The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-06-21

plain a. q pikestaft that this money
claim is increasing in value all the time
1t has been for 90 years and assuredly
win for 20 moro il we complete the de-
monetization Of silver. It isn't fair.
But the debtor has some rights. No
body denies that in all the years from
1885 to 1879 Resumption date) the
changes worked against the debtor.
Now, by sort Of accident, remonetiza-
ton would hurt the creditor. Why
should he not stand it as the debtor didr'
would not gold go abroadY
II hope so. Indeed am sure that an
export Of $200, 000, 900 in gold in the next
two or three years would be Of vast ben
eft. It would completely supply the
present abnormal demand in Europe,
and that would raise prices there. That
would mean an advance in the price Of
beef, corn, wheat and cotton especially
the last two It must be remembered
that we now have too much gold for
Europe to drain us.
"The United States is now too big to
be bossed. Unless all political economy
is lie the addition of an enormous mass
of gold to Europe's supply would greatly
cheaper it, and our vastly increased de-
mand for silver would increase its value.
But do not agree with Senator Stewart
that the two would soon be at par. That
I regard as the work of several years.
And by the way, since coming to Rock
vile have borrowed file of the New
York Tribune, weekly. and read the
Horr-Stewart discussion, and it seems to
me that neither is quite honest in his
methods. l am very much surprised
that Mr.. Horn falls into that gross error
that all other goldites have lately avoided
of predicting contradictory evils"
"What are they9'
HE first says that the silver bullion
lists want free coinage so that the United
States will be compelled to pay them
$1.29 per ounce for their silver and i'm
mediately after says that free coinage
will reduce all our currency to the pres
ent silver basis. On one hand free coin
age is to make bar silver worth it's old
price in gold, and on the other it is to
leave it just as it is and debase the cur
rency. That is manifest nonsense. The
silver owner will. it is true, get $1.29 for
his bullion, but he will get it in silver
Free coinage either will or will not re-
store the parity. If it does, there will
be no 'debased currency If it does not,
and whether it does or not, the silver
owner will only receive the commercial
value of his silver.
Another argument of Mr.. Horr's
seems to me to defeat itself. In denying
that gold has gained in value he takes
the broad free trade ground that civ
ilization-that is, invention and trans
portation-has cheapened commodities
greatly. He then says that the same
forces resulting in increased production
have cheapened silver. Therefore, he
adds, silver at the old ratio is too cheap
To my mind the conclusion is wretched-
ly illogical. If commodities have cheap
ened a third since 1870, and protection
lists tell us they have, and if silver has
also cheapened third, as Mr.. Horr says,
then surely silver is by far the best pos
sible continuous measure of values.
"What sort of sense is there in assum-
ing that one solitary substance, gold,
has stood unchanged while everything
else has depreciated-land included?
But, as said at the start, the subject of
greatest concern is the fixed and perma-
nent debt that has not decreased. The
81, 200, 000, 900 per year must be paid on
the national and provincial debts and
probably an equal amount on other long
time debts. To the taxpayers of the
world the result since 1870 is just the
same as if all those debts had been arbi-
trarily increased by one-third. Rock
vile Qnd.) Tribune.