The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-07-24

both of them, without the consent Of the
states. The men who framed this con-
stitution then proceeded to give it the
construction intended. They gave to
both metals equal dignity, equal rights,
except to make the dollar of silver and
1t the unit of value, in which the value
Of gold would be measured, but with con-
current coinage with silver. They gave
both metals free and unlimited coinage.
Both were given full and unlimited use
in the payment of debts, there was no
discrimination made in the use of the two
metals, except that the unit Of value was
to reside in the silver dollar and that
gold coins were to be of the value of so
many silver dollars. This is the exact
language of the statute of the men who
framed the constitution and knew the
construction that it was intended that
1t should have. Daniel Webster said (see
congressional Globe" appendix, pages "a
to 56, Twentyfourth congress, second
session, Dec. Fl, 1886 Gold and silver
is the money of the constitution. CAP
plause) The constitutional standard of
value is established and cannot be over
turned. To overturn it would shake the
whole system. Gold and silver-at rates
liked by cOngreSs-cOnStitute the legal
standard of valhe in this country, and
neither congress nor any state has au-
thority to establish any other stand
ard or dispose of this" Gong and con-
tinued applause.) I now hand Daniel
Webster's speech to Mr. Horr.
Mr. Horrible difficulty with my
friend Harvey arises largely from the
fact that he seems to think that every
thing is trivial which he does not know
anything about. He thinks that the gov
eminent of the United States originated
in 1892. l had supposed this government
commenced on the Fourth day of July,
1776. In 1887 congress Resolved, That
the standard Of the United States of
America for gold and silver-both to-
gether-shall be II parts fine and one part
alloy. That was precisely as they decid-
ed before, that the money of the United
States being by the resolve of congress
on the 9Th of July 1885, dollar Shall
consist of fine silver 1854 grains in each
silver dollar. That is the first estab-
lishment Of what the unit should consist.
Next, that the money Of account corre-
spond with the division of coins agree
ale to above resolve urOceed in a dec
sinai ration agreeable to the forms and
manner following, to-wit: Don't forget
it. They were organizing new system
of money, something that had never been
known on the face of the globe-making
money history Is that rival? Why,
it was the important act of that age.
Why, it was the basis of the entire &C
ton of 1892.
Mr.. Harvey-The straits to which the
colonistS were put between 1776 and 1890,
when we, as a government known as the
those Of expediency, but no permanent
system was adopted, awaiting the con-
stitution of the regular United States
congress, and it is to the action of that
constitution and the congress that met
in pursuance of it that we should. as
educators upon this question, direct our
attention. Alexander Hamilton recon-
mended two units, one to be made from
gold and one to be made from silver
Mr.: Jefferson at one time came very near
yielding to the arguments of Mr.. Hamil-
tOn but the whole matter went into the
American congress at its second session
and out Of the recommendations and dis.
cussions that had been made the result
was the enactment of the law of 1892 and
section of that act is the one that set
ties this question. What Jefferson rec
commended for the unit was adopted and
the statute so reads and the gold coins
are valued in that silver unit, and HAM
ilton's suggestion for two units. a gold
unit and a silver unit, was not accepted
by congress and only a silver unit is pro-
vided for in the act of 1892.
Mr.. Horr-Now, all this talk Of Mr.
Harveys is Of very little Importance so
far as I am concerned. What I say is
that when they passed that law they
intended to establish bimetallism in the
United States. They did fix the silver
dollar as a unit of value; there is no
doubt about it. And they also fixed of
what the gold coinage consisted and there
were a number of units and then they de-
fined the ratio between the two metals,
consequently when they fixed the ratio
Is silver to l Of gold there were two
standards, a gold standard and a silver
standard. We did not use the gold stand
ard up to 1884. You can pass law as to
a standard and the people can annul it
in spite of all the statutes in the world.
The people adopt the currency they wish
to use, and you cannot legislate them out
If it, either. They undervalued gold. The
gold dollar was worth more under the
first mintage than the silver dollar, con-
seuqently we did have, and he is right
about it, the silver standard In this coun-
try up to 1884. Legally a man could pay
any debt by entering the 10 units of value
in the gold coin, but the people did not
tender it because the silver dollar was
the cheapest; they could get 10 silver dol
lars for less labor, less everything than
they could for gold, consequently the gold
left the country.
Mr.. Harvey-I want now to call atten-
ton to the fact that for several years
our side has claimed that silver was fixed
in 1892 as the unit of value, continuing
so to 1873, as strenuously denied by the
other side; denied by the other side to
such an extent that they went to the
trouble in this city of getting an ex-
judge, an associae Of bankers, to render
an ex4parte opinion that silver was not
fixed by the act of 1892 as the unit of
8
over the country, and it was reported
in the newspapers editorially all over the
country. and a professor in a university
that is built with a money lenders capt.
tai, wrote articles published in the Times
Herald, denying that silver was made the
unit of value in 1892, and these articles
were copied in their friendly papers all
over the country. And now we come face
to face with the other side, here they do
not dare to mislead; and in the first joint
debate question in this controversy they
are forced by the truth to admit that
BIN grains Of silver was fixed as the unit
of value cloud applause) by the act of
1892 and remained such to 1873.
Mr.. Horr-Who is admitting that?
Mr.. Harvey-The reading of the debate
thus far will show that Mr.. Horn has adj
n1itted it. Now, why was silver made
the unit of value by that act? This was
to be the government of the people with
it's organic laws, it's financial policy and
it's statute laws intended to promote the
interests of the many, the poorer people.
Silver was the money of the plain people.
How did they favor it? They made it
the unit-the thing in which gold was to
be valued. The silver coins were not to
be recoined or changed. Silver, the peo-
pies money-would be treated as sacred.
The unit would be undisturbed. This was
the intention of those who framed our
republican government and our financial
laws. To call in silver coins to recon
them would be a serious interference
with the business of the people. To re-
coin the gold coins would not to any great
extent. The peoples money was to con-
troll the rich mans money This was as
it should be. This was intended to be the
financial system of our republic, institute
ed to resist the influence of the mon
arches of the old world.
Mr.. Horr-I want to say here the ques>
ton of the unit have not disposed Of
he has taken so much time want to give
a word as to why they recoined the gold