Courier Democrat. (Langdon, N.D.) 1891-1920, 1895-08-08

n 4 +. 3 d r. s. 4 . + e
one only becomes tA3 measure of values. A
other metal in COMPETITION with gold than
he can getit now. now pass to the ques-
ton Of 18 to 1. "a
We maintain that there will IL a COM
mercial parity between gold andSSsllver at
the ratio Of IS to I II the law Is passed
putting both mGtsls on an equal footing
at that ratio. Whl,. We mean by an equal
to enter the mints ~ coined Into
be dollar and s71A Kfanss Of pure silver
10 oe dollar: Tbs money made from
In the payment Of all debts and the debtor
to have the right to ray in either metal.
| NO notes, bonds or other form of Indebted
ness to be made payable in either metal
to the exclusion of the other. All Indebted
ness to be payable in lawful money and
either gold or silver to discharge such In
debtedness.
Tho two metals will then be in comnetl-
ton with each other to supply the demand
Tor money. The supply Is limited and the
demand Is substantially unlimited. What
we mean by the demand being unlImi.el
Is this: When man owns either metal
ana 1t is surplus over and above what Is
needed In the arts, he converts II into
money at the mints and puts 1t himself
into circulation. :.
MI. huiVey asserted that the demands
| OF business In this country would
absorb all Of the silver available for coin
age II all OF the gold and silver in the
world were sent to our minis for coinage
1t would be to the benefit of the United
states, and the injury of the rest of the
world. Money in circulation made bust
| ness, he said. just as life does NOT make
blood, but blood makes life.
! Money In Savings Banks.
J MT. Horn Is
Z little badinage, said that the savings bunk
depositors had $1,712, 100000 on deposit.
which 1t was proposed to cut in two.
Building and loan associations had ], 725. 900
deposltors. with an aggregate Of $525 S52.-
600 due them. In addition to these there
and life Insurance companies, all of which
were to be allowed to pay In deprecated
money. And the money in tho pockets of
every man and woman In the United
States was to be halved In value. All of
this for the benent of 10000 silver men.
why, tnelr output was not worth half as
much as the eggs yearly laid by the hens
OF the United States. and was about equal
in value to the peanut crop.
But the worst feature, he asserted would
be the destruction of all credit 1t would
bring about the worst panic the nation ever
saw. The paralysis of business would be
complete. for % per cent Of the business of
the world was done on credit.
Mr. Harvey, replying, said that thou
sands OF men had been financially wrecked
by their inability to keep UP their life
insurance payments. He declared that
there rev, was but one worse crime than that
of 1873, and that was of the man who
claimed that the defenders of silver meant
population. He thanked Mr.. Horr for the
Illustration rs to the small amount of silver
! in the United States. That was the claim
Of the silver men. There was no danger
absorb it. This nation could take all of the
silver which the nations of the world bring
to US in exchange for products in single
year; we could reproduce those products
and ask them to come again. We could
thus absorb all of the silver in the world
ii necessary. The history of nations showed
that the more primary money it had the
more prosperous it was AS long as the
United States could make an unlimited
demand for silver at fixed ratio. the hold
ers Of silver would not part with 1t for
any less. It would give us the trade of the
silver using nations of the world, and the
control of commerce would be transferred
from London to New York. 1t would in
crease our trade with the gold standard
| nations of Europe through our control of
! the products of the silver standard nations
"It will take time to break the hold that
England has on the world, with her gold
standard debts. But in tn we shall have
the sympathy Of all the nations that are
now paying her tribute, from poor little
Nicaragua to republican France. We should
Immediately exert our influence to save
Japan and other nations from going over
to the gold standard and stop the conquest
Of the world that is being made by the
money power of England. She is heartless
and cruel in the extreme. She enforces
the debts due her citizens from the citizens
of other nations by laying tribute, impos-
ing smart money and taking possession
sion of Egypt in the interest of her credi-
tor citizens and imposes and collects taxes
upon those people, who are her bonded
slaves. She is the bully of the seas and
financial octopus of the world. It's tenacles
reach into every nation in the word in
s Guiding n our own. sucking from them their
life blood. We bow our heads in humll!a-
ton and admit that her great banking
house is now behind this government: that
we are at Its mercy to sustain the credit
Of this nation and have paid in the last
six months $5,O00,000 tribute to get money
eign act"
Silver and Eggs.
Mr.. Horn, in turn, said he spoke before,
not OF the quantity Of silver in the country
in comparison with eggs, but of the amount
| of output of silver. There was consider
able difference in the staying qualities of
silver and eggs. The trouble, Mr.. Horr de-
gold would leave the country and our bust
ness would be on a basis different from
the rest Of the world.
He argued that there was enough gold in
the world for the transaction of the legiti.
mate business, and the annual output Of the
mines of the world was large enough to
meet the increase Of the worlds business.
In proof of this he quoted the increasing
production Of Africa. Russia, India, Aus
tralia and the United States and the open
ing OF new and rich mines
Since 1850 the supply of gold In the world
had increased from about $1,000, 5000 to
over S12,00O,O 100000, with indica lions of con-
tinued rapid increase. New processes and
new mechanisms, he declared. were being de-
veloped rapidly to cheaply furnish the gold
cure for Mr.. Harvey's silver jim jams.
Mr.. Harvey said that the more rapidly the
blood coursed through the body the more
blood was needed. So, with the higher
civilization, the more rapid the exchange of
commodities the more money those ex-
changes required for their accomplishment.
H1rvay aoid of wi hod