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WEAVER AT COUNCIL BLUFFS. THE FIRST SPEECH OF THE PEO PLE’S NOMINEE. B. Delivered July 7, Before the Twin City Chautauqua on the Silver Issue. Nir. Chairman, Ladies and Gentlemen: It would have been a great pleas ure to me to have listened to an ad dress upon the subject in hand from the Hon. Richard P. Bland, of Mis souri, but circumstances having called him bick to the floor of the house of representatives I have been improvised as his representative here to-day, and I take pleasure in ap pearing before you for the purpose of submitting some views concern ing this great question. It is a ques tion far reaching in its consequences, touching the well-spring of the whole republic, and it is of sufficient im portance, as it occupies the gateway to the discussion of the whole range of economical questions; it is of sufficient importance to challenge the attention of every American citizen. M. Thiers, in his preface to the history of the French revolution, says that the people of France were incapable of comprehending the march of ideas. Had they been capable of comprehending them they would have avoided the bloodiest chapter in the history of civilization, namely, the French revolution. He said they c®uld comprehend the ar ray, the onset, the shivered diadems, the blood flowing in the streets, but tliey could not comprehend the mighty revolution of thought. I hope that the historian who shall write the history of the political con flicts of our day may avoid the necessity of inflicting upon American civilization the same criticism. He who looks upon human government lightly, he who turns an indifferent ear to the necessities of a mighty na tion like this, now numbering sixty four mi I ons of ] e >ple and which will number within the lifetime of the majority of men and women listening to me here to-day, hun dreds of millions of people, fails to comprehend the magnitude of our civilization and the problem which our great government represents. Cromwell said to his painters when about to paint his portrait, “Paint me as I am; if you leave out these scars and wrinkles I will not pay you a penny.” He wanted the world to look at the real Cromwell, and not the ideal Cromwell, and what I have to say here to-day, my fellow-citi zens, I will say in all candor for the ladies and gentlemen w’ho may dif fer with me. but I wish to paint the present condition of the republic just as I see it with its wrinkles and its scars. lam an optimist, for I be lieve in the ultimate triumph of our civilization and the destruction of the obstacles which now impede its progress, and yet I believe that I see those obstacles and comprehend them. Now we are in the midst— not only at the threshold—of an ex cited political campaign, but w r e are in the midst, and have been for the past eighteen months, of one of the most tremendeous political upheavals that extends into every part of the republic. You might to-day, if you could, drive a pin in the center of this republic and attach a line to it of sufficient length to describe a circle that would include every county w ithin it, and there is not a county within the republic where the people are not inquiring on the very question I am going to discuss here to-day, and this inquiry is not confined to any class of political theorists, but includes all the people, and I am able to testify from per sonal observation and long expe rience before the public that I be lieve there is a vein of honesty run ning through all parties, and those who think that the people who dffer with them are dishonest, have failed to comprehend themselves and make a proper inspection of their own heart and minds. THE PEOPLE W ANT TO GET AT THE EXACT TRUTH. There is no question about that. If I know myself here to-day I do not wish to convey a w’rong impres sion nor to be under a wrong im pression myself. I want to inquire first, what has caused this upheaval of the people. Is any one so illogi cal as to conclude that this great up heaval is ephemeral without any logical cause? Causes and effects follow after one another like the great W’aves of the sea. You have seen them dash in fury upon the shore. Just so, cause and effect fol low one another. This great up heaval is the effect of certain causes, and when we get at the causes we will be able to apply the proper remedies. And now’ I want to invite this audience for a few moments to go back with me in thought for a quar ter of a centu'y or mere, back to that b’eised peii>d ii the history of this epublic when the bugles of two armies sang truce, and when the bl.ssed angel of peace folded her wrings and said to those armies, “put up thy swords; do thy selves no mere harm, the war is over and the knife shall be taken from the throat of the brother.” Oh, my comrades, w’hat a bright day that was. When we had passed by Donelson, Shiloh, Corinth, Chattanooga, Mission Ridge, Atlanta, the Wilderness, Richmond and Get tysburg—had passed them all and we were still alive; the Union army saved and the flag honored through out the whole earth. Without a star cut from its blue field, what a glorious day it was and how well life did seem to us W’orth living then, didn’t it? I never have seen the sun shine with the same brilliancy as it did then in my life, nor has life ever seemed to me so well worth living as it did that day. The memories rush into our minds long gone by, still within our grasp, and now with all these sacred memo ries rushing upon our minds, I want to ask this audience some plain ques tions. I believe in the old method of teaching by questions and answers, and I am going to ask this audience some questions and will answer them for the purpose of prov ing