The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1895-08-08

10 what Is becoming OF the silver being
| produced al present. He first quoted state.
| ueutS Dy authorities that the increase Of
| cue use OF the metals I'm the arts had grown
| 50 large that there was always ridiculous
| ~ small supply In Europe. and there was
d demand for practically all Of the output
| OF the United States as produced.
proceeding, Mr.. Harvey said that gold
| was irregGlarly produced and was boarded
| py the few rich. Silver. on the contrary.
| When more valuable than gold, was boarded
! oy the mass of the people, thereby con-
ferring a general benefit. 1t was for this
| reason that silver had been a more stable
| metal In the past than gold.
The Reduction of Debt
MT. Horr said that Mr.. Harvey had the
| uhtortun2te habit OF comparing things
| which had no relation. That was the mat
| Ter with his cube argument on gold and
| silver. The cubic space which they would
| occupy mad nothing to do with their value
| hesuming his argument and referring TO
| MT, Haryey's statement that the remoneti-
cation or silver would reduce deSts by one
half, Mr.. Horn said that by far the largest
| part OF the debts OF the United States were
| less than one year old. The longtime
| debts were contracted under the existing
| gold basis and to reduce them one.half
would be to repudiate that one-half. Mr..
| HarVeys proposition would simply result
In silver monometallsm. 1t had been
| thought that IL was possible to clip moneys
| without inJuring anybody. That had been
proved fallacious. He declared that the
| cheap money could not be substituted for
| good money without injuring the mass of
the people. The people who would profit
| by such change would not be the rich,
| but the money changers. Mr.. Horr then
| proceeded to enumerate the classes OF peo-
| pie who work for their living, arguing that
| they would be injured by cheap money.
| Harvey's Cube Argument.
L Nv Haru
| ment, declaring 1t was valuable object
| lesson. 1t showed that the Rothschllds
| could corner the gold of the world in their
vaults. Who was it that clipped the coins
| In 1872 Who was 1t that established a
| robber standard? Resuming his argument.
| Mr.. Harve- said that the gold advocates
| feared that the debts contracted In gold
| would be paid In silver and the man who
| had stipulated to pay gold would have TO
buy 1t at premium. This was falacious.
| AS soon as silver was remonetized no man
| could stipulate for payment In gold; the
| demand for gold would decrease. and soon
| the difference between the metals would be
| wiped out; soon the purchaser would be
| able TO get more In gold for what he had
| to sell than now. He declared that 1t was
| not the stamp on the coin which gave IL
value. but the making of a new use and
| new demand for it, If, at the next general
| election, a bimetallic congress should be
| elected. the Rubicon would be passed the
| next day, silver would at once begin to ap.
| preciate and gold TO depreciate. and they
| would be at parity before the meeting Of
| congress, as the greenback dollar became
| equal in value to the gold dollar before the
| resumption act came into force.
Size and Value.
| Mr.. Horr. resuming, reiterated the state
ment that size had nothing to do with
| value. A diamond worth S1,OOO.OO0 could
| be put into quairs egg. Mr.. Horr then
| continued his enumeration Of the classes
| Of people who. he declared, would be ruined
| by cheapening the measure Of value. They
| included Gay laborers, clerks stenogra-
| piers, railway employees, domestic servants,
] janitors and scrub women, skilled labor OF
| all sorts, agricultural laborers miners and
| the like, In the aggregate %, 49,, 661 In
| number. In addition to these, he spoke
| OF the pensioners OF the government, maxi
| ing touching reference in doing so to the
| empty sleeves OF the veterans and the black
| robed widows. In number 1000, 900. 1t was
| proposed to cut down the pension rolls by
| destroying the value OF the money in which
they would be paid. If this law were
passed their pensions must be doubled. or
| the nation disgraced. In addition TO these.
| 4,IS1, 695 people had their little savings In
| savings banks, whom 1t was PROPOSED to
defraud Of one-half Of their little accumu-
| lations.
| Under Free Coinage.
| OF domestic servants, Mr. Harvey said that
| since the decentralization 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 available for domestic service, and
| wages for such service had remained stiff
| or advanced. Taking up his argument. Mr..
I Harvey said that under free coinage gold
| would decline, while silver and everything
would advance. II was claimed that IL
| silver were granted free coinage our secu-
| rifles would be thrown over. The rule
was that securities were not thrown over
| on advancing prices. Gold was the article
TO be got rid OF. for 1t alone would decline.
| he declared.
They say with silver only In circulation
| we are on silver basis. They are wrong.
| When. under a law OF land either metal
has q right to enter the minis and be
| coined into money, that nation is bimetal-
lie nation. The fact that the people have
| q right to use the cheaper metal Is their
/ salvation, and secures TO them q stable cur
| rency that will register an exchange value
between property over long period that
| is equitable. The metal that Is not in cir
/ culation reinforces the one that Is. 1t en-
| ters into and becomes part OF the other In
| exerting itself as q measure OF values.
| Both combined are measuring values. 1t Is
| when the dearer metal only Is used as
/ money and the other Is demonetized that
one only becomes the measure Of values. A
debtor would get his gold easier with an.
| other metal In competition with gold than
| hs can get 1t now. / now pass to the Ques-
| ton Of 18 to 1.
| We maintain that there Will be q COM
| nercIal parity between gold and silver ut
| the rst Of 16 TO II the law Is passed
| putting beth metals on an equal footing
| at that ratio. What we mean by an equal
| footing Is that both shall have the right
| TO enter the mints free to be coined into
money, with 1922 grains Of pure gold TO
| be a dollar and 371k grains OF pure silver
| to be dollar. The money made from
| both metals to be full legal tender money
| In the payment Of all debts and the debtor
| to have the right to pay In either metal.