St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-08-07

only used to misrepresent the condi-
ton of his country. His entire table
of debts is composed of doubling up
of real debts, and is a SANDER on the
actual condition of the American peo-
pie.
DRIVING OUT GOLD.
"Mr. Harvey virtually admits that
the action which he proposes will put
this nation on a silver basis and drive
gold out of this country. His state
ment that the gold dollar should be
cut down until it's value be no more
than the commercial value of the silver
in the standard dollar is a complete
admission of this point. Hence / have
right to assume that his plan con-
templates such a result. 1 showed
concluSively that this would work in
jury to seventeen million people who
work for wages. l also showed that
the injury would extend to all pen
Sloners, savings and other bank de-
positorS, and the holders of insurance
policies, aggregating twelve millions of
people, and 10 every person in the Unit
ed states who has any money except
gold coin: What was Mr.. Harvey's re-
ply to disproye my statements? Not
one word. On the contrary he has
shown that benefits will come to no
people except silver mine owners and
insolvent debtors. Mr.. Harvey said
nothing to offset my proposition that
such action would destroy the credit
OF our people and lead to business dis
aster In every community in the United
states. Good. money may rightly be
called the life-biood of the nation but
credit is the atmosphere of business
ne me perfection of credit is the
glory of modern business methods.
liquidation in any form is abhorrent
to honorable men. On this account the
business men are almost unit against
TINS scheme. Go where you will, mer-
chants, bankers, managers of greas en-
tefprlses, successful farmers, intelli-
gent mechanics and working men, are
opposed to injuring the country and
themselves simply to benefit a few. I
nave from the beginning arraigned this
Sch6me as being class and sectional
1eglsiapon Of the most obnoxious kind
w nat mas Mr.. Harvey said to disproye
my statements? Absolutely nothing.
submit to the people of this re-
public that they should never hermit
threats of revolution to induce them to
HOP aiaoPt wholesale Reputation. The civil
ilzed world is clearly on my side of this
issue L protest against any atIempt
70 lead this republic into the camn
OF the half-civilized and barba riolis
r en1sin a OF the world Let US rather
PIE who have large experience and
sound business sense"
HARVEY RECAPITULATEs.
summary by w. H. Harvey:
Inc debate settles, in nv iude.
ment; the following propositions:
of Il ~ nat gold and silver are the money
GontroVert this, and 1 left it viii,
Danlel Webster's statement to that er-
tect. The main strength underlvins.
rlias proposition is a knowledge of tbs
tne Whoie debate. AS token money Sit.
yer performs none of the functions in.
lended by the constitution. Since this
eHnaee the press dispatches report the
supIv me court OF Ohio as deciding tina,
d nunlclpality cannot issue bonds nav.
ape IN gold alone; that such bonds
shouiq be payable in either gold or si:.
eel. II mat court has done so it has
GdtedIty decided rightly. There is no
99ouot IN my mind that the United
states supreme court would decide mn
constitutional the act of 1873, if If had
nee1 sooner understood AS a prac.
st,a business .l that act in effect had de,
stroyed the function Of money residinc
IN silver The circulation of that n,ata.s
as token money is wherein If has,
worked a deception. What the TTnitec
sues supreme court would do now i.
more doubtful, as I am inclined to he
1eVe that they are as a whole . c In,,oS
uhoer the Influences of the bondholdar.
as the supreme court of 1860 was unjas
me tne influence of the Shareholders. =
test case would not proba hIv ras,iIt =.
a bred Scott decision. I do NOT ,,eor.
10 express prejudice but in view of A.,
events of the two last Years 7 cann u,19
n9eip relieve that official despotism has
niibiio of sSt m ana that most of our
pupiic 0iuclalS are now unconscio,ISIv
Ihe willing servants of the money,
lending power. If a maiol itv Of tbt.
supreme court art thus infected as
L. iear, IL could not take the broad
REQUIRED. q"ee' lion
q That the silver dollar was the
unit OF value in or coinage svsterr.
ilXed ny the act of 1872 Mr.. Horr adj
onc
cial report. u u oiii-
MEASURES OF VALUES.
3. That silver and gold both var.
sne measures Of value of all other
property until 1873, and the debtor bao
NJ a rlgnt to pay in either metal See
No ii 10d answer to Mr.. Motsinger on
- That the act of 1873 was s,rren-
tLltiousy passed: After reading the de-
pa on this hd subject one will turn back
prise the following language used nv
MI N Horr when Introducing this topic:
4 propose to show you during fhis
discussion that no law has ever been
I pJSetu ny the American congress
whlch was freer from faint which was
more carefully examined, and which
was more completely and fully under
$1,000 eonSid tnan the law of 1873: When one
r ooiHsl9ers that the people We're de-
prlved of their primary money with
out their knowledge or consent in this
republican form of government one
can ceeSer understand the unjust and
, iliiIil1Tai position taken by the mono
metalilsts, who have since stubborniy
refused to allow the people to pass a
Herqlct upon this question What Car
ned, Blaine and others said upon this
s;nJ VIII be found in the congress
slonal records during the discussions to
Wh1ch my other references in debate
VIII direct the reader A letter from
eGX S. General Pierpont, under
r Ere Grant, to Hon. George Mer-
Grant told him that he was deceived
by the act of 1873, is in my possession.
ana l VIII cause it to be printed and
get general circulation
IS. That for all time of which we
nave a. knowledge, gold and silver were
treated equally as money; both had a
right to enter the mints in all cites of
the world until 1916. when England
closed her minis to silver, and in
1854. when the United States, Ger
many, France and the Latin union fol-
lowed. And, until 1854, the CONNER
cal value Of the two metals were SUBJ
stantially at a. parity with the legal
ratio. That this condition made both
metals available for use as primary
money, and the demand for primary
metal was relieved by the volume of
both metals.
IN GOLD ALONE.
sc. That prices of all property are
~ :" Cd LIZ SOlo dlOllt, anu are
substantially at the present time one
half what they would be under the
bimetallic system. Mr.. Horn frequent
ly in debate substantially makes this
admission.
81. That there were s14S, 0OO, 900 in ST.
yer coined at our minis prior to 1873,
all of which coined prior to 1853 was
primary money, and since 1853 the sill
yer dollars were primary money, and
by virtue of the right of silver to be
coined into primary money through
the medium of silver dollars, the whole
volume of the silver supply was behind
our monetary system; was eXerting its
influence as a measure of value, and
stood ready to be coined and to share
equally with gold the demand for
money. That all the silver coined since
Feb. II, 1873, has been token money,
representing gold; is not eXerting an
influence as a measure of values and
is not performing the functions of pri-
mary money.
'.S. 1 believe those who read and care
| fully digest the debate will conclude