ry man with a dollar in his pocket, or who owns a farm or a
horse or a bolt of cloth or one hundred bushels of wheat, belongs to the
extent of that dollar or farm or horse or bolt of cloth or one hundred
bushels of wheat to the creditor class. The world is his debtor, and he
has it in pawn and pledge to him for the value of that dollar or farm or
horse or cloth or wheat. Now, a tariff law can be and frequently is
framed so as to lift or lower the 'prices' of all or any of these. If
your argument be good it should be just as potent to prevent a tariff
law that augments riches in one hand or detracts from riches in another,
as to prevent a coinage law that does the same.

"Properly speaking, there can be no separation of mankind into creditor
and debtor classes, since, as we have seen, every man with a dollar's
worth of property is in the creditor class to the extent of that dollar,
while the world is in the debtor class and owes him therefor. There can
be but two classes: those who own something, and those who don't. There
lies the sole natural division; and not a law is framed, whether it be
for a tariff or an appropriation or an army or a navy or a coinage or a
bond issue or what you will, that does not, in lesser or greater degree,
add to or take from the riches of some man or men. No government can go
its clumsy necessary way without stepping on somebody's toes, and if one
cannot have a currency because to have it will help this individual or
hurt that one, by the same token one cannot have a government at all.

"However," concluded Mr. Bayard, "I think your talked-of advance in a
gold 'price' born of coined billions might prove in the test to be
imaginary rather than real. There has been ever a gold-ghost to frighten
folk. There was once a time when men talked of resuming specie payment,
and the public hung away from it, fearful and trembling, like an
elephant about to cross a bridge. Horace Greeley cried, 'The way to
resume is to resume!' and every dollar-dullard called him crazy. And
yet, as the simple sequel demonstrated, the elephant need not have
shivered, the bridge was wholly safe, and Horace Greeley was right."

Senator Gruff, whom Mr. Gwynn had privately requested to assume control
so far as speeches and toasts and sentiments to be expressed were
involved, now held forth in terms of flowery compliment concerning Mr.
Bayard. He thanked that able gentleman for his theory of finance.
Senator Gruff would not d