Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-07-17
money lenders and. sgains; the property

z. Ihit Inc S1tu unit rs tie EleaSure VI
values, with no concurrent. coinage of an
other metal to assist it in performing the
functions Of primary money. has caused
the fall in prices as compared with 1872,
| VIXEN the worlds prices CT property were
measured in the money mass Of both met
els. That all prices Of property and labor
have declined accordingly as compared
with 1872, except when held up relatively
combines and trusts, CT special reasons
affecting a particular service CT property.
That the average price of all production.
except gold, will show this decline in ad-
justing itself to the gold standard. And
| that when We include in labor the unem-
| ploycd and the time lost by those employed
there is a fall in wages of one-half as COM
pared with 1872. That labor is adjusting
itself to the gold standard measurement OF
| values. That the gold standard is con-
fiscsting the property of the people, and de-
prives labor OF wcrk.
9. That the decline in prices cover
ing a period of twenty-five years has
as a rule made all classes of productive.
mercantile and manufacturing business I'M
profitable. That falling nt9rket covering
q long period destroys the prospective pro-
fits based en- cost Of purchase and prcduc-
ton, and a majority Of our most astute
business men cannot dNOlu VI loSs
| Of capital under these conditions.
| 10. That 1t has worked hardship and
injury to debtors. who. unconscious Of the
causes that continuously reduced the
prices of their property. have contracted
debts during these twenty-five years. Tha:
| this fall in prices causes a sacrifice of prop
| erty to purchase the dollars with which to
| li1uidate these debts. That this has
caused the renewal Of debts; the contrac-
| ton of new debts to pay old debts and an
enlarged volume of all debts. That this
unjustiy takes from a debtor his property
and emphasizes the Importance Of stable
! money measurement Ofyaluo.
| II. That in tie end. none is benefited by
| fall in prices but the mcney-lender. the
| owner Of money and securities payable In
| money-fiXed incomes.
IL. That the foregoing facts and condi-
| lions produced by change in our money
| measurement CT values will impCverish the
masses of the people and points by reason
! of the disturbances it will produce to the
| overthrow Of the republic. That the free
! coinage Of both metals by this government
in the ratio Of 1G to will restre prosperity
! to this nation.
| Mr. Eorr-Before entering upon the dis
cussion proper desire to cell the attention
]
| this book is written.
Fir. Harvey-The School is allegorical;
| II rnarshals the opinions CT the two sides
1f this controversy. 1t puts in
| he mouths Of the gold standard advocates
heir well-known views fairly stated with
| which the country had been flooded up to
the time the School" was written.
| The fact that little boy In knee pants was
ihe instructor OF the men was supposed to
be sufficient to fix the story as a,legor;cal.
INF. Harvey illustrated by referring to
| kesop's Fables. Robinson Crusoe and other
books which though not actual fact taught
! great lessons. He also referred to Shakes
peare and to poetry in general, and con-
| cuded as follows: "If it is charged that
actual characters are used in the book
while similar books use fictitious charac-
tors, the answer is that the well-known
utterances and opinions CT these men are
used and the further answer that Shakes
peare used actual characters
Mr.. Herr desire to say that to me the
excuse is a very lame one l am somewhat
| familiar with ficticn, have heard of Shakes
peare before, but nowhere in the history of
all literature can you find another instance
CT man selecting his immediate neigh
! bors and putting words into their mouths
which they never uttered and then pub
fishing it to the world. He says
that he put into their mouths the words
they themselves would have uttered. l
have had that done for me so many times
in my life that know what it means. I
never yet had fellow state what l would
say if had a chance who got anywhere
near what l wanted to say myself. 81"
But now come to the motto of the book.
which is this: II thank thee, o Father, Lord
of heaven and earth, because thou hast hid
these things from the wise and prudent.
and hast revealed them unto babes"
| would like my friend to tell me why he
used that motto. Does he desire to init
mate that the kind Of finance which he
teaches IS something that babes will under
stand, but that people who know anything
will never be able to comprehend? Gap
plause and laughter). Is that his idea
=
Mr.. Harvey-Mr. Horr misinterprets the
meaning Of that verse. The word
babes" is intended to mean the pure Of
mind and unselfsh. 1t is in that sense
that it is used in the Bible, and means that
those pure of mind and unselfsh can see
clearly those things which the impure OF
mind and selfish cannot see or understand.
In carrying out the idea Of an IL
Illustrated 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. used only sufficient OF
the authority to establish the principle
TO be taught. and that space would permit
The authority used was the report of the
Monetary Commission appointed by Con-
gress in 1876. reported in 1877 and pub
lished in 1873. The copy used had the
date of its publication on the cover. and
that date was given in accrediting the
! authority. l now read from the repor;
the paragraph from which tie abbreviated
statement printed under picture in preface
was made. 1t begins with tire last two
lines CT page SO. and is as follows: eat the
Christian era the metallic money OF the
Roman empire amounted t. 81, SOC. 900, GOO
BY the end of the fifteenth century it had
shrunk to less than s20o. 200 900. During
this period & most extraordinary and bale
full change took place in the condition OF
the world. Population dwiadled. and com.
merce. arts, wealth. and freedom all dis
appeared. The people were reduced by
poverty and misery TO the most degraded