Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1895-08-10

%, 735, 661 in number. In addition ia
these he spoke of the pensioners OF the
govern nent, making a touching ref
erence in passing to the empty sleeves
of the veterans n the lack robed
widows, i'm number /, 200, 600. 1t was pro-
posed to cut down the pension rolls by
destroying the value of the money In
which they would be paid. IL this law
were passed their pensions must be
doubled or the nation disgraced. In
addition TO these 4,7s1.6 5 people had
their little savings In savings banks.
whom IL was proposed to defraud OF
one half OF their little accumulations.
Referring to the advance in the wages
Of domestic servants, Mr.. Harvey said
that since the decentralization women
had been forced to work for their living
because their fathers and brothers were
out of work. This had reduced the num-
Der OF women available for domestic
service and wages for such services had
remained stiff or advanced. Taking up
his argument Mr.. Harvey said hat UNI
der free coinage gold would decline,
while silver and everything else would
advance. 1t was claimed that II silver
were granted free coinage our securi-
ties would be thrown over. The rule
was that securities were not thrown
over on advancing prices. Gold was
the article to be got rid OF, for II alone
would decline, he declared. MIR. Harvey
asserted that the demands of business
In this country would absorb all the
silver available for coinage. If all tta
gold and silver I'm the world were sent
to our minis for coinage II would be TO
tho hann6f az the ITnifad Gtafas md the
injury OF the rest Of the world. Money
In circulation made business, he said.
just a. life does not make blood, but
blood makes life.
Mr.. Horn, resuming after a little badi-
lage, said that savings bank depositors
had SLIP, 600, 900 on deposit which It
Vas proposed TO cut In two. Building
and loan associations had 1.725, 900 de-
positors. with an aggregate Of $685.
2S2. 600 due them. In addition 10 these
were the trust companies. life insurance
companies and state banks, all Of which
were to be allowed to pay In deprecated
money and the money in the pockets Of
every man and woman in the United
States was TO Dc halved In value.
All OF this would be for the benefit OF
20, 900 silver men. Why their output
was not worth half as much as the eggs
yearly laid by the hens OF the United
States. But the worst feature, he as
serted. would be the destruction Of
hll credit. 1t would bring about the
worst panic the nation ever saw The
paralysis Of business would be COM
plete. for 9S per cent Of the business
Of the world was done on credit.
Mr.. Harvey, replying, said that thou
sands OF men had beer financially
wrecked by their inability to keep up
their life insurance payments. He de-
clared that there was but one worse
crime h a that of 1873, and that was
that of the mar who claimed that the
defenders of silver meant reputation.
He thanked Mr.. Horn for the illustra-
ton as TO the small amount Of silver in
the United States. That was the claim
OF the silver men. There vas no dan
ger but the demands OF business would
absorb 1t. This nation could TAX all
the silver which the nations OF the world
would bring to us in exchange for
products In a single year, and ask them,
TO come again. We could hus absorb
all the silver in the world. If necessary.
The history OF nations showed that
the more primary non a nation had
the more prosperous II was. AS long
the United States could make an
unlimited demand for silver at a fixed
ratio, the holders of silver would not
part with 1t for any less. 1t would give
US the trade OF the silver using nations
OF the world and the control OF com
merce would be transferred from Lon
don TO New York. 1t would increase
our trade with the gold standard ma
tions Of Europe through our control of
the products of the silver standard ma
lions.
Hr. Horn, in return, said he spoke
before not of the quantity Of silver
in the country In comparison with
eggs, but of the annual output OF sill
yer. There was a considerable diff
ference In the staying qualities Of sill
yer and eggs. The trouble, Mr.. Horr
declared, was that with free silver
coinage, gold would leave the country,
and our business would be on a basis
different from the rest OF the world.
He argued hat there was enough
gold in the world for the transaction
of legitimate business. and the annual
output OF the mines OF the world was
large enough to meet the increase of
the worlds business. In proof of this
he quoted the increasing production of
Africa, Russia, India, Australia and
the United States and the opening of
new and rich mines. Since 1850 the
supply Of gold in the world had in
creased from about 81, 000, 000. 900 to over
Sl2, 900, 900. 900. with indications Of a
continued rapid increase. New pro-
cesses and new mechanisms. he de-
clared, were being developed rapidly
to cheaply furnish the gold cure for
Mr.. Harvey's silver jimjams.
MI. Harvey said that the more rap
idly the blood coursed through the
body the more blood was needed; so the
higher the civilization, the more rapid
the exchange Of commodities, the more
money was required. Any one who had
occasion to look into h question of
the reports Of the output of mines
would not be startled by Mr.. Horr's
big figures. He then quoted the sta
tistics Of India under the silver stand
ard, showing a steady growth till the
balance Of trade turned In favor of
1873. He declared that their use of
silver and our comparative disuse Of 1t.
had given an impetus to India, Japan
and Mexico. He declared that he was
In favor of independent action by this
country because 1t vas righting a great
wrong; because this nation should be
independent Of Europe, because We
should be free from tribute paying I'd
Great Britain, and because u power
is sufficient to compel Europe to come
to our standard in order to do business
with US. International balances were
settled by weight. anyhow. There was
no such thing as international money.
Mr.. Horr. resuming. said that there
was no such general ack of prosperity
In his country as Mr.. Harvey had
claimed. Mr.. Horn said he spoke from
the result of the actual contact with the
people OF the country. Since 1873 he
had travelled over SOC. 900 miles. cover
ing thirty-one states. 1t was a fact that
no people on the face of the earth had
been as prosperous az the people Of the
United States since 1873. Why. during
the last year these people whom mr..
Harvey said were on the verge of
starvation had paid over 49, OO. 900 for
500. 900 bicycles. These were not strictly