Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-07-25

G. Horn, late of Michigan but now M,
New York. and William Harvey. an.
thor of Coins Financial School, h.
gan at the Illinois club before a large
audie4ce. The debate will last ten
days.
MIR. Horr opens the Debate.
The ex-eohgressmaa was the frst TO
speak. lie SAL:
Copyright secured by Azel r. Hatch
Of ChIcago.J
at is agreed between Mr.. Harvey ana
myself that previous To entering upon the
general discussion each OF Us shall make a
brief statement defining In a general way
the position be proposes 70 occupy In this
debate. The question which We are about
TO discuss is one that Is not only receiving
very great attention among the people Of
the United States, but IL is one that Is also
receiving some attention from the nations
Of the old world. The question involves the
kind OF money that shall be used by the
people Of the United States, and has 70 90
with laws which win affect the great bust.
ness interests Of this nation. The question
OF finance Is a very complicated one, and
there are some features CT il about which
the ablest OF men oi the wOrId -S,e Deea
differing for years.
The foundation OF the discussion croa
which we ara aauGt 10 en- er is 2 small bsok
published by Mr. Harvey, my opponent. and
entitled Coins Financial School The real
aim and object OF that book + 10 convince
the people Of the United States that this
government SL0uli alone enter upon he
free and unlimited coinage OF silver upon
the old ratio Of 10 10 1. The wisdom OF
such "A course / dispute. Mr.. Harvey VIII
| still m-iutaiu the affirmative Of that Issue. I
will state in the outset that from the be.
ginning 10 the end Of the book there i
hardly a proposition made 10 which | give
my assent. / propose to cOurTOsert many
things which are stated as facts. and slal
attempt 20 prove that The entire theory SET
forth by its author, IL adopted by the peo-
pie Of his country, would lead only 10 busi-
ness disaster and financial ruiz. | do NOT
now rumeELeF ever 10 have examined a
! book carefully ia which I found 80 few
| statements tgGt / consider worthy 0. be-
lief. and certainly never saw so many alb
EOlGte error cFgmmcd into so few pages.
II an not here rs an opponent OF b.
meraiilsTu- ! lie ieye ia the Use OF gold AID
silver as money To- IN" fullest eXreat tAar
can be Gone on sound business principles.
My position upon this question has been
too frequently stated withIn the last tive
years 20 be misunderstood by any one. /
believe that both gold aud silver are the
natural money ~ the world: thar in al. the
| larger transactions. GOLD Is better adapted
TO the necessities II the people than silver:
that all the smaller business transactions Of
| the human family Coz many years nave
\ tf'A NhHa Ne Aa"AHN Nv NDAAAANAfA WIKI
! silver. ! also believe that ia all transsC-
tons OF the nations OF the world. between
themselves, the TWO metals should be used
In the settling % balances, but only az rheIr
commercial value. | also believe that In
the business OF our nation the people should
never attempt 10 Use either metal. except
that IL be az equal value. only to cases
whore one metal may be used as token
money ana may be made releeHuable IN
metal At It's coin value.
Il have always entertained the hope hat
the business nGpu Of the world would Vet
come together and agree upon some basis
whereby gold and silver can both Ice use!
as thc money Of Gual settlement amau. the
| people Of the entire world. l am very clear
10 my idea that until some such arrange
ment shalt be made, II wOnid be simply
' suicide for this nation 20 adopt q system
OF the free coinage Of silver upon the old
! ratio, 81 ratio which all the civilized nations
I Of the word have long since discarded. |
do not believe that any one government can
fix the value OF any two metals. ana name
a ratio which Will he adopted 10y the people
of the world, or Of the cauHtry itself. so
that the two metals would be used side by
side. Consequently IL our nation alone
should attempt any such action. II would
simply place our country upon a silver ba-
sis, aud thu attempt would end Ia
silFer MoaometaiIisnu.
IF We are compelled to decide between
| gold recommendation ard silver m0nometa!-
lism, then / am decidedly In favor OF
adopting the standard used by the civilized
nations of the world. / 10 not believe that
| silver has ever been demonetized anywhere
In the world, l believe that the law OF
1873, which Mr.. tIaryey's book denonnces
as a crime, was honestly conceived. open
~ advocated ana passed by the American
congress after fun deliberation, and be-
cause the people AZ that time who held
seats In the American congress believed
. FhmW EmHh n 49, .ra-IW - - l.
not believe In the teachings OF this book.
that this nation Is on the verge Of financial
rain, or that starvation is staring our pec-
pie In the face. l believe il our nation
should adopt the couyse advocated In this
book we would seriously injure the entire
wage-earners OF he United States. / be.
lieye we would destroy the confidence %
the business men Of the world in our In
tegrity as 4 nation, and that we would pre-
| cipitate such a financial panic as our coun.
try has never before seen.
II shall deny most emphatically that the
great majority Of the people Of this couu-
try are in debt, and shall insist that three
fesiEths u the American people are to-day
creditors ana not debtors, and that conse-
quently the system which Mr.. Harvey adj
vocates would work great injury to the
vast majority of American citizens. / will
state further, that If this book. about
which we are going TO debate. Is true. then
I am all wrong. IL seems to me devoid OF
business sense from beginning to end, and
i shall enter upon the work OF attempting
TO prove that, and hope to be able TO dc il,
In language that shall be so plain and ex-
plicit that my fellow citizens will be salts
fed that II have accomplished my task.
Understand me. In a few words:
II believe that the American NATHAN
| should have Just as good money as any ma
ton uses on the face OF the earth. I be-
lisve that every dollar paid to a poor man
for his daily toll should be worth as much
as the dollars paid 10 men who are rich.
I would have the money which mea surrs
values the most stable TIT can be devised
and would insist that buyers and sellers.
lenders and debtors shall. as near as posi-
bic, be required TO use the same measure
OF values and shall insist that Reputation
In all forms Is disgraceful and dishonora-
bic In the case Of nations, corporations or
individuals.
What our people need Is good credit;
good money; good principles and sound
business sense. Visionary schemes and de-
based money never yet made a nation pros
porous. The quality of the money used in
any country Is far more important than the
qu~antity-laws should be drawn TO protect
the men who earn money as well as those