Rock Island Argus., 1895-07-22

Gold-S,lver Ratios.
Copyright 1891, b. Azel F. Hatch.l
NJ. Harvey had the floor at the begin.
ming OF the fourth days silver debate and
ho proceeded to sum up his view of what
the debate had SO far sho wn as follows:
The debate so far Is of value in this: II
shows first that gold and silver is the
money Of the constitution; (2) that the
silver dollar Of 37lI grains of pure silver
was the unit OF value in our monetary
system and regulated the other coins in
our coinage sy stem from 1879 to 1873; 81
that silver and gold in concurrent coin
| age was until 1873 the standard and meas
ure OF values OF all other property, and
the basic principle Of our monetary sys.
tenn; 90 that prior to 1873, when one
metal increased in exchange value over
the other, the debtor had the right to pay
In the cheaper metal; (5i that silver was
not demonetiZed by the act of 1873 on 40.
o,unt of the owe r-production of silver;
90 that Sl43, ,0O, 90 OF silver were coined
by our mints prior TO 1878 -
Harvey then elte-el q denial that b,
had charged general lack of integrity on
the American people, or that every man
has his price. He simply did not intend
that those corrupt in CfYicial life should
the integrity of the American;people "He
then proceeded with al cZplanation of Pot.
tcrs position on the dcmonetiz ltion bill
in the house. Potter had expressed sus.
picion OF tho bill because he thought it
WINS to assist q spec u alton in nickel, the
bill providing for coinage of 3.cent pieces
largely OF nickel. Brooks was also suspi-
cious OF the bill On May ~ the bill came
up Ill tho house in the form OF substi.
tute, and Hooper moved suspension of
the rules and the passage of the bill.
Brooks wanted delay until Potter was
present, but Hooper declined to wait, nor
did he want the till read. The motion
was lost Harvey read The Record to tn.
above effect
Horr tock up the argument next. Ho
said: II have shown you that this bill
had its incipicncy among the experts on
coinage in the United States quote
here from w. A. Shaw's History OF Cur
rency, page 27o. The first widely en-
bracing international conference proper.
however, was tho outcome of an expres-
sion OF opinion in the conclave of the
Latin Union. 1t was called at the invita-
tion OF France and met at Paris on the
18th of June, 1877. The states represented
wcre'-now Iisten-'Austria, Baden, Ba-
den, Bavaria, Belgium, Denmark, Spain,
the United States, Franco. Great Britain,
Greece, Italy, the Netherlands, Portugal,
Prussia. Russia, Sweden and Norway,
Switzerland, Turkey and Wurtemburg.
All the states except Holland declared in
favor of the gold Standard
Now, that is the record Of that confer
enco showing that the subject was being
agi;escd by the civilized nations Of tho
world. 1t was after that action that our
experts commenced to examine the uues-
ton ard see what legislation should DO
enacted. stated that they honestly en-.
gagged in that work. Has he proven a
syllable to tho contrary of thatf The bill
oil 1873 simply carried out a resolution Of
all these civilized nations of the world. I
showed you how openly, how completely,
that bill wns drawn in all fairness and sub.
m:tted in every detail to the American
people. The silver men have attempted
from the start to smirch that bill by
claiming that those men were false to
their duties
The first yarn that they told and pub
ushcd in thousand papers broadcast all
over the United States was that a man
by the name of Ernest Seyd visited the
United States und brought with him
s1OIOoO In gold and that he paid that
gold 70 secure tho passage of that bill
Only little while ago somebody hap
penca to think that maybe Ernest Seyd
had written something On the question.
1t occurred to some ono to write to Mr..
Hoepc-'s widow and children and seq IL
there wasn't something that could ..e
found on that subject. They found a
letter from Ernest Seyd in reply to Mr..
Hooper, vino had sent him this identical
1ii, Gnd asked his opinion on 1t. In the
course Of Mr.. Seyi's letter he said:
As this is a now bill and presumably
rcpcals all previous enactments l suppose
that the toss! adjustment of the silver
dolla: is contemplated. / think that the
United states with her gold and silver
mines IS In TN cninently favorable posi-
tion 70 uphold the use Of both gold and
silver ana that the double valuation as
ii existed before would be of great benefit
tc the country. am myself, as yo1 will
perceive from my writings, in favor Of
tho full and complete adoption Of the
double Standard and in that letter from
Mr.. Seyd from beginning to end, cover
pages and pages OF type.written matter.
he does nothing but oppose the very
measure that these men say he spent SO
much money to pass through the Amer.
lean congress-"
Harvey rejoined as follows: "The re-
port Of the monetary conference at Paris
In 1857 will contradict the history that
Mr.. aorr has read from. As to Ernes.
Scyd and a letter found among Mr. Hoop
er's effects since he and Seyd both died,
suppose in the years to come some one
would say to the people then living that
John q. Carlisle was biInetaIlist and
here is the proof Of it, and was to read
from Mr.. Carlisle's speech, The demone.
tization of silver is the greatest crime Of
the ages and its consequences for evil are
greater than all the 1,ols and fires and
pcstilences of the past Would that
prove that Mr.. Carlisle is n bimetallist at
a particular time when something might
be charged against him when he acted as
secretary Of the treasury under Mr.. Cleye-
land
Harvey then proceeded with the record
OF congress when the house refused to
suspend the rules ami pass the demone.i-
z,t!cn bill without reading Mr.. Ho,-
man asked this question: Before the
question is taken upon suspending the
rules and passing the bill I hope the gen.
t!emsr from Massachusetts will explain
the leasing changes mado by this bill in
the existing Law, especially in reference TO