before your minds the exact con dition of the country to-day. How many people had we in the Northern States when the war closed? Let me say that no man can fail to un derstand this upheaval to-day if he answers these questions I am going to answer. How many people had we in the Northern States when the war closed? Less than twenty-five millions of people, but call it twenty five millions for the sake of round numbers. How many people in the South at the close of the war? Less than ten millions, but call it ten. Thirty-five millions all told, both North and South. The next question I want to ask is this : What was the financial con dition of the country when the war closed, in the Northern States? Why I have one hundred witnesses to day, men who were alive and engaged in business at that time, and who tes tify with one voice that the answer I will give now is the correct one. You never knew in your lives since as good times as there were then. Times were proverbially good, the price of all products was high; money was plenty and the people were out of debt and were paying for what they bought in cash. That was the rule. Now, what was the condition of the people in the South ? Why, they were trodden down by the two armies; their property was de troyed ; they had nothing left but the water, and the air, and the land; they didn’t even have fences upon their plantations, for you, comrades, will recollect we always took the top rail, and they were humiliated be sides. The prosperity that I speak of was confined to the Northern States. The next question I ask is this : Where was the money that was in circulation when the war closed ? Was it confined to the Northern or Southern States, or distributed among both? It was all up North ; it was among the 25,000,000 of peo ple ; the South had no money. Whatever money we had, whatever kind we had, was evidently in circu lation among the Northern people, the 25,000,000. The next question I ask, and I 'will try and make this plain, what effect did the close of the war have on the money in circulation in the North? Let me illustrate it. Suppose I have in front of me here to-day two reservoirs of water; the one on my left twice as large as the one on roy right; the large reservoir filled full, the small one empty. Now if I should take down the partition w’all between these two reservoirs, what becomes of the water? A portion of the large reservoir flows out to fill the vacium in the small reser voir ; that leaves less in the large one. When the war closed the North was the large reservoir and the South was the little reservoir. When you pulled down the bar rier that separated the North and South, what became of your money up here ? A large part of it had to flow out to rehabilitate that country in the South. That left less money in the North, didn’t it? How many people in the South had no money 7 ? Ten millions. Four millions were black and had never known what wages were ; had never known any thing about the possession of a dol lar except it had been given them. There were ten midions of whites and blacks down there. Now I want right here to remark that the worst mistake a lady 7 or gentleman ever made about the government of the United States is to suppose that it resides at Washington. That is not where it resides. Here is the government —you are the govern ment. Washington is only your place of doing business; that is all. And I now call your attention to another fact. That which would be good business management applied to your family is good business management when appied to Uncle Sam’s while family. And, when there were ten millions of Uncle Sam’s prodigal children when they ' returned in a single day, ten millions to their father’s house, without a penny in their pocket; with that tremendous addition to his family in a single day I ask you, do you think that was an occasion for a contrac tion of Uncle Sam’s money? There have been seven children added to my family, and if I had contracted my currency as the family 7 increased I don’t know what weuld have be come of my family. [Laughter and applause.] Now, the next question I want to ask is this: Inasmuch as we have learned now, and beyond dispute, that all the money we had was in the possession of the twen‘y-five millions of people in the Northern States, I want next to ask how much money we had in circulation when the war closed in the Southern States, and I was afraid that if I came before this assembly, not with standing the fact that I have been investigating this question from the original books of the treasury, and from the statistics of the last thirteen or fourteen years, I was afraid that y 7 ou would not believe me or that some one might call in question the accuracy of what I said, charitable though you are, and I thought that I would bring along with me to day some witnesses that nobody will dispute. The gentle men who had control of that ques tion at the time, whose duty it was to keep the books, not as republicans, though they were republican office holders, but as servants of the peo ple, so that their posterity might go and investigate the books and read from them and learn for themselves, and I will introduce on that question John J. Knox, the comptroller of the currency; the comptroller shortly after the war closed. No one of you doubts his integrity either. He re cently passed away, a few months ago, and when he died the world lost one of its greatest financiers ; a gen tleman of large culture and great financial ability and indomitable en ergy, and I hold in my hand here a document printed, not by any advo cate of any particular school of political economy; if, indeed, it does represent any school, it is the school opposite the one to which