Another idea entertained by most farmers is that they are in some mysterious way oppressed by every other kind of business—that they are devoured by monopolies, especially by railroads.

Of course, the railroads are indebted to the farmers for their prosperity, and the farmers are indebted to the railroads. Without them Illinois would be almost worthless.

A few years ago you endeavored to regulate the charges of railroad companies. The principal complaint you had was that they charged too much for the transportation of corn and other cereals to the East. You should remember that all freights are paid by the consumer; and that it made little difference to you what the railroad charged for transportation to the East, as that transportation had to be paid by the consumers of the grain. You were really interested in transportation from the East to the West and in local freights. The result is that while you have put down through freights you have not succeeded so well in local freights. The exact opposite should be the policy of Illinois. Put down local freights; put them down, if you can, to the lowest possible figure, and let through rates take care of themselves. If all the corn raised in Illinois could be transported to New York absolutely free, it would enhance but little the price that you would receive. What we want is the lowest possible local rate. Instead of this you have simply succeeded in helping the East at the expense of the West. The railroads are your friends. They are your partners. They can prosper only where the country through which they run prospers. All intelligent railroad men know this. They know that present robbery is future bankruptcy. They know that the interest of the farmer and of the railroad is the same. We must have railroads. What can we do without them?

When we had no railroads, we drew, as I said before, our grain two hundred miles to market.

In those days the farmers did not stop at hotels. They slept under their wagons—took with them their food—fried their own bacon, made their coffee, and ate their meals in the snow and rain. Those were the days when they received ten cents a bushel for corn—when they sold four bushels of potatoes for a quarter—thirty-three dozen eggs for a dollar, and a hundred pounds of pork for a dollar and a half.

What has made the difference?

The railroads came to your door and they brought with them the markets of the world. They brought New York and Liverpool and London into Illinois, and the state has been clothed with prosperity as with a mantle. It is the interest of the farmer to protect every great interest in the state. You should feel proud that Illinois has more railroads than any other state in this Union. Her main tracks and side tracks would furnish iron enough to belt the globe. In Illinois there are ten thousand miles of railways. In these iron highways more than three hundred million dollars have been invested—a sum equal to ten times the original cost of all the land in the state. To make war upon the railroads is a short-sighted and suicidal policy. They should be treated fairly and should be taxed by the same standard that farms are taxed, and in no other way. If we wish to prosper we must act together, and we must see to it that every form of labor is protected.

There has been a long period of depression in all business. The farmers have suffered least of all. Your land is just as rich and productive as ever. Prices have been reasonable. The towns and cities have suffered. Stocks and bonds have shrunk from par to worthless paper. Princes have become paupers, and bankers, merchants and millionaires have passed into the oblivion of bankruptcy. The period of depression is slowly passing away, and we are entering upon better times.

A great many people say that a scarcity of money is our only difficulty. In my opinion we have money enough, but we lack confidence in each other and in the future.

There has been so much dishonesty, there have been so many failures, that the people are afraid to trust anybody. There is plenty of money, but there seems to be a scarcity of business. If you were to go to the owner of a ferry, and, upon seeing his boat lying high and dry on the shore, should say, "There is a superabundance of ferryboat," he would probably reply, "No, but there is a scarcity of water." So with us there is not a scarcity of money, but there is a scarcity of business. And this scarcity springs from lack of confidence in one another. So many presidents of savings banks, even those belonging to the Young Men's Christian Association, run off with the funds; so many railroad and insurance companies are in the hands of receivers; there is so much bankruptcy on every hand, that all capital is held in the nervous clutch of fear. Slowly, but surely we are coming back to honest methods in business. Confidence will return, and then enterprise will unlock the safe and money will again circulate as of yore; the dollars will leave their hiding places and every one will be seeking investment.