The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-17

lustrations make plain many ideas that
could not otherwise be clearly expressed
same principles. 1 expect to make good in
this debate the following propositions:
''First-That silver and gold are the
money of the Constitution; that the silver
dollar was the unit of value in our coinage
system in this country from 1892 10 1873. just
as the yard stick was the measure OF
length; that gold was measured in this sill
yer unit and concurrent coinage given TO 1t
(gold); that silver and gold combined con-
stituted the legal standard of value in this
country until 1873. Silver measured gold;
erty.
''Second-That the act OF 1878 was sur
"Third-That during the period of 1872 to
1873 the mints were open to the unlimited
coinage of both metals into primary or re,
demption money, and that both were treated
as such; that during that period people had
a right to have either metal coined into full
legal tender money. and that the option was
'Fourth-That this bimetallic system
made an unlimited demand for both
metals to be coined Cor into to money money
and so long as this law, authorizing any
one to coin 37lA grains Of silver and g 2-l0
grains of gold into dollar. there was no
dollar.
.'Fifth-That the option to pay in either
metal caused the cheaper of the two metals
to be used, and transferred the demand
from the deayer to the cheaper metal and
restored its relative commercial value. We
are for both. silver and gold. We are called
metal that has been demonetized.
"Sxth-That it is to the interest OF the
United States to act independently IN 1s ths
OF Is TO /. without waiting for the action OF
any other nation.
';Seventh-That monometallism consists in
the use of the dearer of the two metals TO
the exclusion of the other as primary or re-
demption money; that monometallism is an
experiment on trial for the first time IN the
history of the, world and began with the
period of 1873; that ii is impracticable ana
impossible as a stable money measurement
of values; is not based on scientinc nnah-
cial principles; is in the interest of the
money lenders and against the interest Oh
the property-owners and laborers:
ure of values. with no concurrent coinage
of any other metal to assist IL in perform
ing the functions of primary money, mas
1872, when the worlds prices of property
were measured in the money mass OF Dotn
metals: that all prices Of property ana IA Ia
with 1872, except when held up relatively
by increased demand or short supply or
combines and trusts or special reasons al
fecting a particular service or property'
that the average price of all production,
except gold, will show this decline is ADJUST
ing itself to the gold standard. and that
and the time lost by those employed, here
is fall in wages of one-half as compared
with 1872: that labor Is adjusting tselI 10
the gold-standard measurement OF values
"Ninth-That the decline in prices cover
ing a period of twenty-five years has, as
a rule, made all classes of productive mer-
camille and manufacturing business unprof-
liable. that falling market covering a
long period destroys the prospective prof.
its based on cost of purchase ana produc-
ton, and a majority of our most astute
business men cannot avoid failure or loss
of capital under these conditions.
"Tenth-That 1t has worked hardsnip
and injury to debtors, who, unconscious or
the causes that continuously reduced the
prices of their property, have contracted
debts during these twenty-five years; that
this fall in prices causes sacrnce OF
property to purchase the dollars with
which to lquidate these debts; that this has
caused the renewal of debts, the contraction
of new debts to pay old debts, and an en-
larged volume OF all debts; that this UNJUST
ly takes from debtor his property ana
emphasizes the Importance OF stable
money measurement of value.
"Eleventh-That in the end no one is bene-
lender the owner of money and securities
payable in money-fixed incomes.
'Twelfth-That the foregoing Facts ana
conditions produced by change in our
money measurement of values viii impover-
ish the masses OF the people ard points,
by reason of the disturbances II Will pro-
duce to the overthrow of the Republic.
.sTo all unbiased men and those who will
lay aside their prejudices during Their read,
ing of this debate, expect to make good
all of the foregoing propositions. Every
fact i'm the school that Mr.. Horr does not at
tack / shall take for granted that he ADMITS
its truth / am now ready 10 proceed in The
and as contemplated by the rules OF the de-
haf "a