The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-17
able IN cases of nations. corporations ar IN


properous. The quality OF the money used
in any country is far more important than
the quantity. The laws should be drawn
10 protect the men who earn money. as
well as those who owe money. 4 man
who works faithfully and lives on his
daily earnings should never be sacrificed
for the benefit of men who live on what
they borrow. But all these things wsli ne
more fGiiy explained as the contest pro-
gregSeS"
Mr.. Harvey said:
Copyright secured by Azei F. Hatch. OF
Chieagop
Il am here to defend the facts and prin-
ciples in Gems Financial school am
aware that the illustrations in that hook
are great aid IN presenting clearly its
views We find this true in our schools.
Many scientific works rely on Illustrations.
and our newspapers find illustrations make
plain many ideas that could not otherwise
be Clearly expressed And Yet. am here
10 defend orally those same principles.
expect 20 make good N this debate the
following propositions:
I. That silver and gold are the money
Of the constitution That the silver dollar
was the ulsst of value IN our coinage sys-
tenn in this country from 179e 10 1873. just
as the yar3Sttck was the measure OF
length. That gold was measured in this
silver unit and concurrent coinage given
I
stituted the legal standard of value in
this country until 1SS silver measured
god; the two together measured all other
property.
80. That the act OF 1878 was surreptitIous-
~ passed.
q That during the period from 1Tae 10
1878 the mintS were open TO unlimited coin
age of both metals into primary or ~
deunption money, and that both were
treated as such. That during that period
the people had a right to have either met al
coined into fun legal tender money. and
that the option was with the debtor TO pay
in coins OF either metal
-. That this bi-netallic system made an
unlimited demand for both metals to he
! coined into money. increased the demand
for these metals and that 50 long as this
law authorizing any one to coin 37li4
grains OF silver and 3 2-l0 grains of gold
into a dollar was in existence. there was
no one willing 10 sell either for less than
a dollar
IS. That the option to pay in either
metal caused the cheaper of the two
|. metals to he used. and transferred the de-
mand from the dearer 10 the cheaper
metal, and restored it's 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.
&c. That IL Is to the interest of the
United States TO act Independently in the
reconciliation OF silver at the ratio of Is
TO /. without waiting for the action of any
other nation.
~. That mono-metallism consists In the
use OF the dearer OF the two metals, to the
exclusion OF the other. as primary or re-
demption money. That mono-metallism
is an experiment on trial for the first time
in the history OF the world. and began
with the period of 1873 That II Is imprac-
tical and impossible as a stable money
measurement of values: is not based on
scientific financial principles is In the in
terest OF the money lenders and against
| the interest OF the property owners and
| lahorers.
''s That the gold unit as the measure
| OF values. with no concurrent coinage of
| another metal TO assist IL In performing
the functions of primary money, has
caused the fall in prices as compared with
I ls,z, when fhe worlds prices OF property
were measured In the money mass OF both
metals. That all prices OF property and
! labor have declined accordingly. as COM
| pared with 1872, except when held up rela-
| lively by increased demand or short sup
| ply. or combinations and trusts. or by spe-
| cial reasons affecting a particular service
! or property. That the average price of
I all production. except gold. will show this
/ decline In adjusting itself to the gold
VI
| labor the unemployed and the time lost by
those employed. there is a fail in wages
/ OF one-half as compared with 1872. That
| labor IN adjusting itself to the gold stand
| ard measurement of values.
20 That the decline m prices covering
a period Of % years has. as rule made
| all classes Of productive mercantile and
! manufacturing business Improbable.
! That a falling market covering a long
! period destroys the prospective profits
| based on cost OF purchase and produc-
| ton and majority OF our most astufe
business men cannot avoid failure or loss
/ of capital under these conditions.
| 80 That it has worked a hardship and
injury 10 debtors, who until conscious of
/ the causes that continuously reduced tho
| prices of their property. have contracted
/ debts during these twenty-five years.
/ That this fail In prices causes a sacrifice
| of property to purchase the dollars with
| which 10 liquidate these debts. That this
| has caused the renewal Of debts. the con-
/ traction OF new debts to pay old debts,
and an enlarged volume OF all debts. That
this unjustly takes from a debtor his
| property, and emphasizes the Importance
/ OF a stable money measurement Of val
! ues
I'll. That in the end no one is benefited
| by fall IN prices but the money lender.
| the owner Of money and securities pay
I
| ~ That the foregoing facts and con-
sitions produced By change in our
money measurement OF values viii I'm
! noverish the massez OF the people, ana
/ rosrts bv reason OF the fstur1ances u
| will produce 10 the overthrow OF the re
| public
| ITO all unbiased men. and those who
| will Law aside their prsjudices during the
| reading % this debate expect 70 make
| good all the foregoing propositions. Every
fact in the school that Mr.. Horr does not
| attack I shall take for granted that ne
/ admits its truth. I am now ready TO
proceed in the order Indicated in Coins
| Financial School. and as contemplated
by the rules a the debate"
The debate proper began by Mr.. Horr
asking his opponent TO tell plainly II there
| ever was ANY such school held as tsat
| IA, describes in the book Coins Financial
| school" Mr. Horr said: II find all
through the book large number OF state
! ruarY-s attributed ~ a very considerable
| number cf m. husirsezss men of thlcaEo.
! and I am informed that those ne-n never
one s,Y them uttered a single ~rorA at
trgnufed 10 them. II che book - written
as an aIlsrcry would ike my friend TO
state why he ala not use. a. all literary
r1en have always done, the names or ffc-
tfffous individuals, unless he irtended 20
convey the impression thar those men
/ v-era present and receyed fhe casfiga-
ton which ne says he administered 20
| .he~o ~, Tho su.ot The hook even goes
f,-~shar II describes the crezf-failen man
nar in which some ~ fhe gentlemen left
80 rDor. after being waorste9 IN this fear
f,,f rr,a rs7er daughter feel now what
80 esn, 10 get at is the fact about the
book 80 THAI We VIII know how We are
proceeding