St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-12

added that the country had good
cause to lament it's condition when it
could no longer rely on the honesty
and fairness of it's newspapers. This
sentiment was loudly applauded.
Continuing, he said: II have investi-
gated this question solely with view
of getting the truth, and if we can
get the editors to go at it in the same
spirit,
THE COUNTRY IS SAFE.
He next referred to the act of 1878,
known as the BlandAllfson act,
which he characterized as the worst
piece of legislation ever passed in the
United States. He said there never
was much an opportunity for the
gold standard men in all their
schemes, as the Bland act.
There is a constitutional provision
that no law shall be passed violating
the terms of contract, and the great
theory of the gold standard men was
that congress would repeal the law of
1873 and restore silver, but they wanted
to do something to make it unrepeal-
able, and they said let us proceed to
sew them up, let us make all of our
contracts in gold and have legislative
authority for it. Creditors all over the
country demand their money in gold.
The money loaner hands out note
payable in gold, and not one man in one
hundred notices that when he signs 1T,
Your municipal bonds are payable in
gold, as are your railroad and corporate
bonds. Ninety-five per cent of the
bonded Indebtedness of municipalities,
corporations and private individuals
are payable in gold in this country.
"Fellow citizens, this is serious
question. Have you with gold alone
enough money in this country? With
the decentralization of silver gold alone
has become primary money in this
country When you take away from
silver it's unlimited free coinage you
have taken away the demand for 1t.
We all know that supply and demand
regulate the commercial value of all
property. Congress provided in reso-
luton that every dollar should be as
good as every other dollar. That was
the financial policy of the United
States. 1t should be, but how are you
going to make it so except by making
gold stand behind the weaker metal,
redeeming silver with gold. You at
once perforce make silver token money
when you drive the commercial parity
of the two metals apart. Any business
man understands when you take the
demand away from a thing that, to
the extent of the removal of that de-
mand you change it's exchangeable
value, and thus silver was done for.
THE UNIT TRANSFERRED.
.eNJo+ onlv tho rnit was transferred,
but the minis were closed to silver
while being left open to gold. 1T was nc
wonder the commercial value of the
two metals separated.
1--WE all understand now that gold
is the primary money. We did not
understand it for a great many years,
but we do now.
1.-THE uneasiness of Mr.. Cleveland
and the gold-standard crowd for the
monthly coinage under the Sherman
act was that we were piling up more
token money on top of the gold. Sill
yer certificates issued in purchasing
silver bullion under that act meant
more credit money to be redeemed in
gold.
'.Now, as to the quantity of primary
money for the twenty-one years prior
y
sequenf to- that period. For the
twenty-one years prior we coined in
silver primary money s65, 600, 000, in gold
since 1873 we have coined of primary
money 1851, 100000, all in gold. We have
coined silver, but not as primary
money. The average population of that
twenty-one years is 100000, as
hn
years prior to that period.
There is a necessity for more
money I claim it is more primary
money that is needed
Mr.. Harvey then told of the in
creased demands for money by great
railroad and other corporations, say
ing the receipts of the Pennsylvania
railroad are now annually more than
the receipts of the government of the
United States were in 1860.
He said it was a shame that this
great republic should have to depend
of its financial troubles, and asked if
stronger proof were needed to con-
vince any man that there was
CORNER ON GOLD.
The monetary unit was founded upon
metal as shifty as quicksand, that
had been adopted contrary to the wis
dom of the fathers of this republic.
Il want to say to you gold men that
you have got US in the fix of depending
upon a foreign money broker for the
financial maintenance and existence
of this country
1.-THE silver question" he said, would
be the issue in 1896. The question
must be studied and met. cit is not
confidence and credit that we want in
order to borrow more money, but it is
money to pay the debts that we owe
that we want. We must have rising
prices restored in order to make 1t
possible to pay off the Indebtedness.
The people should own their homes
The speaker next told of a great
number of rich men in America, who
owned countless millions of wealth
which they had gathered because of
the ignorance of the masses, and
dwelt eloquently on the pathetic
spectacle of man whose self-respect
had been lost in the endeavor to make
a living, which was denied him by
conditions which he was powerless to
control. Mr.. Harvey will lecture again
tonight on the humanity side of the
money question.