The advocate., 1895-07-31

being possible at the present day. Or
page III Coin says: we express va
ues in dollars, the unit of our monetar
system. That unit is the gold dollar @
GS9 grains Of pure gold, or 25.S grains O
standard gold. II we were to cut thi
amount in two, and make 1l.6 grain
unit or a dollar we would there
by double the value OF all the propert,
In the United States except debts.
lis not that statement wisdom for yol
In chunksp What head that boy mus
have Precisely such another proposition
would be: We measure cloth in this Coun
try, legally, with yard stick thirty-si1
inches long. If we were to cut the yarl
stick in two and declare by law tina
eighteen inches shall hereafter be yart
we would thereby double the amount O
cloth in the United States Holy Moses
What philosopher we have here Thel
cut 1t in two again and the cloth Woul(
be quadrupled. If the boy had said tina
by cutting the gold dollar into two pieces
and then changing our unit or dollar sc
that 1t should be only half as valuable az
1t Is now we would double the nomina
value OF all the property in the world, bu
would not affect its actual value in tht
least, he would have told the truth.
Before Mr. Harvey finishes his bool
he disolOses what he really meant by bi
metallism. We have it here in his owl
language, and it is in this book that
find the principles which am called upor
in this debate to combat. The author
says: The objection to independent bi
metallism is that the parity between the
two metals cannot be maintained at oul
ratio OF 16 to /, that Is, the gold-23S {
grains-in the gold dollar will be worth
more than the sllver-3;lN grains-ir
the silver dollar; we have twice changed
the quantity of gold in the gold dollar
each time making 1t less. If the CONNER
cial value of 20 2 grains Of gold is worth
more than the commercial value of S7lH
grains Of pure silver then reduce to *
grains, 21, ~ grains Of less, If necessary
to put the two at a ratio where the prac.
tical effect Of free coinage, when once set
to working again, will demonstrate thai
the ratio Is at Its natural point and parity
easily obtained.
"And then again on page 14S he says;
with silver remonetizod and just and
equitable standard of values we can, il
necessary by act Of congress, reduce tht
number Of grains in gold dollar till 1t
Is Of the same value as the silver dollar.
We can legislate the premium ont o.
gold. Now then, what becomes Of hi
ratio Of IS to /"
Harvey's reply was as follows: 'Mr
Horr alludes to something that l have
said before and then adds, Cut the
yard stick half In two and it will make
twice as many yards of cloth In thu
world Now, Mr.. Horr, let me tell yOC
what you people did in 1873. Yor
doubled the length Of the yard stick
For instance, let me illustrate it. Sup
pose one.half Of the gold in the worlt
were destroyed today beyond recovery
would not the gold dollars that were lef
be twice as valuable as they were before
Mr. Horr is not bad pupil and shakes
| his head. Let me illustrate it in another
way that every farmer in this country
will understand. Suppose that one-hali
of the wheat in the world today were de
stroyed beyond recovery. Mr.. Horr
would not wheat on the Chicago market
tomorrow be about double in value wha
it is todayP You cannot escape that
proposition, and it does not require a
man to be q farmer to understand the IL
lustration and any man who Is a business
man will understand the gold illustra
tion.
$50 that when you destroyed one-half tbs
redemption money in 1873 you doubled
the value of the money that was left
You doubled the yard stick. You car
see no harm in destroying the price of a
mans property, cutting the price of his
property half in two; you shut your eye.
to that. But your eyes are wide open
when any man proposes to even up with
you in your outting-in-half process by