! jIITiT : = - - - - - - - - - - -
14 TIlE OMAITAJiAI1Y 17 , J8o ( ; . r _ _ _ _ _ _ _ _ _ _ _ _ _
-
Mr. flocwatcr eannut deny It. lie cnnnt
writer betcro 1S7I ho gIvc hI eflr4ti"n
an honest ilolJar , d to defltJon I
today by thue Who dare nr4 ndmlt I
fundtmerital truths of poflilcal ( eonomy. 1
. ] oflnltlnn that hear tony , that. a ilol
% Ia honest It It to.i nothing by melting ,
a eflnItIon that CivctIOOkCI ita urchaiI
vower entirely. Mr. ltoRewater'a deflnit
Oe ] not Icuci ) tht ) UChnpflg power ot
( lOlIar. If a dollar buys a bushel of wl
today , and nt year buys an hundred bu
e18 , If when you melt It lown. according
lilA definition , it loen nothing , It l
honest dollar. " It It buys z tiuheI of wh
today and next year it takc9 a hundred
buy a bulieI of wheat , it i& an honest del
4 according to his definition ; If. when it
melted , it 1oieu nothing. That I the lefl
tion of "an hone9t dollar" given by the g
. bug. Why ? flccaue he vnnI a dftnIt
that will fit gold. It fits gold simply
cauo the law ay that ix , much gold i
dollar , nn(1 ( as long ai the law ay& o.
I can convert that gold into a ( I3iiar , and U
? dollar hi your littit. YOU flilhIt have the b
lion and the coin of the same valuo.
AGAINST , ( lOlA ) STANIAItt ) .
Nnv1 why avolI ( the iiiuo ? I inslEt II
, ho ( IidupN the iurcha8lng ) power of the d
: lar , and unhil ho dicl1Pes that , lie d (
not di&'cue the money iuction as it afte' '
, I Now , ho saya that he ha9 n9 much inh
-4. est In this atatn as I have. or ror
h liae. I (13 not know bow that may he.
do not know what I may have hereafter ,
what he may have. lint I ihnil tell you w
I itin in favor of llmctaiilRrn , nnl he c
r tell you why he l in favor of the g
etanlard , and then you people can i
. whether he 1i interested in your welfare
r - biN tnteret 19 In your dc'tructioii. The g
r atantlril lIaH made the houses of thl city
; cant , It tia turned lahring men out upon
fitrect , It has forecluei1 niortggez upon
c farm , of Nehraka , it has driven our toili
claos to clerperation and dlstres8 , and
- denounce it. ( Ioud npplatn'e. )
lie warit a dollar that ii good all o
the world lie (1OO not seoni to fear tl
: It dollar vIli be too high ; that It will I )
too much. Let Inc call your attentIon
oino flgirca % obtained from the Agricuitui
department.
,
Our crop of wheat iii the United Statem I
cacti of the years , in 189 $ and 1S , wai or
about the amo as it vas In 1879 , and
the CrOII nolil for le than halt as much
& the crop did in 1879.
hut the mnortgageE of the farnlcr $ did ml
f go ( lowe ; the taxeR (11(1 ( ( not go domi ,
r. the ability t PaY mnortgages and to p
t : taxmxl , ent d'wn , n time dollar went up , a
f a the credltcr clamq of Fngland anil t
United States profited by the Increase
their wcith. Go on with the gold atantla
. nnil the prices vlli be lower anil low
, Go on with the gold standard and
farmers who are holding on will lose th
homes. Go on with the gold standard a
tlmo imancos nman will be tmikrrmptetl.Vh
Ilecause the peeplo will not have the muon
- to buy lnat he has to sell.
TALKS A LITTLE 2ALAM1TY.
L We have a gold standard now. T
failures Inn tIne United 'Stitesere ' great
. . last year than the year before. They we
I greater for tine first three nnonths of U
. year than ( or the first three months of l
year. Vtiy ? Because everything Inns go
: down , but money. Talk ahnut good mnoun
l Money cain be too goad ; money can he
: good that you can pray for It , and wammt
and long fur It. hut you cannot get tiolul
! - ' It. It may' ho too good. my ( remus. Peer
are interested In honest property , in
Inoneet huolnel ot wheat , In an honest bush
. - of corn. They are uuiore Interested in mi
hmaling corn go doe n , and wheat go dew
than they are In having money go up.
, . frcInd' definition ot an hontvt dollar leav
out of coniIr1oratlon tine purchasing power
a dollar. t ask him to an.ver wimother.
: a dollar next year under a gold staudal
will buy t' ice as niunchi an it. does this yea
1m : he thtnke It. would be a. good thIng.
' ' not tine wil
" " 'vtny was
\Vlny , Ie says ,
cat money gooni before the war ? " Ihecau
and the mnen WI
It was a promise to pay.
made the promise to pay were not able
pay. That Is the reason It was not goo
lie says the gold dollar Is good becauco
ti
changes. It will change whenever
never
law chaunges. it has changed once In Un
country. It changed In 1831.
( A voIce. "It was in 1837. " )
No Inn 1837 It was merely tine proportion
hut they charng
changed ,
0110) " that was
4rr't7n ' ) else of tine gold dollar in 1834. The la
, 'ua1cos anul tine law nnmakc ( ' . and I ai
. .1 nIm to meet this. We say that If you I
antI do mu
ff ( crease tine ( lennand for nnuoney
4 ? ' Increase Its volume , you Increase ha pric
Is not that tIme law of supply and demand ?
An I yet be sae9 nation after nation Ic
into existence a. new demand f
J ( bulatlng
I gold. and sees gold rising In value becau
of that demand. and It does not scare hi
at all. We also apply the law of Upp
and demand to silver. We say that by tal
time demand. sIlver has fahle
leg away
Restore the denuand antI silver will rise.
' ' ' 'l'IIN MINU'J'Il
iit. noioV.t'1'11lt'S
. itiight
lie Te'll $ W.Ii ) Anierlczi
I' In iluarfimle.
, I Mr. liryan mae asked me to explain to yo
.
j. I winy the American people were obliged I
I buy gold In Europe In exchange for thel
; 1 bonds during tine Inst ycar. I will Jun
' becauro there are O Wan
: simply say ,
Uryans In 4mnierhca. ( Great disorder. )
; .Tj
Imutenndeti to cast no reflection upon
liryan. I simply say it because there r
' so nununy men Just like hnimn In America , me :
who are making the stability at our currcnc
uncertain. so that th men who lnave mone
: to loan 1nsst upon getting back the kind c
money that they have loaned. I'eople win
. - . - have mmnonney to loan. abroad and in Amuncnicc
. : are discounting ttne future becauae of tin
. ' . agitation and uncertainty tinat surrounds ou
: monetary stanndard wlnlch threatens to PIac
: un upon a silver bals.
Three yeura ago I borrowed upon TIn
flea buIlding the sum of $200,000. I inn
tIne privIlege of renewing that loan at 4
lr cent un goini or 5 per cennt inn colmn , ami
I renewed It at 5 per cent , because. indivl
unily. I imad tears that. seine time or otinc
: within tine next tow years gold would go
a prenniunu nmnd peaplo who were In dot
would be uuuiidamuiy crowded to ( Inc wall an
mayo to pay their gold with geld micros
( Laughter. )
Mr. hlryamu asks this ( luestiomn : "V'tny I
It thnat tine contracts are beIng male I
gold ? " It is simply because of tine comm
etamut n&tatlon and denmands manIc by lb
, sliver states anti tine people Imntcrestetl inn tin
iiver nulmming countrlem , mind because of tlni
. deiUBIOniSts wino are going abaut the cone
try ; mreaclnimng ( mc doctrimme of the free ann
untimmuitcul coinage of 'Silver. It I becaus
these people , by prommiulgating such doctrInes
mayo rendered the credit of tIne country un
itabie. They have destroyed its credit
and when you talk about gold vacatlni
. houses inn Onnatma ; wheEl you talk about tb
t Idle worlcinmgnnnvn wandering through lb
itreots , why , sir , that mmnerely mneamns tine
' credIt , limo great bulwark of Annerican corn
merce , inns beemn unniermnined.
' CREIIT OF NATION IESTROYFD.
