sale of stocks in Europe which have turned out to be worth far less than they were represented to be.
I consider it my first duty as a citizen of the United States, as an American, to deal fairly and honestly with the foreigner as well as with the countryman; and as an American who has the honor of the country at heart I cannot afford to induce a foreigner to invest money in a venture concerning which I have such good reason to fear that it will be a losing business. I shall tell that gentleman, “Send your money here and tell all your friends to send theirs as soon as we enter upon a policy that will be directed toward specie payments,” for then I shall know that the value of the capital so invested will be safe; but I should not consider it honest advice, did I tell him to convert his gold into our paper money, as long as there is danger that the paper money might be depreciated by inflation.
Mr. Cameron. I trust the Senator will allow me to interrupt him for a moment.
Mr. Schurz. Certainly, with great pleasure.
Mr. Cameron. Does he believe he would be swindling his German friends by advising them to send their money here and invest it in mortgages upon good lands, and good houses and good buildings here? Does he believe that all the people of this country are scoundrels, and that they want to get the money of Europe here upon dishonest and fraudulent representations?
Mr. Schurz. No, sir.
Mr. Cameron. Does he not know that there is no part of the world in which money upon first mortgage upon real estate is so safe, so secure, as it is in the United States, and in every part of the United States?
Mr. Schurz. Yes, sir; I know all that. I know that for myself I would ask for no better security than a mortgage on real estate in the United States; but I know
