th
and now. It ta clear to mo that Coin Is
error concerning the facts upon which t
pend his whole crusade. I would like tote
to the root of the question , and to do sc
propose that wo have Coin come to Eai
Grove and personally hear these experlem
which I have heard tonight , and make ]
explanation or reply. It ho has one. "
This proposition pleased everybody prcse
and It was agreed that the traveling m
ehould arranpe to have Coin come to Eai
Grove at as early n date as possible and
state his views and explain or answer I
objections that might bo offered to them ,
It was suggested that It would be well
have present some well known blmetalll
who , while friendly to silver , bad carefu
conilderrd the difficulties that may attt
the attempt of any one nation to establlat
ratio not recognized by other commercial i
tlonl.
tlonl.With
With thts understanding the party si
a rated
LINCOLN'S CLOSEST FRIEND
Unpublished Reminiscences of the Wai
President by Joshua Fry Speed.
THE EARLY LIFE OF FATM-R ABRAHAM
Ills HI iHH I.nwyor , I'olltlalnnnml Debater
Incident * IlhiMriitlnc 1II ll ll lou
pinion * mill Tcmlornnn of Heart -
I. nt DIIJR in the \Vhlto Homo.
( Copyright , 1883 , by 3. 8. McClurc. Limited. )
Abraham Lincoln's one close and Intimate
personal friend waa Joelma Fry Speed of
Kentucky. All of the biographers of Lin
coln appear to agrco as to this. The friend
ship began In 1837 and lasted throughout
Lincoln's lite. Mr. Speed , who died In 1882 ,
was a man of great reserve , and though often
askeJ to wrlto about Lincoln always refused
upon the ground that he had not the literary
capacity to do Justice to such a subject. He
was , however , consulted by the biographers
careful enough to seek original sources of
Information , and usually gave to such In
quirers what facts and documents he had In
his possession. Once , however , In 1874 , 1
think , Mr. Speed prcparoJ a lecture on Lin
coln to bo read before some of his Irloiulj.
and from this I shall make extracts , and so
let him toll the particulars of the friendship
so far as passible.
"In the spring of 183G , " wrote Mr. Speed ,
"I first saw Abraham Lincoln. He had been
a laborer , a flat boatman , a deputy surveyor
and for ono term member of the legislature.
I heard him spoken of by those who knew him
as a wonderful character. They boasted that
ho could outwreatlo any man In the county
and could beat any lawyer In Springfield
speaking. In 1836 ho was a candidate for
re-election to the legislature , and I believe I
heard the first speech he ever made at the
county scat.
scat.AN
AN UNHAPPY EFFORT.
"At the time there were but two parties ,
whig and democrat. Lincoln was a whig
and th3 leading man upon the ticket. I
was then fresh from Kentucky , and had
heard many of her great orators. It seemed
to me then , as It seems to me now , that I
never heard a more effective speaker. He
carried the crowd with him and swayed
them as he pleased. So deep an Impres
sion did he make that George Forquer , n
man of much celebrity ag a sarcastic speaker ,
and with a great reputation throughout the
JOSHUA F. SPEED.
late as an orator , rose and asked the peopli
, o hear him. He began his speech by sayliif
hat this young man would have to be taker
down , and he was sorry that the task de
, -olved upon him. He made what was callec
one ot his slasher-gaff speeches , dealing
much In ridicule and sarcasm. Llncoli
teed near him with his arms folded , neve ;
nterruptlng him. When Forquer was doni
. .incoln walked to the stand and replied si
: ully and completely that his friends bon
him from the court house on their shoul
: lers.
'So deep an Impression did this firs
speech make upon me that I remember It
conclusion now , after a lapse of thlrty-elgh
years. Said he :
The gentleman commenced his speed
by saying that this young man will hav
to be taken down , and he was sorry th
ask devolved upon him. I am not so youni
n years as I am In the tricks and trade
of a politician ; but live long or die young ,
would rather die now than , like the gentle
man , change my politics , and simultaneou
with the change receive an office wortl
$3,000 a year , and then have to erect i
Ightnlng rod over my house to protect i
guilty conscience from an offended God. '
'To ' understand the point of this It mus
be examined that Forquer bad been a whip
but had. changed his politics and had bee :
appointed register of the land office , and eve
his house was the only lightning rod In th
town or county. Lincoln had seen th
lightning rod for ihe first time on the da
before. Not understanding Its properties , h
nade It a study that night by aid of a booV
bought for the purpose , but ne know al
about It. The same quality of mind mad
him look Into and understand all be saw
No matter how ridiculous bis Ignoranc
upon any subject might make him appea
ho was never ashamed to acknowledge It
hut he Immediately addressed himself t
the task of being ignorant no longer. "
FIRST LODGING IN SPRINGFIELD.
