St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-13
And will Have Trouble in
Getting the Necessary Two
Thirds Majority.
-OTHER BIDS WERE IGNORED
But the Assessment Made for
Brick Last Year Was
Knocked Out.

ropolitan theater last evening. Mr..
Harvey, for that is the name of the.
author of the saucy little financial
books that have attained such wide
celebrity, has made an excellent inn
preston in Minneapolis, and his au-
dience last night was much larger
than on the preceding evenings.
Without any of the tricks of the
orator, or the volubility of the
stump speaker, Mr.. Harvey is an
entertaining speaker. He is slow,
heSitating at times, and, from the
nature of his subject, dry; but his
earnestness and dignified, scholarly
bearing secure for him a respectful
hearing. The faces of the auditors
reflect interest and sympathy with
the arguments of an educated gen
tleman, whatever may be the indi-
vidual opinions back of them.
Last night the speaker was elo-
quent in his quiet, earnest argument
for a spirit of financial independ-
ence in this country. He urged his
audience to throw off the shackles
of England and take a firm stand.
To say to the nations of the world
we are the great United States, and
are competent to regulate our own
finances without being a borrower
until the end of time. A brief alb
stract of Mr.. Harvey's remarks is
as follows:
To understand the subject of in
dependent free coinage, the first
question is, what is meant by par
ity between the two metals. 1t
means that the commercial value of
the gold in the gold dol
lar is worth in the mar
ket the same as the commercial
value Of the silver in thesilver dol
lar This would be parity between
the two dollars. This theory con-
templates to start with the guam
t1ty OF metal in the dollars re-
spectively is fixed, interchangeable
and unalterable. If this were true.
and by some decree of fate it could
luoe changed in size or weight,
iothen this question would have
i7to be argued solely from
the standpoint thus taken. Ar
17gulng from that standpoint alone.
the parity of the two dollars. the
gold dollar on the one hand and
| the silver dollar on the other. we
depend upon the demand for the
two metals, the supply being com
p par raattlIyely. limited. When say linz
lted l mean that the precious metals
are not like other products of the
1rearth that everybody can go to pro-
ouclng and produce ad Iibitum.
/ Ihey are buried in the earth. and
are hard to find. BY reason of their
scarcity they are known as precious
metals, and are limited. Therefore
1t is to the demand that we shall
turn our attention. 1t is a fixed
! law OF trade, and makes common
! ground on which we can all stand
i tnat demand increases the exchange.
able value of any commodity. If
the demand for gold is equal to the
demand for silver, at the ratios es.
tabl1shed, say Is to 1, then the par
lty would be fixed, one would be
worth just as much as the other.
AT the present time silver is the
money of unlimited coinage in Mex
leo, Central America and South
i America, as we'll as China and ia
i pan. In addition to this there is {
I demand for it as subsidiary coin b!
all the other governments of thu
earth. Again there is a demand fol
it in the arts and manufactures
On the other hand, gold is the unlim
tied coin Of the European govern
ments and the United States, and il
;-ccepted as money by all the othe
governments that enjoy free coinage
If an unlimited demand for tn
free coinage of silver were estab
lished by all the commercial nation
that now give unlimited coinage t,
gold, then no one would dispute TIL
establishment of the parity of tn
two metals at the ratio mentioned
16 to 1.
Independent free coinage .contem
] plates the establishment of an unlim
tied demand sufficient to absorb al
of the surplus supply of silver, in
dependent of the nations that will
not consent to it's free coinage. T.
give this unlimited demand, the frs
question is, Are the nations that ar
willing to throw their minis open t.
the free coinage of silver at thi!
ratio large enough commercially II
create a demand that will be unlim
dted in its nature and absorb the en-
| CT at a 6n ocsi
tfion another way: If, when the ma
tAtions that are now on a gold stand
ard shall have established free coin
age of silver, will the Importance
thus given to silver be as great as the
Importance given to gold? If the
KNITTED States throws it's minis oper
1 ITO the unlimited coinage of silver, we
Pwill have to begin with the South
American republics, and with China
and Japan. In these governments
1.-the coinage would be unlimited
kThat would mean limited by theil
capacity to absorb the silver of the
E5World. By absorption is meant The
tsexchange of products that might bt
p6ffered for silver, or silver for prod
uc'ts. This would cover at leas
one-half the population of til,
world. France expressed her will
ingness at the last International con
ference to follow the lead of the
United States in anticipation of The
action of this country. The United
States is the greatest commercial
government n the world, ani is
abundantly able to take care Of her.
self, financially ana every other way
The speaker dwelt at lengta ON the
4. heavy Indebtedness of this counti.
to England, AMI pleaded fora manly
spirit of independence to counieract
the dangerous influence of continu-
ing nation of borrowers.
He spoke Of the human i.y side OF
the question, snd Of the lowered
prices because Of the demone TIA