I believe in a Government with an arm long enough to reach the collar of any rascal beneath its flag. I want it with an arm long enough and a sword sharp enough to strike down tyranny wherever it may raise its snaky head. I want a nation that can hear the faintest cries of its humblest citizen. I want a nation that will protect a freedman standing in the sun by his little cabin, just as quick as it would protect Vanderbilt in a palace of marble and gold.
151. No Repudiation
Then it was, that the serpent of temptation whispered in the ear of want that dreadful word "Repudiation." An effort was made to repudiate. They appealed to want, to misery, to threatened financial ruin, to the bare hearthstones, to the army of beggars, We had grandeur enough to say: "No; we'll settle fair if we don't pay a cent!" And we'll pay-it. 'Twas grandeur! Is there a Democrat now who wishes we had taken the advice of Bayard to scale the bonds? Is there an American, a Democrat here, who is not glad we escaped the stench and shame of repudiation, and did not take Democratic advice? Is there a Greenbacker here who is not glad we didn't do it? He may say he is, but he isn't.
152. The Great Crash!
I think there is the greatest heroism in living for a thing! There's no glory in digging potatoes. You don't wear a uniform when you're picking up stones. You can't have a band of music when you dig potatoes! In, 1873 came the great crash. We staggered over the desert of bankruptcy. No one can estimate the anguish of that time! Millionaires found themselves paupers. Palaces were exchanged for hovels. The aged man, who had spent his life in hard labor, and who thought he had accumulated enough to support himself in his old age, and leave a little something to his children and grandchildren, found they were all beggars. The highways were filled with tramps.
153. Promises Don't Pay
If I am fortunate enough to leave a dollar when I die, I want it to be a good one; I don't wish to have it turn to ashes in the hands of widowhood, or become a Democratic broken promise in the pocket of the orphan; I want it money. I saw not long ago a piece of gold bearing the stamp of the Roman Empire. That Empire is dust, and over it has been thrown the mantle of oblivion, but that piece of gold is as good as though Julius Caesar were still riding at the head of the Roman Legion. I want money to that will outlive the Democratic party. They told us—and they were honest about it—they said, "when we have plenty of money we are prosperous." And I said: "When we are prosperous, then we have credit, and, credit inflates the currency. Whenever a man buys a pound of sugar and says, 'Charge it,' he inflates the currency; whenever he gives his note, he inflates the currency; whenever his word takes the place of money, he inflates the currency." The consequence is that when we are prosperous, credit takes the place of money, and we have what we call "plenty." But you can't increase prosperity simply by using promises to pay.