At the time of which Mr. Speed speak
Lincoln did not live at Springfield , nor ha
ho yet been admitted to the bar. He wa
studying law , however , at his humble bom
ifo on the banks of the Sangamon from book
ife
o borrowed from John T. Stuart , who wa
e afterward his partner. It was In th
i. spring of 1837 , " said Mr. Speed , "and o
.
i.d the very day that he obtained his llcens
that our Intimate acquaintance began. H
a had ridden Into town on a borrowed horse
d
with no earthly property save a pair c
e saddle bags containing a few clothes. I waif
n a merchant at Springfield , and kept n larg
country store , embracing dry goods , grocerlei
hardware , books , medicines , bedclothes , mal
tresses , In fact everything that the countr
needed. Lincoln came Into the store wit
his saddle bags on his arm. He said h
wanted to buy the furniture for a slngl
bed. The matrcss. blankets , sheets , coverlt
and pillow , according to the figures made b
me , would cost $17. He said that perhar
was cheap enough ; but small as the price wa
ho was unable to pay It. But If I woul
credit him till Christmas and his experlmci
as a lawyer was a success , he would pa
then , saying , In the saddest tone , 'If I fa
In this , , I do not know that I can ever pa
you. ' As I looked upon him I thought thei
and I think now , that I never saw n saddt
face.
face."I
"I said to him : 'You seem to bo so muc
pained at contracting so small a debt ,
think I can suggest a plan by which you ca
avoid the debt and at the Eamo time attal
your end. I have a large room with a doub
v bed up stairs which you are very welcome I
share with me. ' "
" 'Where Is your room ? ' said he.
> n "Up stairs , " said I , pointing to a pair i
n. winding stirs which led from the store to in
room.
"He took his saddle bags on his arm , wci
up stairs , set them down on the floor ar
came down with the most changed exnresvil :
of countenance. Beaming with pleasure , 1
" ' I moved. ' "
'Well , Speed , am
At that time Mr. Lincoln was 27 yeai
old. "a lawyer without a client , no mom
and all his earthly wealth consisting of tl
clothes he wore and the contents of his EMI
die bags. "
LINCOLN' RISE.
Mr. Speed was Lincoln's Junior by foi
years , a man of sonia Inherited means and
merchant with a prosperous buslneis. Thi
lived thus Intimately and together for foi
years , during which time Lincoln's a ft a I
were a little mended , though not much , Du
Ing this time there existed an Intlma
friendship , singular In the lives of both me
for neither ot them In alter life was evi
unreservedly Intimate with any other ma
They appear to have had no conccalmen
from one another , and to have dlacuisi
affairs ot the most sacredly perton
nature. To no other person d
Mr. Lincoln ever unburden blmie
with such unreserve. Tbay confe&red to eai
other their sentimental perplexities , and
theie , ai U well known , Lincoln had mo
thin a full ahare.
To return to Mr , Speed's narrative of tl
arly days In Springfield. "As n lawyer , "
IB nys , "after his first year ho was ocknowl-
IRO ! among the best In the state. Ills an-
yUcal powers wcro marvelous. He always
csolved every question Into Its primary ele-
nents nnd gave up every point on bis own
do that did not seem Invulnerable. Ono
ould think , to hear him nrgito a case In the
ourt , he was giving his case away. Ho would
onccdo point after point to hU adversary
ntll It wouU seem tils case was conceded
ntlrely away. But ho always reserved n
> olnt upon which ho claimed n decision In
Is favor , and his concessions magnlfioJ the
trength of his claim. He rarely failed In
.lining his cases In court.
"Mr. Lincoln was a social man , though ho
Id not seek comnny | ; It sought him. After
o made his home with me. on every winter's
Ight at my iitoro , by a big wood fire , no
latter how Inclement the weather , eight or
en choice spirits assembled , without dlstlnc-
'on of party. It was a tort of social club
'Ithoitt organization. They came there be-
auso they were sure to find Lincoln. His
nblt was to engage In conversation upon
ny and all subjects except politico.
HE LINCOLN AND DOUGLAS DEBATE.