I belong myself, a document printed at 128 Broadway, New York, and it is the speech of John J. Knox, delivered before the banker’s association at Pittsburg in 1887, in which Mr. Knox answered this question on pages 20-21, about four yeai s after the war had commenced, to-wit: for August 1, 1865, which was as er its close. The public debt amounted to $2,845,906,000 and included in this huge mountain of indebted ness $1,540,000,000 of treasure; more than $1,500,000,000 of which was a legal tender, and if you in clude thirty-day certificates and cer tificates due one year after date as part of the currency, the whole will amount to considerably more than three-fifths of the total national debt, and three-fifths of the total national debt of $2,845,000,000 would be $1,707,000,000. Recollect that this is federal money and that it does not include $146,000,000 of national bank notes then in circulation. That will bring it up to $1,853,000,000; nor does it include $58,000,000 of bank paper then still in circulation; that brings it up to ov r $1,900,000,- 000 of paper money; nor does it in clude more than $100,000,000 of specie that was then in use, and that brings it up to over $2,000,000,000 of money of various kinds. I ob ject, says some one; these seven and three-tenths notes were not a part of it. I have here the testimony of Hugh McCulloch in his first report to Congress made after the war closed, December 4, 1865, and let us see what Mr. McCulloch says about it. From this statement it appears, on page 184, that, without including the seven and three-tenth notes. money 7 of the small denomination in circulation as money, and all of which combined to swell the circu lating medium we have, and then gives a tabulated statement, etc. There is the testimony of Mr. Mc- Culloch that they did swell the cir culating medium. They were re leased as so much currency, and he says that he paid it out to the army in payment of their services as sol diers. So that you cannot deduct them. There you had then over $2,000,000,000 ot money of one kind and another, all in the posses sion of 25,000,000 of people in the Northern States. Now you can see why prices were so high ; WHY TIMES WERE SO GOOD. What effect did that have upon the daily business of the country? Let me show you from McCulloch again. He says here that the country as a whole, notwithstanding the ravages of the war and the draft that had been made upon us, was far in advance of what it was in 1860. “The people now are comparatively free from debt.” Why ? Same page : “There is an immense volume of paper money in circulation.” Now, Mr. McCulloch, did they pay as they went, or buy on credit as they do now? Page 186 : “It is undoubtedly true that the trade was much more largely carried on for cash than ever it had been previous to 1851. It is also true that there is a larger demand than formerly for money, but making the most liberal allowance for the unwholesome demand arising from these causes it is apparent that there is a great redundancy of cur rency.” There was your condition at the close of the war with your two bil lions of money. The secretary in this report recommended a contrac tion, and Congress followed it in 1866 authorizing a contraction of the currency. That was the amount of money you had in the North of va rious kinds. Only two billions of money among twenty-five millions of people. I know what lam talking about, and have discussed this ques tion over and over again and have heard the answers a thousand times. How much was that per capita for twenty-five millions of people? Eighty dollars per capita for the people who were using it. Twenty five millions of people. Now then, you have been back with me long enough in the dreary shadow’s of the past. Now come back with me to this blessed year of our Lord 1892. Here’s where we live. Thank God we are still alive and have been permitted to witness the wonderful progress that has been made under the stars and’stripes since we cemented the union together and removed the disturbing cause which led to that fratricidal wSr. We are here now and I want to ask you an other question. How maay people have we now using the n o iey in cir culation under the flag? Sixty-four millions by conservation estimate. Take twenty-five millions from sixty four millions and how many does that leave ? Thirty-nine millions. My brethren do you comprehend today the circumstances of this republic? Do you comprehend that we have thirty-nine millions of people added to our money using population sec? the bugles of those armies called us to peace? This is more than 150 per cent, more people using that money today than were using it when the war closed. Let me give you a rule, a maxim which I hope you will never forge:. I CARE NOTHING ABOUT YOUR POL ITICS, I address you as men and women. Though you differ from me I have not a word of criticism for you or abuse of your parties. Ido not be lieve in that kind of politics. So far as my voice and influence shall go during this campaign tlere will be no personalities. (Applause.) It will be confined to a discussion of the great interest of sixty-four millions of people, and for the countless pos terity whose feet are soon to light on this continent. Our children and children’s children will be here with in the next twenty years. A hundred million will he here; they and their posterity forever. How many peo ple have we now using this money ? 