The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-07-18

money of the constitution. That the sill
yer dollar was the unit of value in our
coinage system in this country from 1872
TO 1876, Just as the yard stick was the
measure of length. That gold was meas
ured IN this silver unit and concurrent
coinage given to it (gold). That silver
and gold combined constituted the legal
standard of value in this country until
1875; Silver measured gold; the two
together measured all other property.
| "Second-That the act of 1873 was sur-
reptitiously passed.
! IAlrd-That during the period of 1892
to 1913 the mints We're open NO the unlim-
lted coinage of both metals into primary
or redemption money and that both were
treated as such; that during this period
people had right to have metal coined
into full legal tender money and the op-
tion was that the debtor pay in coins
of either metal.
! "tourth-That this bimetallic system
made an unlimited demand for both met
ais TO be coined into money, increased the
demand for these metals, and so long
as this law authorizing any one to coin
3ll Ia grains of silver and % 2-10 grains
of gold into q dollar, there was no one
willing to sell either for less than a dol
lar.
"Fifth-That the option ITO pay in either
metal caused the cheaper of the two met
ais to be used and transferred the demand
from the dearer to the cheaper metal
and restored its relative commercial value
We are for both silver and gold; we are
called silver men because we are defend
ing the metal that has been demonetz-
| ed.
"SiNth-That it is to the interest of the
| United States to act independently in the
. | rnmnn nti 1otinp nf SiICpr of ho IN
gold of Ii to l without waiting for the
action of any other nation.
= "Seventh-That monometallism consists
in the use of lthe dearer of the two metals
to the exclusion of the other as primary
or redemption money. That monometal-
lism rs an experiment ON trial for THE
first time in the history of the world
and began with the period 1878; that it
is impractical and impossible as a stable
money measurement of values: is not
based on scientific financial principles;
is in the interest of money lenders and
against the interest of properly owners
and laborers.
"Eghth-That THE gold unit as the
metal of value, with no concurrent coin
age of no other metal TO assist it in per-
forming the functions of primary money,
has caused the fall in prices as compared
with 1872, when the worlds prices of
J.
made of both metals; that the prices of
property and labor have declined accord
ingly as compared with 1872, except when
held up relatively by increased demand
or short supply of combines and trusts,
or special reasons affecting a particular
service of property; that the average
price of all produce, except gold, will
show this decline is adjusting itself 40 the
gold Standard and that when we include
| in, 1nbnr tbo pln ynI and the timp
lost by those employed, there is fail In
wages of l IL as compared with 1877;
that labor is adjusting itself to the gold
standard measurement of values.
"Ninth-That the define in prices GOV
cred q period of % years, and as rule
made all classes of productive, mercantile
and manufacturing business unproiltable;
that q falling market covering long
period, destroys the prospective profits
based on cost of purchase and production
and majority of our most astute busl,
mess men met failure or loss of CAPITA.
under these conditions.
"Tenth-That it has worked y hard
ship and injury to the debtors, VINO, un
ronscious of the cause which continually
reduced prices of their property, have con
racted debts during these - years; thai
This fall in the prices causes a sacrlhct
bf property to purchase the dollars witt
|
has caused the renewal of debts-tne con
traction of new debts to pay old debts ano
an enlarged volume of all debts; that TINS
uniustly takes from u debtor mis- property
. and emphasizes the need OF n stable meas
urement of money values.
"Eleventh-That nobody is bcnellWe'
by the fam of prices but the money lenders
the owners of the money and the securl
ties payable in money-fiXed incomes.
"Tweifth-That the foregoing Facts an'
conditions, produced by a change IN ou
money measurement of values, Will I'm
poverish the masses of the people, AM
POINTS. by reason of the disturbances !
will produce, to the overthrow OF tn
republic. .h.,o ,,,h
'To all unbiased men and those wh
Law aside their prejudies during the read
ing of this debate, expect to make goo'
ali of the foregoing propositions. Ever
fact i'm the School that Mr.. Horr doe
not attack, / shall take for granted ina
p he admits as truth. | am now. ready !
o proceed in the order Indicated III Com
Financial School and as contemplate
(, by the rules of the debate"
o THE DEBATE PROPER.
n The debate proper began by Mr.. Hor
4 asking his opponent to tell plainly !
# +boro ,yoc avar amy Such school held 81