The San Francisco call., 1895-05-18
White Metal Must Be Given
an Equal Chance
With Gold.
THIS NATION IS INDEPENDENT
Ringing Arguments That the Politi-
cal Professor Strives to
Combat.

POAitICdA CuCOuhCCl tOOh PldCC
hardly paralleled in the West since the
famous struggle between Lincoln and
Douglass, just on the eve Of the civil war.
To-night's platform combatants were two
giants of the opposing sides in the raging
financial controversy-L. Lawrence Laugh
lin. professor of political economy in the
University of Chicago, the favorite author
ity of President Cleveland, and William H.
Harvey. author of "Coin's Financial
School,"
Not half the people clamoring to be
present could have been accommodated
had the auditorium itself been secured for
the meeting of the champions. The spa
cious rooms of the Illinois Club, on stately
Ashland boulevard, were crowded to al
most suffocation when the president of
the club, DR.. Homer M. Thomas, an
nounced all in readiness for the dress-suit
gladiators.
Were it not for the fashionable sur
roundings, the seriousness of the occasion
and the dignity of the audience, the ma
iority of whom were prominent business
and professional men, the eager interest
displayed would have been an instant re-
minder of the moment when Corbett and
Mitchell faced each other for their cele-
brated bout at Jacksonville. The PROPOSE
ton to be discussed was read as follows:
Resolved, That the United States should
at once enter upon the free coinage of sill
yer at the ratio of 16 to l. Independently of
the action of any other nation.
Mr.. Harvey, it was stated, would speak
for an hour in the affirmative and Pro-
fessor Laughlin an hour and thirty minutes
in the negative, Mr.. Harvey then having
thirty minutes for a rejoinder.
Mr.. Harvey is rather TALL spare. dark
complexioned man of engaging presence,
but nervous temperament. He was evil
IDENTIFY full of suppressed excitement when
he came forward to begin his address, but
he soon steadied himself admirably.
Professor Laughlin, wiry of frame and
blonde but stern in appearance, suggestive
of a less emotional makeup, had the adj
vantage of not being the first to speak.
Both men were literally applauded.
In opening for the affirmative Mr.. Har-
vey said:
The first reason why I am in favor of inde-
pendent action by this country is that we
should not be subjected to the influences OF
the Governments of Europe. When our fore
fathers declared their political independence
from Europe it was to free themselves from the
class lesiglation of those Governments, justly
termed plutocracies.
If people can be reduced to poverty and the
prosperity of the United States can be ruined
by hanging to the financial policy of Europe,
then we can be reduced to the same condition
by financial legislation as a war of conquest
would reduce US. Our friends the monometal-
lists mostly say, "We admit bimetallism would
be good if we could get international BIZ
metallism."
In other words, they agree that there is
something radically wrong, but claim that we
are tied TO the financial policy of Europe. So
that If war of conquest in this country by the
monarchies OF Europe, whose form of govern
ment is different from ours, would reduce us
to the condition that the people of those Gov
ernments are in, and they can accomplish the
same purpose by financial legislation, then
there is necessity for independent action,
When there is necessity there is a remedy.
The Governments of Europe are plutocracies
They squeeze the lemon of the people as often
as they please. The few control class legisla.
ton and the masses are hewers of wood and
drawers of water for the titled few. Like the
farmer who goes out and robs the bees nests,
they rob the people and then give them time
to fill the nests again before going out to rob
them again. We have certainly not forgotten
the history giving the reasons why our fore
fathers established this Government, and that
was the reason.
Now, if financial legislation is one of the
kinds of class legislation by which the many
are robbed and the few are enriched by which
the lemon is squeezed, then it is one of the in
stitutions of the European Governments that
we, as a Nation of people Republican in form,
should declare our independence of. That is
the first reason why independent financial ac-
ton should be taken by the United States
If they say, s'We must have the same money
that they have in order to carry on business
with them," my reply is, "That the biggest
business we ever did carry on with the balance
of the world, and particularly Europe, was the
time when they had gold and silver as money
and we had neither
1t Is one OF those peculiar arguments that
wears its way into mans brain when reiter-
ated and monotonously given out by the daily
press that we must have the same money that
the other great commercial nations have
We never stop to Investigate. This Nation
can have an independent financial system
without any reference whatever to the balance
of the world, and can carry on its own com
merce by ocean and land with the other Gov
ernments of the world notwithstanding. We
do not now settle our balances with Europe in
coin on its commercial value and by weight
Our coinage has nothing to do with it.
Primarily, balances of trade are settled with
trade. We give them our wheat and we take
their silks, and the balance that we owe them
or what they may owe US will be settled just as
the merchant between the importing points
may agree to settle. They can settle it in gold
for SO much pennyweight as measured in the
money of their country or our country or in
so much silver or in SO much copper or so
much of any other merchandise which may be
agreed upon between them and their relations.
There is no such thing as an international
money.
What we are contending for is the opening
of the mints to the free coinage of silver, they
are now open to the free and unlimited coinage
of gold, and have never been closed to that
metal, and the establishment of bimetallism
on those simpler fixed principles that were
adopted by those statesmen who had in view
the interest of no class, but all the people.
What we want is bimetallism, and scientific BIZ
metallism is this: Free and unlimited coinage
of both gold and silver, these two metals to
constitute the primary or redemption money
of the Government.
Second The silver dollar of 371L grains of
pure silver to be the unit of value, and gold to
be coined into money at a ratio to be changed,
if necessary, from time to time, if the CONNER
cial parity to the legal ratio shall be affected