The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1895-08-01
Free Coinage Of Silver

hf' NUT saiu that was not the question 70
be considered at all. but whether 70 Nv
entire civilized world has refusal ., .ne
silver as money Of final redemntion ond
sim refuses to use II, can the Tritoa
states, single-handed and alone, afford to
put Itself on silver basis and i,in Nv,
leo, China and Tripoli upon he subject
He then submitted the table ~ GOLD or,
silver since 1874, taken from AR IIarron "u
books, and added to 1t the mint r,nnTts
or the years 1898 and 1894 This tabIo
showed. Mr., Horr declared. tia. stree
1874 the production of silver hus b,en
steadily on the Increase, and that god las
since 1875 been also on the Increase I'M
while silver had increased In quantity three
times during that period gold taI only
doubled In quantity.
Mr. Harvey went back 10 the discussion
of primary money as measure of value.
In 1867, he declared all the money In cir
culation was $lS.2S per capita, and In 1872
It was Sl919 per capita, and in those Tires
all money was primary money, the measure
OF value being paper money itself. In 1854
we had per capita circulation u S2i %.
He then said
Now, you will say that tho quantity Of
money in circulation affects prices You
have more money, primary and credit com
bined, In circulation In 1894, per capita,
than you had in the two years named rre-
vious 10 1873 and yet prices were higher
then than now. Why? Because There was
more primary money per capita In cIrCii!a-
ti"n at the two first named years .daa
there Is in the last named year. 1894 az
the S24 per capita In circulation Jf all
money in 1894, only about So Is primary
money, while In 1867 and 1872 there was
SIS primary money in circulation per cap
ita"
specie Payment.
Mr. Horr sad Mr. Harveys definition Of
primary money was money of redemption.
itrnn NH lis had 70 ha rAfo Oh
them good. and they could not by any hook
or crook be construed into primary money
Mr.. Horn then said:
Now, in 1879 we did return to specie
payment; we did make our greenbacks and
h! our money as good as the best. and
Binther Harvey and his whole crowd of ad-
hersnts were going up and down this coun-
try stating that IL we undertook TO enforce
that a.t we would ruin the business Of the
country ! know they said It. because I
heard them do dozens and dozens Of
times. They believed 1t, just as Harvey
does now
Mr.. Harvey: "Ycu did not hear me say
It."
Mr, Horr: "Well, IL you were old enough
you did say Ii. A man constituted as you
are could not have sad anything else"
Mr.. HOrr declared that the "s'un" he
was preaching, as It had been demon mated
/ by Mr.. Harvey, was upheld by every civil
1
such countries as China, Mexico and Japan
| favored the silver standard
Mr.. Harvey denied that Mr.. Horr was
| justified In calling him a greenbacker, and
| said that he believed in gold and silver as
primary money 10 the fullest extent under
| bimetalic laws that governed it prior %
| 1913. In relation TO the claim Of Mr. HOrr
| that all the civilized nations of the earth
| were in favor Of the gold standard. Mr..
Harvey said that all the civilized nations Of
| the earth were at one time slave holding
nations, and the individual shareholders had
made precisely the argument advanced by
| and redemption money. and declared that
credit money may be Issued by the gov
ernment with safety only in such qCanti-
| ties as will not embarrass l. IN
| case run Is made on the gov
| eminent for redemption. II the gov
eminent requires redemption money
! ii can float bonds among its own people 10
| the full amount necessary to obtain what
| primary money it needs. No government
| should ever borrow from the people Of an
| other nation. To do so was cohesion OF
| monetary weakness No government, be de-
cIared, should Issue credit money in guam
tity beyond the amount Of primary money
among its own people, and 1T should have
no money In its treasury except for Its cur
rent expenses and improvements. The
money should be among the people.
This closed the debate for to-day, and an
adjournment was taken until Thursday.