The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1895-08-15
disclosed by the whole debate. AS token

the supreme court OF 1850 was under the
Influence of the Shareholders A test case
would now probably result In a Dred Scott
decision. do not mean to express preju-
dice, but in view Of the events of the last
two years I canOnt help but believe that
official despotism has already set in, and
that most of our public officials are now
unconsciously the willing servants of the
money lending power. If a majority OF the
supreme court are thus infected. as fear,
it could not take the broad statesmanlike
view Of this question that Is required.
Second-That the silver dollar was the
unit of value in our coinage system nxeo
by the act Of 1902 Mr. ao orr, ADMITS nrt 'h's'
Third-That silver and gold both We're
the measures Of value Of all other property |
until 1879. and the debtor had right to
nav In either metal. See Mr.. Horr's an
swer to Mr.. Motsinger on page 1oo.
Coinage of Dollars.
Mr. Horr stated that Jefferson did not
stop the coinage Of silver dollars IN leoo
and direct that all silver seeking the minus
be coined into 5O-cent pieces and less be-
cause Of the scarcity OF small money, as
stated in the SCHOOL" but virtually re-
coded from this claim, on page 144. The
exportation Of silver dollars was not on ac-
count Of a premium on silver over gold,
but because our silver dollars circulated
as money in other nations where their
familiarity with the dollar would cause IL
to do so, whereas they were not familiar
with our fractional coins, and thus the
| latter more readily stayed with US.
Mr.. Horr said that when gold or silver
| was the unit the quantity in dollar could
| not be worth either more or less than a
dollar, more or less than itself, and criti-
| cized my statement in the ''SchOol that
it could be worth more l passed 1t at
| the time as 1 did many other things that
| nod No substantial hearing on the subject
| under discussion. 1 refer him now to re-
| cent market quotations in New York, when
gold bullion was selling at small!
premium, which was accounted for at the
| time by purchases made by gold syn
| dictate to prevent gold from seeking the
minis. I also refer him to the silver unit
1 gave him, the old coin dealers quotation
on which is 81.
Mr. Horr's frequent references to a
| change in the ratio prior to the formation
of this government is answered by this:
| That this change was not to make less
| money, but to make more money. In no
| instance is it known that silver was dis
turbed by increasing the size Of the coins.
These changes were made in the gold coins
| and were made to make more money
When these changes were made in the legal
ratio the commercial ratio soon conformed
to the legal ratio.
=. If Mr. Horr had followed me in the
dicated by the book were discussing I
would have been enabled to furnish data
more fully and justifying points in the
School attacked by him. And I had SO
intended but after the discussion of the
crime of 1873 he seemed to wholly abandon
the regular order Of debate and went to all
parts Of the "School," and at one time
went to another book I had written, Cup
to Date" and hurled propositions at me
that were clearly out Of the regular order
Of the debate. This required me to use few
words in the many brief answers that
made to him. I did so because / did not
want his statements to go wholly I'M
answered at that time and risk losing an
opportunity to answer him fully. I would
however, have answered all of them fully,
as 1 did some of them afterwards, if he
had let them come in their proper order
Regarding Debts.
, One Of these topics was debts The pub
lie knows how l abbreviated my answers.
can only say now that it is admitted by
the other side that our long-timcd debate,
including national, state, municipal, cor
porate and including farm and home mort
cages, amount in round figures to SIC, 1000,
: 100000 1t is also admitted that this does
not include current business accounts and
notes, nor the enormous sum that hangs
over the army of debtors who have gone
| out of business since the repeal of the last
bankrupt law, anu IldC sui De "ltulI
2 the statute of limitations. Neither does il
: include debts due from individual to indi
t viduas that are not record and cannot
: be classed as debts coming under the heat
> of business or traders debts. Nor does il
include debts coming under the followin:
S heads: paWnbrOkers, chattel mortgages
Y partial payment sales, maritime debts, over
o drafts, judgments and taxes
: If had had time in the debate would
n have justified by detail and with authoritie
d the $40 900, 100000 at which I had estimate,
the aggregate Indebtedness Of the people o
the United States.
Labor Saving Inventions
o would lessen the necessary toll of men, an
J., was a promise of a day to come when
v with little labor, all would be provided 70
=. and humanity whole would be benz
:, ited Has it had that result? All will al
" swer that 1t has not. The lines Of demarks
ss ton between the rich and the poor ar
3 more marked than ever, and the percentag
n Of people who devote all their time to
=. struggle for existence is greater now tina
a at any time known to modern history
r. This will not be denied by any but til
n selfish few whose wants, being supplied
know nothing of the wants of others.
r. We are sufficiently advanced now in th
~ respect to provide all the people Of til
- world with the comforts of life by on
J.. hours work each day by each individual
70 while the remaining hours not devoted I
"a sleep would be used in the promotion
10 human happiness and the advancement
a the human race. That the passageway to
"a new era is blocked by a defect in our civil
cation should be admitted by all.
Id A Commercial Age,
le where inventions. education and all form
at of human skill and ingenuity are made
>, promote the personal ends OF men or cor
le binations of men. Such an age promot,
's selfshness in all things It follows that
r. is not only lawful but desirable to mono
~ olize to ones self property Of any and q
8 kind, no matter how unnecessary it m;
ne be in promoting the real comforts of IL
at person in possession. In all such instance
H. it is held in utter disregard to the disco1
torture or wants Of others. To own a far
lie which one, with reasonable assistance, C:
Of til and beautify. make grand and refin'
e- with the work of genius, is the cviliZatit
Is of humanity. TO own thousands of acre
st as does Lord Sculy in this state, inhabit
tic by tenants whose labor supports him
IT. riotous living is law born of property
er terests and rot of humanity.
Die If this eru Of selfishness that made
ST. possible for selfish men, wise in their oy
intere st, to demonetize silver and increa
the value of their holdings. as measured