T Credit carries ii per cent of null the busi
nean transactions of tinie counntry , and gob
_ end silver but 2 per cent. You have do
\ tnoyod tine credit of tine mmatiomm by ttnlu comm
sleet agitation. You have uown tine wind
mmml mmosv you are reaping tint , whirlwimnI
Iy friend , of course , wnnmmtma to know winal
the effect in of a rising dollar , annul tue as
- DU1nc3 that all sPecies of Inroperty are equa
In purchasing ammni veIlIng iwer tromun year in
year , \'it ) lie knows Very well that ( Imirirni
the war mnearly all the cottomu was destroye
mi the meuitim and 'o wore imnportinig cotter
r from abroad. lie knows tinat a pound of cot
n torn m IU at timat time for $1.03.Vas it be
cause we lund only paper fluency ? Not at
all.
all.Thno renoon why cotton commanded maucim
high prIce was because It was 9arcc an (
because WI , had to hnmport It. SUppoc
; lurlng this s'easomm mull the wbeat of tint
United States hoUitl be destroyed by eummuc
. - - nmforreen calamity. Suppose tine wheat cropm
I of htustda and South AmerIca and hmndla svorc
' inort.'heat would go up prqbabiy to $
; , , a but'imei , amid viiaI would that have to do
t t with oliver ? Money would have nnotlmimm
't more to do with the vrIco of wheat tbann ii
would have with time Irice of corn or po.
tc.toeu , I Want to ask hums whether me does
' s'ot recogmnise tinat the real cause , the great
I and underlyIng cause of our present induna.
t trial distrees , is due first in a mnieasuro to
% tine industrial revolutionn tinrougit which we
have pabred In tine last fifty ycarmi by reaun
n of tine introduction of machinery , tumid by rca-
n of ( he lowering of time tarIffs ( tpIniauso. )
- . lie ascrlbenu thIs depreciation to unllver. Winy
: the depreciation of silver bullion should have
euch an effect upon other commodities In. a
' proposition that lu not plain (0 ( nnie. Winy
t the custom of mnmexn wino agitate thni9 aUver
\ ueitIon 10 iuWst that cotton aanl grain and
L\ \
=
mm'emnt amid mmii the produmeta at tine field
mmii ke.in Cumnupany with muilver , and vi
n.Iver gces Iii , , cotton and nil ther'e vfirin
bTOImICtS go unp.Vhcrm sltven. goes nlown ,
ton stud ttimer prodmmcts o down. hint I
facts refute iho theory. The' tact in , for
stance , today , ttmunt corn is hIgher In p
portion to diver than It was winen all
' % as away unp.
In 1873 a lnmahel ) of corn , t ( Thicago c
4f ; cemntm' . amid in 1874 It went up to 65 ecu
and tIne Price WflS inighc'r still in the foilc
leg year. 18Th. flow can e account
that 7 Silver lund lieen struck down. 1
whole monetary synrtemnm of tine tJmmited Sin
mail benn dertroyed. If we belIeve this g
tlenman , mint corn kept going mnp. Mece InC
In l72 n ! $13.10 a barrel in Ne Vo
That wan before the crIme was comrnltt
Tine year after time erinme was eonnnnltt
In 1874 , mimosa pcrk vemut up to $19.50.
1875. tine year following , it went to $21.
I % omnid like to have Mr. Bryan explain
mness pork ent mnp , whIle sliver emns got
dense.
cujSF oi' iECLINE IN 1'ltIClS.
Tine tutnole fabric tnt the nieclinc of Pri
rests upon entirely dIfferent tineolles fr
I lint vhtcn ! Mr. Bryan would like to in
you belIeve. As I go alomng I will expli
mmnore fully why the dIlerent articles a
conumnonlities iuave been goimig down , a
winy gold amud silver have bone Iluctuati
right along. I mnaintnlum tlnat ve v Inn n
vocate tIne contlnmnanueo of tine Irent stan
ard are greater friendi , of dIver , truer a
better frlennls of silver , than those ' %
airocnSc ! ts ree nnnl unhlnmulteil colnat
Ve believe In tine sublest circulation of sil' '
0mm a parity witln gold. \e have nual
tainicIri a larger volummie of silver in clrcu
ton on a parity with gold than ever 1
beemn unmnintained before.
On time other hand. the tree antI unilunll
cinage of slIver would ntnsohntely drIve gi
out of clrculatlonm. it wonini decrease I
volunnne of prlmnmary miunney , as It Is call
by niarly onue-Innif , and thereby cauce
shrinkage of Inrices instead of an anivan
lint nny friend will not animnuit that ,
comnrro , I would like to have hmlnnm eximla
if mis tlneory Is carrIed into iractlce , In
tar bliver vlli go up and s inenn will rib
cameo tnt to $1.29 nn oimmmce ? WIll it go
$1.29 mn soonu as tine govcrnmnnenmt 1mw
creed tinfit tln nnulmnts shall be rpen to
Or will Ii comne up tin any extent , and Inn
iimnc'ii I And whenm lie hues given me U
Informmuatlon I viiI try and siiow him Li
Inn Is Inmmp1y nielmmfieti and lahoriung mmnder
lnalluclmnzntion , not at alt borne out by I
oxpcrence of tine Past. ( AhmIiause , )
m ii. 1IRY.t'SI'OX I ) 'I'1N M I N t"i'I
lit' t.li4 ( Lmit'st ( ' mnm
mllwlnnsc iullnr.
I again asIc Mr. Tthrcwater to tell us e I
the effect of the rleng dollar is upon I
ce1Itnr class. lie cmnmo very near It U
11mm' . I catmini eec lie was edging up to
but mo got scared when Inc got beside it.
inskt tlnat lie ainotmld tell ins vhether
creditor class would ho benefited by the rid
dollar. lie has told us that sOIflOtiIne8 wiu
gOe. up and sonnetlnmuos wheat goce down. I
Is a good oal like tine nnan described
Icnnmnelly , wino was aekeni winich was
warmest nnonutln , January or July ? " \V }
July. " Inc said , ' 'of course. ' '
" 110w do you know ? " ' ' \'iuy. ' ' he sa
"because It is always that say. " lie
asked :
"Does Ii gel gradually warnner then
, , \.ee. , , mc' said.
"haven't ytn seen days in April that w
coder than titiyn lib March ? " "Yes. "
, VIny , mw friends , we know tinat comm scat
tine stmpply a
go up or ( lowe according to
dennand anti heaL and everything doe , b
tinat If your doilara are gettIng scarcer
tmne Untie that that rie , amnni fll will ho UI'
a nlechlnulmtg pian-tinat is vin.mt a e Insi ni inn :
Not tinnt tinere Is a great fall in amny pant
ular tImIng , but tinal. tIme average of prices
doan , and down , and down. lie says , "WI
dId cotton go tnp iluning tine var ? Ilecau
i.'ttcnm wnn scarce.Vtny doa mumney go
mnow ? Ilecatiso nnoney Is acarce. ( Great a
inlau'e. ) I acm glad Inc told us abaut ti
mortgage on The lice. It proves two thint
It provcu timntt the "sliver craze" Is not do
inlm. ( Appiatne
yet , for it has scared
More than tinat , It proves tinat Mr. Rosewat
has made provision to r'ay hIs debt. in dl
honmeot dollars. " ( Great appiatnnme.Vimy ) l
me not agree to pay his debts in "a doll
tinat ts good all over tine world ? " lie vnnt
It In "a doll
to preserve time right to pay
that iaa good 1mm MexIco anti Japan. May
he Is going down there.
LAWS ThAT BRYAN WOULD hAVE.
lie says tinat they lund to Issue ben
because thnere were too many Uryans
tine country. But , toy frIends , he nloes a
ntmusver mmmy ( Pmestlomn. I askeJ inlm If S
vcr , ins money , was as good mmmi gold nmmomn
today , winy we mace to borrow gold to p
our debts ? Tlnat Is tine question. If tIn
llver Is not good enougin to pay our niob
I want to know winy it is not. Time Ie
nays it is legal tender , unless you want
: ontract against It.
Now , my frIends , If I lund my way abe
1 , I would mare a law timat woutd prohlhi
ho nnnnklng of a contract in any partlcUiC
cind of nnomnOy. ( Anplauee. ) Why ? 13
ause I say tinat that nmnouey shnfcin the in
loclarca to inc good for time common peep
ugint to be good enoingin for tine money Ic :
er. And he nUtrlbtntea low prIces to U
ifects of unacimimnery. I call mis attentic
0 tine fact tinat from 1850 to 1873 we Inn
5 milCin innpnovennernt in numacininery as
nave hind sluice 1873 , and ntlced rose. Tine
lid not fall. I also call mIs attention I
he fact timat It could met be macbluer :
ecamnse In tIne last three years prices ha
elicit nioro thanm inn any three years In Ii
iibtory of tints country , and there have be
In Innprovenni'nts in machinery to expial
I. lie says that wheat has gamme dowmn , an :
I& silver ,
I want now to answer tine propoetion tim
0 tried to refute when nuade by Mr. Iiai
ey. lie claimed $100 , and inc said ( It
ecollect Tine thee article ) tlnat , because ye
osmld not take sliver to India and ina %
L coined free , timerelore , tine farmer In tbl
ountry was not at nt ( lltnanivantago ,
- F'REiI COINAGE IN INDIA.
I vant ininnu to turn to limo nuint report
894 , and I tant hnlnn to read tincre wtn.i
he dIrector of our mint says. Wince IncH
inspennniccl tine tree coinage of silver , I
893 , tine govornmmnemnt agreeni to 1w nlsin I
mnpees in return for any one gold noun
resemmted , 1mm 1873 tIne rupee 'as sort
bout 48 cents amnni It. took 10 rupees
uake a pomnnd. Since tlnen , inn India , gel
as risen umuntil 15 rupees coUld be bougin
r a golni pound , anti tine goverunnuont agree
ow to furnish 15 rupees to annybotly win
iii deposit a gold Imounni. In 1873 , if
man wanted to buy wheat in India or tin
niteci States , inc bought emu tine same basin
Iow , If Inc wants to buy in tine Unite
tatca , inc buys on the gold basis , If in
uys in Innlia tie buys on tine silver basin
nmd tine IndIan farnmmor inns an anivantag
r rupees out of 15 , over time Americai
urnmmer , ammd Mr. licmses'ntcr knows it if in
'otnld examnJlno time mnmint report , for tine no
art declares it Any nmnnmn wino wamnts t
uy wheat earn go there nrnd get mis 15 mu
005 at time mints of Immniia and buy ml
meat in India , More tinan hunt , not enl
as timern beenn a fall In the value of winen
mmcl cotton because of the ( all iii silver
nit because time Imncreased ( lemnanni for gold
rented by legislationn , inns lowered the line
I all property. ( Applause. )
New rmuy friend speaks of time tariff ann
e sa"s that tine tarIff was tine cause o
IW lmrlces.
