Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-07-25

wise be clearly expressed, and yet 4 am
here TO defend orally those same principles.
] expect to make good in this debate the
following propositions.
"First-That gold and silver are the
money of the constitutions; that the siI.er
dollar was the unit of value In our coinage
system in this country from 1892 to 1873,
Just as the yardstick was the measure of
length. That gold was measured In this
silver unit, and concurrent coinage given
to 1t 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
reptitiously passed.
.~sThird-That during the period of 17D2 TO
1915 the minis were open to the unlimited
coinage OF both metals into primary or re-
demption money, and that both were treated
as such. That during that period people
had a right TO have either metal coined into
full legal tender money, and that the option
was with the debtor to pay In coins Of
either metal.
.~Fourth-That this bimetallic system
made an unlimited demand for both metals
20 be coined into money, increased the de-
g.and for these metals, and so long as this
law authorizing any one to coin 371A grains
of silver and 232 grains Of gold Into a dol
lar there was no one willing to sell either
for less than a dollar.
"Eifth-That the option to pay In either
metal caused the cheaper of the two metals
10 be used, and transferred the demand
from the dearer to the cheaper metal and
restored its relative commercial value. We
ore for both gold and silver. We are called
silver men because we are defending the
metal that has been demonetized.
"Sixth-That 1t Is to the interests Of the
United States to act Independently In the
reconciliation of silver at the ratio Of 10
fhA -. Tho AZ ~ anD
other nation.
"'Seventh-That monometal"7m consists In
the use of the dearer of the two metals to
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 1t Is impracticable and
Impossible as a 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, az 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 1872,
when the worlds prices of property were
measured IN the money mass Of 10th
metals. That all prices OF property and
tdDOA hhNt ia hNtOlhilSiS 40 NVih'
pared with 1872, except when held up re.
~latively by increased demand or short sup
ply or combines and trusts or special rea-
sons affecting a particur-r service or prop
erty. That the average price OF all pro-
duction except gold, will show this decline
s. adjusting itself TO the gold standard.
And that when we include in labor the IN.
employed and the time lost by those EN-.
plOyed there Is a fall in wages of one-halt
as compared with 1872. That labor is adj
justing itself - the gold standard measure
ment of values.
"~Nlnth-That the decline In prices cover.
ing a period Of twenty-five years has as a
rule made all classes Of productive mercan'
tile and manufacturing business un'
profitable. That a falling market
covering a 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 fail.
ure or loss OF capital under these condi'
lions.
'.Tenth-That It has worked a hardship
and injury to debtors. who, unconscious OF
The causes that continuously reduced the
prices of their property, have contracted
debts during these twenty-five years. That
this fall in prices caused a sacrifice of prop
erty 10 purchase the dollars with which Il
Siduidate these debts. That this has caused
the renewal Of debts, the contraction Of
new debts to pay old debts, and an en-
Iarged volume of all debts. That this IN
Justly takes from n debtor his property and
emphasizes the Importance Of a stable
money measurement of values.
sEleventh-That in the end, no one II
benefited by a fall in price but the none!
lender, the owner of money and securities
payable In n icy, fixed incomes.
.'Twelfth-4 1t the foregoing facts ant
conditions produced by a change In on
money measurement of values will impov
erish the masses OF the people, and point
by reason of the disturbances that 1t vii
produce, to the overthrow Of the republic.
ITO all unbiased men, and those who vii
Jay aside their prejudices during their read
ing of this debate, / expect to make goot
ali of the foregoing propositions. Ever,
fact in the school that Mr.. Horr does no
attack ! shall take for granted that he ad
mits its truth. l am now ready to pro
coed In the order indicated In Coins FL
nancial School, and as contemplated by tn
rules of the debate"
The debate proper then began, and
for over two hours Mr.. Horn pro
pounded questions and Mr.. Harvey
tansv cred them. The debate was or
the line of the above statements
Each gentleman was frequently ap
plauded.
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