The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1895-07-18
ON rHE OTHER Slp1

ON The Other HOE
statement Made b. MI. uksvey 1t the
Opening Of the Dst4te.
TCopyright secured by AselE Hatch, of
Chicago.]
am here to defend thf facts and
principles in Coins FINANCIAL School.
/ am aware that the illuttrations in
that book are great aid in presenting
clearly it's views. We findsthis true in
our schools. Many scientific works
rely largely on illustrations, and our
newspapers find that illustrations make
plain many ideas that could not other
wise be clearly expressed, and yet am
here to defend orally those same prin-
ciples. 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 coinage system in this country
from l792 to 1878. just as the yard
stick was the measure OF length. That
gold was measured in this silver unit,
and concurrent coinage given to it
(gold); that silver and gold combined
constituted the legal standard Of value
in this county till 1868; silver measured
gold; the two together measured all
other property.
2. That the act of 1878 was surrep-
titiously passed.
8. That during the period 1899 to 1893
the minis were open to the unlimited
coinage Of both metals into primary on
redemption money, and that both were
treated as such. That during that
period 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.
4. That this bimetallic system made
an unlimited demand for both metals
to be coined into money, increased the
demand for these metals and so long
as this law authorizing anyone to coin
371I grains Of silver and Is 40 grains
Of gold into dollar, there was no one
willing to sell either for less than a
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 COM
mercial value. We are for both silver
and gold. We are called silver men
because we are defending the metal
that has been demonetized.
q. That it is to the interest of the
United States to act Independently in
the recommendation Of silver at the ratio
to gold of 16 to /, without waiting for
the action of any other nation.
2. That monometallism consists in
the use Of the dearer of the two metals
to the exclusion of the other, as pri-
mary or redemption money! That mon
ometallism is an experiment. on trial
for the first time in the history of the
world, and began with the period 1878.
That it is impractical and impossible
as stable money measurement OF val
ues; is not based on scientific financial
principles; is in the interest of the
money lenders, and against the inter-
est of the property owners and laborers.
=. That the gold unit, as the meas
ure of values, with no concurrent COIN
age, or another metal to assist it in
performing the functions of primary
money, has caused the fall in prices, as
compared with 1879, when the worlds
prices Of property weremeasured in the
money mass Of both metals. That all
prices Of property and labor have de-
olined accordingly a. compared with
1872, except when held up relatively by
incyeased deman6ur short supply, or
combines and trusts, or special reasons
affecting particular serviceor prop
srty. That tho average pri6e of all
production, except gold. will show this
decline Il ad36sting itself to the gold
standard. Ard that when we include
in labor Tho unemploved and time lost
BY those employed, there IL fall in
wages Of one-half - compared with
1879. That labor Il adjusting itself to
the gold standard measurement Of
values.
8. That the decline in prices cover
ing period Of ~ years has as rule
made all classes Of productive mercan-
tile and manufacturing business I'M
profitable. That falling market COW
ering long period destroys the pros
pective profits based on cost Of purchase
and production and majority Of our
most astute business men cannot avoid
failure or loss Of capital under these
conditions.
10. That it has worked hardship
and injury to debtors who, unconscious
Of the causes that continuously reduced
the prices Of their property, have con-
tracted debts during these ~ years.
That this fall in prices caused sacri-
fee Of property to purchase the dollars
with which to Hquidate these debts.
That this has caused the renewal Of
debts. the contraction Of new debts to
pay old debts, and an enlarged volume
Of all debts. That this unjustly takes
from debtor his property and empha-
sizes the. importance Of stable money
measurement Of values.
IL. That in the end no one IL bene-
fitted by fall in price but the money
lender. the owner Of money and &C.
curities payable in money. fixed in
comes.
IL. That the foregoing facts and
conditions produced BY . change in
our money measurement Of values, win
impoverish the masses Of the people.
and points by reason Of the disturb
ances that it will produce. 70 the over
throw Of the republic.
To all unbiased men, and those who
will lay aside their prejudices during
81. az. - r1;ur =, - <Lsc doho "a ovuAok ts