SUPPLEMENT TO The Heppner Gazette fcdlted by the Mckinley and iiobakt club, Hki'Pner, Orhoon. I'RIDA V . , .OCTOIIKII 1. I MM I. CARL SCHURZ The Eminent German American Statesman for Sound Money AND GOOD GOVERNMENT Facts, Arguments, Logic, Wit and Sarcasm in a Masterly Manner. WHY PRICES HAVE DECLINED The Alleged "Crime of Seventy Three" Has Not Made Our Goods Any Cheaper. The Consequence of a Free Silver Vic tory In November Would Be Panic, IlMiikruptcy and Universal Itlatren ami Poverty -Free Coinage- at Six teen to One Meant Silver Monometallism-Wages Will He Cut Down ami Half of the People's Havings Loat. , Hon. Curl Bchurr., cx secretary of the In terior, dullverod an address on Boptember lih, in Central Muain hall, Chicago, on the is inns of the campaign, under the auspices of the American Hunost Money lenguw. Kvery neat In the hall wan fllltil, many persons whu de sired admission being turned away fur lack of room. Tim address In part wan an follow! : Pillow Oivir.s.ts-1 have coma from the Bast to ths west to apeak to you for bonest money. I do not Imagine myself to be In an "rnniuy'a oountry." ThiTu la to me no tntt luy'a country within the boundaries of thla rc- rulillr, Wherever 1 am among Ann ricana I m atnosg fallow eilixcti and friends bound together by oom nion Interest and a common patriotiam. In thla ailnt 1 ahall discuss the Question of the day. 1 ahall not deal its Anan pal philosophy, but 111 hard and dry Iwk There are sporadic d 1 anon hint a In the oonn Iry, partly genuine, partly produoed by aril polal agitation. They may be apanlned thua: finer art farmers who eomplatn of the low prices of agrlunltural products; laboring man pamplalnlng of a lank of reinunerattve em plsymsnt; men In all sorts of pursuits com plaining of a general business stagnation and tf a scarcity of money. In tome parts of the roantry, espeetelly the south and west, there are many people complaining of a want of capital and a ton high rate of Interest. The try for more money Is the favorite ery. These Sire ths principal and the moat definite cum pUlat lleyoud them, however, an Impres Via has been spread by agitators that an or faalked eoatptracy of moneyed seen, mainly tveat bankers. In America and tn Europe, lack ad by the monarch and krlatocreclea of iae old world. Is seeking ths general Mtnkllvh beat ef the gold standard of value to monopo lise or comer the world's money so the gen grl detriment. All this has found definite stpreealoa tn tks tallowing derlaratloa of lht Chicago platform: W dealsre tkat the art of 1171 drraunettslag ftWer without the knowledge or approval of law Aetrtta people kas reanlUwt la the ap- C elation of gold and eorreapondlag fall In prlees of rommodltles produced by the pople, is keavy Int-rcaM In the burden of kasalloa sad of all debts, public and private; tae earti-bmenl of the moaey lending elaae at from and abroad, prostration of Industry and laporrtliianl of the petrpla." Mark wall thai all these evil conenjuennee are aet-rllied W she demoaellsatlnn .if sliver In Iba I'nlted sUslas alune-Bo to IU denionellsatloa any wbaraalee Tble le to Justify the praannl. i at a sufficient remedy of the free eolnsge i . decline In cqVs, oats, rye and ootton. la 1877 there was ajhotber rise In wheat, carrying the price above that of 18T0 and np to that of 1871. years preceding the act of 1S78. Evidently so far the 200 cent dollar had not made Its nark at all. But I will admit the possible plea that, as they say, ths act of 187a having been passed In secret, people did not know anything about It, and prloet remained measurably steady, in ignorance of what dreadful things had hap pened. If so, then it would appear that, If the rjiowing ones had only kept still about It, the gold dollar would have modestly remained a 100 cent dollar and nobody would have been hurt. But, seriously speaking, it may be said that when the aot of ltf78 was passed we were still uHing exclusively paper money, that nei ther Kld nor silver was in ciroulation, and that therefore the demonetization would not be felt. Very well. But, then, in 1S79 specie payments were resumed. Metallic money cir culated again. And more than that, the cry about "the crime of 1873" resounded in con gress and in the country. Then at last the 200 cent gold dollar had its opportunity. Prices could no longer plead ignorance. What hap pened? In 18S0 wheat rose above the price of 1879, likewise corn, cotton and oats. In 1881 wheat rose again ; also corn, oats aud cotton. In 1882 wheat ajid cotton declined, while corn and oats rose. The reports here given are those of the New York market. They may vary somewhat from report of farm prices, but they present the rise and decline of prices with substantial correctness. If, however, there be somebody believing that, intpiteof these facts, the demonetization of silver by the act of 1873 must in some mys terious way have done something to depress prices, I meet him with ths affirmation that the silver dollar was practically demonetised long before 1873. To judge from the speeches of our free coinage orators, the American peo ple must before 1873 have fairly wallowed in silver dollars. What la the fact? President Jefferson stopped the coinage of silver dollars In 1808. From 1783 to 1878, aside from fraction al currency which since 1853 was only limited legal tender-only about 8,001,000 of silver dol lars were coined. They Were so soaroe that you would hardly ever see one except in a curiosity shop as a rare coin. There was constant troublo with the legal ratio betweon gold and silver, which could not be so fixed as to keep the two metals to gether in circulation. Once one of them would be driven out of the country and then the other. Meanwhile over 11,000,000,000 of gold coin was ooinod, and Blnoe 185b gold was sub stantially the only full legal tender money in actual ciroulation. And those were excep tionully prosperous times. Then the civil war came and swept all our metallic money out of sight. Paper money took its place, sad In that condition wo were in 1878, when the famous act of 1873 was passed. What, then, was In rsality that law that has since bean so fierce ly denounced as "the crime of 1873?" Why, it was simply an act revising our coinage laws and providing among other things thut oortain silver ooins should be struck to be legal tender in the payment of debts on ly to a small amount. The standard silver dollar, that had practical ly been out of use since President Jeffer son in 1809 had stopped Its coinage, was simply not mentioned In the enumeration. That is all. The act of 1878 therefore did not create a new state of things, but simply recognized a state of things wmoh hud cxliited for many and many years. It did thereby not only not destroy half the money of the country, but not a single dollar of it. Why Prices Have Declined. But what is it, thi n, thut has caused the Ad eline of prices? 