When the collapse came it was absolute; there was no mistake about it; the collapse was perfect. Then the people of Michigan had enough of "more money;" and when our constitutional convention met, as it did a few years later, they put into the constitution a clause prohibiting the Legislature forever from chartering a bank or affording the means of furnishing "more money;" and the people acquiesced in it. They had enough of the "more money" cry; and for twenty-five years there was no more cry in the State of Michigan for irredeemable money.... The losses to which I have referred did not fall upon the moneyed men of the State of Michigan, the men who were in sound condition. They fell upon the laboring man, the farmer, and the mechanic. They fell upon the men who could least afford to submit to the loss. So it is now. Why, sir, our values are fixed by a foreign market, and in coin. There is not a bushel of corn or a bushel of wheat raised in Indiana, or Illinois, or Michigan, the value of which is not fixed by the foreign value in coin of that particular article. When you enhance the cost of production by an inferior currency you put that loss upon the producer, and the loss falls not upon the wealthy man, but upon the laborer and producer. Money will take care of itself all over the world. If it is not safe in this country, it will find a country where it is safe, and it will go to that country, no matter where that may be. Hence, capital requires no protection whatever from this body; money will take care of itself; but the poor man, the laboring man, the man who submits to all the losses from this depreciated currency, is the man who suffers all the pain and all the injury that are inflicted by this false legislation....