The times. (Owosso, Mich.) 1882-1897, 1895-08-09
EDMUND o. DEWEY, EDITOR.
The Financial Question.

lkiC AAotA AAoAfO1 QNOdtO, tnC mann AOosoASA
of which are here given:
''The object of this debate was to deter
mine If 1t would be wise for our nation TO
throw open its minis to the free coinage oil
silver at the ratio of 16 to / when the civil
lied nations of the world refuse to join In
such action. denied the ACCESSIBILITY OF
such action and attacked the teachings OF
Coins Financial School, from the title
page to its close. Mr.. Harvey admits that
the book is pure fiction. His statement that
primary money only is the measure OF value
he has not even attempted to sustain, though
his proof has been called for repeatedly.
He has based his whole argument ON the
proposition that the silver dollar was in 1892
made the only unit or measure of value.
have shown copclusively that our forefath-
ers attempted to establish bimetalism and
provided for two units of value, on of gold
and one OF silver always naming gold first,
and that up to 1884 the silver standard
alone was used. Thereafter the gold stand
ard came into use, and that since that the
silver dollar has never for day been
used as the measure of value in the United
States.
''Mr. Harvey next based his case upon
the assumption that the law of 1878 was a
crime, and stated that it had its origin in
fraud and its birth through bribery and cor
ruption. He planted himself upon four
propositions to prove his case. He intro
duced no evidence in support of either
proposition, and he stands convicted Of
making every one of those charges without
any proof that would be received in any Or
binary court of justice. Thus he stands
convicted by his own statements Of an effort
to deceive the people. l submit that such
conflicting allegations as he made demon
strate beyond question that Mr.. Harvey
has attempted 10 sustain his position in
regard to the law of 1878 by pure fiction
and without calling to his aid single estab-
lished fact. 1t is conclusive that if he had
proved any one Of them he never would
have introduced the other three. Mr.. Har-
vey's statement that free coinage creates
unlimited Demand is not true, because
there can be an unlimited demand for no
human productions. His assertion that the
option of the debtor to pay in either metal
causes the cheaper metal to be used, is true.
But such option does not restore its relative
commercial value.
HISTORY PROVES IT.
.'Mr. Harvey fails entirely to prove that
the use of one metal as the measure of value
is an experiment. History proves that the
use of a single standard is the only means
by which both metals can be kept in circu-
latiOn. Mr.. Harvey utterly failed to show
q fall in the price of single article which
Is not fully accounted for by the cheaper
cost of production, improved transportation
or increased supply. He bases his conten-
ton on the assumption that gold has apreci-
ated. AS gold measures the value of COM
m0dities, wages and land, so wages, lands
and commodities measure the value of gold.
Commodities have fallen per cent; wages
have increased So per cent and lands have
increased 30 per cent in value since 1860,
while Mr.. Harvey contends we were on a
bimetallic basis. These facts utterly ami
hilate the claim that gold has appreciated.
Correctly analyZed the financial condi-
tlon OF this country has improved immensely
during the last twenty-five years. The con-
diti0n of the masses of the people i'm the
United States has improved more rapidly
since 1878 than during any similar number
of years since the nation was born. Indeed
the improvement has been far greater than
that of any other nation on the earth during
an equal number of years at any period in
the worlds history, as Mulhall has conclu-
siyely shown.
MIsLEADs THE PEOPLE.
"Mr. Harvey, in this debate as in Coins
Financial School, misleads people by partial
statements which lead to false conclusions,
when the whole statement would have been
perfectly clear to anyone.
"Mr. Harvey endeavors to prove decreas-
ing wages in the United States since 1878.
He introduced only one statement in sup
port of his position; that was the evidence
of single man for one trade in the city of
Omaha. On the other hand, to prove that
ft,ox nd Asv.cr II sv,kr h.
tigatiOn of the United States Commissioner
average annual wages in manufacturing in
dustries have risen from S2SS in 1870 to
1860 for each person in 1890. Unable to
produce any table of wages that shows fall
since 1870, Mr.. Harvey In the latter part of
his debate tries to show the falsity of my
position, that in fixing the original measure
of value human toll was largely taken into
Did he succeed? No.
"Mr. Harvey repeatedly tried in his book
and during this debate to create wrong
impression by quoting part of statute
and then leaving off that portion which
would show that his first statement was
utterly untrue. The records of this debate
convict him of such methods. Mr.. Harvey
has felt called upon to vilify all the better
elements OF society, and has attempted to
prove that bribery, corruption and fraud
have become habitual in this nation. He
has hardly been able to find a decent man
except himself) within the entire United
States. l submit that cause which relies
Tor its strength upon the wholesale vilifca-
Hon of our best citizens, must be hopelessly
weak and entirely base.
TRIPLED THE AMOUNT.
"Mr. Harvey gave the foreign indebted |
ness OF this country as more than three |
lines the real amount. He has utterly |
Jailed to account for the arrival of this vast |
Ium; which is a confession that his state |
nent is groundless and only used to misrep.
resent the condition of his country. Mr.. |
Harvey virtually admits that the action |
which he proposes will put this nation on
silver basis and drive gold out of this coun-
ny. His statement that the gold dollar
Ihould be cut down until Its value be no
more than the commercial value of the silver
n the standard dollar, Is complete admis-
Ion of this point. Therefore have right
o assume that his plan contemplates such a
esult. / showed conclusively that this
would work injury to $1,000, 900 people who
york for wages.
'Mr. Harvey said nothing to Offset my
proposition that such action would destroy
he credit of our people and lead to business
isaster In every community in the United
'tates. Go where you will, merchants,
ankers, managers of great enterprises, sue