1 appcul to your common sense. Do you think that when one man, Hid ed by machlanry, does as much productive work as formerly ten or inoro did, and when our modern mnausof transportation carry the product from tiie producer to the coneanior with flvs times the speed at one-11 ft li the oost, and when tn the transmission of intelligence time Is quite and oost almost anuthllatod, do you think that then the product of human labor should not In due proportion become cheaper? If It did not, than modern civilisa tion would In one of Its most Important and Isinefcebt funotlona be a flat failure. For what Is the Inventive genius of the age that devotes itself to practloal objects engaged In I what else thsn In devising and developing j means and methods by which the things re quired by mankind for the tuatcnanos and comfort of Ufa be made better and more easily attainable tbst la, cheaper? The farmer In the United States welcomed the agricultural machinery which helps him In planting, raising and harvesting, bis crop, He welcomed the railroad, the steamboat, ths low freights, ths telegraph, which shortened the dlstanoe between bis farm and the market, and the banking arrangements required for moving and selling his product. Hut as near ly all our farmers bad the same encourage ment, so It followed quite naturally that the wheat crop of this country Incrvased from an annuel average of 811.000.000 busliels between IsTU and Iswu to an annual average of stt.OUU. 000 buahale between IMJ0 and 16. But sun foreign countries had the Boouraging benefit; new wbeetflelda were opened la Huaste and the Argentine Repilblle and elsewhere, and. according to itradatrtwl't, a very eotnpatonl authority, the wheat product of the world grew from W to IHH no leas than UB.0Uu.0U) huehela, while the world's eoiiaainpttna Is es timated to Increase only I2.OUO.UUO to KI.ac.UUU bnshels annually. When the Increase of the world s supply thua gains upon the laoreaas of the world's demand, ts II a wonder that to the world's market, which rules the prtoe for all exporting eountriaa, that prti-a should have declined? Is not this an titllnltuty snore ra tional iplanallon of the decline la prices than that decline to the so railed de did that recently in a most conclusive manner. I will only add that I was a member of the senate at the time and know whereof I affirm, and I emphatically pronounce all the stories about the act of 1873 being passed surreptitious ly; about senators and members being some bow hypnotized, so that they did not know what they were doing ; about some English man being on the ground with much money to promote the demonetization of silver, and so on, as wholly and unqualifiedly false. I wish to be scrupulously courteous to my opponent. But as a conscientious student of contempora neous history I am bound to say that in the 40 years during which I have been an attentive countries in which thare is free silver coinage. ebserver of publio affairs I have never wit- Why should they nut? Because, if they have neseeu nor nearo. ra wren unscrupulous, sname- their bullion coined, they get legal tender dol- tFiJ&l tfeJi' Tr Ti .rJnlf.K" la" for ' f 6e " market tic lying a has be;n and is now done with re , , . . J , ... ... , gardtotheact of 1SJ8, its origin, its nature I hey get there legal tender dollars likewise, and its consequences. j " 'lH therefore hi a more question of special What Would Follow Bryan's Election. I nnience whether they take it to the mint . . , or to the market. And in the market, acoxjrd- ooBiuer now waui lum injineuiabe cone with Mr. Bryan's election, the silver dollar, I with their dependents it may, for au?ht we measured by its purchasing power, will be I know, amount to 115,000,000 or 120,000,000. Who worth not a cent more than the market value : are the debtors of these creditors? The buv of the silver contained in it. If the market I Ings banks had, aocording to the reports of slue of that quantity is GO cents, and you 1894, loaned out about one-half of the money present at the mint 50 cents' worth of bullion, fou get back, not a gold dollar, but a silver iollar worth just 60 cents. You might, instead Df taking your bullion to the mint, sell it in the market for just the same amount of uon sy. Indeed, bullion owners, unless they have some special reason for tuking their bullion to the mint, will take it to the market and sell depositod with them on real estate mortgages and invested the other half in United States bonds, state, county and municipal bonds and railroad and other bonds and stocks. The in vestments of the life insurance companies were about proportionately the same. The in vestments In real estate mortgages are always preferably in large amounts, on property be lt there, as they very extensively do in all j longing to comparatively wealthy persons or to business corporations. Jims the debtors to these creditors belonging to the toiling roast-s are the United. States, states and municipali ties, railroad and other corporations and per sons very much richer th:in the creditors. Here we have, then, rich debtors owing to many millions of poor creditors thousands of millions of dollars. Tho silver orators pretend that thoy hnve tin toiling masses greatly at heart and thrt free coinage is to be introduced