The Dickinson press., 1895-07-27

tull legal tender money. ana that the option
was with the debtor to pay In colls of
either metal.
"Fourth-That this bimetallic system
made an unlimited demand for both metals
to be coined into money, increased the de.
mand for these metals, and 90 long a. this
law authorizing any one to coin 671k grains
OF silver and 23.2 grains Of gold Into Q dol
lar there was no one willing to sell either
for less than q dollar.
~'Ftfth-That the option to pay in either
metal caused the cheaper Of the two metals
from the dearsr to the cheaper metal and
restored Its relative commercial value. We
are for both gold and silver. We are called
silver men because we are defending the
metal that has been demonetixed.
"Sixth-That 1t 10 to the interests Of the
United States to act independently in the
reMonetixation OF silver at the ratio Of 10
to ], without waiting for the action Of any
other nation.
"Seventh-That monometallism consists in
the use of the dearer Of the two metals to
the exclusion Of the other 40 primary or
redemption money; that monometallism 10
an experiment on trial for the nrst time
In the history Of the world. aud began with
the period 1873; that 1t Is impracticable and
impossible as q stable money measurement
Of values; Is not based on scientific financial
principles; is in the interest Of the money
lenders. and against the interest Of the
property owners aud laborers.
Prices OF Property.
"Eighth-That the gold unit. 40 the meas.
ure OF values. with no concurrent coinage.
or another metal to asst 1t In performing
the functions Of primary money. has caused
the fall In prices. as compared with 1872,
when the worlds prices Of property were
metals. That oil prices of property and
labor have declined accordingly as com.
pared with 1872. except when held up re.
latlvely by increased demand or short sup.
ply or combines aud trusts or special rea'
sons affecting a particular service or prop.
erty. That the average price Of all pro.
duction except gold. will show this decline
Is adjusting itself to the gold standard.
And that when we include In labor the I'M
employed and the time lost by those EN-.
ploycd there Is a fall in wages of one-hnll
as compared with 1872. That labor Is ad.
ment of values.
"~Ninth-That the decline In prices cover.
ing n period Of twenty-five years has AZ q
rule made all classes of productive mercan.
tile and manufacturing business un.
profitable. That falling market
prospective profits based on cost Of pur
chase and production and a majority Of ouI
most astute business men cannot avoid fall.
ue or loss of capital under these condi'
tons.
'oTenth-That 1t has worked a hardship
and injury to debtors. who. unconscious Of
tile causes that continuously reduced the
prices Of their property. have contracted
debts during these twenty-five years.. That
this fall in prices caused q sacrifice Of prop.
erty to purchase the dollars with which to
liquidate these debts. That this has caused
the renewal Of debts. the contraction Of
new debts to pay old debts. and an en-
iarged volume. Of all debts. That this un
Justly takes from a debtor his property and
emphasizes the Importance of q stable
money measurement Of values.
"Eleventh-That In the end, no one Is
benefited by a fall In price but the money
lender, the owner Of money and securities
payable III money, fixed Incomes.
"Twelfth-That the foregoing facts and
| conditions produced by a change In oul
money measurement of values will impov'
erish the masses of the people, and points
by reason of the disturbances that 1t will
produce, to the overthrow Of the republic.
"To all unbiased men, and those who will
lay aside their prejudices during their read
ing of this debate. I expect to make good
all Of the foregoing propositions. Every
fact in the school that Mr.. Horr does not
attack 1 shall take for granted that he ad-
mits its truth. / am now ready to pro
coed In the order indicated In Coins FL
nancial School, and as contemplated by the
rules Of the debate"