The San Francisco call., 1895-07-17

great complicated questions OF hnance are
so simple that little children can under
stand them when grown men cannot ind
anything about them? Is it your idea that
when Newton saw the apple fall If little
baby had been with him the babe would
have found out good deal more from The
circumstance than Newton didP"
Said Mr.. Harvey:
"Mr. Horr misinterprets the meaning OF
that verse. The word babes is introduced
to mean those pure of mind and unselfish.
1t is in that sense that it is used in the
Bible, and means that those pure in mind
and unselfsh can clearly see those teach
ings which the impure of mind and selfish
cannot see or understand. The cause l
represent is pure and urselish.
I'm carrying out the ideas of an illus
trated book an illustrated preface was
adopted to show the rise and decline of
civilization concurrent with an increase
and decrease in the volume of primary
money. The two pictures that appeared
in the book were thus used; the space
below the pictures was limited in which to
place the illustration; so used only suffi-
cient authority to establish the principle
of. The authority used was the report of
the monetary commission approved by
Congress in 1876. reported in 1877 and pub
Iished in 1873.
"The COPY used had the date of its publi-
cation on the cover and that date was
given in accrediting the authority. 1t was
afterward changed in School to read 1876.
l now read from report paragraph from
which the abbreviated statement printed
under the picture in the preface was made.
1t begins with the last two lines on page 40
and is as follows: AT the beginning of the
Christian era the metallic money of the
Roman empire amounted to 81 500 0000,G COO.
During this period most extraordinary
and baneful change took place in the con-
dition of the world. Population dwindled
and commerce, arts, wealth and freedom
all disappeared. The people were reduced
by poverty and misery to the most de-
graded conditions of serfdom and slavery
1.-THE disintegration of society was al
most complete. History records no such
disastrous transition as that from the Ro-
man .empire to the dark ages. Various ex-
plantations have been given of this entire
breaking down of the framework of So
ciety, but it was certainly coincident with
the shrinkage in the volume of money
which was also without historical parallel
All other attendant circumstances than
these last have occurred in other historical
periods unaccompanied and untollowed by
such mighty disasters.
cit is suggestive coincidence that the
first glimmer only came with the invention
nf hi Ic of pVP
through which the scanty stock of precious
metals was increased in efficiency. 1t
needed the heroic treatment of rising
prices to enable society to relight and up
lift the almost extinguished torch of civil
ization. That the disasters of the dark
ages were caused by decreasing money and
falling prices and that the recovery of the
reform and the comparative prosperity
which followed the discovery were due to
an increasing supply of the precious
metals and rising prices will not seem sur
prising or unreasonable when the noble
functions Of money are considered. now
pass the book to Mr.. Horr."
81 desire to state" said Mr.. Horr, ''that
my friend has spent his whole time
answering something that I never men
toned or said anything about. merely
called his attention to the use of the pas
sage of scripture, which he has not fully
explained, by saying that the passage does
not mean what it says, that the word
which is translated babes really means
honest, disinterested persons, and then
he informs that he represents the
honesty of America. 1t may be that
there is some excuse for the use of
such a motto as that. 1t seemed to me at
the time little sacrilegious as he used it,
do not desire to criticize him for that, but
/ do desire to say for him that that motto
is not susceptible of the explanation he
now makes of it, The next quotation I
find, still before you get to the body of the
book, is this: All money is the medium
of exchange, but primary money only is
The measure of values.
II have stated my own position, and
would like Mr.. Harvey to tell me in
word what he means by primary money.
1t is not defined, as 1 can find, anywhere
in the book. What kind of money is
primary money? Am entitled to an an
swer?"
when you have finished and sat down,
Mr.. Horr, will go ahead" said Harvey.
81 submit that question so simple as
that which is at the basis of this question
should be answered as readily resumed
Horr. 81 will sit down and let you answer
it."
1.-THE question asked is a part of the
main argument" said Harvey, sin the
book, and it would be out of place for me
to answer this question now, and would
disturb the logical arrangement OF the ar
gument."
II have not succeeded in getting
much investigated" sneered Horr.
"H l did not understand him in his re-
marks when he laid down the positions
he was going to occupy, he, for
the first time in those remarks,
gave his definition of primary money.
/ submit to the reporters that he said
primary, or redemption money in the
course of the explanation. If l am right
then it is redemption money which he re-
fers to in this motto. If that is what he
means then 1 call his attention to the fact
that the statement itself is not true All
money is medium of exchange 1t is
trne that far, but primary money, or re-
demption money only, is not al
ways the measure of values. We