mainly for their benefit. How do they take care of the toiling masses in this case? By bringing us down upon tho silver basis they simply cut down the thousands of millions of invested savings of poor people to about B0 cents on tho dollar. ing to all human ruason and experience, its j price will, temporary fluctuations notwith- ' utanding, remain on the whole very near to ! the figure of the cost at which it can in large j ljuantitics be produced. Jlr. Bryan's strange ! tnaginings have therefore proved only that I when he speaks of government purchases of I silver and fixing prices and creating a de mand greater than the supply, he simply does not know what free coinage is. Every sensiblo person, I trust, will now ad mit that free silver coinage in the United States alone will make bimetallism, tho equal use of both gold and Hilver as money, utterly Impossible, here as well ns abroad. It will confirm Europe in gold monometallism and condemn us to silver monometallism the ex clusive use of silver as money and of paper baxed upon silver. No doubt this is what the silver men are really aiming at. How Free Silver Will Work. Let us now consider how it will affect the various interests of the people. The first blessing we ore promised to flow from free conage is a general risu of prices. This means that the silver dollar will buy less than the gold dollar did, and this for the reason that it is no longer worth as much as the gold dol lar. Evidently the promise of bimetallism, of silver rising to its old price on the one hand, and the promise of higher prices owing to a less valuuble Bilver dollar on the other band do not go together. The one or the other is a fraud. Of course the fraud 1b the promise of bimetallism. The rise of prices owing to the debasement of the dollar will begin at once as soon as gold departs und we slip on the sil ver basis. Bread will be dearer; milk, coffee, sugar, tea, meat, vegetables, will be dearer ; clothes, shoes and bats will be dearer; rents, furniture, coal, kerosene in short, every ar ticle the price of which can bo raised by the seller. High prices are a two edged sword handy to the seller, but unph usant to the buyer. They press, of course, hardest upon those who are compelled to buy most in proportion to their income or their earnings. And who are they? The poor people. What a rich family spends upon the actual necessaries of life, the indis pensable food, clothing und shelter, is very little compored with its income. Most of its expenditures go for things that are not neces- quences would be if Mr. Bryan were elected president with a congress to match. Mr. Bryan would of course be anxious to have his free coinage law enacted, but that could not be, even if he called an extra session of congress, until some time in April or May, five or six months after the day of electiou. But as soon on the 4th of November as the re sult of the election was announced everybody would know that the parity of gold and silver would not be maintained. It having been made certain by Mr. Eryan's election that the parity of gold and silver would not be maintained, there would be a rush upon the treasury for the gold in it by persons holding greenbacks entitled to re demption, and the gold reserve would be ex hausted in a twinkling. Gold will instantly disappear from circulation to be hoarded or exported. Why will it disappear? Because every sensible porson when making a payment will prefer to make It in the less valuable dol lar and hold the more valuable gold dollar back for more profitable use. Gold will there fore quickly rise to a premium, and we shall bo on the silver basis long before a free coin age law can be enacted. What docs it mean to be on the silver basis? The word "coin," wher ever it appears in the law, will no longer mean gold, as it was so far understood, but silver alone. The greenback or treasury note re decmble in "coin" will no longer be redeemed in geld, as heretofore, but only in silver. The United States bond payable In coin, no matter whether gold was paid for it or whether it had beon sold for the very purpose of buying gold for the treasury, will be paid, principal and Interest, in silver repudiation as flagrant at the world ever witnessed. Our daily trans actions In buying and selling, in paying and receiving wages, will no longer be carried on upon the basis of the gold dollar worth 100 cents, but of the silver dollar worth 60 oents or thereabout, for the government will no longer hold up the silver dollar to the value of the gold dollar. That is what the silver basis means. You can study in Mexico bow it works. The quantity of gold vanishing from circula tion will amount to about tOOO.OOO.OOO, the dis appearance of which will make a tremendous hole in the volume of our currency. Noorly one-third of It will be gone, and what remains will be reduced nearly one-half In purchasing chasing of which may be suspended or post- power. But, says tho silver man, there will be i poned without hardship. But the poor family, free Bilver ooinage to fill tho gap promptly ! th" wage earner's family, is obliged to spend with coined silver or silver certificates. Oh, 1 very largo part (.f its income from riny to day no. my fellow suffsrers. The disoppearance of ' "Pon f"'1' clothing, shelt-r, heat and light, gold will happen promptly after tho election ! "'"' ,''8, teimiornrtly dispensed witn of Mr. Bryan, and there will not possibly be without hardship. 