"Ono evening n political argument sprang
p between Lincoln anJ Douglas , which for
time ran high. Douglas sprang to his feet
nd said , 'Gentlemen , this is no place to talk
olltlcs , wo will discuss the questions publicly
i-lth you. '
"A few days afterward the whlgs held a
nectlng and challenged the democrats to a
o nt ikbate. The challenge was accepted
nd Douglas , Lamborn , Calhoun nnd Jesse
'homas were selected by the democrats ;
. .ogati. Baker , Browning and Lincoln were
elected by the whlgs. Such Intellectual
; lanls of course drew a crowded house. The
ebato took place In the Presbyterian chr.rch
nd lasted ( or eight nights , each speaker
aklng one night. Llko true knights they
rune to fight In Intellectual armor clad. They
.11 stood high and each had his followers ,
dberents and admirers. This was In Janu-
ry , 1840. The conclusion of that speech , as
.n evldenco of his style at that early day , Is
think worth repeating hero.
" 'If ever I feel the soul within mo elevate
.nd expand to UIOHU dimensions not wholly
inworthy of Its dlvlno architect. It Is when
contemplate , the cause of my country , de-
crtcd by all the world beside , and I , stand-
ng up boldly and alone , hurling defiance at
icr victorious oppressors. Here , Without
ontomplatlng consequences , before heaven
and In the face of the world , I swear eternal
enlty to the Just cause , ns I deem It , of the
and of my life , my liberty and my love.
\nd who , that thinks with mo , will not fear-
essly adopt the oath I have ! Let none falter
vho thinks ho Is right , and we may suc
ceed. But If , nftcr all , wo shall fall , bo It so ,
, ve will still have the proud consolation ol
aylng to our consc'cnces nnd to the de-
larlcd shade ot our dear country's freedom
hat the cause approved of our Judgments
and adored of our hearts we never faltered In
lefendlng. '
This speech was considered at the time to
> e the best of the series , nnd some even
doubted , according to Herndon and Lamborn ,
wo of Lincoln's biographers , that Lincoln
; ould have prepared it without assistance.
Canton says In bis book written In 1872 , "To
his day there are some who believe he bad
.sslstanco In the preparation of It. Even Mr.
Icrndon accused Speed of having had a hand
n It. and got a flat denial for bis answer.
Vt all events , the speech was a popular suc-
: ess. "
LINCOLN'S TENDERNESS OF HEART.
Hero Is an Incident related by Mr. Speed :
'Lincoln had the. tenderest heart for any
no In distress , whether man , beast or
jlrd. Many of the gentle and touching
ympathles of his nature which flowered
o frequently nnd beautifully In the humble
Itizen nt home fruited In the sunlight of
he world when he had place and power
le carried from his home on the prairies
o Washington the same gentleness of dls-
> osltlon and kindness of heart. Six gcntle-
nen , Hemgone , Lincoln , Baker , Hardln and
wo others whose names I do not now re
call , were riding along a country road. We
were strung along the road two and two
ogether. Wo were passing through a
hlcket of wild plum and apple trees. A
Molent wind storm had Just occurred. Lin
coln and Hardln were behind. There were
wo young birds by the roadside too young
0 fly. They had been blown from the nest
iy the storm. The old bird was fluttering
about and walling as a mother ever does
'or ' b r babes. Lincoln stopped , hitched hit
horse , caught the birds , hunted the nesl
and placed them In It. The rest of us rodt
on to a creek , and while our horses were
Irlnklng Hardln rode up. 'Where Is Lin
coln ? ' asked one. 'Oh , when I saw him
ast he had two little birds In his hand
uintlng for their neat. ' In an hour perhaps
10 came. They laughed at him. Ho said
with much emphasis : 'Gentlemen , you ma }
laugh , but I could not have slept well to
night If I had not saved those birds. Theli
cries would have rung In my ears. ' "
LINCOLN'S RELIGIOUS OPINIONS.
'I have often been asked. " said Mr. Spei
farther , "what were Mr. Lincoln's religious
opinions. When I knew him. In early life
tie was a skeptic. Ho had tried hard tc
Je a believer , but his reason could not grasi
and solve the great problem of redemption af
taught. He was very cautious never to give
expression to any thought or sentiment
that would grate harshly upon a Christian1 !
oar. For a sincere Christian he had grcai
respect. He often said that the most am
bilious man might live to see every hop <
fall , but no Christian could live to see hli
fall , because fulfillment could only conn
when life ended. But this was a BUbJoc
wo never discussed. The only evidence :
have of any change was In the summei
before he was killed. I was Invited out t <
the Soldiers' home to spend the night. A !
1 entered the room , near night , ho wns sit
ting near a window Intently reading lib
bible. Approaching him , I said : "I nm glai
to see you BO profitably engaged. "
" 'Yes , ' said ho , 'I am profitably engaged.
