The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-09-04

power. II q majority Of the supreme
court are thus infected. as fear, It
could not take the broad craftsmanship
view OF this question required.
Second-That the silver dollar was the
unit or value in our coinage system fixed
Dy the act Of 1892 Mr.. Horn admits this.
See pages So and 81 official report.
1nlro-Inat silver and gold were both
the measures Of value of all property till
1873 and the debtor had right to pay
MI. Motsinger on page 100.
Fourth-that the act of 1873 was sur
reptitiously passed
After reading the debate on this SUBJ
1ect; one will turn back to page SO and
read there with surprise the following
language used by Mr.. Horn when introduce
ing this topic: Il propose to show YOU
during this discussion that no law has
ever been passed by an American congress
which was ever freer from taint which
was more carefully examined, and which
was more completely and fully under.
stood that the law of 1873"
When one considers that the people wers
deprived of one-half their primary money
without their knowledge or consent in
this republican form of government, one
can better understand the unjust and i'm,
moral position taken by the monometal.
lists. who have since stubbornly refused
to allow the people to pass verdict upon
this question. What Garfield, Blaine and
others said upon this subject will be-
found in the Congressional Record"
during the discussions, to which INV
other references given in debates will d.
rect the reader. A letter from ex-Attor.
ney-General Pierpont under Presiden,
Grant to Hon. George Merrick, Denver.
Col, stating that Gen. Grant told him
that he was deceived by the act Of 1879
is in my possession, and 1 will cause it ia
be printed and get general circulation.
Fifth-that for all time of which we
have any knowledge, gold and silver were
treated equally as money; both had a
right to enter the minis in all the coun-
tries of the world until 1916, when Eng.
land closed her minis to silver, and
1884, when the United States Germany,
France and the Latin union followed,
And, until 1894, the commercial value of
the two metals were substantially at
parity with the legal ratio; that this con.
ditlon made both metals available for use
as primary money, and the demand for
primary money was relieved by the vol.
ume Of both metals.
SiXth-That prices of all property are
now measured in gold alone, and ara
half what they would be under the BIZ
metallic system. Mr.. Horr frequently in
debate substantially makes this admis.
sion.
Seventh-That there were s143. 900. 600 in
silver coined at our minis prior to 1873.
oil VI WHICH coined prior TO 1893 Drl-
mary money and since 1853, the silver
dollars were primary money, and by vir-
tue OF the right of silver to be coined
into primary money through the medium
OF silver dollars, the whole volume Of
the silver supply was behind our mon
etary system, was exerting it's influence
as measure of value and stood ready to
be coined and to share equally with gold
the demand for money; that all the silver
coined since Feb. IL, 1873 has been token
money, representing gold, is not exerting
an influence as measure of value and
is not performing it's function Of pri-
mary money.
Eighth believe those who read and
carefully digest the debate will conclude
that l have made good all the proposi-
tions set forth in my opening state
ment. Mr.. Horn found no errors in COINS
Financial School," except the statement
on page 9, where it stated that the silver
coined prior to 1873 was $105, 600, coo. which
we both agreed should read $143. 000, 900.
This is not an error affecting the merits
of the book or the principle involved,
and to have 1t stated at SAB 900, 900 would
have been more to the interest of my
cause than stating it at $105, 900, 900.
Mr.. Horn stated that Jefferson did not
stop the coinage of silver dollars in 1906
and direct that all silver seeking the
minis be coined into 50-cent pieces, and
because of the scarcity of small money
as stated in the School, but virtually re-
coded from this claim on page 144 The
expectation of silver dollars have also
been coupled by me with this statement
in the school. The reason for this expor-
alton was not, however, on account ora
premium on silver over gold but because
our silver dollars circulated as money in
other nations, where their familiarity
with the dollar would cause it to do so.
whereas, they were not familiar with our
fractional coins, and thus the latter more
readily stayed with US.
Mr.. Horn said that when gold or silver
was the unit, the quantity in a dollar
could not be worth either more or less
than a dollar, more or less than itself
and criticised my statement in the
School that it could be worth more.
passed it at the time as did many other
things that had no substantial bearing
on the subject under discussion. refer
him now to recent marked quotations in
New York when gold bullion was selling
at a small premium which was account
ed for at the time as purchases made by
the gold syndicate to prevent gold from
seeking the minis I also refer him to the
silver unit I gave him, the old-coin deal
ers' quotation on which is ST.
Mr.. Horr's frequent references to
change in the ratio prior to the forma ton
of this government is answered by this:
That these changes were not to make less
money, but to make more money In no
instance is it known that silver was dis
turbed by increasing the size Of the coins.
These changes were made in the gold
coins and were made to make more
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