64 millions. I pause to ask if there is a gentleman here who will contend that you can make such a tremen dous addition to our money using population as shat without calling for an addition to our morey supply? Let me give you that maxim now : •‘The demand for money is equal to the sum of the demand for all other things.” Let me repeat it: “The demand for money is equal to the sum of the demand for all other things.” No man demands or ex pec’s a meal of victuals at a hotel without first thinking of the money to pay for it. You don’t beg your coat; you buy and pay for your coat, or promise to pay for it. The horse is worth so many doll ns ; the cow so many dollars ; the bonnet so many d Jlars; the d ref s so many de liars; the suit of clothes so many dollars. The demand for money we repeat, is equal to the sum of the demand for all other things. Now, do ’you sup pose that you can add 39,000,000 of ptople to our population without in creasing ihe demand for money? “Well,” but says some one, “haven’t we as much money now as we had at the close of the war?” Come, my brother, stop mouthing. As much money now as we had at the close of the war! Suppose I had only as much money in my family with nine ptople to eat as I had when there were only two of us—with seven added and the two old people hearty, and say I have only as much to feed the family on as I bad before the chil dren were born, can I do it? “Well,” but says some one, “haven’t we more money now than we had before the war closed?’’ I see we have 39,- (100,00(1 more people using it, but haven’t we more rm ney ? Have we proportionately more money ? That is the proper inquiry. In proportion to the increase of the population, has the increase of money kept pace ? I do not wish you to take my word for it. I have brought along again the statement of the secretary of the treasury, Mr. Charles Foster. Last June he brought out a statement giv ing the amount of money circulating. Then it was $1,562,000,000. Now he says it is about $1,600,000,000. Nobody claims that there is more than $1,600,000,000 of money now, although we have 39,000,000 more people using it. Yet the report of the the treasurer here shows that we have $400,000,000 less money while we have 39,000,000 more people. The population is entirely overlooked by the secretary. He says not a word about it, nor about the increase of 150 per cent, of the money-using population and a decrease of 20 per cent, in the amount of money circu lated. Yet you want me to come to the Chautauqua and tell you what is the matter. God bless you, if you will put your hands in your pocket you can feel what is the matter. [Cheers.] It is an empty pocket. These 39,000,000 of people that are here are demanding money just as the 25,000,000 were demanding money before the war. Your secre tary of the treasury insists upon this. Why it is like making a great big boy that is six feet six inches in his stocking feet wear the same panta loons that he wore when he was only thirteen years old, and your secreta ry of the treasury sitting down by the cradle in which that boy was rocked when a ten-pounder, putting his toe on the rocker and singing: “Hush, my baby, lie still and slumber, Holy angels guard thy bed, Heavenly blessings without number Gently falling on thy head.’’ And is it any wonder that Ihe rol licking lad kicks the whole cradle in to flinders and says : “I won’t lie still; I want a new pair of pantaloons?” (Applause.) Why, my friends, we have not money enough in this coun try. That is the cause of this up heaval. The demand for money can not be supplied and hence the people have organized this commotion throughout the republic. Now that there may be vagaries in their creeds, that they may not have been able to spring from the plow, and the anvil, and the bench and give the world a perfect system of political economy, or to outline the details of legislation which they think is necessary to lead the people, would not be wonderful; no sane person would expect anything of that kind. But the question is this : Do you believe that this unrest among the the people confined as it is, not to any one political party, but is present in every party today—do you believe that these Republicans, that these Democrats, that these People’s Party men and that these Prohibitionists are honest? This is the point. Are they sincere and have they a real grievance that it is the duty of all political parties to take up and con sider, and the duty of statesmen and legislators to take under deepest, careful and most prayerful consider ation ? AS TO THE REMEDY. The first step to be taken is a con servative step. No man who under stands today the cramped condition of our economical affairs would be willing to hurl into circulation a large amount of money spasmodically to forestall the business of the country, to bankrupt men and to hurry the thing into confusion. No man who understands himself or wishes for the wellfare of the country would desire to do a thing of that kind. We be lieve the first conservative step is to it instate silver as the hand-maiden of gold by free and unlimited coin age. And at the present ratio of 16 to 1. [Applause.] I hold in my hands tables showing the ratio of the relative value of the two metals. From 1600 B. C. down to 1889, through all the vicissitudes of nations, the rise of empires and wrecks of dynasties, and never, I have said it here, I have the proof that no scholar will deny, covering an era of more than four thousand years, never from the dawn of human history from 1600 B. C. down to the demonetization of silver by Germany and the United States in 1870 and 1873, was there a time when silver was not a premium over gold on the ratio of 16 to 1. Not a year. It was at a premium of 3 per cent, when it was demonetized in 1873 and 1884 in this country, and you know it demon etized by itself. It was never made the shibboleth or creed of any political party, great or small, prior to the time it was done. The intention to demonetize it was concealed from