The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1895-07-25

i a sense from beginning to end, aud
buslnU entcr upon the work Of attempting
J sue that. and hope to be able to do 1t.
10 language that shall be 80 plain and eX-
u, that my fellow citizens VIII be salts
pS that | have accomplished my task
TI.Icrstand me, in "A few words:
Vn h,Iiavp that the American nation
,,,,iJ nave lust as good money as any ma
snOu ,sns on the face OF the earth. | be-
uoTa that every dollar paic TO poor man
~ his daily toll should be worth as Euch
W. .ra dollars paid to men who are rich
es',,,d have the money which measures
las the most stable that can be devised,
va would insist that buyers and sellers,
,andors and debtors shall, as near as posi-
Ia he required TO use the same measure
', values and shall insist that reputation
~ oil forms is disgraceful and dishonOra-
HE in the case Of nations, corporations or
Individuals , =, o, or,dt,
uood money: good principles and sound
s~sInass sense. Visionary schemes and de-
hosad money never yet made nation pros
Oarous The quality OF the money used in
snv country Is far more important than the
.uantIty-laws should be drawn to protect
the men who earn money as well as those
wh, owe money. A man who works faith
fnI,v and lives on his daily earnings should
naver be sacrificed for the benefit OF men
ubn live on what they borrow. But all
these things will be more fully explained
as the contest progresses
"Coin's" statement.
The opening statement made by Mr.. Har-
yey follows:
~ am here to defend the facts and prin-
snles Of Coins Financial School l am
sware that the illustrations in that book
are great aid in presenting clearly its
views We find this true in our schools
Many scientific works rely on Illustrations
and our newspapers Ind that illustrations
make plain many Ideas that could not other
wise be clearly expressed, and yet am
here 10 defend orally those same principles
expect to make good In this debate the
following propositions:
"Flrst-'rhat gold and silver are the
money Of the constitutions; that the silver
dollar was the unit of value in our coinage
system in this country from 1892 10 1873
lust as the yardstick was the measure Of
length That gold was measured In this
silver unit and concurrent coinage given
10 II gold; that silver and gold combined
constituted the legal standard of value in
this country till 1873; silver measured gold;
the two together measured all other proper
ty
'Second-That the act Of 1873 was sur.
repttiouSly passed.
"Third-That during the period OF 1892 10
1873 the minis were open TO the unlimited
coinage of both metals into primary or re-
dempton money. and that both were treated
as such. That during that period people
had a right 10 have either metal coined into
full legal tender money, and that the option
was with the debtor TO pay In coins Of
either metal.
"FourCh-That this bimetallIc system
made an unlimited demand for both metals
TO be c&ined into money, Increased the de-
mand for these metals and SO long this
law authorizing any one to coin 37ll4 grains
of silver and Do grains Of gold into dol
lar there was no one willing TO sell either
for less than a dollar.
"Fifth-That the option TO pay in either
metal caused the cheaper Of the two metals
10 be used, and transferred the demand
from TIE dcarer TO the cheaper metal and
restored It's relative commercial value. We
are for both gold and silver. We are called
silver men because we are defending the
meta! thar has been demonetiZed.
SiXth-That ii is to the interests Of the
United States to act independently in the
reconciliation Of silver at the ratio OF 10
TO !. without waiting for the action OF any
other nation.
"Seventh-That mOnometallsm consists In
the Use Of the deaTer of the two metals 10
the exclusion of the other as primary or
redemption money; that recommendation Is
an experiment on trial for the first time
In the history OF the world, and began with
the period 1873; that ii Is impracticable and
impossible as stable money measurement
of values; is not based on scientific financial
principles; is in the interest Of the money
lenders, and against the interest of the
property owners and labOrers.
Prices of Property.
"Eighth-That the gold unit, as the meas
ure OF values, with no concurrent coinage.
or another metal to asst IL in performing
the functions of primary money, has caused
the fall in prices as compared with 1877,
u NE,A ~.
measured In the money mass OF both
metals. That all prices OF property and
labor have declined accordingly as COM
pared with 1872, except when held up re-
iattveIy by increased demand or short sup
ply or combines and trusts or special rea.
sons affecting a particular service or prop
erty. That the average price OF all pro-
ductlun except gold. will show this decline
Is adjusting itself to the gold standard.
And that when we include In labor the un-
employed and the time lost by those en-
piOyed there Is a fall In wages OF one-half
as compared with 1872. That labor Is adj
1usting itself TO the gold standard measure
ment Of values.
"Ninth-That the decline In prices cover
Ing period Of twenty-five years has as
rule made all classes OF productive mercan-
tile and manufacturing business I'M
Profitable. That falling market
covering long period destroys the
Prospective profits based on cost OF pur-
chase and production and a majority OF our
most astute business men cannot avoid fall
ure or loss Of capital under these condi-
tons
"T 1th-That 1t has worked a hardship
ana injury to debtors, who. unconscious OF
ma causes that continuously reduced the
p,ces Of their property, have contracted
debts during these twenty-five years. That
this fall in prices caused a sacrifice OF prop
erty to purchase the dollar with which to
hqnidate these debts. That this has caused
the renewal OF debts. tb- contraction OF
aew debts to pay olu deuts, and an en-
iarsed volume OF all debts. That this un.
Justly takes from n deDtor his property and
emphasizes the importance OF stable
money measurement OF values.
"Eleypnth-That In the end, no one Is