Ah , nmo' I wouinl be glad to iliscuss tin
iriff questiomm with Mr. Itosewater ; In fact
I aiim mnot mnistaken , I mad not beenm In
Imis state tIUltu a week wimen I Ineard Mr
osewater mnuako a Fpeecim inn republican con
ention 1mm LIncoln in wimicin lie supporion
cm nmnnnendnmnent imutroniuced by Van \S'yclc Im
ivor of the reductiomn of time tariff on cer
mimi ttnlngnn. Now , tinat Inn my necollectlon
ad I uk inimim to verify it , lie knows bet
r luau I dO. hut mnmy recoliection i the
e of line first tariff reforjnm speecines
er heard Inn Nebra8ka was fronnm the 41mm
nguisineil editor of Time Onmuaha flee , han
no tariff done It , mny fnlemmds , low tariff
01 at all.
I call mis attenmtlon to the report made bI
clinmley Inn 1890 , ( Applause. )
Now. It those republIcans wino inurralt to :
clCinloy will hurrain fOr 16 to 1 , we wil
dye time conntradlctiomm tlnmit we are usualil
tvlnmg. ( AvpIauso. ) Mr. McKinley said in
:5 : report In 1890 , that there was "wide
mmeanl depresiomn in agriculture. " lie else
hI : "We have not believed that our veo
e , already suffering fronn how Innices , can :
. slIi be satisfied islhlm legislation which
Ill result in lower prices. "
TALKS TAILIF'F' flEI'ORM.
They bad mad a protective thrIft ton
cenly years , Mr. McKinley said tbat agni
nlturs was depressed and tinat they went
uiferlog nonu low prices4 and tInwa tw
years after tinat Mr. McIriey went fete
to justify the Mellnley bill because it 1
brought lower prices still.
Vinen McKinley tells you that there v
m1elmrepIon Ia cmrnicmmlttnre that year and ii
when I call your attenttomm to tine tact II
oven with the depression In agriculture
that time that the ame crop of imnt
the United States would bring aboint & 0 I
cent nmore then than It. would bring today
don't vant him to explain timat timls dezur
slon b agriculture is nhmo to tariff refer
Time only effect of tariff nefornn is thIs :
takes away ftonm the people ihmO mnmtnt
at low Prices the neceqsity of bimylnig tvl
timey do buy , at ficticlotus hirices. Iteili
tiomu of the tariff is sImnply pmnltlrmg the mcii
factuner on tine level with time Carmmmer
lmrotectivo tariff leaves tine farnuer to stir
from tine single stanniard and then lets I
nmnaeumfactnnrer pinnnmmler imlm while Inc Is nio
( A ppIaur'e. ) _ _ _ _ _ _ _
ts l'I'll ) S'I'.t'I'liS A I)1113'l'tlt N.t'l'il
: I r. It un'iii tn'r , tnnmssers Smunine I ! mid
.tskn'nl isis Mr. ilr ) liii.
I mace been agaIn Invoked to oxplaini mc
fully concerning the relation of an apprecin
leg dollar to tine creditor class and to
debtor class , and I nun wIlling to oxplaini
so fully that nay friend will be' veil satisfin
I inOlC.
The people of the United States are
debtor nation. Tlnat is strictly true. T
orosness tinat we mace made , tine mmnarveic
progress that the United Statce , of Anton
inns znmadc wIthin tIne last timirty years Ia' 4
ainmost entisoly to the fact that our crc
wac first-class In all parts of tine won
whcro money vas abundant , It Is due pri
clpaily to time great aelmlevernonuts of tinc C
Pnhilcan anImmmIninIratIons , beginning wi
General Grant , In paying time nnatienai th
anti reducing tIme nmational debt from neun
$3,000,000,000 down to below $900,000,0 (
that tine crcdnt ot tine nationu anivanc
steanilly for the' lacnt twemuty years.
\'hmy mild it anivance ? lIecatnse tine i'coi
abroad vhio lund money to loan mad conhldem :
in thno integrity of tintcis natlomn. And if I in
ninny onne timing to say above all otimere , o
niotto would be Inscrlbeni above all the I
etitutlons of Annionica , and tnpon every dc
nest Inn every inonnse In Annerlca , It would
inornesty annul lntcgnlty-Imntegrity of purpon
integrity Inn debt paying.
\\'lnat kinnl of nnoney did yotm borrow ?
you are in debt , Mr. Bryan , vhat kind
you borrow ? You borrowed good , inenc
mnnoney , dldnm't you ? You borrowed inane I.
fcre 1873 ; you borrowed none of the m'mnnm
tinat was based upon time intlatel eunreni
You borrowed nioney , 100 cents wcr'lm to I
dollar.VIny nb yam want to ay it WI
deprecIated mmmonney 7 Is It honest ? hi
rlgint ?
IT VAS EQUAL. TO GOLD.
Scnpposlnmg you mail berroweil ani tumbrel
Suppoe you lmani been overtaken by a sinew
amnd cntered a Inoinse anmcl you had akcd yo
neiglnbar wimether or not inc cotnid ioami y
ini9 unubrella. It was a silk tmnmmbreila , a
you receIved the unmbrolla , pronmislng to x
turn it In ( hUe tinme , and in due tlumme y
ahouid return inim a cottonn unmbrella. No
tlnat is prelsely tine poritlon yonn are takii
110w wIth regard to time currency questic
witim regarni to the public debt. Every ( IC
lar that tine people of tine UnIted States ma
borrowed was equal to gold , was on a stani
ard of gold when it woe borrowed.
Now tb you believe tinat people would
fcollsh enough to loan nmoney to any dcbt
Inn time Umnlted States on tine very best secmnri
mnnlenu inc maCi reasonable assurance that I
would get just as good money as lie loanen
Anl that 1n our Interest. The debtor's I
brent Is greater In keeping tine credit of II
mmatlon Up , in keeping time credit of YOUr stat
and cities and indIviduai , than It Is In pa
lag witin dcpreclatei1 ctmrrency. ( Great a
plausni. )
You could not borrow a dollar If It w
known that you did niot Intend to repay tl
loan you got in as good monney ann was mad
Do you wammt tinls country to repeal time lai
that would enable any unman to unmake a volu
tary contract ? \Vhy don't you vy that En :
land imould repeal time Magna Charta ? Tl
night of contract inas been granted to eve :
free people rince King Joimn granted freedo
to the Engllsin. Yomn talk about repealln
tlmat , winy , sir , uuch a law would be a dec
letter In every part of this country. As ti
nmo treat law inns beenu in Nebraska.
My rnicnid has saii that macinIntnrv inn
Iad notlning to do with time lowerIng
nIces. and that greater advances In lab
saving nnachinery have iiecn mmmanie prier
1873 than have been since 1873. 1 he I
differ whim him. I 'IiI only call attenntic
to some of the changes that mace takm
place. We will take it in the busIness
which we both arc presumed to be ongagn
-time buciness of printing newspapers. I
1882 timey were still using that camel-hac
elephant tcnn-cylinder press that requlr
ten men cIinblnmg over each other In ordi
to prnt ! about 3,000 papers in an hour.
saw One of thec in time Ofi1C of tine Cm
clnnati Connonercial In 1873. In 1875 ii
. 'lrst Webb perfecting press came into ins
it wan ; en view at the Centennial expositic
and ran off 12,000 perfect papers in an lion
witim only one feeder. Now there are vressn
tinat print 06,000 papers Inn ann inour. Ti
and one-malt years ago I inuvested in twel
typecastinig naachlues.
IN TilE PRINTING BUSINESS.
\e mad seventy-two printers enmployed I
aur cfflce at ( hat tlmne and Inncnediately often
ward we discharged forty-eight anti tvennt )
leer , I think , remained. The price of con
position prior to the introduct'on of them
macmInes was 40 cents per 1,000 onus fc
iulgiit work and 37 cents for day work , ann
hOW that composItion costs mis 14 cents Pc
1,000. And yet my friend , Mr. Bryan , wI
Insist that he knows better thanm I 4
nvhetlner macmines mare causeni tine rC
luction of prices. The printers w
ave retained are getting bettc
cages than tiney dm1 before , but tines
the went onmt , mayo to seek a living I
timer directions. Time men andi women worm
ng i'iglnt imomnrnn in time ( lay time earn $3.5
nor day , and niglnt work 50 cents for ever
notnr , making $4 a day , so that tlnee nne
nnnrin $2R per veeh. unit tine poor fellow
vimo were crowded otnt mad to work thel
cay Immto otinor aventnes of trades , mmd eon : :
) f tinonmu mmnay bum unable to get vork , ant
now are you going to incip it by too coin
go ? Wlnat inns free coimmage got to do wIt
mat ? WIny , sir. tinese free sliver advocate
omnincl one of timose nnostrum vendors wh
re canstamitly ciaimlrmg tlnat they can cnnr
: onaurnption , cancer , epilepsy , bron
lnltimm and every otiner known dis
ace with ono particUlar renneiiy
mmd It is that medicine , the tre
niti tnniimitcncl cornage , winicin is guaranten
0 cure antI drive away all time Ills that nnann
Intl is Incir to , Now I believe tinnit timer
rebably are fifty different causes respon
lble for time reduction ann ) lowering o
rices , and tinat they brougint about tin
epre sionm of omnr Industries and tite coin
iorcial stagnation , but of all these , tin
ocetant tinkerIng whim and disturbance o
nir nmnonetamy system is largely respoensibl
or tine destruction of credits. As I say
tie credit business of tinis nnatlomm anmonmnt
sonmethninng like $95,000,000,000 per anmninmmn
here the circunlatlon of nnmone ) alumna I
muly equal to about $18,000,000 in tine Unite'
tates. _ _ _ _ _ _ _
lit. flIt'tN Im.iANIfl itS AS1'IIit
iIs ' 1'mn're Art' Iiiils nit lii.
, in.iInm * lens.
For the liftim time , I ask Mr , Itozes'aten
a toll us what Inntoreet tine creditor mcmi i
he apprecIating atandartl ? lie got in littln
caret to it ( mis ( fine , but when Inc got cIos
cm slmietl oft. lie told winat a terrible thniu
i would be ( or a debtor , If Inc tried to pa
iu debts 1mm a depreciated dollar , I wummi
tin nOW to nuewer the quertion , Vs'tnat In.
rest time creditor portioum of the country man
t an cnppreciatingstamndard , or wimat interest
nmgland Inac In tine goid stamndard , on
hat interest the ealtern portion of time
auntry has In legimmlatlon tinat mmakes tInt
oiler do : r , for the gold standard i being
vocateti inn tinis counntry by its eastern :
riends neil by tine great money centers 01
no wonlni ?
I have toad tromnm time Royal Comnnmisnionm
here tiney cl3lmmi to represent tine creditor
lead , width expects to be benefited by tine
so of gold. I want Mr. Rosewater , in inI
ext speech , to toll us what tIne credItor In.
'remmt Is in tine rise Inn the value of mommey.
nnd another timing , ime tellun us what a ten-
bin timing it is for a debtor to repmndiate his
bt. I want inimni to understand there arc
vo kinds of repudiation. Tine creditor can
mpudiate as well as the debtor , and wince
to creditor dennnannds a dearer doliar tbari Ice
aned , he is dimmnommeet. ( Applause. ) lie Is
I dishonest as any debtor ever wamm ,
Mr. Rosawater talks about tine credit of
ne nation being supponteCi by tine republican
nrty , anti tells mow the republican party
nyed off the debts ; but inc did not tell you
net while tine democrats and republicaas to.
gctiner paini ofT a large part of tine debt
tine country 'lucy bmmilt up a finammciai sy5tn
that mnke It tnhtp anlmnost as unumnein In I
producti' of labor to pay smat ! Iii left as
womilil have takenFI pay the wimole di
when it % nm contrncql. ( Applause. )
TilE 1LIGIIT Ol' CONTRACT.
lie speaks of time scored nigimt of contra
amid at last Inc qtmaiifiee It , "tlnit'na it
nmgalnei public' poiy ) , Timir , my friends ,
just the gromnnni upon wlnicim we place
We say that it ins nalnst pmnbllc policy
allow a lnatntlfmnl of tie creditor clans to irma
conmtracts anti dentjonmtlzo one nnoney an
raimia tine ( lemmand foti the oIlmen , and tb
collect time debts that they mace made lang
by tIneir own act. That is what I say
vrong. Innmt. I . to ask imlnmi it tine ia in
not a rIght to regulate the nato of intore :
Wimy nines it do i ? It ( lees It Inn orniet' tin
( ho muon ishno is mm tine grnop of the muon
lender tinny not benrobbeti by mini becmmm
of lni power over himmm I know ronnie POll
Ca ) ' tinnit timey tb to believe In mnsmnry int
hint ialt uncmtil a nuan ian had to ; nay 100 I )
cent on mis inotiselmoici gooda beauso semi
shnylock inn lucid lnlnn in mis grasp , anti thn
tlmey will agree that pmnblle policy requir
that you protect tine borrower fnenn II
greed of ttme lenmder. Annil the very same no
corn justiflee mns in mmmnklng a law mnroimibltin
ell contracts.
lmtnt after Inc bind acknmowlenlgcml tinnt
mad munnie a contract and mmmnde it in cal
so that inc would bet mayo to pay Inn gel
I dldnm't surpose that Inc would get imp a :
read us a lecture about paying in tine sari
nmnomney as was borrowed.
Now , I asketi hinmn to define binmetnliisi
lie inns not ( lone it. I ark mmmi again
define bimetailisnn.VIiy , mo says thl
ant a large mao of silver. Ion't tiney wa
a hinge ( nec of copper coins , too ? Ior
tiney want a large use of nickels ? n
friends , we don't want a sliver dollar tin
is meld nim to gold by regal temniler. 'V
want silver tinat is standard onney , an
good enoingin to pay bondholders as w
as anybody else.
Anti I must not forget to nnnsver one org
mmmtnnt. lIe says , Vhy dId tine ltothnscimil
iant to ( lonnonetizo silver winenu silver w :
wortlm mmore tlnnnm gold ?
ENGANl ) WITh A COLt ) STANIARI
My frienmds , mere is tine reasomm , At tin
tinmnc Englanmd mad tine gold standard an
tine mnmoney Celmier : vas Inn London , nnnti
was easIer to irlng : imp oIlier coummtrles
that stantlartl thanu to nttemmmpt to clmanj
their starmdand to suit otiners.mmd at tin
tinmme , also , tine supply of gold was 4
cneasimmg amid tine suplnly of silver was ii
creaslnmg , nnd at that tinnne a large annnotni
of gold Was muccl 1mm tine a ? ts cmii a largi
mnnotnnnt was inclmmg used each year.
nmnlces mno difference to tine creditor cia :
wimicin kind of nmonney tiney destroy.
they wammt is to unmake mnonney scarce am
Linus unmake It dear. innl they timoingimt
better to destroy that money winiclm seennn
to be lmncreasiung-s tlnat it mmniglnt bie
mmnnnmkinci-ratlner tinamn destroy that nmmon
whicin Was decreasIng imn Its prodnctio
That Is tine reasonn , nnny fricunnie. lie sa
tincy are not fools. I icmmov it. Nobody a
mnses theumm of being that. Btnt I want I
know what tiney tinink of people wino a :
villimng to put tineir necks into tine unite :
tinat they mare preparedi.
lie says , mow nuinch will silver go imp , if w
have tIne tree coinage of it ? You cannn
tell unntll yomn try , cud those % tlno will nn
try i'Iii never know , and they never vant I
find out. 'lny , nmy friend lucre woinlil ina
us believe that as long as lie thought then
t'aa army chance of brinuginmg goid znnnl sIlvc
together , lie ivomnlt.l favor binnnctallisunn. Tine
is the cqnmlvalennt of iiayhng tinat , wlmen tin
dollar wan , only ricing slowly auntl was orml
a I I tile 4 Ishommct , he tlinln't t hilnic nu uch of I
but , tinat as soon as ) t got to risiung ver
rapidly amid was 'very cliahonmest , lie fell I
love with It , now going to stick to It , on
muatter mow raiiclij t tiseo' .
I'LJT YOUR MONE IN TIlE VAULT.
I ask lnlnnmvitetlir lie would , it inc cotnit
have all mnatiomis agree Upon limo ( hoUiml
standarti of gold and mmIlrcr at a fIxed ratio
If inc nayn 3ee , tinop he alnnmits tinat there I
nnot gold enougin to do time buslumesn of tin
vonltI. No mann wino believes that tine gel
stanitiarti Is a good tinig vlll be Inn favor
Inmternatlonai hlnnethllieh : , anti me mmnust dune
denounce time gold mtannmiard as wrong , o
else ice must say tmat. ) time gold ntamndand I
all nigint , and tmmat hp ( hoes not \vanmt bi
metall len : .
I belIeve tine treecoinage of silver icili crc
nte a dennmand for Itt , lend that timat ( lenmmanci wit
Imncreau tine mince , and thit that wIll reduc
tine ptnrcinat'bmg power of gold , by nnakin
iii'er a connpetltorunttl they come togetino
it 16 to I , wincre they used to lie , and the :
we vIll inave a stable standard.
Under the pre.senmt systenni it Is eater , it. I
hotter , It Iv more profitable to nut you
money into a vault mind keel ) it anti earn tim
rise 1mm the value of the money , than it I
to put your money into enterprises and develop
volop the interestm , of tub country. M :
rniende , that Is the question he must nmeet
md I want ininn to show to limit , audiene
vluero tine gold standard ie going to hell
levelop tine resoinrcc.s of Nebrarhca. Why , in
nays that credIt Is everything. I want to asi
mini how me Ic going to restore confidenc
n tlmoie people whose property has becom
es'J titan tine amoumut of theIr debts. ( Ap
ause. ) _ _ _ _ _ _ -
l'ICE lOVN.titi ) TitiN1) ( IF i'ILICl *
hr. ( ( ) ( ' ' inter QmnslieN history ti
l'ru's'e his Pusitiijn.
Mr. Bryan wants to knox how we are gein
0 restore prosperity to Nebraska amid lno
cc are goinng to help time people wincac prop
rt3l ha been lost by reasan of timelr beimni
'a ' excessively Indebted ?
