River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1895-05-23
is western region. nj , would a. once and

free coinage OF silver Ind gold In the ratio OF
sixteen ounces OF silykr to one ounce OF gold.
with full legal tender functions accorded 70
each and no discriminate ion against either.
in making this dem}nd we ase asking for
nothing new. The monetary system Of the coun-
try was founded not uIton gold alone, not upon
silver alone, but upon doth silver and gold at
a certain ratio to eachIother. with no llmita-
ton upon the coinage OF either and each
standing upon an EQUAL footing before the law.
We are for America against the world. and
for the interests OF ~ common people above
every other consideration. We believe that
the complete restorttion OF silver will
place in CLOSED commercial touch
with the silver-using n lions of the earth
without in any way Nniuring our relations
with those countries that adhere TO the gold
standard That Il viii enormously increase
our foreign exports arrest the ruinous fall
Of prices. restore values. build up and in
vigorate the country Oh every line Of indus
trial development andl bring back the pros
perity that was lost ~ the vicious and uns
called-for legislation kof 1879 We have no
confidence that any I international agree
ment can be reached within a reasonable
time. and We are unalikrably opposed to let
ting the cause OF silvef restoration wither and
die while waiting for raiief upon that line and
believe the United stab - should take the in
itiative We say thas the United States is
strong enough to settle this question alone
while in an entirels nonpartisan spirit we
urge this work we do bot forget that hereto
fore both the great pafties In this particular
have been recreant 10 their most sacred
trust that nearly an the eastern party
leaders have falleH down In worship
OF the idol made OF gold that they have been
busy In spreading falssfears among the people.
that we're We as al nation alone to try to
right the wrong. nef and worse sorrows
would come to us.i SO warned, while
not advocating asy partisan N, move e.
as.ln betrayed and prepare. If the sue
eeeding few months bfng no promise OF re-
lief. to resort to ths peaceful exercise OF
that right which belongs to liberty loving
loyal men to defend themselves against in
tolerable wrongs There is but one way TO
restore silver. and thst is to restore It. This
great work can never be accomplished by
making high soundingI declarations in favor
silver and Thea electing congress-
men, senators and presidents who will
TT at our wishes with contempt We there
fore urge every man who has tue cause at
cart to use all HONORABLE means to prevent
the nomination for Tip national ONCE of any
man who is unqualinsily not In favor OF free
coinage and fun legal Ander Of both silver and
gold at the ratio of 10 u l."
CHICAGO, May 20.IThe rooms of the
Illinois Club building were packed Fri
day night by members and invited
guests to listen t4 a joint debate be-
tween William H.. Harvey, author of
Coins financial ichool," and J. Lau-
renee Laughlin, professor of political
economy in the University of Chicago,
on the following qsestion:
'kesolved, That the. United States should at
once enter upon the free coinage of silver at
the ratio OF 10 to /. Independently of the action
OF any other nation"
Mr. Harvey maintained the affirma-
tive of the proposition. while Prof.
Laughlin took the negative.
The president, d.. Thomas, in intro
ducing Col. Harvet, said:
Their is probably no question at the pres
ent day In which there is such widespread in
terest, such general study and thought as
that OF the financials problem Among the
many conflicting vews and statements
which are presented for our consideration
there appears to the tuninitiated an almost
hopeless mass OF statement OF facts and OF
theories. In this dilemma the Illinois club is
pleased to welcome 70 its rooms two distin-
guished students OF france, Prof Laughlin, OF
the Chicago university, and William II. Har-
yey, well known as xFiter
Mr.. Harvey was RECEIVED with a round OF
pplause, and at once began an address which
followed the line OF largument used In his
1ok. Coin" He he'll that silver and gold
I id Jointly been theSprimary money OF the
country from 1872 to 1873, when silver was
S ricken down The Crime of 1873" he said
" lad been the cause OF our subsequent hnan-
c al and Industrial Oppression, resulting in
he lowering OF prices and decrease of wages .
lie charged that all ihis had been brought
about by a syndicate o. European bankers and
concluded by attempting to show that silver
could be restored to its intrinsic value b. fed
eral legislation
7 frct ~ an.
plause by declaring that silver had lost its
stability of value. SiSer he said, was worth
more than ant other base metal
and there was Ia way OF getting
rich by short cutsI or radical legisla-
tion. There was nd more virtue In the
argument that therS was not a sufficient
amount of money per capita than there would
be in arguing that these was a stringency OF
hearses, because there was not hearse for
every man, woman and child. The professor
called attention to theI charts upon the wall
and that portion Of his address constituted a
most interesting sc -ie5 of object lessons
Free coinage Of silSr, Prof Laughlin en-
phaticall declared. would drive all gold out OF
the country. He pr6ceeded TO show that
while such step would cause a rise oil
price OF commodities II would not increase
wages, for the reaton that wages are
always the last to rise and first to fall A
rise in prices would, therefore. result in a
diminution of the comforts of the laooring
, classes. No invading army, he declared, could
cause the desolation snd ruin which would
be accomplished by the free coinage OF
silver and consequent disarrangement OF
the whole financial, commercial and Industrial
system. The speaker said that free coinage
of silver, which would enable men to pay their
just Indebtedness at 90 cents on the dollar
would be cheating IL would be iegalized
fraud.
In his FIRST rejoindes the champion of free
silver coinage declared that any attempt "a
discredit the lawful mpney of the country was
statutory treason.
Prof Laughlin says the measure OF value
should not be tempered with SAID Mr. Har-
vey. Il agree with him But in 1873 the meas
ure Of values was tempered with and the
American people arettrying to restore that
measure of value"
Mr.. Harvey caused another prolonged out
burst OF applause bv declaring that Prof.
Laughlins argument against double standard
was like arguing that a man could
cross q river by one bridge. but could not cross
over it II there we're 1.-Two bridges hearSes,
the speaker said. were fproper subjects OF IL
luStration by Prof. Lsughlin, for hearses re-
minded one Of the present condition of this
country.
Prof Laughlin was given fifteen minutes in
which to reply He challenged contradic-
tion of his assertion that gold and sill
yer had never been maintained at fixed
parity; In reply to IT, Haryeys ASS assertion ndon
tempered with, Pre-. Laughlin declared
that. at that date. here was neither gold
nor silver in circulation and Consequent
ly there was no standard to tamper with The
professor closed with she assertion that the
rapid and unceasing iusentIon and production
OF labor-saving machiSry had done more than
anything else TO reduce the price OF commodi-
ties.
Mr.. Harvey was given five minutes in which
to close the discussion This country, he said,
had but one financial. bridge. Cleveland had
hold of one end and tbs Rothschilds the other.
The people had either to wade or swim the
river.
WASHINGTON, Nay 2i.-Secretary
Morton has written an answer on the
silver question in, reply to James A.
Cherry, of Denver, Eol., with whom he
has been having agood deal of argu-
ment. The secretary reiterates the
statement that the only demonetiza-
ton of the ''silser dollar of the
fathers" was in Sle law of 1888, and
charges Mr. Cherry with failing to
answer questions, which he again asks.
CovISeToN, KY, Nay 22.-At Central
garden last evening Secretary of the
Treasury Carlisle spoke on the silver
question. In substa nee he said:
The question whether we shall maintain at
an equal purchasing pSwer In the markets all
the dollars in use OF provide by law for the
free and unlimited coinage OF silver dollars
each containing 4l2I. gains OF standard SILVER
is by far the most impcstant one tnat mas oeeh
presented to the AmerR an people IN this gem
esltion. and It non confronts us. The
substitution OF a new unit OF measure OF value
is not an ordinary experiment that can pe saie-