1' r.nu a rise in the prices any free coinage of silver for at least six ! Jf thn necessaries of 111" the poor people there months, and It will require a great many more foro Huffur "y 'r the most, mouths to fill a gap ot li'iOO.Ouo.OUO. : Where the Wage Karuer Will Couie In. The Free Coinage Panic. How stands thu casn of the wago earners What will happen meanwhile? Tho St. Louis whose product can be raised In price propor-Ohibe-Democrat reports Mr. Bryan to have tionate to th debasement of the dollar? As to enrich the east? Yes, and so it baa enrich ed the west. Their wealth and grentnees have been mutually buiit up by the harmonious co operation of their brawn and brain and money just as the blood of the east- and the west mingled on the common battlefields of the re public. And now comes this young man, as If we had not suffered enough from sectional strife, and talks of "enemy'B oountry 1" They seek to excite what they call "the poor" against what they call "the rich" in this land of great opportunities tor all, where, now as ever, so many of the poor of yesterday ore omong the rich of today and so many of the rich of today may be among the poor of to morrow. Their candidate for ths presidency 1 presi jted a characteristic speutacluAvhen som.; : tims.iijohH was kindly shown over the farm i of the governor of J'ev York, who is himself nnex .upleof the o-or country boy risen by able ui.d honest efi'irt to affluence und distino I tion, and when that caiiuiduta ihr n straight ! wny in a public speech drew invidious com ! parisons between the elegant houses on the . Hudson and the poor cabins in thu west teaching not the true American lesson of sue i coss won by honest industry, thrift and enter 1 prise, but tho icaf.on that those who have suc ; ceeded less should hate and fight those who have succooded more a lesson utterly un- And for whose benefit is this done? For the j American, unpatriotic and abominable! benefit of the debtors of these poor people, who will gain about 50 cents on the dollar. And who are they? Aside from the United States and the Btates and municipalities, those debtors are railroad and other corporation:) und more or less rich men, whom our silver friends profess to abhor very much as belong ing to the "money power." Thus will the silver standard bleed the poor creditor for tho benefit of the rich debtor. May not the toil ing musses pray heaven to deliver them of the free coinage friends? Ilow the People's Savings Will Fare. And what have these friendj to say in their own defense? I will again let Mr. Bryan's New York oration speak. He says first, with regard They tell the farmer most cruel deception that he must and will be made independent of the world abroad, while year after year from 500,UA,000 to 1700,000,000 worth of our agricultural products must seek the foreign mnrket to find purchasers and while nothing will hurt the farmer more thun a serious im pairment of the great home market by u busi ness crisis. False Friends of I-abor. They proclaim themselves the special cham pions of the toiling masses, while their polley would rob tho laboring man of half of his sav ings mid grievously curtail the value of his wages. Am i asked, if the silver standard will relatively reduce wages, why so many to the insurance companies, "Since the total j employers of labor are opposed to it? The premiums received exceed the total losses paid a rising standard must be of more benefit to the companies than to the policy holders." How wise I And that the companies may not have this benefit he proposes by the silver standard to strip the policies of the policy holders of nearly half their value! But does not Mr. Bryan know thut most of these com panies are mutual insurances, and that what benefits or injuros the companies therefore benefits or injures the policy holders? As to the saving bank depositors he says, "Under a gold standard there is increasing danger that tho savings bank depositors will lose their deposits because of the inability of the banks to collect their assets. " And to avert this danger Mr. Bryan advises a policy which would, by the introduction of the silver standard, at once cut down the value of those assets to 50 cents on the dollar. He further says, "If the gold standard is to continue in definitely, tho depositors in savings banks may be compelled to withdraw their deposits in I order to pay living expenses." Indeed! It is a remarkable fact that since 1873, the year of I the great crime, until 18H5, during the period ! when we bad to suffer all the calamities of thu reason is obvious, because, aside from all con siderations of sentiment, the prudent employ ers of labor know that they would lose vastly more through the disastrous disturbance of business sure to be caused by a free coinage victory than they could possibly gain by tha cheapening of labor. And would not the toiling masses (suffer most from that disturbance of business? He Is a traitor to the laboring man who tells him that he can profit by the ruin of his employer. The agitators denounce the gold standard as the device of monarchs and aristocrats, while the history of the world toaches thai from time immemorial it was a favorite trick of unscrupulous despots to fleece their subjects by debasing tho coin of thu realm, and that those who out of the monetary confusion evolved fixed standards ot values and money that would not cheat have always been rank ed among the most meritorious benefactors of . mankind and especially of the poor and weak. They seek to inflame tho vanity of the Amer ican people by telling tiium that we are groat and strong enough to maintain any monetary syHtoin we like and to ksep up the value of our money without regard to all the world gold standard, tho deposits in savings banks abroad while our own history teaches us that said some time ago: "I think it," meaning the victory of tho free coinage movement, "will ruuaa a panic. But the country is in a deplor able condition, and it will take extreme meas ures to restore It toa condition of prosperty." Whereupon tho St. Louis paper pointedly re marks, "Evidently Mr. Bryan has heard of the dootor who always threw his patient Into fits before administering any curative medicine." Just to. the dollar falls iu value the manufacturer or tho merchant marks up his goods. The work Ingman or the clerk, finding himself hard pressed by the risu in price of the necessaries of llfo, applies for a corresponding Increase of wages. The head of thu factory or the mercantile establishment admits that some in crease it called for. "But," says he, "yon are not ths only person In trouble. The value of our money It fluctnuting. We hardly know have, instead of being withdrawn for living 1 expenses, increased