Now, I want to suggest two principles for you to apply in the discussion of the money question. I want you to understand, first, that the value of the dollar depends upon the number of dollars; that you can make money dear by making money scarce, and lest somebody should accuse me of plagiarism after I am gone, when I cannot answer the charge, I want to admit now, that when I say that the Government can make money dear by making it scarce, I am not using my own language, but only quoting what Mr. McKinley said in 1891.

He condemned Mr. Cleveland's administration, because he had attempted to degrade silver; had attempted to contract the currency and thus make money dearer by making it scarcer-money the master, all things else the servant. Those are the emphatic words of the man who day before yesterday said that Mr. Cleveland had been carrying out the Republican idea, and declared that if elected he would carry out Mr. Cleveland's idea.

Now, my friends, if the value of a dollar depends on the number of dollars; if making money scarce makes it dear, then remember that the people who own money profit by dear money, and that men are apt to like that which is good for them. And if the laws are made by men who want money dear, they will make money scarce in order to make it dear. If the people want a sufficient volume of money to do business with, they must secure that money through those who believe in more money rather than less money.

The other principle is this: Apply the law of supply and demand to silver. Increase the demand for silver and you raise its price. You decreased the price by closing the mints; you can raise the price by opening the mints. Now, here is our proposition. It can be stated in a very few words. We believe in reversing the legislation which has driven gold and silver apart. We believe that hostile legislation has raised the purchasing power of an ounce of gold by increasing the demand for gold, and that legislation has decreased the price of silver bullion by lessening the demand for silver bullion, and we believe that we can undo what the law has done. We believe that the opening of our mints will restore the demand, and that when this nation stands ready to take and utilize in its currency every ounce of silver presented at our mints at $1.29 an ounce, then we shall raise the value of silver bullion throughout the world, until one ounce of silver anywhere will buy $1.29 in gold.

Do you say, as some have said, that, if we raise the value of silver bullion to the value of gold, then a silver dollar will be as hard to get as the gold dollar is now? No, my friends, you ignore another great principle. When you restore silver and make silver dollars competitors with gold, then you take the strain off of gold and lessen the demand for gold; and lessening the demand lessens price. It will be easier to buy either a silver dollar or a gold dollar with the products of labor when you can buy either, than it is now when you have only one. But I must not dwell longer on this. I want to call your attention to another point. My friends, our opponents have been defeated in their efforts to convince the people that the gold standard ought to be maintained. They are seeking to do now what they have always sought to do-win the battle on another issue and, having won the battle, carry the gold standard a little farther. They are telling you that my election would be a menace to

peace and order. They tell you that I stand for lawlessness. I want to say to you, my friends, that I stand not only for the enforcement of every law, but I stand for arbitration as a means of adjusting difficulties by peaceable means. Our opponents believe in allowing the railroads to engage in a controversy with the labor organizations, and then call out the standing army to preserve order. I believe in compelling them to submit their difficulties to a board of arbitration and thus adjust peaceably what our opponents would adjust by force. You business men have been told that an era of lawlessness will prevail if I am elected. I want to tell you that until we find some means of adjusting the difficulties which arise between labor and capital, some system that compels both to go before impartial tribunals, you can expect increasing disorder instead of increasing quiet. I believe in the court of justice.

If one man differs from another I do not ask them to go out and settle it by fighting it out. I tell them to submit their case to a court, and let the court decide, and then let the Government enforce the decree of that impartial tribunal. And so, my friends, conditions have so changed that it is necessary now to extend the principles of the court of justice to boards of arbitration and let them sit in judgment upon the disputes that arise between the carriers of our interstate commerce and the employes of the railroads. I believe in arbitration; and, my friends, the best evidence that the principle of arbitration is just is to be found in the fact that not a Republican speaker has dared to stand before an American audience and condemn that plank in favor of arbitration. But without trying to condemn it, they go up and down this land preserving a discreet silence as to arbitration. How can you expect the Republican party to favor arbitration if it secures its hold upon the Government through the very men who defy arbitration and oppose it?

They tell you that I will not enforce the law. My friends, the fear of these people is not that I will refuse to enforce the law; their fear is that I will enforce the law. They know that I entertain old fashioned ideas upon this subject, and that according to my ideas the big criminals should wear striped clothes as well as the little criminals. I want to say to you that I believe in enforcing the law against all classes of society, and those who believe in that policy are better friends of the Government than those who would make scapegoats of little criminals and then let the big ones run at large to run the Government itself. The very men who would suffer most from the enforcement of law are the ones who seem to be most troubled. They are not afraid that I will encourage lawlessness, but they know that, if I am elected, the trusts will not select the Attorney General.

General Otis McG. Howard, editor of Farm, Field and Fireside, a distinguished soldier, and until recently a Republican, presided at the business men's meeting.

During that day I also made two addresses to women, the first at St. Stanislaus Hall, and the other at Battery D. At four o'clock in the afternoon an immense meeting was held at the Transit House, in the Stock Yards, and in the evening some eight or nine meetings on the West Side.

The forenoon and afternoon of Thursday were spent in a trip through the Northern part of the State, going out by way of Elgin, Belvidere, Rockford and Freeport, and returning through Dixon, De Kalb and Wheaton.