I will simply ansacr him in this way
rust as soon as tie and timoso others wini
gitate tine free and tnnilmitc4 coInage of nil
er will stop their agitation ; just as soonr an
inc people who have nmoney hoarded up ann
re molding it for fear that It will not hi
nonestly returned to tinem are satlafieni tim
hey are goinmg to get their mound haclc , ins
incim nnoniey as tiney have ioanetI , limit so .1.n
rosinenlty it ill begin to conne anti will con
intnti , and will be greater and greater arm tin
'oarm go by.
lie talks abaint time RotinchIlcis nini tinoli
lions to nnmake mnouney clearer , \Vinat doe :
ID know about nnakiong nnoney nicar ?
Tito ltotinsciniinlnn arc loaners of money , au
oar money with them mmmeans making z
anger inntercst onn tineir Investments , Now
icon , by entabllmilning time gold sianylarci ammlon3
eanling comnnerciai nations , mild timey hell
lnemselvea amnd make money dearer ? Momc'
winy is paying bnnt 1 ler cent Inn time city o
onmdon , and In time city of ParIs It Inns got
0 one malt of I per cent.
Winy Is It hunt money is getting so low
0 clneap ? Have tine itothucinllds conspired IC
make it so , or move they heomm foiled in al
heir connapiracies ? W'hy is it timat nuoney In
inoapcr 1mm tine United Slates today tinan it
'er mann been , and yet commnnmoiitles and all
lasses of property arc also cheap ? ( Laugh.
or ) . Winy Ia IL that property and all com
motlitles are cheap ? ( Laughter ) , I will aril
bat questIon becamni'o you tie not. scenn to mini.
erstamnti what I ann drivIng at. Property
nti conmmmmuomiities are cheaper becatmee coumfi.
once has been. destrayeti , becatmee tinero in
a credit any longer amid mnen chno can give
lie nroner accunIty ate seance annni few , but
lmo money at tine anme timno anti ioanabls
inds in tine Uznitnq.pates are cheapen' than
icy mayo even' bem. ;
INTEIIEST RATES IN 1873.
In 1873 I borrowed 39,000 In tinis city at
i per cent irsterest , amid I paid $10,000 in.
irent In clx year"ou the $9,000 of money.
m'anL to musk yoI whetiner mmnoney was
beiper then ? That was tine tinmne , tine good
4 timnmc when wheattm isas hIgh anti inen
I ) counnnnoiities ( . , least franu 20 to 30
cc cemmt higher ttman today , but yet nuonney
as dear , wasn't 1 , 110w (11(1 it conne that
money was dear ( ci , 'tiuoso days ? hiccainse
mere wan a gemnera Yenmanti back of it ; also
ecauso there was ability to pay.
Now , tinenm , tine pc'nplp of tine United States
aye cheaper morleY oJay tinan they innmvo
or had before. Tlne ommly timlnmg that lies
impeded the steady'I decline of tine Interest
to has been aithton of linninless free
dmnaga of silver. - It It hail not beemn for
mis time governimnenmi of time Umniteti States
nit ! have borrowed at 2 ½ per cemnt all tine
cmnoy tinat it wanted and It conlti innuvo
rrowed it , of course , chimer iii our mnwn
untry or abroad. Tine idea timnmt niomnoy
very scarce bore Is preposterous. SIx
ndre rmnillions of dollars inn goltl wore
fered to time treasury of tine Umnited States
few muontins ago , wben they were wamntlng
borrow ; ioo,000,000. Tinat this $ G0O,000-
or tine bulk of It , Is In tine Ucmiled
ates jtnst as much as it ever inas been
mmnot be doubted , Now let u look back
tine TOe , Steadily fronum 1870 ommwarti tinere
Lu been a commlInual Immcrease In tine volumnne
circulatimng nnuodlunnu. In 1873 there was
it any gold or silver in circulation , and
ere was probably nmot mnbre than i20 , .
0,000 of gold amid shyer in the United
ales treasury to meet the wants and de-
mends upon It to pay interest on tine pul
tlebt ,
Now then. niece 1873 , we have aecumnimin
between $500,000,000 mmdl $600,000,000 of
von and as rntnch of golCi. The total volmm
ef money metal In tine Unite.i States ton
Ins nninnai 3' ummomney ( for sIlver is imst as unit
pninnary money yet as gold ) Is atnomut $1
000.000,000. AccordIng to niny friend.
Bryan. the marvelous increase in the
mmnmo of money , an Increase timni has hi
away amend of tIme increase In omnr po
latlon , omngimt Inn have been also follomn
by an increase of prices , hint prices ins
gone down , wimile tine voiuumne of money I
alendily gone tnp. Now , what is time muse
all mis timcoies ; what is time muse of all
soplilnitry ? Mr. liryamn tells you that nobc
can tell imow mmiuch silver meould ad'am
In nrlco in case free anmti mnnllnnited colm :
is enacted Into law , bnnt we nnnust try
ccl. . \'ell , \m oil , that is a very mice proi
sitiomm ! That samne qmiestlomm was asked
time oilmen npontle , Mr. Ilarvey , omit
tlmotugint that silver nmmtgimt ativnmmnce as ImIgin
75 ceuts on tine dollar. and there is n
omne of time leatliumg silver agltatora of I
country that retenmds to give annywhere
nproxiummnte idea cia to m mitt we ninny
Inenil oem If tine go'ermummnemmt imimotmld veumtm
ann timis r'xperlnmmcmmt Imniepemmclent ( of any tl
netlorm on earth.
\ \ e know very vell timat timere is a "
nrccanionms conntiltlomi Inn conminnercial attn
inn tIme nat ion , and there are mmd as nina
mmmcmi , cretiItmrs If you please , anixietus
mace tinis goverumunent restored to Pr
periy. to have this unction do as large
'oiummie of bnnslmcss , as tincro are niebto
There are sonne wino sin not see their w
very clearly. Timey are not sure what pail
oinglnt to be inmnrsued. lIut Mr. liryan is
1mm doubt ; inc jdunges right In. lie sci
try it.
\'hy , sir , If a fellow cmi a ioconioti'
which inns onm a full head of steam , Cr :
amnt cintnck in mrmore coal , double tine aummoti
of steamun , keep piling on more coal and
Wimnt will happen.'imy , Mr. Bryan mvou
feel nerfeetly sate on that loconnnotive , I
om'enyinody In tine cars belminti it weulmi
In as nnumcin danger as time unman oum time tra
1mm fronmt of it. That is precisely tine cc
nlltionn lImit would confront ins wltim llnnitic
coirage , Timere would be a bmnst nip. ( A
plamnse. )
LOANS MAIiE IN GOOD P'AITII.
TIne idea that yotn could lmrevent a nnm
frcnnn nmnnkinmg any contract inn saw fit
unmake a mm ci ii nivi mm g I t Itu I II I lou , nrov Id ccl Ii :
it 'man riot agaInst pmnbllc policy , is lii
pnteromns. , lIvery loamn mmmdc by tine gover
mont mvms : muncie in gooti faith , Tine gayer
uncut banns were negotiated inn Englan :
Ilermmnanny and in Frannce Inn good faith
tine idea tinat tiney would be palti 1mm I
otanmciartls prevatlimig amuong civIlIzed ni
Lions , timid hot In time standard of Jnmina
iexIco and China , That is winy I say tin
Line debtor class of the United States
inane Intcres'eni in malntainnimig credits ti : :
ni ancytining else.
Take time Poor people here In Onnalna
mnywimere Inn Nebraska. Are they n
alone Inmteresteni in nnnlntninmimng time IItI
: rcilts they inave got at their grocers , timc
: ) utciners ammni timeir bakers thnan eveum in tI
lcprcciateti nnnoney tinat you propose to sin
iiy thenn ? They certainly are more inte
tcd inn prcvennting yj from doIng an
( Uch timing tinan they are In ailowinmg yn
lO do It. What poor nian woulti mvant
me paid in a currency that womnld not pmm
: hcase as munch for inlnn aS It does now ?
Mr. Bryan Inns stated , of comnose , that 11
anti mad mnotinlmng whatever to tb vithn tI
owerlnng of prices.
\\'ell , I will just cite lminn one Instanc
lie , in tIne comngress of 1892 , I believe , mc :
nstrumnmeuntal in knocking ( laWn tine tart
inn wool , lIe was one of tlnose In congre
m lno coulti not see a sheep go by witino
; ivinmg mmmi a kick.Viny , sir , Inc was
tnixlomme to relieve ttne farmer and labor
romnm time tax tinat ice had It renluceti , No
chat is lime resmnit ? Onnly four or five yea
go wool was selling at , from 30 to 35 ecu
L pound. Inn 1895 It was selling for 17 cemn
L poumnd. So he has lomvnyed irlces of tin
omnmnnonjity. lie has heipeti the farnner I
owerlug it , but I (10 not believe inc mci
no able to explain to you that tine refus
if tine governnnnnent to give us free anti un
milieu coinnage Is responn'ible for the ci
linne in the price of wool.
A PROPHET OF' ILL OMEN.
Yen ! , inndeed. me says ice can propinesy I
certainty that these crime boonm tinnes Wi
dunn agalum under a tree and munilmite
olnnage act amid mdli clnctnlate money a
Iommg tine lln.Vell , as a prophet of I
men , Mr. llryanm can take tine hahn. I
luncin , 1892 , In a epeccin mmdc in the henna
1 representatIves , Inc said that tue timn In
ustry of America (11(1 mmot annouunt. to Ofl )
icing anti never would amnomnnt to anytinini
nd yet today there are thirty-four great ti
milling eslabllshnmmentt , In the United Statc
nfl 174 tin plate c5tablishmemnts , expenciin
ometinimig lIke 4,000,000 for wages amnd err
laying over 5.000 working mcn. So mue
or hIs knowledge of what would happen aa
Inat ninny happen In tine near future.