positively increased I much over 11,000,000,00. And they would t buve increased still more had notsopiedoposit i ors withdrawn their drpoeits, not for living expenses, but to send them to Europo for safer S ty, out of tho wuy of Mr. Bryan and other 1 friends of thu toiling masses. They will no ! doubt bring that money back as soon as Mr. ! Bryan Is beaten. j Let us go on. Almost every man in active i business is a debtor and a creditor ut the sa.me time every merchant, every manufacturer, a creditor to his customers and a debtor to a century ngo the American people were strong enough to shake off the yoke of Oroat Britain, but not strong enough to save their continental money from declining in value to nothing; that iu rocent times tho American people wore strong enough to subdue a gigan tic rubellion, but not strong enough to keep an indefinite issue of greenbacks at par, and that this republic may he able to conquer the world, but it will not be able to muke twioe two five or to make itself richer by watering its currency. They speak of the silver dollar as the money of the constitution, while they must know those from whom he buys. Let Mr. Bryau I that there is not one single word in ths con- How, then, would Mr. Bryan's "fit" work? : tl today. We surely do not know what The sudden diaapptarance of our gold from 1 ' will be next week. Profits are excessively circulation would produce the most stringent close anyhow. We make a tale or a purchase contraction of the enrrnnnv on record. Huai- today and think It la at a profit. Tomorrow neas men who owe money and at the isms i Hay find that It was at a loss. We hardly time have money due them will be forced to venture to make a contract to be filled at a collect that mousy by every means at their 1 future time, because we can make no safe oil- i disposal. Nobody will be Inclined to lead oat 1 rulstlona. We can lucres your wages a lit any money except npon extraordinary seen-' Dut not much. For that you will have to rlty. The banks will naturally consider It their j wait until thlnga are more settled. Besides, duty to keep themselves strung, and there- this silver free coinage has thrown all bust fore to call In loans and to restrict their dts- j "raa into dreadful confuaton, and there are oounts and advances to business man with tbt plenty of people utit of employment who . almost rauHon. Unalneaa establishments, would do your work for less than you gel manufactories, meroaultl houses, unable to now." And so the wage earner has to be sat- I get the money for meeting their obltfattoas, t'OeJ with a little Increase of pay and wait for t will by the hundreds euooumb to their ember-' wore while the advanced price of neeeaaarlea j raasmenta and tumble down Ilk a row of , prey upon him. brick. Other will cautiously restrict tbatr . Is thl mar eoBjerturef It It theexperieaoa operation to the narrowest poaatbl limit, and every country that ha been carted by a , wag earners by lb thousand will lo their riae of prices through money of fluctuating. smptoymest and b turned Into Ui etraet. vlu. I defy any one to show ma In ths wbol U Mlver la tb. I'alCI Stake .Ion, "without , .., .j ,-tm -k...K .... ! " "rruw ier . ... . . ... " .'. - .. ' . I mortgagewlth i I wailing for tlx aid or runaent ut any other aUi " Thla platform la amplified by frw coinage t awatur. who 111 n that the art of 171. railed Mm arteia PCJ." baurreptlbualy "wip ; 4 sal" on half of the people a mt.uey-aame ly. ell'er, that In pimaequeiir Hi remsialng half of our inelallld atanejr - newel, (oil -a hast of the whole flnain tal truclar. ha tu Jt the asm bo-tnea that formerly a a ! e , t'jrr'ld aa.l silver l. gtli.-r. Ikat thereby 1-4.1 fca rtsea to i'iit i. .!.! It former pnerli 1 lag power. 1,1 iiotur being virtual! a Ml j watt dollar t that the man ir1)" Ihinge f f Mle la thua l-elng rvlUl i t t alt llie .tl. e. ' III le liable le N the - . tsM have ). ; wmm lab' a k.-v. an. I thai kia fall of I -TV.- aixl In. ea ( Imt.lena art. bin the SMuary rhaiiga) ail i'trtiig the i-aaipt. j What Ars the larlaf ' Ar the pi'mplsliita ll f. un-'lt U..k j I fart skid. . I..l rieite Thai Ibere i liaarna a e.-n.i..l.ie Nil In ll, vrln ! Mat article am.-e tt la retla.nlv true Hut VM Ihla fall eaut by lh an c)le. leni tfctatl. of atlver through the .4 f l:.i hew, I at hi apeak f lhf if imla of our hi.?, i i Iba l -I from M to I it I. er ttlr hat then. eaai4rli fall of ; prtxea, at ualv a Ut rw-ullur4 i.rnluei i . f..f aan. n.t't11! fr-e It a tal la 4 tn I! eenl la Mil -t.iil la an kiade 4 ladnal.tal .r"tet bt..r i7i bl ka I ii wail lfore la. a eanrt hav lea rttM l.f . ! kaifMne.1 la l Tht I rlear Ik '. htiakas "-r I 1 iat Ibrfefi.r. hava bee 1 Mar4 I r aowelbing ela Aakf thing la ttutllr rU-r whenever a i tlMMig ta lh f.t i-f r.en.-ti lie I u4 : If rhaftga in utlv r it-ttt, r h.k, lava II mat a ft-. I .liLreul r be dirtral 1 If 1 tM ahel in at r Is p.m. Ike ei-lr ' tng ..tvti. fie.el aa..t, aktl al the asm taw flfciN Nav iIm lln In f-fl-, lh aut-.lr keleg ft 1.111 .ini.if at-MM-Uht lul a be i tfce- f art. al tte in cmwwimm v4 1 m gr.l .bang la l I'ur kete , f lh eri ,4 h ...unlit, l.l f m UM Ikal than I tt.l-W. the lb eff.nl Skuet la ii!, ,f l e4 ft-eatnetir M, a fc all U. Ik. I at. U,,K .. II ita ll.at In If I f ll4 M-..ant('N -4 i I t In t 44 o-.'ir IN 4-.!lr Ita g I !. 1.. -. eenl d-.)a al all. IK- a ii U....9 a au nl tt-ua al - n4 f- .Willi, g II t If t al I. ... I,. a) rl .l lui I t e4 a I It - n .. I ae I IM rt .! f - It- f. a.t l-K! d-.tlar f.-e e fa if f -van t.t rhatteg kef rata to gmaaar In l I'M n4 Ik Art 11. t the I. Ta al l l a,) n tN a law Ik IM t-t fat naff what a Ik wkeajl e)k sasl r W..a I ..V. ml 11 atiU Wttnael Is Id Vat Jri-nani a NMW, a.