St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-30
CHEAP MONEY AND RUIN.

CHEAH MONEY AND KUHN.
Mr.. Horr reiterated the statement
that size had nothing to do with value
A diamond worth 81, GOO, 900 could be put
into quaiPs egg. Mr.. Horn then con-
tinued his enumeration of the classes
of people who, he declared, would be
ruined by cheapening the measure of
value. They included day laborers,
clerks, stenographers, railway en-
ployes, domestic servants, janitors and
scrub women, skilled labor of all sorts,
agricultural laborers, miners and the
like, in the aggregate %, 735, ,661 in num-
5er.- In addition to these he spoke of
the pensioners of the government, MAX
ing a touching reference in doing so to
the empty sleeves of the veterans and
the black-robed widows, in number one
million. 1t was. proposed to cut down
the pension rolls by destroying the
value of money in which they would be
paid. If this law We're passed their
pensions must be doubled or the nation
disgraced. In addition to these, 4,7S1,-
695 people had their little savings in
savings banks, whom it was proposed
to defraud of one-half of their little ac-
cumulationS.
Referring to the advance In the
wages of domestic servants Mr.. Har-
vey said that since the demonetization
women had been forced to work for
their living because their fathers and
brothers were out of work. This had
reduced the number of women availa-
BILE for domestic service, and wages for
such service had remained stiff or ad-
vanced. Mr.. Harvey said that, under
free coinage, gold would decline, while
silver and everything would advance
1t was claimed that if silver We're
granted free coinage our securities
would be thrown over. The rule was
that securities were not thrown over
on advancing prices. Gold was the ar
ticle to be got rid of, for it alone would
decline, he declared. Mr.. Harvey as
serted that the demands of businecS in
this country would absorb all of the
silver available for coinage. If all the
gold and silver in the world were sent
to our mints for coinage, it would be
to the benefit Of the United States and
the injury of the rest of the world.
Money in circulation made business,
just as life does not make blood, but
blood makes life.
HEN FRUIT AND PEANUTS.
after a little badinage, said that the
savings bank depositors had 81, ,712, ,000,-
600 on deposit, which it was proposed
to cut in two. Building and loan asso-
Citations had 1,725,OOO depositors, with
an aggregate of $525, $50, 600 due them.
In addition to these were the trust
companies and state banks and life
insurance companies, all Of which were
to be allowed to pay in deprecated
money. And the money in the pockets
of every man and woman in the Unit
ed States was to be halved in value
All of this for the benefit of 10000 sill
yer men! Why, their output was not
worth half as much as the eggs yearly
laid by the hens of the United States
and was about equal in value to the
peanut crop. But the worst feature.
he asserted, would be the destruction
Of ali credit. It would bring about the
worst panic the nation ever saw. The
paralysis of business would be COM
plete, for 9S per cent of the business
of the world was done on credit
Mr.. Harvey said that thousands of
men had been financially wrecked by
their inability to keep up their life in
surance payments. He declared that
there was but one worse crime than
that of 1873, and that was of the man
who claimed that the defenders of sill
ver meant Reputation. He thanked
Mr.. Horr for the illustration as to the
small amount of silver in the United
States. That was the claim of the
silver men. There was no danger but
that the demands of business would
absorb it. This nation could take all
of the silver which the nations of the
world bring to us in exchange for
products in single year; we could re-
produce those products and ask them
to come again. We could thus absorb
all Of the silver in the world, if neces-
sary. The history of nations showed
that the more primary money it had,
the more prosperous it was. AS long
as the United States could make an
unlimited demand for silver at a fixed
ratio, the holders of silver would not
part with it for any less It would
give us the trade of the silver-using
nations of the world, and the control
Of commerce would be transferred
from London to New York. It would
increase our trade With the gold-stand-
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