The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-06-21
THE GREAT DEBATE.
EDITOR HARVEY MEETS AND
vANoUisHEs A GOLD BUG.
a Synopsis OF the Argument ON Both
sides-rhe Gold Standard Man Badly
Worsted Cheers for Free Silver
Coinage.

paw IA SAlCo6O IAC OInCl nISnI Aol ulS
paralleled in the West since the famous
struggle between Lincoln and Douglas
on the eve of the civil war. The plat
form combatants were two giants of
the opposing sides in the raging finan-
cial controversial. Lawrence Laugh
ling, professor of political economy in
the University of Chicago, the %fayorite
authority of President Cleveland, and
William H. Harvey, author of Coins
Financial School"
The spacious rooms of the Illinois
club on Ashland boulevard were crowd
ed to almost suffocation when the presi-
dent of the club, Dr.. Homer M. Thomas,
announced all in readiness for the
dress-suit gladiators.
The proposition to be discussed was
read as follows:
Resolved, That the United States
should at nee enter upon the free coin
age of silver at the ratio of 16 to 1, in
d%ependently of the action of any other
nation"
MI. Harvey, it was stated, would
speak for an hour in the affirmative
and Prof. Laughlin one hour and thirty
minutes in the negative, Mr.. Harvey
then having thirty minutes for a re-
joinder.
Mr.. Harvey is a rather tall, spare,
dark-compleXioned mar of engaging
presence, but of a nervous tempera-
ment. He was evidently full of sup
pressed excitement when he came for
ward to begin his address, but he soon
steadied himself admirably.
Prof. Laughlin's wiry frame and
blonde but stern appearance is sug-
and he had the advantage of not being
the first to speak. Both men were liber-
ally applauded.
HARVEY'S ARGUMENT.
In opening for the affirmative Mr..
Harvey said: THE first reason why I
am in favor of independent action by
this country is that we should not be
subjected to the influences of the gov
ernments of Europe. If the people can
be reduced to poverty and the prosper.
10y VI l1c CuIteu oldlSS CdI DSl ullSu Wy
hanging to the financial policy of Eu-
rope, then we can be reduced to the
same condition by financial legislation
as a war of conquest would reduce us"
After referring to what he termed the
plutocracies of Europe and stating that
the few control class legislation, while
the masses are hewers of wood and
drawers of water, he said:
Nov, if financial legislation is one
of the classes of class legislation by
which the many are robbed and the few
are enriched, by which the lemon is
squeezed, then it is one Of the institu-
tions of the European governments
that we, as a nation Of people, repub-
lican in form, should declare our in
dependence of. That is the first rea-
son why independent financial action
should be taken by the United States"
The speaker went on to say that this
country can have an Independent finan-
cial system without any reference what
ever to the balance of the world. There
was no such thing as international
money. What he was c%ontending for
was the opening of the minis to the free
coinage of silver and the establishment
of bimetallism on the principles that
were adopted by statesmen who had in
view the interests of no class, best Of
all, the people.
He defined scientific bimetalIism
TINS:
l. Free and unlimited coinage Of both
gold and silver; these two metals to
constitute the primary or redemption
money of the government.
2. The silver dollar of BIN grains Of
pure silver to be the unit of value. and
gold to be coined into money at a RAJ
ito to be changed if necessary from
time to time, il the commercial parity
to the legal ratio shall be affected by
the action of foreign countries.
3. The money coined from both
ment of all debts.
4. The option as to which of the two
moneys is to be paid in the liquidation
of a debt to rest with the debtor, and
the government also to exercise that
option when desirable when paving
out redemption money.
He then referred at length to the adj
vantages given gold over silver, By the
unlimited coinage of the former, silver
having a limited demand and being a
commodity measured by gold. Silver
had been shut out and was token mon
ey. He wanted it restored to the I'M
limited demand it enjoyed prior to
1873. He would give silver the same
privileges as gold, Restoring II IN this