-rs M.I as rae. m.tatt llat aak) a4 it r I ur km aa t a.rJ s ls V h MI its Ml st a nionetlai l nothing, but wa actually followed UT an inerraanoi uur currency, nearly Irvlillng It v.iltiin ant nikiitg IU r r.pit far. far higher than II vvrr ha.1 been before, and high r than II la is any t(hr rtiuntrv eicpl one? 1u mighi a well aanrin our t'lvi great nun! of IDIl, liar Heeeal hllaer la. Mo ! of kotnatr will b oarwl Vh d-1 htttory of Hi world a tlngl exception. Hav struct! v oonaeqiMiiee. Every frlghteod w not, during our civil war. witneMwl it with eeedltor, preaand by hit own oredlUtr and ap , our own reel In Wit. when our irredeemable prhuuvot a growing lot by vry day's PPr currency had begun lo depreciate, th d.lay. will aagarly aounc upon bla debtors, averag wages of Islx.r rose only I per ornt, Tb prnrapl attlamenl of vry acroukt will wbll avarag prima roe 11. In ISMS, when b peiwtoplorily demanded. Our farmers who wag had riaan lu', per ceul, avarag prices hav morlgag.ai on lhtr prnparty and w be war Hi per cant higher; la 114 wage bad havs b told that fre ootn will mak riaea aftk4 per cent and price Vt: lu liAl thlnga ascMdikgly May for than will hav wages had adrancetl 4.1 per rwnt and prlcM 117 aimunlpecteJeir.rlanoe. avary mortgage auov wnai wagea anu price asti on in goiu . , , . ... . ,.,,. dsh. that U ... w.,1 U quickly called InSZ sTmr ow.Te'y. "w. mnrHrn.,r vnn ine in nav D IB nana esaena- a - K1 ' -.- mvi w vuen ; ed will find tn unwilling r. II who aekt McenU In t-very dollar. Kvry oountry la- la order to rply tb old boring nnder tiinllsr conditions t-lai th nam mortgage with 1 new on will b Vild that thla story, vtitai reaaon In lb wariu la lhr to , U no tint for loans, sct, parhap. upoo - sasum that tbt universal ml will no! oper- i at tn the ra of rn coinage? bring on bis panic, and hundreds if not thou sands of thum, alttiough t-vur to stilvent under ordinsry circumstances, will break because they cannot pay what they owe, being unable to collect whut is due them. "Cheap Money" Fallacies. But we are told that the Bryan panlccannot last forever; that finally the business of the country will adjust Itself to th silver basis; that thru unrest will cease, and that confidence i and prosperity will return. No, the unrest will not eear-e, for with the establishment of the silver basis will oome the disappointment of those wbo brought It on. The ultimata result Is not at all uncertain. After a period nf Infinite confusion, disaster, humiliation, suffering and misery ths Amer ican people will at last rrgttn sanity of mind and arrive again at som vary simple conclu sions: That, If you call a peck buahel, you will hav mors bushels, but not mor grain; If you call a foot a yard, you will have mor Itrdt, but not more cloth ; If you call a tquar rod an acre, you will hav more re, but not mors land, and If you call to cent or I cent or a bit of patter, a dollar, you will hav mors dollars, but not mors wealth In deed, a groat deal IrM chanc for wealth, for you will bava far lias credit, bvcaua far lea honesty. Ws shall then hav learned again that lb wit of man cannot although litaanlly trie very bard Invent an economic system under which everything yon hav to stll will b dear and everything you bar to buy will b cheap. And having got bold of these vary, vary simple truths, tb American peupl will (hen Is sackcloth and ashes repent of this In aans frs coinage debauch. They will then recognla bow wie th gnat civilised nation war la adopting ths only money In onr days luwed by lh upmsriuu outcry which was , started by lb all-r miitgn are! taken up by Hi "rh"t money ' men. emirrai paaaed lag ; law, one in Kl Iae other In lavxt, la purvu as of whtoh ur .w.ouu.auu of ilvr d-llura ; Ware .l.lt to our currency, amr than III 1 lime a Utny itoilar a had ever beaut evtinad J Ivfiire. bniiie a Urge addition lo esr tub f kitliary alrer ottta Htr trr nntnev aa larg'-ly tn'fie.. mt that akila la Ki, lh , ) ear In which lh Amerl, an pe.pl were aald l.i ha'e been rlo. nf half Iheir tionef - a In la la leT I aty. a had i:;i out no tntNtey In ' ha I titled aisles. wh4 :. .'U.uli tu. lt laatt. , nearly llitaa liate aa anu Ii. and wkit la la; J the rlreulaltoa ws Haul per enilta. II Mil far capita In la aft r litae a many etlver dollar aa-t mny litae more ( money nf all kln.l (h Iht eounlry hat vr hail la lis Bftat f-e r-na data an 1 lei Ik prtea i.l am.f la lh market kit a faltikg ' aad lh rtfaa of snaay t.aint.aliiiN agrteul ; tutal ati,t. In- lu l--t e..nllnul in lbtr tie rhaing Wn.lency Sttw analya Itti eaee I I- what gr.tund d-t th atlver .1v-te e a.-ft Ikal Ik au ralMt dem.ntellaatnNi of ttlvrr ' de)rea-d prt.eat Aunnling tn ntr t.aa eeaaiiaiing iwauaa Ihe-r haa4 bet a eurlb'lettl ' fttMNtea m a-tat. ii art..- ftU't.ia hl rteeat 1 h. i rea4ling I f-.r (an Hut lh. re I --w threat ttn a ma- h en-wet f a them wa la l ai.4 a h higher $ r er.it nr. la tlaat. Hell, n hat UMe.tnai f Ihetr nrguNteait , i4 m auvet i-hil eihera hav mveniad S antatert.. krae- lhal fftee hav ( do a !-.- 1. 1 lb I f a t ta na..n f of ttilttnal fMtlernt.ll.rfl hl mmn raflail e-l. tanly g 14 l(g atialte Ihta pari. hat. a-cr.tiag w. it. itwu.y etttit., a had la ln na.it I . m itv ul .-..In. In. lu.liag alaavliaXf ailtet ta In e..ntr and an w hat ! taat uti ,4 g-.t.t at. te. ft ! Iba at Itanaa a M.a. k nuea) ra? ' n'titnat rdli a in Aal pfaxa tta h- I aa n. a -b h fa-kt 4 . at I t tta-at Ibal la Am on 4 a w-aaa Ma-4 ka kaaa aatnaaal If Hf eaa I f..a)4 ntl rut ratn f I t it., e I -4 l; akil a Iht. k Ibal ttir bawanef Vual-I t 4i S t4 afat'laaana lbr..gk II lb AH Mm faae.a. Pnl I beer let a, f ajakeal. If k k v aky m thai art ( a: I aai I ae.r.lif. anrr. t , aanaJthi.t ! p.. atlfaf eraW-e lasts teat event r dinning Inks lit aa-Mlaf aH f-af . f laaua belli abillbab W.leva-4 II lb but f Ibal In Mint aV-tiar a ' atead ' lhrh Ut la f I If k. aaerrard ae. T k I abi tat I) m eVe sad a aa tauaMIaitf 4tf-et4 Ikal I aaa sowtliiad la laas II kg ) daal orbltant mndltlon. Tb nutiigsgnor may And, tou. lhal hi tnd la payabl ta gold cola, and b will hav to buy lh gold at tb pramlum wr to lh i the ruling, f ureebaiureai will b lh onler ut thdf. The ntortgageor hie.