St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-17

which all the civilized nations of
the world have long since discarded.
do not believe that any one gov
ernment can fix the value of any
two metals, and name a ratio which
will be accepted by the people of the
world, or of the country itself, so
that the two metals would be used
side by side. Consequently. if our
nation alone should attempt any
such action, it would simply place
our country upon a silver basis, and
the attempt would end in silver mon
ometallism- If we are compelled to
decide between gold monometalism
and silver monometaIism, then I
am decidedly in favor Of adopting
the standard used by the civilized
nations of the world. I do not be-
Heve that silver has ever been de-
monetiZed anywhere in the world. 7
believe that the law of 1873. which
Mr.. Harvey's book denounces as a
crime, was honestly conceived.
openly advocated, and passed by
the American congress after full de-
liberation and because the people at
that time who held seats in the
American congress believed that
such law ought to be enacted.
PURE PALACES.
co not believe in the teachings of
this book, that this nation is on the
verge of fnancitI ruin. or that starva-
ton is staring our people in the face.
peileVe II our nation should adopt the
course advocated in this book. we
would seriously injure the entire wage
earners Of the United States. l believe
we would destroy the confidence of the
business men Of the world in our integ-
r1ty as a nation, and that we would
precipitate such financial panic as
our country has never before seen.
l shall deny most emphaticaIIy that
the great majority Of the people of this
country are in debt, and shall insist
that three-fourths of the American n
people are today creditors and not
debtors, and that consequently the
system which Mr.. Harvey advocates
would work great injury to the vast
majority Of American citizens. l Will
state further that if this book. about
which we are going to debate. is true
then l am all wrong. 1t seems tc
me devoid of business sense from be-
ginning to end, and l shall enter upon
the work of attempting to prove that
and hope 20 be able TO do it in language
that shall be so plain and explicit that
my fellow citizens will be satisfied that
have accomplished my task Under
stand me, in a few words: 1 believe
that the American nation should have
just as good money as any nation
uses on the face of the earth: l be-
live that every dollar paid to a poor
man for his daily toll should be worth
as much as the dollars paid TO men
who are rich. I would have the money
which measures values the most stable
that can be devised. and would insist
that buyers and sellers. lenders and
debtors shall as near as possible be re-
Quired to use the same measure OF
values and shall insist that repudia-
ton in all forms is disgracefuI and dis
honorable in the case OF nations. cor
porauous or individuals. What ou1
people need -E good credit. good money
good principles, and sound business
sense. Visionary schemes and debased
money never yet made a nation pros
porous. The quality of the money used
in any country is far more important
than the quantity-laws should be
drawn 10 protect the men who earn
money as well as as those who owe
money. a man who works faithfully
and lives on his daily earnings should
never be sacrificed for the benefit OF
men who live on what they borrow.
But all these things will be more fully
explained as the contest progresses
HARVEY'S INTRODUCTION.
Mr.. Harvey's statement followed. He
said:
7 am here to defend the facts and
principles in Coins Financial School
1 am aware that the illustrations in
that book are a great aid in presenting
clearly its views. We find this TIE IN