The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-17
GIANTS WAGE BATTLE
Continued from First Page.)

snail be eleven parts fine and one part
diioy- That was precisely as they had
1ecided before, that the money OF the
United States, being by the resolve OF
congress on the 9th day of July 1.S5, a
dollar shall consist of fine silver 1854
grains in each silver dollar. That is
the first establishment OF what the unit
should consist. Next: that the money
OF account 10 correspond with the divis
ION or coins, agreeable 10 the above re-
solve, proceed in a decimal ratio to the
forms and manner following, TO wit
don't forget il. They were organizing
that never had been known on the face
OF the globe-making money history. Is
that trivial? Why, it was the import
ant act OF that age. Why, it was the
basis OF the entire action in 1872.
EXPEDIENCY LEGISLATION
Mr.. Harvey-"The straits 10 which
the colonies were put between 1lI6 and
1850 when we, as d government known
as tie United States, went into operat-
Ion, were those of expedlency, but no
permanent system was adopted await
ing the adoption of the regular United
States congress; and il is TO the action
Of that constitution and the congress
that met in pursuance OF 1t that We
should, as educators upon this question
direct our attention. Alexander Hamil-
ton recommended two units, one TO be
made from gold and one made from
silver. Mir. jefferson at one time came
near yielding to the arguments of Mr..
Hamilton but the whole matter went
into the American congress at its sec
ond session and out OF the recommen-
dationSS and discussions that had been
made, the result was the enactment of
the law Of 1892, and section 8 of that
act is the one that settles this question.
What Mr.. jefferson recommended
for the unit was adopted and the stat
ute so reads and the gold coins are val
ued in that silver unit, and Hamilton
suggestion for two units, gold unit
and silver unit, was not accepted by
congress and only silver unit was pro-
Vided for in the act of 1892.
ALL TRUE, But THEN.
Mr.. Horr: Now all this talk OF Mr..
Harvey's is of little Importance. SO far
as l am concerned. What l say il that
when they passed that law they in
tended to establish bimetallism in the
United States. They did fix the silver
dollar as a unit of value. there is no
doubt about il. And they also fixed OF
what the gold coinage consisted, and
there were a number of units and then
they defined the ratio between the two
metals, consequently, when they fixed
the ratio 10 silver 10 l gold there We're
two standards, a gold standard and a
silver standard. We did not use the
gold standard up to 1884 at all. You can.
pass a law as to a standard and the
people can annul it in spite Of all the
statutes in the world. The people
adopt the currency they wish TO use.
and you cannot legislate them out OF
the habit either. They undervalued
gold. The gold dollar was worth more
under the first mintage than the silver
dollar, consequently we did have. and
he is right about it, the silver standard
in this country up to 1884. Legally a
man could pay any debt by rendering
the ten units of value in the gold coin.
but people did not tender it because the
silver dollar was the cheapest; they
could get ten silver dollars for less la
Dor, less everything. than they could
for gold. consequently the gold left the
country"
THE ADMISSION CLINCHED.
Mr.. Harvey: Il want to call atten-
ton to the fact that for several years
our side has claimed that silver was
fixed in 1892 as the unit Of value. con-