-eka ahrlter on- dr lh law delay will al any raw fnrthnf bur. Un hie pn.iterly with thtartuf legal pru rattitar. F.vvrt wner anilely, eatbarraa mnl, McrlHiaa, l,a ait l dial m as, even bafor Mr llryan ctauld t-nd lh preaidaallal chair. lUyaa'a lllanetalllaaa. I After flta nr all month of such deadly rtt.ia, Mr. Hryan a eiir aaaiua of rongnast would begin and giv aa fee coinage Then. m Mr Hrtsa n-leionly promiaed ua in hi. g real Jtew lork nralloa. f re on I nag w III gtfa u Ismelniltain, bimetalltam will gi ra a ae lun!u of mniivy, and all will h right, riltnetalliain? a lial ta bimlllur II u a mtanelary etatiH is whti h In twu metal rr ralata l-Nr- liver for all Ik parp.e of m-mrf ua a pnriit with m other nr-m a (ted b aal ralin. vtkl. k la t.ur ra I Id to I. Kvttlenlly lo hav btnieUiltata gold mual a aa haad a well a Hint II ow will Mr llff an gl ties g-lt hvl from Ik rn--a f poaeft If Idea 11 k tnual uS-l aa Indau-vmealt hl 1n.iKment To t atir. Ik mlaks will b npan) l-t gt.bt a well aa ilvef Mill wk BUI bfTar t4d bsllb tn hvt II coined tain dollara f..r eimalallo) when U rats aav t I vet iluliar at ttk la Mm le;J temlet power al half la prloet Italy aa ble l mid do lhal Itf rvnteaas g.,14 will b i tf .rad nniy tkat Ik Hint dollar I up gi I th g I.I mb44 There it lb rate. P-nl tor Mr Itrt aa aleft I with a laeory abb h ut t rrtaatty la aalaarnaa4lp II ald hb Htm lr k "A aarvhaatef aaawf.a rly ao lk In eatir eu iv 1 ? td ny arib-W al t eefiaia fro prvea It al article fm falling aei-iw lhal prtfni an Ik fttetametil raa Its pro- r.r g.-il and iivr I y eraur. S da-an-l gewatfet lhan th WM-.f and agata. ' a ban a rniel f t-a ta I a ua viaLi i.,eo. II fa t " 1 a Iba llo-l -t -e. I'- an f per a Itrtn- eel tataf bt In nuilt. . er int.. etna SI It. al fev. td any aj.ra.-r deaar ng baiiiua eaa neenr II ly mailing Ibal ' vtMild Ik fMltatf klaemaMllbaa. hall la Ihta I t steaa IHal tf fraat s kg In g- v.ranta! will tar'kaai alitef bnl bs 14 rl f wit ttd pa-vc fair Hi It a, tee Mr tf an. Was ( fre Manga taaavtl. d-at a-4 la wh fraa) ealag la 11 a rataiind hi It ate Ibal lbs . a, ad tlva lnit4t ntaf lak tl k Ut attnl an hat II antaaal and returned he hies la aadnaV in ae. tat fnaaf d-4lrs f.f m wetgki nata ail It 4- sw4 Ibal tb g vara ' .in its raa ly W a-r-kae tn. envtra Mlftty 4 il M s a flats ann '" Tb serf rnal a. mi ami aneattaiM at II II aaaralf ft'.lva lh tsllb. Vbat) M ad Maria rt Aad a M talag t ptvaax, tt rata as tb f ttniaal k 4tag ap Itvt silfSf tValiaf as bfe sasd Hit III. St It waant And what bat Ut epoetin of fre silver i coinage to My lo Ihla? Hear Mr. Hryan htm- i Mlf In his famous New York oration, "Whll a gold aumlaed rate In pnrcbaaiiig power of lh dollar It also makes It mor dimmill to obtain ptiaMtoa of lb dollar employ men t I Is kw permanent, bava uf work mor prababl ' and r vmphiymeat e rwrtain." I Ibal all? i Ym. all. .. sot Mr. Hryao know thai on dcr wbal Wat practically In gmd stsndartl ' w had IB tit Bftie on of lit ml artlv , and proaperotu perliaia Iht country hat ever ' keen? Ibaas b I know lhal mor rtanettlly. al lh time t.f th retura bt srl payment, wa had under th gold tanurd year of gig- Bel pnapailly wita all band at work? Aad dtaet be ieh to barn what ha bea lh trouble a.nc aud wknt ta In Irnubl Bowl lal btra aa tb i..yera of letmr, aad with aimoad oa tot.- t.e-y will tell aim thtl not tit rtialing g old atan.Ur.l. but lit growing . tlaag-r of it overthrow, tt at th grow ing ag grivnM of th fre c-iraar movement, tiling th mitt-la f men with aoi bra appr- ' battel. a tu dark futur unwrtaWalt, has i aertad lt paraiva Ikat apinl of nbnnta , akii-k u In Uixrmi sua kt rk 14 kim Itttly In hiat.rt f la rrtat of I aak S. tb g-.l-l alnn lar.l, ?u dtalrual of a:W.r de.Xr.if- ', -l lit .uofolen- lbt avnpitiy lHir. 7htO I lh IruUt. tad Mr hry aa will Is tats bl to de,; II. IkeMar aad red Half. Tb fnat rtng men peuf aartal Build lad fr Ibtaa bum that call "lb dot., rlaaa " i are irt debw-r rlaaa? INjr atlv.r rrVtl apeak M If. M ral. Uw trk people , wee erdil-.ra and th pr wer debtor, I ' Iht ebfTaall a n y houneh. bl I am th debtor to lav k aad ts rhn.hf maid aad th waab. t ..an a t f lb re anil la lb muaih. aad lb. y ar my rrvbtttors, Nor , sr tbey tkif to be debtor to anybody aiae. whila I a. af be. for Ihef bat bill If tay eradit, Blita I prh,a bt I am llvref--r la only dettor ta mf ha Th bla tb tars ri tf of Ubu aad lh tn L-t ar bliilly lb Mat. Ittdmaroy las apt.tr. tb rv k ma. , aa pl to Me lb alf d.l-4air aanobg the Tb lafkfea at, m a rwl. aalf atvtdllnta, aad m lh-r Uy eg Mftng iby ar to b- eelib-f la a latf aena TVaf iWr-a I Mtt - f la Mfing bank f II la lielibg atnrlatti, la mll raesadll ae-ut- aaw Is haan eomaaMtiaaj r Is Uf laawraavN) pultetM and biis atital la a small f Tb arv-aal dettomtad If P"tt 4 small Bees la lb at aa beka .4 In I at 14 Pa las a a fat si at.1bieg ef 11 ISH- mm, lkl lamki 4 la baibii( abmllaaUL. It mstaaal bameU Is Uf taamras) tnf baa trad atltl. Tb ut 4 e-h fjdllrt) balgtg U bat tf all vet felawd akea wl 'lb toa.ig la a I ' at that taef larg Twtbar Ls aufflclently cured of prejudice to obarrva Ibal nsdrr that monetary eyatam thnaa na Imna bav on lb wbols prospered, notwith standing Htrlnus vlli and drawbacks under which ws do not laU.r, and tbst th rat of In lerrat It loweal where tb gold ttantlard bat eiutad lung. We shall tbtB understand lhal II tt a g-d thing to hav tb neoeataariM of i standard of Value? 1i1uti.,n which lionnwH InUvnratjid Pnnlit justify such a claim. They invoke for thoir cause the names of Jefferson und Jackson, while every reader of history knows that Jefferson and Jackion would have stood aghast at their wild sohem of creating by law a false value and would have kicked out uf their presence as a public nuisanoe any one seriously advocating it. Much thing the free coinage agitators tell' the American people, assuming them to It without Intelligence. Far worse ars the p tnts)s they address tn thulu, assuming them to be without moral sense. Immoral Pleas. They have been teaching ths people that becsuae ths prices ot wheat and other thing hav fallen about one-half sine the so called demonetization year, ItfTS I hava shown why those prices have fallen It 1 not equitable that debtors should b held to psy mor than bslf ths amount of their debts In gold, that they should be rclaaaed tn eorreapouatnoa with