Now , my fellow cItizens , I can do no bei
er timami to reid to yorn from a standard o
coflonmics that no gentleman will dispute
cc that Mr. Bryan must recognize as tin
Ighesi authorIty. Mr. Francis A. Walker , I
me last nmmmnmbcr of Econonnics , April , 189
aymn thnis-althomugln Mr.Valker deennia thu
i would be nleslrabie to have tine silver in
areete asaisteil as far as lo'sibie , to may
lie development of the mines Inronnoteci , ye
e says this ; "Proposed Inflation by inc
r govermnmnmont having for Its oinjt'ct tin
mising of prices annd the scaling down o
obtu , is a measure subject to the graves
npcacimmont omn groundnu not onnly of soda
astice , but of economic expediency , am well
t carries with it the sting of fraud ant
navec' behind it retribution swift , sure ant
rnible. "
"The moralist is not more stroongly bonunt
an Is the economist to domounnco ever :
neasmnre maying any munch deslgnn or effect
he difference between an lunflatlon of thu
money stnppiy duo to tine discovery of nov
nimmen and Iiold of tIne precionna metals , an ,
In inflatlomn nlue to act of governnnent may
ng tine dc'slgnn and purpose to ieale tiowi
ebta , inn Just as wIde cia tine difference be
mccc tIne natural ieatic of a mnIeniy nd
an , bringing hIs estate into tIne imands of
enerous amnd puinlic-spirlteni Ineir , at ss'inlei
suit all good macun may rightly rejoice , amnn
me nnnurler of tine miser for tine inurposa o
amnglng tIme ownereninip of mm property
imicin no plea of public spirIt or generosit
I tIne use of tinat property coulnl make ii
C comnnidered as any other tinan an atrociomni
nd detestable act \vontIny only of con
ennmmnntiomm and punmlsinnnnent , " ( Prolonnget
pplauao. )
lit. IiltYtN' $ ivIts'1' FiVIi MiSI1'I'Il
1'Iio OnunIse 1)nIiur 'i'li
For time sixtin timne I ask Mr. Roiesm'ater It
enlain limo Imnienest of the creditor class in
appreciating nitantlard. lioitaa not dent
, lie eaya that money is cimeap and prop
1y Is cineap , both ,
Vinat a delightful time imomust have mien
lien inc wana a boy , when inc was on thu
oter boarni anti had both ennls doms'n nit
mco. ( Applause.'hy ) , to say that linicen
so , is to i'.iy that mnonc.y Ia cheap , aunmi iu
in , confused tine rate of Interest witin tin
nrcinasing Power of a dollar , I msant himn tc
rn hula mninti UflOfl the subject once more ,
nil see it lie cannot ( Intl out what tine in.
ease in the ; nurrlmaming power of tIne dollar
eamnni to tine creditor clam'sVIny , I am
rainl that Mr. itosawater ( ices not want te
ulerotand winat we macinn by nicer cinoney ,
'cause it seenne to me that any inorson wino
ants to unnciorstand , can untlerstamnd that
cur money inn imnonoy that buys a great deal ,
iii tinat chitnin money is money hint does not
1 nnuch. lie says' ' that they mace cheaper
anne ) ' now titan tlmey oven hail , I wonder
, Iii an advocate of "cheap monmc'y. " I nUll-
'sod I was the advocate of cheap unmoney ,
cl now I aim to be told that ice Is advocat-
g tine hiresent dollar and tinat it is tine
eapost dollar uinat ever mad , ( Am-
ause. )
lie says that mnaeininery reduces prices ,
fl talks about nmnncinlnery in imls 0111cc.
lies the machinery in Time lice office no-
cod the innice of The lice ? ( /tininiaunme. )
a has mnot told uc tlnat it has reduced tine
ice of Time lien , Now , how wIll fro coin-
C , hnii'ip lime pniriterti ? I will tell you moss' ;
will res'tore prosperity. It will nmmcnko tine
epIc able to buy more papers , and then
U wIll need ninore people to print tIne
pers. Go on with tine oltl standard annl
arc will be fewer people able to buy papers ,
ci you will turn off mnian after nnman.
I'JITITION FBOM LA 11011 LEA IFIIS ,
I Inave hero a petition presenateil to Con-
L15 signed by all tine leaders of lIne labor
anizations of tine United SL'Iss i's r -
in , Hayes , Gompers , Imiellride , Arnohil , Mc.
Ire , Trener , Sargesat liutier , ltobinnnon
:1 : Arttnur-tbe hnenujs of all the , heading
nor Organlr.atlon5 throughout tbia United
, .
'
States. Timey demanil the fec's m'ciimnage
hlcer at time ratio of 10 to 1. a l'ln.imn mmci :
for th action of any oIlier inatbn ( inn en
Anti tmncy ktnow better isinat thnsy mm'amt
tInoe iw'ople m'lno speak for tinenum inn tine
tercat of limo cretlitor class. ( Applatmee ) .
Mr. floetsater says that sme Iimve nun
: aonmey nomm than over. I ask mmmi Io
tine e'tnmtenment mmnttilo my tine seere'ar : : of
treurmmry. I inam'e one lien' . Nnivennn'er
1c , , , , , it ahno\ms that there mmas in eIrctnial
i'm time Unmitel States on Noveniber 1 , 1 :
$1 & ' 9S.OCtO000. while on Novemnb 1 , me
Ldh'rc , tin'rc % 5'.iS in elreuniatlmmm $1m72fiOd ,
s . Have increased In 1nopmmlati'n tnnntl yet
mmiouiey is decreasing , anmil mmn are Ino.nnl
it mmii inn time treasury' ; tsstiiung bobtis to I
g'mil anti puttinmg tue nnioniey mute the tread
a'ml , locking It mlii vhere ttm" peJInlo cmi
mn'te II . I scant Mr. itOrtm nmtn'r 1) till
in 'im i.e is goiung to Itirnisim mmioniey to do
i'tisncici-'s of tine rotmmntr3 9 All of mmmr mmmc
is kept tip to tInt' gold stafltlar,1 , anti
tine mrli ic'i'nunse ,
g'ilti u , ses timrnnighnoimt mm
tint' Inmc'rc'isei ( lc'mmnanil for It , mill tine mmmci
atccnied , te It rises.
Auin tin , ' unman : m'ino omvns tIme drmlinr
Pt'sPet winilo the people auiif.'m' .
I ) s LV A M Ii'm'.t I. I' 1' II ( 'it A S I N ( 1'bVl
'l'lii' Ila'sislt nr minis ) ( 'itilinsli
( 'ulnnnge.
Mr. Bryan cieka ms'inethner or tint time
chlmnory in The Onnalna lice has nmiso cami
a reduction Iui tine inrice of Tine Onniahmn il
My fnienmti ins mnot mmcli inosted abctnt
mnemsmaper tiusimmemon. The lined ol
Omaha \'eekiy i3i4 whenm it wits eight pa
timnee or tour years ago , was $2 per annm
it is now 65 cents a year for teelve Pa
Tine Oninahna Daily Deem contains three tin
the reatiinmg nmatter mnow that It diii whom
innice of commiposltion asan 40 cento imer 1 ,
enins. ' 1in cost of tine telegrnituic diapatc
at tine lnrescnt tinmne to at least fomnr tiummes
hIgh . .a it was before tine n'mee et pa
( ier'IIn'tti ; so tin.it so far its time ciieiiu'ti
of cornmninntlItlt'a Is conccrued time publish
of limo lmren' leave folloms el stilt by chiemp
inmi _ ; unmelr papers and Iunnprovmi4 their qtmslI
'I ou cani totlay bmly tine nnmost benmtntlftnl nun
zinne at frtnmin 5 to 10 cents. lb.vs.i't that oh
the result of minnichlnery , or (1005 ( it ahoy I
agiintionn of tree nmnni mmmnliimmitefi coinui
( Aiphamnse. , ) 1)o yotn timinmk yotm cotnlnl get
muore 5-cent nnagazlmmcna to react for tine cc
mann 1)001110 , mviiicin roacin inuntireda of thi
sanncls of fannnilles mvumm' , mm mono tormnuenly
higher priced nnungazinnes m'ere omnly s'itlnim1
reach of the ricin. Tine chicapemninig of un
Inns not been ann mnnnnixeni evil , Wimllmi it I
caused mniuctn inardlehip , it main also bci'mu
great benmefit to time lnoople ( if tine ilul
Stintes.
0mm fnientl has taikeil a great nieal abi
thite emit : citnestloum : ' ' \'iny lo tine creditors
tine cotmuntry appear so ninmncim Imnteresteti inn I
gold stanvianni ? "
VOLUME O TilE CUI1IIENCY.
