The times. [volume] (Richmond, Va.) 1890-1903, 1895-07-17
PRICE TWO CENTS.


labor have declined, accordingly, as COM
pared with 1872, except when held up
spcculatively by increased demand. OF
short supply or combines, and trusts OF
special reasons affecting a particular SER
vice or property. that the average price
os all production. except gold, VIII show
rhat this decline 10 adjusting
Itself TO the gold standard. and that when
We include In the labor the unemploysd
and the time lost by those employed. there
is q fall IN wages Of one-half, as com
pared With iS12. that labor Is adjusting
itself TO the gold standard measurement
of values
80 That the decline I'm prices covering
n period of twenty-five years, has, AS a
rule. made all classes OF productive mer-
camille business unprontahle that a fall.
ing market. covering a long period. re-
duced the profits based on the cost OF
production. and a majority of our most
aetute business men cannot avoid failure
or loss OF capital under these conditions.
10. That IL has worked hardship and
injury TO debtors, who. uncOsscOus OF the
causes that continuously reduced the
price OF their property, have contracted
debts during these twenty-five years: that
this fall IN prices caused sacrifice OF
property To purchase the dollars with
which to liquidate these debts; that this
ms tdnct1 1nH tfntMAi III 1tDtN, tnt ttn-
traction of new debts TO pay OLD debts.
and an enlarged volume OF all debts: that
this unjustly takes from a debtor his
property. and emphasizes the Importance
OF having a stable money measurement OF
values.
II. That I'm the end no one Is benefited
by fall in prices, but the money lender.
the owner of money. and securities pay.
able in money-fixed incomes.
'l2. That the foregoing facts and con-
ditions produced by change in our
money measurement of values will Inn
pOyerish the masses OF the people AMI
points by reason OF the disturbance It
Will produce TO the overthrow OF the
Republic"
To all unbiased men and thos. who
will lay aside their preiudccs during tho
progress OF this debate. | expect 10 make
good all OF the foregoing propositions.
Every fact In the school that Mr. fIorr
does not attack | shall take for granted
that he admits to be the truth. ! am now
ready TO proceed In the order indicated In
"Coln's Financial school" and as con-
templated by the rules OF The debate.
Nh. HoRR OPENS.
In opening his side OF the question, Mr..
Horr said:
1T is agreed between Mr. Harvey ana
myself that previous to entering upon
the general discussion each Of ms shall
make a brief statement defining in a gem
eral way the position he proposes 10 oc-
cupy I'm this debate. The question which
We are about TO discuss Is one that 10
not only very great among the people. Dut
IL is one that Is also receiving some at
tention from the nations of the old
World. The question involves the kind OF
money that shall be usei hy the people
OF the United States. AMI has 10 ID
with the laws which will affect the
great business interest of this nation.
-"'rhe foundation of the discussion upon
which We are abou. 10 enter f. a small
book published by Mr.. Harvey. MY OPP
ponent. and entitlc COINS Financial
school,"
"The real aim ana object NJ that book
Is 10 convince the people of the United
states that this Government alone should
at once enter upon the free and unlimited
coinage of silver upon the old ratio OF
sixteen 10 one. Tho wisdom OF such
course | dispute.
"Mr. Harvey VIII stilt MAINTAIN th'
affirmative OF that issue
II will state I'm the outset that from the
beginning 10 the end OF the book the'e is
hardly proposition made 10 which give
my assent.
propose 10 controyert many things
which are stated as facts. and shall at
tempt 20 prove that the entire theory set
forth by It's author. II adopted by me
people Of this country, would lead only
10 business disaster. and financial ruin.
II am not here as an opponent or bi-
metallism | believe IN the use OF gold and
silver as money TO the fullest extent that
can be done on sound business principles.
Il have always entertained the nope
that the business men OF the world would
yet come together In international con-
yentOn, and Iagree upon some basis
whereby gold and silver can be botn
used as the money OF final settlement
among the people OF the entire world
am very clear In my idea that untii
some such arrangement has been made
It would be simply suicidal FOR this nation
10 adopt system OF the free coinage Ct
silver upon the old ratio, a ratio which
all the civilized nations OF the world nave.
long since discarded.
II shall deny most emphaticaily tnat
the great majority OF the people OF this
country are in debt. ana shall insist that
three-fourths Of the American people are
to-day creditors, and not debtors, aud
the system which sir. Har-
yey advocates would work great injury TO
the vast majority OF American citizens.
Il believe that gold and silver are the
natural money OF the world. that In all
the largest transactions gold Is better
adapted 70 the business needs OF the
people than silver. for the small business
transactions OF the human family Tor
many years have been. and always should
be, conducted with silver.
Il believe In transactions Of the nations
between themselves the two metals should
DO used in the settlement OF balances.
but only at their commercial value
also believe that In the busines OF our
nation the people should never attempt TO
use either metal. except al IT'S actual
value. except in cases where one metal
may be used as token money, and De
made redeemable in metal At It's CONNER
cial value.
Understand me- IN u few words:
believe that the American nation should
have Just as good money as any nation
uses. / believe that every dollar paid 10
poor man for his daily toll should be
worth az much IS the dollars paid to
the men who are .'lch. 1 would have the
money that m'dsurcrs value the most
stable that can De devised and would sa-
s.st that buyers and sellers, lenders and
debtors shall. as near as possible, be re-
quirei 10 use the same measure Of values.
AID shall insist that reputation In all
forms Is dissraceful and Gishonorable in
the case Of nations. corporations, or IN
oiyiduals. Wha- our people need is good
money, good credit. good principles. and
sound business sense. Visionary schemes
and debased money never yet made =
ration prosper,Is.
The equality Of the money used In any
country Is far m,re lnportan, thaa the
quantity Laws should be drawn TO pro-