th decline of piioe. and that II would therefor bs right to raducs by frs stiver colnags the valus of th debt paying money by one-half. Mubject tha principle to a tlmpl test. Whan I contract t debt, I ows what II ls mutually understood that I in to psy. Our whole bmd pen lifs and social fabric, all human Inler rourse, reel upou tb binding fores of such understandings. I nlaw It bs eipremly under stood, hat th debtor ths tlightesl right of rem to demand that lh creditor shall bt aallxfled with a las amount In payment If wheat or eutbin or something el had mean wbll declined In price? jf au, would not tbt rradltor aleo bsv ths right lo demand thai th debtor should pay mors lu proportion If whtat or cotton or somotblng vim meanwhile i bad risen In pnetf If nithr of them had thought of pruptalng or of accepting so adven ; turou a contract, how ran sorb rialmt b jus i titled If baaed npon s mr necret mental rw - srvstlon or sn arbitrary afterthought? It II not monstrous thttturh go aanumptioa shoaM bs taken aa a warrant fur th reduction al on twerp of all debts by a dtbaat-incnt uf tht lifs la plenty aud cluap; to bat wage riaing aad paysbl In money that doe not doiv; to bava capital Inaptrwd tin nonad-aoe In tb j I value of money, and therefor eirr to g-t out ( ; la Investment or at.-rprie. W abali Ibea : r aIlly acknowbtlga how foolish wa art from th very beginning of our tiiv.-r stprrl- ' Bientt in throwing swy our gmd for mlvtrr, i ! tj which w bad otifldcto, credit and pros- , pertly, t'bajttenrd by adteratt), w shall then no btltgar be tempted to ri-ptat au.-b mmannae, I but with laborious and ili(ul cCurt We shall work our way lark lo Ibal money standard And yet bs who boa watched ths fees coin- sg agitation knows that just this appeal t debtor It out of Its main allurement, l.tttea tolhclrtpavcba. ruad thir llteralur. aad yus mei vr rarurnag bow In ..ft ttuku cir eunluruiloa, now ta tly kuggnstlon, bow le tb Isnguag of brts. a cyatciMu lh promt tbat fre coinage will maul th debtor to gad rid of bl obligation by paying only s part ad thant. It Is a hero of wanloa lepnUiattoa ef prtf at aa well aa public ttebta. not a if wt e-iclj aol pay la foil, but betaua w vn.uld prefer not to t? In full the pr.-iir reorid vo ny in rrsuuuieni nanarutil ami Ihit an- whtrb will laur sUbllily snd cor.fld.nca. al i tionmX ly ww, M , wr, ul our B.illrt, Bum anu vaavia ua vo .rati ana via tovte of lb world on equal term. Il I not my habit to taste! nf s warm heart fier lh pour snd suiter. ng. flu! sty sympathy Is bo b sinr bue 1 do n-4 carry my bit sad oibiial for lit common people Dtiaoily at my tottgo' end. If tbee i tbtam wbo an Mttated with ever j thing thai stats, I am not on of them. Tber ar fw, if say, wbo abhor tbl M. k may prvnefly b railed pltttna-ra'-T or tltei lh rrt.gtvc uf wealth mora heartily lhan I do. I know, aim, Ibal th ladoairtal dvbipmaU nf our lima bat I rrmgkl bardablp to torn rlaaa of peo pi whl. b otly lb mor aegm tou. Bctiv and ffjergntt amottg Inem kava bn able to armalaafbatano profltatilf with II bettaft. Tber a r law and pre. II.- ahh b, bad I lh power. I would promptly rhang. la the ltil-r- of ajktvl luatie and euuilt . Hal le en una I mm a minded I must opptaas to I ft Blmaal a pot try Webb. 1 m taltiB.d. Will ImmMaarably kggraval titing ev.la I alo btHtw full well ll.at a larg lo.Jutitf of Use aba kitpport fr eninag ar b nt sad e rntaing cil.aana. wlakmg lo do f.ghl fcot bans I baow tola, my bl od aura wilk la digaatta. na I ae u saartyi ala effurl mad to gd lhata i to thett 4tru lt. that wttaeni d la a y e rg lit lea pr-as d Hal eamBaigna. but befef la wbw b lb aptis to fel'l pbi aad runditf wr m rkbM aad la tyaealaiki ti-a aa an.t 14 utaf If Maiea r rabtlt f te. dek.u 4wbk4 Bam eg Ik iter ora tor arfna.lf ananS M If Ihef bettered Ik A " pp to b bra l-e-t r fcn, of toHk. beet i .a! aad f laas frJdi. Tbef Saab lo eta tb kwnpl of lb We. 4 egaiMl tb Med b"va. M Mr Krta Said IS lb t'bletn tll.. lb eavet tbjurvn If talef "Ilk th V-tea .4 in , ya, lias mrt baa wkrer4 wttb waara Isataat. test ba? la tolf-mg to Wnlbl sva rllr-rv. to d waera eanaM. to aad a a waetor toMgeanba. to eaUk Waakera f Innaab to battd p watrtafa toaaa. W a tot f I, be .lf waekern 4M d lay tvra, toanl drsgkk Ua lb rtd Tb mlng Vrrdle. Fallow citlt, tblak Iht tut. Itlakgrav mailer a matter ot vital Import to the eitrf ncaof this bat km. lb feiber who teexbat i tu k moral principle to bit rklldrra dm at . them for Irani, dub. nor aad lb penitentiary. Tb publk men wbo toarb au-h mural prtnci plM to tb popl elinla lh pet, pi fur lh ' rofitompl and abhor r-nc f mankiad. Tb aatb thai ctrpt turk moral prtactpbts oav had live. It will rot In dta In th baihaoro , stw of it ewa eorrnptloa. If lb aaiion r4iBg tock moral principi b Ibtt republts, II Will dl a blow to th credit of riemorratt lattttutloa fruta wblnb tb oat of frs gov- fmmer.1 will aot r uvr ftny ttawtnrta. Hut, tbaak Uod. th dmerlcaa pwopls will bvr sore pi fork moral priactplM Tb 1 America paopi wl.l. Invfor aleat os day nr . riran, hat fully dtanfrl wkat all lltM kNat Tbey will ttdigaaatiy rpl lb an ' takHi laaall r?ard to lb -a by tb p. II- Itelaaa bo hat drd la aak for th t ut ef bofiead ma bpoa Iba uff er uf atacb a bail. Tkey will ka-ow bow to r.nt Ika deepdia . grae Intirtod spaa lbs aattua la lb ya af lb a bat world by tho AmarVnan k al b.Mb-d lbir ewa bHf thai Ik A avert na ' petle war Mpabl af laktag ab a ball ! Mr. ttryaa bas s to fog banptnral II, u ; t rat toa. lis anil rmmbf kw ( k nl m aa I tokes ep oa a k.gk tMnukua aad promised ail , the gloria of Iba world If wald fail dows ; 4 worMtip tb dwiL 8 will aba rataembng kal tknd aawr4. Pat lb tome bw " lak lbs Aivaa par-pi ap lb Bboaatats aad mi a. "I will tok feata ta half 4 yeut s dabl If y will warship ma" Put taats , bravsetd lBM m rveaal ap la all kl dig ally, ataalf prvta. aad bnnead wrata. and : atemkt la Ihsaator ba "AtM ttow bahtad I a, Be tea I Fer II Wt writtoa ibal iba btl arotaabip elf lh lb4 4 tea lb, bona aad i right NiMiiah, aad kim Tht wt'.l K lb VMM 4 lb A pt ta la bl f llteeaaator aad b stara a!