The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-07-17

TEN which Mr.. Harvey advocates
would work great injury TO the vast
majority OF American citizens. l will
state still further that II this book
which We are going 10 debate Is true.
then i am all wrong. 1t seems 10 me
to be devoid OF business sense from
beginning to end. and | shall enter
upon the work of attempting to prove
that, and hope to be able 10 Il, Ii In
language that shall be so plain and
explicit that my fellow cltizanes will
be satisfied that have accomplished
my task. Visionary schemes and de-
based money never yet made a nathin
prosperous. The quality OF the money
used In any country Is far more i'm
portant than the quantity"
Mr. Harvey's Talk.
Statement made by Mr.. Harvey at
the opening OF the debate.
Copyright secured by Azel F. Hatch
OF Chicago).
II am here to defend the facts and
principles In Coins Financial School,
l expect to make good in this debate
the following propositions; That sill
yer and gold are the money of the con-
stitution. That the silver dollar was
the unit Of value In our coinage system
in this country from 1899 to 1873; that
gold was measured In this silver unit
and concurrent coinage given TO 1t
(gold); that silver and gold combined
constituted the legal standard of value
in this country until 1873; silver meas
ured gold; the two together measured
all other property; that the act OF 1873
was surreptitiously passed; that dur
ing the period from l79s to 1873 the
mints were open to the unlimited coin
age of both metals Of primary or re-
demption money and that both were
treated as such; that during that Pc
riod the people had right to have
either metal coined into full legal ten
der money. and that the option was
with the debtor to pay In coins Of
either metal; that this bimetalllc sys-
TEN made an unlimited demand for
both metals to be coined into money.
increased the demand for these metals
and so long as this law. authorizing
any one to coin 37lA grains of silver
and 23.2 grains of gold into a dollar
there was no one willing to sell either
for less than a dollar; that the option
to pay In either metal caused the
cheaper of the two metals to be used
and transferred demand from the dear
er to the cheaper metal and restored
its relative commercial value; that It
is to the interest Of the United States
to act independently In the remoneti-
cation OF silver at the ratio to gold Of
l6 to l. without waiting for the action
of any other nation; that monometal-
lism Is the use Of the dearer of the two
metals to the exclusion Of the other as
primary or redemption money; that
monometallism Is an experiment on
trial for the first time In the history
of the world. and began with the pc
riod Of 1873; that the gold unit as the
measure of values, with no concurrent
coinage of another metal to assist II
in performing the functions of primary
money, has caused the fall In prices as
compared with 1872. when the worlds
prices Of property were measured In
the money mass of both metals; that
the decline in prices covering a period
of % years has. as rule. made all
ClaooCo VI PAOoaStihGs anu
manufacturing business Improbable;
that II has worked hardship and In
jury to debtors who. until conscious OF
the causes that continuously reduced
the prices Of their property. have con-
tracted debts during these % years.
That this fall In prices causes a sacri-
fee of property to purchase the dollars
with which to liquidate these debts;
that In the end. no one is benefited
by fall In prices but the money
lender. the owner Of money and secur-
tiles payable In money fixed incomes;
that the foregoing facts and conditions
produced by a change in our money
measurement of values will impoverish
the masses of the people and points
by reason Of the disturbances 1t will
produce, TO the overthrow Of the re-
public
ITO all unbiased men, and those who
will lay aside their prejudices during
the reading Of this debate. l expect to
make good all the foregoing PROPOSE.
tons. Every fact in the School that
Mr.. Horr does not attack. l shall take
for granted that he admits its truth.
I am now ready to proceed In the or.
der indicated In Coins Financial
School and as contemplated by the
rules of the debate"
The debate proper began by Mr.. Hori
asking his opponent to tell plainly Il
there was ever any such school held as
that he described in the book. Coins
Financial School"
Mr.. Horr said: II find all through
the book a large number of statements
attributed to very considerable mum.
Der Of business men Of Chicago. and
am informed that none Of those men
word attributed to them. II the book
Is written as an allegory I would like
my friend to state why he did not use
as all literary men have always done
the names of fictitious individuals, un.
less he intended to convey the impres.
sion that those men were present and
received the castigation which he says
he administered to them on the spot
/ The book even goes further. 1t de.
scribes the crestfallen manner In which
some of the gentlemen left the room
after being worsted in this fearfu
manner Qaughter) | feel now what
we want to get at is the facts abou;
the book. so that we will know how WI
are proceeding"
Mr.. Harvey-"The school is allegori.
cal. Ii marshals the opinions OF the
two sides of this controversy so tha;
one In Imagination can see the conflict