The advocate., 1895-07-24

he had not quoted the whole law. Harvey
closed the subject for the session by say
ing that he quoted section correctly, what
there was in another section he did not
care about.
Resuming the subject Of silver demone-
aization Harvey said ''the intention of the
cOnspirators was to strike out secretly the
single line providing for the silver dollar
the size of French five-franc piece, and
with the bill thus enrolled the mints
would be closed by it's terms to silver, ex.
cept the trade dollar. To make the bill
operative In this respect when the standard
silver dollar clause was erased a section
was inserted in the latter part Of the
measure that there should be no coin
struck at the mints except those herein
before provided for. The trade dollar
clause could be easily repealed or limited
under the purchase clause, and this was
subsequently done"
Horr here again came in and quoted the
"School" as saying that ION account Of the
scarcity of silver both Jefferson and Jack
son recommended that dimes, quarters and
halves would serve the people better than
dollars until more silver bullion could be
obtained This was the reason why only
about eight millions of the eight hundred
and five millions Of silver was coined into
dollars"
This was on page 10 of the School"
Then Horr quoted from page 10 ''the table
from Mulhall, the London statistician, in
which you show silver was not scarce at
that time. You show 1t was with one eX-
ception the most plentiful that 1t had been
at any one time during the experience OF
the government" Horr proceeded to say
that If Harvey had turned to the mint re-
ports for 1898, page 88, he would have
found that the director Of the mint says:
''NO issue of silver dollars was made from
the mint from 1906 to 1886, the coinage
having been suspended by the direction Of
President Jefferson, owing to the fact
now mark-that their bullion value being
greater than their face value they were
purchased for export
In explaining his statement that silver
was scarce when the coinage Of the dollar
was suspended, Harvey said that 1t was
scarce In the United States, although
abundant in the world. He then returned
to silver demonetization in 1873, but gave
Horr the floor In taking up the subject
Horr said he proposed to show that no
law has ever been passed by the American
Congress which was freer from taint,
which was more carefully examined, which
was more completely and fully understood
than the law of 1873. The statement
which he read to you that the scheme
was concocted in London is a simple as
sertiOn upon which he cannot produce one
scintilla of respectable truth, not one
Word.'
"The law Of 1873 had its origin, as all
such laws have, in the brains Of experts.
The question of coinage, mintage, Is most
intricate one; a complicated one, and usu-
ally it has been decided by few men who
have studied the problem laboriously. All
the men who ever assumed to be able to
discuss the matter intelligently Tin the ear
ly days Of the century, could be counted on
the fingers Of my two hands. At their
head stood Hamilton, the Morrisses, JEFF
ferson and Gallatin. And so complicated
was the question that no two Of those pa
triots agreed about any one feature Of the
measure when they first commenced dis
cussing 1t. In 1884 the law as to mintage
was changed in a material manner for the
first time; 1t was done by decreasing the
amount of gold in the gold dollar. 1t was
done because experience showed those peo-
pie that the cheap dollar, which was sill
yer, had driven the gold currency out OF
the United States.
Several members of that Congress In
sisted that If the ratio was made 16 to
silver would leave the country and that we
would be doing business very soon upon
a gold basis and with gold currency only
But 1t was done, and, as those men pre-
dicted, silver ceased to be the masure Of
values in the United States. don't say
Mr.. Harry, ceased to be the legal meas