" 'Well , ' said I , 'If you have rccovorei
from your skepticism I nm sorry to sa ;
that I have not. '
"Looking at me earnestly In the face , am
placing his hand on my shoulder , ho said
'You are wrong. Sped. Take all of thl !
book upon reason that you can , and the balance
anco on faith , and you wilt llvo and die i
happier man. '
ONE OF LINCOLN'S DEEDS OF MERCY
"The last time I saw him was about tw <
weeks before his assassination. Ho sent mi
word by my brother James , then In bli
cabinet , that ho desired to ECO me befon
I went home. I went Into his office about 1
o'clock. He looked Jaded nnd weary ,
stayed lu the room until his hour for caller :
was over , ho ordered the door closed , am
looking over to where I was sitting , asked nn
to draw up my chair. But Instead of belni
alone , as be supposed , in the opposite dlrec
lion from where I sat , and across the fire
place from him , sat two humble looklni
wcmen. Seeing them there seemed to pro
voke him , and he said , 'Well , ladles , wha
can I do for you ? ' One was an old woman
the other young. They both commencei
talking at once , The president soon com
prehendcd them. 'I suppose , ' said he , 'tha
your son and your husband are In prison fo
resisting the draft In western Pennsylvania
Where Is your petition ? '
"The old lady replied : 'Mr. Lincoln , I hav
no petition ; I went to a lawyer to get on
drawn , and I had not the money to pay lili
and come here , too ; so I thought I woul
Just come and ask you to let mo have m ;
boy. '
" 'And It Is your husband you want ? ' sal
he , turning to the youig woman.
" 'Yes , ' said she.
"Ho rang his bell and called his servanl
and bade him go and tell Governor Dante
to bring him the list ot prisoners for resist
ing the draft In western Pensylvanla.
"The general soon came , bringing a pack
age of papers. The president opened It , and
counting the names , said , 'General , ther
are twenty-seven of these men. Is there an
difference In the degree of their guilt ? '
" 'No , ' said the general , 'U is a bad cas
and a merciful finding. '
" 'Well , ' said the president , looking out o
the window and seemingly talking to him
self , 'thcsQ poor fellows have , I think , sul
fered enough ; they have been In prison fll
teen months. I have been thinking so fo
some time , nnd have said so to Stanton , an
he always threatened to resign If they wer
released. But ho has said no about othe
matters nnd never did. so now while I hav
the paper In my hand I will turn out th
flock , ' So he wrote : 'Let the prisoner
named In the within page bo discharged
and signed It. The general made his bo'
and left. Then turning to the ladles , b
said : 'Now , ladlci , you can go. Your HOT
Madam , and your husband , Madam , Is free
"The young woman ran across to him an
began to kneel. He took her by the elbow nn
said. Impatiently , 'Get up , cut up ; none c
thU. ' But the old woman walked to hlir
wiping wltb ber apron the tean that wer
coursing down ber cheek * . She gave hli
her band and looking into his face , cak
'Good-bye , Mr. Lincoln. We will never met
again till we meet to heaven. '
"A change came ovsr bis sad and wear
face. He clasped her hand In both ot hi
and followed her to the door , saying na bo
vent , 'With all I Imvo to cross mo here , I
m afraid I will never get there , but your
vlsh that you will meet mo there has fully
mid mo for all I have done for you. '
"Wo wore then alone , lie drew his chair
o the fire nnd said , 'Speed , I am A llrtlo
larmed about myself ; Just feel my hand. *
t was cold and clammy. Ho pulled off his
> oots , and putting his feet to the flro the
icat made them steam. I said overwork
vas producing nervousness. 'No , ' said bo , 'I
m not tired. ' I said , 'Such n scene as I
mvo Just witnessed Is enough to .mako you
icrvous. ' 'How much you are mistaken , '
aid he ; 'I have made two people happy
oilay , I have given R mother her son and a
wife her husband , That young woman U a
ounlerfolt , but the old woman Is n true
nothcr. ' " JO1IN GILMER SPEED.
The blast furnaces of the Mahonlng nnd
Shenango valleys In Ohio have dcelded on
nothcr 10 per cent advance In wages the
econd within two months.
Shooting , Fishing Suits made
to order from ever lasting
corduroy.
We charge $25 for these suits
because we use only the
very best corduroy and un
derstand the art of making
these garments as they
should be made plenty of
pockets and well and strong
ly made throughout , with
perfect ease and comfort.
We show over fifty different
shades and styles of cordu
roy , and our fabrics are fresh ,
because we use so much of
this goods , and procure them
from the best sources first
hands and at lowest prices.
Some corduroy pants to order ,
§ 5 ; the majority , $6.
mailed.
Garments cxptos * > od ,
otm wonii MAUI : IN THIS CITY ur
TIU3 1H2ST JOUR TAILOIIS.
207 S , I5TH STREET.
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