The Delta independent., 1895-07-24
MIR. HARvEY's STATEMENT.

dul mere " ucitlu ti4c IdCts anu piIH
ciples OF Coins Financial school"
am aware that the illustrations in that
book arc 4 great aid in presenting clear
ly its views. We find this true in our
schools. Many scientific works rely
largely on illustrations, and our news
papers find that illustrations make plain
many ideas that could not otherwise be
clearly expressed. And yet / am here
to defend oral those same principles.
/ expect to make good in this debate
the following propositions:
l. That silver and gold are the money
OF the constitution. That the silver
dollar was the unit OF value in our coin
age system in this country from 1892 to
1873, Just as the yard stick was the
measure Of length. That gold was meas
ured in this silver unit and concurrent
coinage given TO it (goid.l That silver
and gold combined constituted the legal
standard OF value in this country until
1873. Silver measured gold; the two
combined measured all other property.
=. That the act of 1873 was surrepti-
tiOusly passed.
3. That during the period from 1892
to 1873, the mints were opened to the
unlimited coinage Of both metals into
primary or redemptio. money. and that
both were treated as such. That during
that period the people had right to
have either metal coined into full legal
tender. money, and that the option was
with the debtor TO pay in coins of either
metal.
1. That this bimetallic system made
an unlimited demand for both metals to
be coined into money, increasing the
demand for these metals, and 30 long as
this law. authorizing any one TO coin
37lIi grains of silver and % 2-lo grains
of gold into dollar, there was no one
willing to sell either for less than
dollar.
5. That the option to pay in either
metal caused the cheaper of the two
metals to be used, and transferred the
demand from the dearer to the cheaper
metal and restored its relative CONNER.
cial value. We are for both silver and
gold. We are called silver men because
we are defending the metal that has
been demonetized.
G. That it is to the interest of the
United States to act independently in
the remonetization of silver. at the ratio
TO gold of l6 to l, without waiting for
any other nation.
:. That monometallism consists in
the use Of the dearer of the two metals
to the exclusion of the other as primary
or redemption money. That monomet
allism is an experiment, on trial for the
and began with the period 1873. That
it is impracticablc and impossible as
stable money measurement of values; is
not based on scientific financial Princi-
pies: is in the interest of the money
lenders, and against the interest of the
property owners and laborers.
s. That the gold unit as the measure
OF values, with no concurrent coinage of
another metal to assist it in performing
the functions Of primary money. has
NauSea tAS idiI IA HiiScs ds SpihpdiSd
with 1872, when the worlds prices OF
property were measured in the money
mass of both metals; that all prices of
property and labor have declined &C.
cordingly as compared with 1872, ex-
cept when held up relatively by increas-
ed demand, or short supply, or com
bincs and trusts, or by special reasons
affecting particular service or proper
ty; that the average price of all prodlc
tions, except gold, will show that this
decline is adjusting itself to the gold
standard, and that when we include in
labor the unemployed and time lost by
those employed, there is fall in
wages OF one.half, as compared with
1877; that labor is adjusting itself to the
gold standard measurement OF values.
Q. That the decline in prices, cover.
ing period of twenty-five years has, as
u rule. made all classes of productive.
mercantile and manufacturing business
unprotitable; that falling market COW
ering period destroys tho prospective
profits based on cost OF purchase and
production. and majority Of our most as
tute business men connot avoid failure
or loss OF capital under these conditions.
10 That it has worked hardship.T
and injury to the debtor, who, uncon-
scious of the causes that continuously |
reduced the prices of their property. |
have controcted debts during these |
twenty-five years. That the fall in |
prices causes Il sacrifice of property to |
purchase the dollars with which to
liauidatc these debts. That this has |
caused the renewal of debts, the con
traction Of new debts TO pay old debts,