\\'iny , bt'catio tine credItors of tine counml
are hoanlmmg that kind of mmioney and n
asked to loan tinat kind of nmnoney. Un
Sam wotnldi not accept anythimmg else. N
then , we are told that there has inceni
great shrinkage in tine volmnmmno of cnurrer
inn tine last year. \'elh , thmat Is sm'omntlerfuh
In tine last year there has been a gm
sdnninlcrugo anntl silver mvent mm. I iom' ( IC
timat commie ? An otnnco of silver miami' Is mm'on
G5 cents , and It was onnly worth 63 cemits t
years agu. lImit let mime tell iilnnu m. Inetlier It
n't true that tine voltniine of primary Innonc ) '
at least toni timmnen greater now thenn it mm
in 1875 , Usa yearn after the great "cminmmt
amid that time volunno of nih mniomne ) ' Is nneau
, ioubio simat it was in 1873 , lioss is It tim
that in spite of tine doubiInng of tine volcir
able to at
of currency yotm have not been
the downiwamni trenti of prices ? ( Aiilaua :
You know tine reasan why. Amunenie
mnuechnanlcal ingenmnity , tine cineapenning
traiuporttmtiomi , tine Introduction of time tel
gmapit and of time telepimone anti electm
lights , electric motors anti nil time devices
mmnotiemn civilizationi brought witinbn
means 0' ( mae have cineauamu.I cornmuntmtlitin
Yomn kunow that is the fact. But tincre cm
those wino mdcc calnital out of discomiten
itnnl they are like tine old negro wIno , mm inn
ulced how ho was getting along , svmiti , ' 'I a
setting along very poorly , tinaunk Goni. " Tin
that they a
are all tIne limb thamnkImng God
getting aiong very poorly. ( Lauglmter ) .
Tine fact is , It womnid be ImpossIble for ar
safe prenlictioni. amimnitti
rime to innake a
that titemo mnlght be an advance in time prl
at sliver , The momnnent that silver scas comm
In unlinmiteti quantities annl that tii shiv
loliar brougimt to the mInt wins not won
InjUre ilium , say 75 cents , tine gold th
premiunn of 25 cents an
tar wouid be at a
could he enmtlrely out of circulatiomi ,
nan wino had a gold dollar , or paper doll
hat Was exchangeable for gold , would thIn
if excimanginng it for a silver dollar. TI
nilver dollar would linen be in tine shame
tinat they inave in Mexic
: lte eanno mmuoney
It would have a pmmrchasimng power exact
ho same as tine umnetal that is In it.
Is that the condition that tine inteillge
) COple of tine United States want to pluni
heir country mite ?
1cm there any benefit to tIne poor mean , ti
cage-worker , salaried unman , or any nnamn WI
corks for a living , in malsiuig prices an
naking the few doilams that ice earns uu
: iiase so much lciw than tlney do mow ?
all to 500 where tine debtor farnmer can 1
nemuefiteci , It every creditor mu tine land or
ot of tine lnnnd wino mad a dollar of nucnmnc
caned oul inn Ucla coumntry mvomitl imnmmnuetlIatel
nforco lilt , denmacnds for tine retmmrnm of iii
lionel at once there would be a crash foilov
ng that enactmenut of free sIlver such as ye
ever witnee'aeti before.
Nomv titenn , Mn. Bryan , explain to mis wIno
naio tine panmic of 1873. No conspiracy Inn
crime perpetrateni before tina
ore tinat , rio
Ithougin crimes irmnmummuerablo were perpi
anti depnecic
rated by silver domonetlzatiOmi
ion. limit yet , In spite of that , tim people C
ho United States in 1837. when we had fre
witnessed one of tim
ntl ummllnomlteni coinage ,
cost illsastromns ikpreclationni and crises tins
as over overtaken tint' mation ; amid nngalr
in 1857 , an(1 again in 1873.
Now , wIll these great wlnteacres explal
ems' It Connie that tIne people were wnrkln
t merely nomnninnah snmnnna 1mm ' 37 anni ubomm
mat tiune wiieat Inn tine state of Ohio win
cUing fromu 8 to 10 eemnts a imuaimei auti tine
ad no nneans of cunveylmng it to market be
ause ( lie traumsportnmtlonu cost was so oniucl
neater than time anuommnt they could real
when work
remunember persoumaliy
Ce. I can
gmen wera glad to saw a cord of 11mm
rood , of hickory , In time city of Cievelannd
m 1860 , for 75 cennts , annni It took ten hnourm
ror to tb it , In tinome days of free acm
nnlinniteci coInage Unity micro not aide
Urchnre nini much of the comunnmnniltles 0
fi ? , neceitie of life , a. they nb tcnla :
in their macfey.end yet thni'se people ar
iIi tinnit tIninC will be a tietternoment of thne
amid Itiomn , _ _ _ _ _ _ _ _
' , 'I' M I NIi'l'iii
iItYt N'H SIICN ) I ) Vl
InnISH to ) I lii
Ami
nlN il ( in4
'J'im riar.
Mr. itosess'atL'r says that they have twin
C much prlmmnimry mmioney mnow as inn 1873.
Mr. itosewater-Ton tinnes as mmmcm ,
Mr. Bryan-Ten timmnes as much. I wine
I call imla attentionu to tine fact that ii
73 tine greenback mvats stnnnnnlnmnil onnonc' )
cause It was ; not a imrommmlse to pay that
ulni be nenleenneni at that tlnmne , and w
ed nearly as mmmany greemnbacks 1mm circin
lion in 1873 as % s'o maYo guiti dollars In
rculatlori In time Unmited States today , nil.
otigli our population inns greatly Increased
assert tlnat tinero is riot In tine ( Imnited
ates toilay $400,000,000 Inn golnl. I lcnoss'
at tine treasury report gives over $ C00-
0,000 , intit I will asic Mr Jtosowuter to
Late that nmomncy. lie eaminiot iocao much
er $300,000,000 of it , amid when Mr. Car-
lu Wits mmsketi wineme it was , where tinis
her $300,000,000 was , inn said It was what
in , called the "imivislinlo gold , " I want to
k Mr. itceewater If lie can tell yam where
ft invisIble supply of gold Is , If we have
this country $400,000,000 , anti I believe
at Is arm otitsinlo Ilgure , thnsmn we have Inn
0 actual mnommeY winlcin nnieasUrea vuhue hut
I I t tIc mnnore , I f arm y , t bait we Ina(1 I mm I 873 ,
twjtinstanniltng tine increase lu our Imonu.
ion.
'I'll/mT l'/mNlC OF 1857.
lie wants to know about InanicsViny , the
rile of 1857 was due to wiltlcat Imamnks ,
e mmdc Itrommmiscs to pay amil coulnin't may ,
ni there was a client jianic. Our panic of
13 was largely duo to tine comntmactiona of
a currency going 0mm , We were drawing inn
'ney annl in'nmuimng bonds in imlace of it , mnd It
inn contracting the mnoney mimi meniucing
Ices , aind 11w crash toiiowemi , Arid St ice
cs about tIne mnanic of 1893 , 1 woulni say It
a brought about by samune of the firuanclera
tine counmtry 1mm their sttenmnpt to force the
nle to roped limo flhermnnan ; law dmnI raise
I value of gold , ( Anplaunne. ) Free ccnlmnagu
silver In. an experlnrmemnt , arid no one can
f bow mucic ailvep will rise In valu , All
I
, isTaton i.'t experlmnentai , Thin Now Vonld
itaiiers irisisioni , mmhnen thno hlland act * n
I in.nPi'tl , limit It us otmiti nun the country anti
I the eotmnlry's etetlit , anti brlnng time country
to tiestrtuctionm ; anti wince timey' repealed lb.
I Simcrnmann lass' all the goltilmnug prophets
, toltl ins It wotnlti restore prosperity and put.
tin' on tine imigh noani to good tunes. They
I trieti it. it was an experlnnicnit , It iis taiieil
f ammni mie are in ci morse contlitlon new IliaC
I before. Vhy , they aaltl tine Slnemmmunsnu law
\mas inivimig gold otnt of tine country limit.
It 1mm noinmg out still. If iso hiat tIne free
CoInftsc' of sifter , wimenu otnr gold vent
abroad , "SC' mmcmlii imnv time' silver to mnr'e ,
I
hint unmntlcr the gold stamntlarti mm'o mb mint mayo
I silm'er to mi&'e. Nemm' , nnny' friends , you eanmmot
tell tln effect of legisIntioui until yoim try It , -
I hint mme believe hint tints natiomm , with
I 70,000000 of ia'op1 , tine muost enuergetle , the
I mmnnr't Iii odnnrtim'e IiCCminlO 1mm I lie tvonitl. zmmmnl
imensInle mime cannemnnnmt' mmnore tlmnnm amy other
I equnal nmmnummber of PeoPle cmi the' glotne' , we be.
t lieve thnt it timirm itc'ommle cotnid go forward in
thifl tumnbuiitlimmg of time comnmnnorce of tints
camnumiry , no mnnnne silver tttiiti eonnme morn
metier tine fret' atid mnmniimnmitetl eoinnmgr' : of
silver thnanm smotniti its. renitmlreti my attn triple.
lit say's tlmat if We mad free rimiummmge of
diver , gold womnlni go omit of m'irrinlatitmn ,
I \\'iny , nni' fnlemntle , mm ( ) smomnimi mayo a remit-
pet it or of gohil. nu inti t inn t comm lieu I i F. got mug
I omnt unto tine nimarketni of tint' vorlti , woinlil
I tnk tine untncsimn if of time gold , aund gold
I vemnlni fal I in its mmmi remus i mu g newer , anmnl rio
I unarm ms'ntniti macru that mm'hietm It ms'nmp mnmere
Iirofltmninle to set nil of ammnl inmve"t.Ve Irnanmi
I niommey nmomv , mviny ? lieenmnu.o mve are nmnaklng
nnnomey ilearer emery ( lily' . It lii tine gelti
stnmmtinrdl final rmmakes it so. ( Ainplamsee. )
( fl1.u ) IN 'i'Iuii HA IS ANI ) V.tl'm.'i'4.
