Mr. Bryan tells the farmers who are in debt that they want cheap money. What for? To pay their debts. And he thinks that is a compliment to the tillers of the soil. The statement is an insult to the farmers, and the farmers of Maine and Vermont have answered him.
And if the farmers of those States with their soil can be honest, I think a farmer in Illinois has no excuse for being a rascal. I regard the farmers as honest men, and when the sun shines and the rains fall and the frosts wait, they will pay their debts. They are good men, and I want to tell you to-night that all the stories that have been told about farmers being Populists are not true.
You will find the Populists in the towns, in the great cities, in the villages. All the failures, no matter for what reason, are on the Populist's side. They want to get rich by law. They are tired of work.
And yet Mr. Bryan says vote for cheap money so that you can pay your debts in fifty cent dollars. Will an honest man do it?
Suppose a man has borrowed a thousand bushels of wheat of his neighbor, of sixty pounds to the bushel, and then Congress should pass a law making thirty pounds of wheat a bushel. Would that farmer pay his debt with five hundred bushels and consider himself an honest man?
Mr. Bryan says, "Vote for cheap money to pay your debts," and thereupon the creditor says, "What is to become of me?" Mr. Bryan says, "We will make it one dollar and twenty-nine cents an ounce, and make it of the ratio of sixteen to one, make it as good as gold." And thereupon the poor debtor says, "How is that going to help me?" And in nearly all the speeches that this man has made he has taken the two positions, first, that we want cheap money to pay debts, and second, that the money would be just as good as gold for creditors.
Now, the question is: Can Congress make fifty cents' worth of silver worth one dollar? That is the question, and if Congress can, then I oppose the scheme on account of its extravagance. What is the use of wasting all that silver? Think about it. If Congress can make fifty cents' worth of silver worth a dollar by law, why can it not make one cent's worth of silver worth a dollar by law. Let us save the silver and use it for forks and spoons. The supply even of silver is limited—the supply of law is inexhaustible. Do not waste silver, use more law. You cannot fix values by law any more than you can make cooler summers by shortening thermometers.
There is another trouble. If Congress, by the free coinage of silver, can double its value, why should we allow an Englishman with a million dollars' worth of silver bullion at the market price, to bring it to America, have it coined free of charge, and make it exactly double the value? Why should we put a million dollars in his pocket? That is too generous. Why not buy the silver from him in the open market and let the Government make the million dollars? Nothing is more absurd; nothing is more idiotic. I admit that Mr. Bryan is honest. I admit it. If he were not honest his intellectual pride would not allow him to make these statements.
Well, another thing says our friend, "Gold has been cornered"; and thousands of people believe it.
You have no idea of the credulity of some folks. I say that it has not been cornered, and I will not only prove it, I will demonstrate it. Whenever the Stock Exchange or some of the members have a corner on stocks, that stock goes up, and if it does not, that corner bursts. Whenever gentlemen in Chicago get up a corner on wheat in the Produce Exchange, wheat goes up or the corner bursts. And yet they tell me there has been a corner in gold for all these years, yet since 1873 to the present time the rate of interest has steadily gone down.