Courier Democrat. (Langdon, N.D.) 1891-1920, 1895-07-25

qmnrlry-nws should 10 drawn to protect
tho men who ea:n money as well as those
who owo money. \ man who works faith.
fully and livea on his daily earnings should
mover bs sacrificed Tor the benefit Of men
who Ny6uon what they borrow. But all
these tSlgs will DO more fully explained
Oh tho A-ltest prosrossesH;,,
'Coin's" 6t:S ant.
-. Tho ,o' Opening 'tat'n'elF s y Mr.. Har-
'e Il 1 en here to defend 10 sasts and pr,n-
slplcs Of Coins Financial School, am
aware that the Illustrations In that book
arc o great aid In presenting clearly Its
Views. We ind e. % true In our schools.
Many scientific wdsSN sely on Illustrations.
and our newspaper Md that Illustrations
mako plain many ideas that could net other
wise be clearly expressed, and yet l am
here to defend orally those same principles.
I expect to make good In this debate the
following propositions:
"First-That gold and silver are the
money of the constitution; that tho silver
dollar was the unit Of value In QUIZ coinage
system in this country from 1702kto 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 oil other proper
ty.
"second-That the act Of 1873 was sur
reptitlously passed.
''Third-That during the period Of 17O2 to
1873 the mints were open to the unlimited
coinage of both metals into primary OF re-
demption money, and that both were treated
az such. That during that period people
had 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 bimetalllc system
made IN unlimited demand for both metals
to be coined into money, increased the de-
mand for these metals. and so long as this
law authorizing any one to coin 371A grains
OF silver and 23.o grains OF gold into dol
lar there was no one willing to- sell either
for less than dollar.
"Fifth-That the option to pay In either
metal caused the cheaper Of the two metals
to be used. and transferred the demand
from the dearer to the. cheaper metal and
restored Its relative commercial value. We
IRE for both gold and silver. We are called
silver men because we are defending the
metal that has been demonetized.
"Sixth-That it Is to the interests Of the
United States to act Independently In the
reconciliation of silver at the ratio of 16
to l, without waiting for the action Of any
other nation.
"Seventh-That monometallism consists in
the use of the dearer of the two metals to
the exclusion of the other as primary or
redemption money; that monometallism 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 q 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 1t in performing
the functions Of primary money. has caused
the fall In prices, as compared with 1872,
when the worlds prices Of property were
metals. That all prices Of property and
labor have declined accordingly as COM
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 particular service or prop
erty. That the average price Of all pro-
duction except gold, will show this decline
Is adjusting itself to the gold standard.
And that when we include in labor the I'M
employed and the time lost by those en-
ployed there is fall in wages of one-half
as compared with 1879. That labor is adj
1uSCln8 lCSelI TO Tue SOlu SlduuAiu meASure-
ment of values.
sNtn.h-That the decline in prices cover
ing period of twenty-five years has as a
rule made >all classes of productive mercan-
tile and manufacturing business I'M
profitable. That 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
urc or loss of capital under these condi-
tons.
soTenth-That 1t has worked a hardship
and injury to debtors. who, unconscious Of
the causes that continuously reduced the
prices of their property. have contra cted
debts during these twenty-five years. That
this fall in prices caused q sacrifice of prop
erty to purchase the dollars with which to
liuuidate these debts. That this has caused
the renewal of debts, the contraction OF
new debts to pay old debts. and an en-
lnrged volume Of all debts. That this un-
Justly takes from debtor his property and
emphasizes the Importance Of stable
money measurement Of values.
ssEleyenth-That in the end, no one Is
benefited by fall in price but the money
lender, the owner of money and securities
payable In money, fixed incomes.
s.Twefth-That the foregoing facts and
conditions produced by change In our
money measurement of values will impov-
erish the masses Of the people, and points
by reason Of the disturbances that It will
produce, to the overthrow of the republic.
s.To all unbiased men. and those who Will
lay aside their prejudices during their read cad
ali Of the foregoing propositions. Every
fact in the school that Mr.. Horr does not
attack shall take for granted that he adj
mits its truth. am now ready to pro-
coed In the order Indicated in Coins FL
nancial School, and as contemplated by the
rules Of the debate"
Second Day.
Mr. Horr: "The matter we were talking
about when we closed las. night was the
question whether the trainers Of the bin
Of 1892 intended to establish two measures
of value Mr.. Harvey criticised Judge Vim
cent for having decided that case In his re-
marks yesterday, but very tamely In COM
parIson with the statements which he made
about him in print soon after he made the
decision He even called him dishonest in
that criticism. Now, Judge Vincent is a
reputable citizen, I tax, 1t, of Chicago.
Some private individuals submitted ques-
ton to him and he decided it as he honestly
believed was right and there Is this pec.-