The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1895-08-01
THURSDAY, AUGUST l, 1895.
The Great Debate.

mas proved as Interesting DIS do GA
Dected, not from any lack of ability or
knowledge of his subject on the part OF
Horr or of skillful dialectic fencing on
the part of his antagonist, but partly
because the plan of the debate, which
cut up the time allotted to each to al
ternating periods, apparently, OF five
minutes, did not admit of the connected
or complete development of the argu-
ment on HOrr's side, which was desira
BILE, and partly because the greater
part of the debate was devoted to ques
tons chiefly of historical interest, hay
ing only remote and indirect bearing
on the main question. From Harvey's
point of view these historical matters
have a definite, logical relation to his
position on the silver question. That
position is, in substance, that the sill
yer dollar was established, by our first
coinage act, as the sole unit and meas
nre of value; that it remained so till it
was stealthily, under British influence,
demonetized in 1873; and that thereby
in consequence of the fall in prices and
the rise in gold, great wrong was done
to all property owners and all debtors,
which can only be redressed by the
. free coinage of silver at the old ratio OF
16 to l, and the debasement OF gold
coins to the silver standard. 1t is un-
necessary to repeat that every step by
which he reaches this conclusion has
been over and over again demonstrated
to be q Justification of historical and
economic facts. Mr.. Horn has shown
them to be so, but as fast as an old
falsehood was beaten down Harvey was
ready with a new one to take it's place,
and his reckless disregard of facts has
gone far to make the debate ridiculous.
The plain, indisputaDle fact is that
cold has been, in all commercial prac-
lice. the standard of value in this coun-
try for over fifty years. All contracts
during that time have been made with
the understanding that they were to be
discharged in gold values. Every
United States bond has been issued and
sold with that understanding. Every
railroad bond; all the obligations OF
corporations; all mortgages; all life in
surance policies, all agreements OF
every kind to pay money at some tu-
ture time have been based for fifty odd
years on the gold standard, with the
implied understanding that they we're
to be paid in gold. Since 1873, or for
twenty-five years, gold has been the
sole legal standard of value. And all
contracts or agreements by corpora
tions or individuals to pay money III
that time have been virtually gold con-
tracts. There are very few existing
contracts whose life dates back before
1873. and there are certainly no debts
owed by individuals in this country
which were not incurred since that
time with the express legal obligation
to pay them in gold or its equivalents.
But wherever contracts do exist which
antedate that year they were still IN
Cured when gold was universally ac-
ceDted and recognized as the sole
standard of value in commercial or
common usage.
Therefore, when Mr.. Harvey pro-
poses to substitute the silver dollars for
the gold standard on which all bust
ness transactions have been based for
over fifty years, and to debase the gold
coins to half their present value in or
der to bring them down to the level OF
silver, he deserves, at least, the credit
of unblushing frankness. For this is
an open confession that the free coinage
of silver contemplates the most stupen-
dous swindle which was ever attempted
to be exploited by madmen or knaVes
in any country under heaven. 1t is a
scheme to repudiate the half of every
form of pecuniary obligation entered
into by the nation, by the states, cities,
counties and school districts; by every
corporation, savings bank, insurance
company and private individual. Such
scheme need not be discussed in these
columns. 1t is simple, unadulterated
rascality The nation or people which
should undertake to do this sort OF
thing would sink to level of infamy
which would place it outside the pale
of civilization. The individuals who
attempt it have, at least, to go through
the forms of bankruptcy before it can
be done without prolonged residence
in the penitentiary, and no legal sane
ton could make it less swindle.
The man who is dishonest enough to