The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-08-01


since the demonstration of silver women
| had been forced to work for their living
because their fathers and brothers were
out of work. This had reduced the mum
| Der of women available for domestic
service and wages for Sudh services had
remained firm or advanced.
Taking mp his argument Mr. Harvey
said that under free coinage gon would
| decline while silver and everything else
v0ulJ advance. II was claimed that if
silver was granted free coinage our Sc
curitieS would be thrown over. The rule
was that securities were mot thrown over
on advancing prices. Gold was the ARTICLE
TO get rid of, for it would at once decline,
he declared.
Mr. Harvey asserted that the demands
of business i'm this country would absorb
al the silver available for coinage, if all
the gold AND silver in the world was sent
10 orr nintS for coinage. 1t would be to
the benefit Of the United States and IN
Jury to the rest of the world.
Mr.. IIOT rcSuSmed his argument. say
ing that the savings bank depOsitorS had
81 100000 on deposit which it was pro-
posed to cut i'm two: building and loan as
soca.ions had 1.72j,OO0 dcpostors with
On aggregate Of So. 5S2, 900 due them.
In addition TO these There were the trust
companies. life Insurance companies and
STATE banks. all of which were NO be al
lowed to pay in deprecated money.
And the money in the pockets Of every
man aud woman in the United States
was +" be saved in value. This was
for the benefit of 10000 silver men.
While their output was not worth half
as much rs the eggs laid yearly by the
hens of the United States and was about
cqua1 in value TO the peanut crop; but the
|, ,t,.1 h., 1
qtruction of all credit. 1t would bring
about the worst panic the nation ever
witnessed The paralysis of business
would be complete, for % per cent of
tine business Of the world was done on
credit.
Mr. Harvey. replying, said that thous-
Ands of men had been financially
wrecked by their imbility to keep up
their insurance payments. He declared
that there was but one worse crime than
that of 1873, and THAT was committed
by the man who claimed that the defend
erS of silver want Reputation. He
thanked Mr. HOrr for the illustration
as to the small amount of silver in the
country. There was no danger but the
demands of business would absorb it
This nation could COIN all the silver
which other countries could bring to the
limited States. We could purchase these
products and ask them to come again.
We could thus absorb all the silver in
the world. if necessary. The history of
every nation of the world shows that
thc more primary money it had Jhe more
prosperous it was. As long as this
country could make an unlimited demand
for silver at a fined ratio, the holders
would not part with it for less. 1t
would increase our trade with the gold
Standad nations of Europe through our
control of the products of silver standard
nations.
Mr. Horr in turn. said he spoke not
IN the quantity of the silver i'm the cOun
Try in comparison with eggs, but with
The yearly output of SILVER. There was
difference i'm the staying
qualities of silver and eggs. The trouble
Mr.. HOrr declared, was that with free
silver coinage, gold wOuld leave the
and business would be on a
oasis different from the rest of the world.
He argued there was enough gold in the
world for the transaction of the legal
business of the world. Since 1880 the
supply of gold in the world has increased
form of about $1,000, 100000 to over
$4,000, 00O,OOO, with indications Oft
continued increases New proper
ties and new mechanism We're
being developed rapidly to choap,y |
FURNISH the gold cure for Mr.. Harvey 5 |
silver Jim jams.
MIR. Harvey said that the more rapidly |
he blood coursed Through the body, the |
more blood was needed, so. the higher |
he civilization, the more rapid the eN-
+haHge of commodities, the more money |
hose exchanges required for their ac-
Mr.. Harvey said that amy one who had |
occasion to look into the question of the
'eports of Nhc output of the mine would
not be STARTLED 10y Mr., HOrr' big figures |
lie then quoted the statistics of lndla
Under the silver standard, showing II
steady growth until the balance of TRADE |
vas in her favor i'm 1873. lie declared
mat to their use of silver and our COM |
,arative diSuse of it is what had given |
such an impetus to India, Japan and
Mexico.
He declared he was in favor of indie
pendent action by this country because it |
would right a big wrong; because its |
would mot injurc; because |
his nation should be Independent of |
europe; because our power is sufficient |
o compel Europe ito come to our stand |
Ird in order to do business with us. |
balances were settled by |
weight NOW, anyhow. There was no |
uch thing as international money.
Mr. Horr said THAT there was no hack
Of prosperity in this country, as MIR. Har- |
yey claimed Mr. Hvrr said he spoke
from the result of actual contact with !
the people of the country. Since 1877 he
travelled over 100000 miles, covering 81 |
STATES, 1t was Il fact THAT no people on
the face of the earth We're more prosper
Jus than the people of 1893. Why, dur |
lng the last year these people whom MIR. |
Harvey said were ON the verge of Starva- |
tion, had paid over S3,OOOOO0 for 300 |
300 bicycles. These We're not strictly ar
ticlcs of necessity. They were, he said, |
used somewhat for business. but mostly
for recreation. Mr. Hour then proceed
ed to argue i'm behalf of the single stand |
nrtl of money. sayimg that its stability
was it's chief merit, and a stable money
could not be maintained with two stand
arlS Why not go back to the standard
of Harnesses H. 4 to -? The whole thco-
ry was fallacious The coin must be i'm
trinSically worth it's value.
Mr.. Harvey said that money had not
been made with weights; the bimeta.liSt
relied ON two metals and it was moro
stable than single standard. Free COIN
lgc i'm the United States would establish
Il parity, and then gold would be found
lcre. If the limited States would take its
stand it would prove stronger than Groa
Britain. France had promised to stand
by us: Mexico and South America would
INnn,h;,,,N1 f1,.,,- r,-null fnrpn