the American people, and ihe manner in which it was done and the influences at work at the time are not creditable to the history of American state smanship, and the declaration made by the Banker’s Journal in 1873, an extract from which I have here, has been corroboratad by the sworn affidavit of a gentleman of unquestionable business integrity now living at Den ver, who personally converse 1 with the man that came to this country from the Bank of England for the purpose of arranging for its demone tization. But immediately upon its demonetization by Germany and the United States, silver began to de cline. Why ? Its decline has not been caused by any decrease in the production of the precious. The in crease of the production has not kept pace with the demand for it. It is less than a demand, and that its de cline has been the result of unfriend ly legislation and hostile demonstra tion, both in Europe and America, is the fact beyond a question of doubt. “But,” says one. “if you were to have the free coinage of silver, the free and unlimited coinage of silver, what do you mean by that ?” Give it the same rights in the mints of the United States, and under the law of this country the government is compelled to coin it free of charge and hand it back to rne. That was the position that silver occupied prior to the time that it was stricken down in this country. And as to the free and un limited coinage of gold would say that demonetization must be undone and silver must be admitted to free and unlimited coinage in this coun try. “Well,” but says the objector, “you will drive gold out the coun try.” That is Gresham’s law. Not Judge Gresham, he is in favor of it. [Ap plause.] “Gold will all leave vie country and silver will take the place of it. Europe will dump all of her silver over here.” When a man said that to me the other day when I was standing on the platform at Portland, Oregon, addressing an audience of 5,000 people, 1 said reverently : “OH, LORD, LET EUROPE BEGIN TO DUMP.” What will they dump it over here for? To give it to us ? I guess not. They have not a penny’s weight they can spare. They are on the stretch for more. If they bring it here at all they will exchange it for our com modities, won’t they ? They wouldn’t hurt you farmers if you could sell your wheat and corn and oats for a normal price where you would real ize a small margin over and above what you spend in the producing of your crops. “Oh well, but they will exchange it for our gold” says the objector. By the way ladies and gentlemen, do you own gold, any of you? No. Who does own it? These sharp, shrewd yankee bankers own it, and gold is more valuable than sil ver? Yes. And they are going to exchange for something worth less gold. Why, as ihe boys say : ‘Tin y don’t have to.” Oh, well, but Eu rope will give enough to make it a temptation, as you know. Suppose this is so, who is hurt if there is nothing but silver metal money here ? Have you ever, any of you, been ex posed seriously, dangerously, to re ceiving too much silver ? Why, said a gentlemen the other day. He wasn’t talking to me. He had no coat on, checked shirt, his eyes were sharp black eyes. He was whittling with a jack knife. His pants, well they hadn’t put patches in them be cause the hole would wear longer than the patch you know. lie said, “If these free silver fanatics are al lowed to go into power, what are we going to do when we go abroad ?” (Cheers.) Why yes, he wanted us to legislate . for him when he went abroad. I have heard that argument before. I saw a gentleman once who had been abroad. It was at Wash ington. He came into the street-car clad in immaculate w r hite, a nice, flashing diamond, his baton one side of his head and his hair parted in the middle ; he carried a go d-headed cane and wore kid gloves, and a couple of ladies in the car recognized him and said, “How do you do, Mr. Smith?” “How are you, ladies?” he replied. “Mr. Smith, where do you ex pect to spend the summer months this summer ?” they asked. “Well,” he an swered, “After I go to Sahwatoga for about six weeks, I think I shall go to Lake Jawge for a couple of weeks, and then I think I shall go to Euwope.” They want us to legislate for gentlemen who want to go abroad, and what are we going to do when silver is worth seventy cents bullion on the dollar, and when it leaves our shores three marine leagues it is no longer a dollar, and as bullion is worth only seventy cents? What are we going to do when we who go abroad want exchange? What are we going to do ? Now, my friends, this nation can make money that will circula e bejo id the three marii el leagues from shore. Your gold is! not money when it reaches the old’ world; it is bullion. Your silver is not money when it reaches the old woild; it is bullion Your nation can only make money for its own people, and, as Senator Sherman said a few days ago in the Senate of the United States, “The trouble with the Ameri an dollar is that you cannot get rid of it. If you pay it out, it comes right back to you.” That is the kind of a dollar for me, exactly.] (Cheers.) What we want is a dollar worth less as bullion than it is as money then it will stay at home. We wary! to make money for American people and not for Asia and for Europe At one period in our history, back about the time I was born, 1834, oiffl gold was over weight, our gold coinkj and this country, the Congress of tl J United States, realizing that fact th: J it was worth more as bullion in tl i| world, than here as coin, they passel a law reducing the weight of o n gold dollar, or our gold coin, soil would remain at home. We war! silver coins that will ciiculate I America, and if there is anything tl pay in the shape of balances it mi J