Mr. hiorsnmt'r ; ; ' ; ; : ; rliiM .trvnny ( If
i'ltvsnreM.
Tine inoumoroinle gemnti eumnaum inas tinkern unpon
inimmneeif to eoumtradhct tine n'immtennmeumt of time
secretary of time treasury of tine Ummitc'd States
at , to tine ammiomnnmt of gaul In tine baumk m'auitni
cmnd the smnbtreastnnien , nmnnti inn clrcuinmtionn mm
time Unmhtt'i State-q , annii me in called unpomi mime
to give hum tine ( leflmmite figures.Vell , I nl
not tinink that I amim call'Ci ( upoun to (10 any-
timing of tine kind. Evemn it I m'ere tn (10 it ,
I amni mo better cmmntimonity Ilium timmi seeretnrT
of time treamtnry. Aim ) ' mmnatn nmmighnt coummd' Ime'ro
today.aumti conntmadlct tine secretary of trean- ,
mmny conncernnimmg tine nmmuommmmt of tmonmtia , con-
Cennimng tine annonumnt of nnnemne3' in lIne tn'eaii.
ury , comncenunlng tine annnonnnit of imicincy 1mm tine
varlomne nmational bammlmi. l' mm'ommlil innm't' jnnst
as nmmmmcim nigint to commtmnllet , mmmi arm Mr ilnycmn
lmaii inn regaril to tIme 'cnimmmmme mf goiti inn tine
conimntmy. flint muIilce it to any , that $ Gkl ( , .
000,000 in golti mmas offereti to tint' govomnmnmienit
of tine Unnltcd Stntes : , I itelieve , frt > nmm 'nnIosma
sections of tine comuuntry , numi , I rennntnnmber
somune fronnu tIne city of Onmn'miimn. mvlmere there is
StiphOsttl ) to be n'o very little ummuney.
Nom' , therm , if there ices $ C,00,000,000 , or
evenm $500,000,000 1mm gold in time inanntln' of
lmlvato cltizenm' amid Inn olin bamnkm' , re3dy for
banns to the governnmmnemnt of time Ummiteti Stmntes.
I take It that tine sratcnmemnt of tinti recre-
tary of tine treanmmry Is mmnminmmpeaeinatnle. linnt
mm'lnat of tinat ? Tine t.mct reumialmis mmmi cammnnot
inc disputed , that mve have toilay a per raliIt
of at least $22 , amid that 1mm larger tinanm army
we have mmii sluice 187.1 , annnl yet Inrices have
beeni going , lomm'nn , lImit what does It nn'atter ,
amy mvny , tinlim ncr capita ?
AI'OSTLE OF IIAILVEY ,
Timls immnnmhmng tinat has Clelutioli so umnany
people. Snmpposimng that ten mmmcii inn this city
mad $10,000,000 , anml , 100 nmmen $1,000 each ,
that mvomnld mmmnke $10,000,000 anti $100,000 in
time city of Omaha.'hnat wonnlni tine per
capIta be ? That womnhci aliosm' onmiy a very
smuail mier capita for tine balance of tine
people in Omnaina. It Ii all rot about tine
per capita talk. Time effect tinat tine iner
capita volunmie of curremicy has 0mm Inrospenity
anti better prices is a fignmnemnt or tine innagI-
nation. It ciuts no flgtnre.
\\e Imave benimn told lucre. of commrse , that
Mr. Sovereign , wino Imagines inmmselt time
sovereign of all Amneriea , timat Mr. Sover-
elgn , sayni free cnmmtl unhlmnmlted coinage of all-
ver is the true rennedy for umationmil calanmity.
I mayo aloe heard that Mr. Powtlcnly imac
something to say on tinls subject. unit what
do these men kunow. how much tlnme have
they givenn to tine stmmtiy of national flnnancea -
beyond surface tinotuglits and mnarrot nepeti-
lion of what other people say wimenn we tmaco
theun clown ? All ttnese mmcmi , reeniiaclc-
era , every one of tinemnm , acnci they are blind
apostles of Iliarvey. Like mont every otimer
leading agitator for tine free anti unllnnlted
coinage of silver , tiney do not belIeve In
silver at all. They believe In notining hint
paper enoney , amid It is omniy tine wedge by
mm'Inicim they wisin to drive limo fiatlsmn to the
front , Tiney believe that a atamnnin upon a
piece of leather or PinIC is as good as a
stamp upon a pIece of gold , anti they do not
believe in tIne primary money theory at all.
So this talk about the SovereIgns anti Pommi-
nierleyn will riot deceive tine intelligent mm'ork. -
lrigmen smimen tiney came to vote this fall.
They will simow the Sovereigns and I'ow' .
ilenleys that they are more Intelligent ani
conservatIve than they are smnppeseni to ho.
runt is wimat will inappen at tue inext corn-
lung election. _ _ _ _ _ _
MIt. Inutl'AX'S 'FIIiILi ) F'lt'II rrxt'z'rs. ;
4
lIt 'i'n.lks of tlI ( ' i.nnsv of Smnpisly nnmml
I ) ( ' 'iv in minI
Mr. Resonator cays tinat it is met imncminn.
nent mnpon hini to tell Us mow much gold
hero is 1mm this coumniny ; that we camn rely
mpon time estimate of time secretary of ( mo
.reas'ury , Time aecretary'n estimate Is good
f it tin baseti on rometining , bunt if time scene-
any basis his estimate upon a mnmcro guess
nd says tinat malt of tine estInnmatcti gold is
'iflvIsiile , " you can. see au mmcm of this In-
isibho supply as time secretary can. and I
midst cmgaimn that Mr. ltososvater shall try to
how ins where timia gold Is winichn ho says
S In tine cotnrntry.
\llmy. inc talks abount tIne deImnsion of a per
apita clrcmuinthoni. , Yes , winy does Inc not.
alk ahout tine tleitushomm of per calnlta miheat ?
in ) saul a meimile ago tlnat , If the vhmeat crop
till off per capita , tine price of
nineat. would go mm , Wlmat inns ncr capita
0 nb witim winoat ? 1Vlny , inimimply hum , tine
ore nnnoinths yet : have to ( neil , ( lie mere
imeat you have to raise. I'er capita is
elated to nnmommcy in tine ammo way. The
aore people wino imnuve to hare rmnommey , tine
name money you have to use ,
I demnnmiii that he small nninow you where
lie Peoltlo are to have arm inncrennso of mmiommey
ii tine PiiUiatiOn ijicrensee.
I mare nminown himun tlnis titumtenment , sminicim
mows mmunnetinimng lile $80,000,000 less thIs
car than last , and I denmamnti that lie muinall
nosy you where you are goIng to get tine
: ommey to Cisc ,
My friends , this law of iimmpply annni do.
maCnd relates to mnomney as well as it .iee
) everythtImig else. If yarn Iumcreaao tins
emnamnti anti let tine supply remain tine same
elm raise tine price. if you decrease Un.
mm'rly arid let line dermmaind reinmain tine seine
on raise tine mince. If you decrease tine
rmionlmnt of mnommoy and time ( lemnmand romaine
no mmcmiii' , tine jinice of nnnemney will rise. anni
ask minim now ( or the SeV'flthn tinino to tell
flu what interests tine crenlitor class has i
rIsing dollar.Vb ) ' does lie avoini It ?
'lny ? It cart only ho because ho knomsit that.
no creditor clannitc'nn of tine world are In favor
r tine gold standard , because it. In raIsing
10 value of the lirolnertY they mayo ,
GOLI ) irolt 'Full IIONDIIOLIEtS ,
Tinaro Is not a man In tints town who
vms real etato wIno Is mnot interested in
tyIng real estate go nun. A rnnan wino owns
1gm is Immtomented In inuring tine inrlce of
igs go UI ) . amnil tine man wino innis money
Interested in having tine innict , of mmioney
p Up , Tine gold dollar ummakein money go
I anCi time people wIno own mnnommey profit
, It. Annil I Insii't that those Incoinlo wio
mu money profit by the rise at
a gold dollar ami tine InsT
ynmis of Industry.tnCi theae are cot the
en to telh tine laboring nnann what ha
cds aS a laboring miami. AntI such inca
mmmnot instruct tine laboring mnnmn. Tincy nb
it Ivo the laboring roan food , Amnd winen
u mnake It uinprcifltaiile to Invest mnonoy
emnlerpniso you iniako it hard ( or tine Ia-
ring mann to tied work , Mr. ioaewater
ymn tine civilized nmutlorns of limo world want
Id , I musk inlmnn to show you a single na.
nm where tine commnon people have ovet .
dinned tinerunn'elves 1mm favor of tine gul't
uinlan'ml
Tine Itelebslag of ( lermany , about a year
0 , declared in favor of bmnetmnllisrn ! be- '
use tine gold standard has been a nurse to
e cvrmnrnonn PeP1 of ( Ienmnanny , bnmt tin
trim Clianniber of Cummnrnc'rce has said that
mm gold standard Wand all nigint.
Go to tine peninsula of Ireland and tim4
rnners of England annl they will loll yomi
at ttmey imave beeim grourmnl down by tin's
lii atamndard , but One bormnliioldirng class of
a world , smlnicim can iniake Its proIts lnv
yln bonds anti seliio Its o1d to j
. . , ,
- - l .n --j _ ' - " - ' . '