At Elgin I explained why the financiers preferred the demonetization of silver to the demonetization of gold. There are several reasons: In the first place, the plan to bring the world to monometallism has its center in London, where gold is the standard, and it was natural that those most interested should prefer to have silver demonetized rather than gold. In the second place, when silver was demonetized, the production of silver was increasing and the production of gold was decreasing. Therefore, those who wanted to make money dearer, knew that it was safer to demonetize silver than gold. In the third place, a larger proportion of the annual product of gold than of the annual product of silver is used in the arts. Hence, the demonetization of silver materially lessens the quantity of metal annually available for coinage. In the fourth place, those who handle large sums of money prefer to ship gold rather than silver, when shipment is necessary. While any one of these reasons might be insufficient in itself to account for the hostility to silver, the four, in my judgment, enter largely into the calculation of those who are responsible for the crusade which has been carried on for twenty years against silver as a standard money.

Some eight or nine meetings were arranged for the evening, the last being held a little before twelve o'clock, at Brand's Hall, where Charles Perry, Esq., secretary of the Carpenters' International Union, presented some engrossed resolutions, which are given below:

Resolutions Presented by Carpenters' International Union.

At the regular meeting of the Trade Unionists' Silver Club held this day the following resolutions were unanimously adopted:

Whereas, in order to the maintenance of a "government of the people, by the people, and for the people," experience has demonstrated that it is essential that those charged with the administration of the Government should not only be men of unquestioned ability and approved courage and integrity, but should also be men free from all entangling alliances with special classes of the people, and without obligations to persons or interest which may tend to impair that perfect liberty of action which is essential to the full and unhampered performance of duty to the whole people, whether such obligations be of a purely personal character, or whether they result from the nature and extent of the support furnished in the progress of the campaign; and whereas, we recognize in William J. Bryan, the candidate of the hosts of the plain people, battling under the standard of Free Silver and Reform, for liberty and

humanity, a man of splendid abilities, of tried courage and of unquestioned integrity and stainless private character, who owes his candidacy to no special interest, but to the movement in behalf of the whole people, who is free from all entangling alliances which might tend to fetter his actions in behalf of justice and the commonweal, and who, when elected to the Presidency of the United States, will owe that election to the manhood suffrage of the country and not to money, to the plain people and not the plutocracy, to the masses and not to those who style themselves the classes, to the self-sacrificing labors, the loyal support and the enthusiastic championship of the hosts who labor, and not to the contributions of the rich; and whereas, being thus freely called by the uncorrupted suffrages and voluntary choice of his fellow-citizens in the Republic to the performance of the sacred duties of the most exalted office in the world, he will be free to enter upon the discharge of those duties without fear of favor, and with no other obligation than that of conscience to work for the welfare of the whole land, therefore,

Resolved, by the Trade Unionists' Silver Club of Chicago, That we pledge our unwavering and loyal support in this campaign to William Jennings Bryan for the high office of President of the United States of America, believing that his election will be conducive to the general welfare of our beloved country, and will surely tend to the establishment of better financial conditions wherefrom the toiling masses of the whole world will derive manifest and great advantage,

Resolved, That a copy of this minute be furnished Mr. Bryan, to evidence in some measure our esteem for him as a citizen, our confidence in him as a leader in this struggle for humanity and our love for him as a man. Dated in the City of Chicago, October 29th, 1896.

O. E. Woodbury, President.

EXECUTIVE COMMITTEE:

W. T. Sherman,

S. S. Vaughn,

Joseph Daze,

Fred H. McManus.

H. G. Berry, Secretary.

P. J. Dalton,

John G. Mitchell,

Alfred C. Cattermull,

Hon. Thomas Gahan, member of the Executive Committee of the National Democratic Committee, and Robert E. Burke, Esq., secretary of the Cook County Democratic Committee, were with me at all of these meetings, and others joined us from time to time. Hon. Joseph Martin, candidate for Congress, accompanied us on several occasions.

CHAPTER XLVIII.

A

FROM LAKE MICHIGAN TO NEBRASKA.

NIGHT'S ride from Chicago enabled us to reach Green Bay, Wis., in time for an early morning meeting. The air was cool, and, to be entirely frank, the audience at first shared somewhat the temperature of the atmosphere, but warmed up as the meeting proceeded.

We made short stops at a number of places, prominent among which may be mentioned Appleton, Oshkosh, Fond du Lac, Watertown, Jefferson, Janesville and Madison. At Oshkosh ex-Congressman Miller, a colleague in the Fifty-second Congress, was a member of the Reception Committee. Hon. James Malone, member of the Democratic Notification Committee, was with us during a part of the day, and ex-Congressman Clinton Babbitt, also a former colleague, was one of our party during the entire day. Our host upon this trip was ex-Governor Peck, whose sterling qualities and genial ways have given him a reputation which outshines, if possible, the reputation of his "Bad Boy."

As the campaign drew to a close the canards increased in number and variety. Natural or unnatural deaths had terminated the careers of cabinet rumors, of stories in regard to promised postoffice appointments and employment by the silver barons, and last of all the report that I had been an indifferent performer of an inferior part in a small theatrical company. But now religious prejudices were appealed to, and I was accused of being about everything which anybody could find fault with. As an illustration of the conflicting charges I might add that I received on the same day two letters, one announcing that a newspaper had charged specifically that I was a member of a certain. lodge or council of the American Protective Association, and the other calling attention to the circulation of a statement accusing me of unfriendliness to public schools. Learning that these charges, circulating generally by word of mouth rather than through the papers, were influencing the opinions of some, and knowing that time did not permit correction through ordinary channels, I gave out during the day an interview upon the subject and afterward embodied it in my speech at Madison. It will be found below: