The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-30

the value, but the making or new use
and new demand for it. If at the next
general election 2 bimetallic congress
should be elected, the rubicon would be
passed the next day. Silver would at
once begin to appreciate and gold de-
preciate and they would be at a parity
before the meeting of congress ended, as
the greenback dollar became equal in
value to the gold dollar before the re-
sumption act came into force.
Mr.. Horn. resuming, reiterated the
statement that size had nothing to do
with value. A diamond worth $5,000,-
900 could be put into quaifs egg.
Mr. Horr then entered his enumera-
ton of the classes of people who, he de-
clared, would be ruined by the cheap
ening of the measure of value. They in
cluded laborers, clerks. railway en-
ployes, domestic servants, janitors, and
scrub women, skilled laborers of all
sorts, agricultural laborers, miners. and
the like, in the aggregate %, 1861 in
number. In addition to these he spoke
for the pensioners of the government,
making a touching reference in doing so
to the empty sleeves of the veterans and
the black robed widows, in number
1000 600. Il was proposed to cut down
the pension rolls by destroying the value
of money in which they would be paid.
If this law was passed their pensions
must be doubled or the nation disgraced.
In addition to these, 4,712.459 people
had their little savings in savings banks,
whom it was proposed to defraud of one
half of their little accommodations.
Referring to the advance in the wages
of domestic servants, Mr.. Harvey said
that since the demonstration woman
had been forced to work for her living
when the fathers and brothers were out
of work. This had reduced the number
of women available for domestic SER
vices and wages for such services had
remained stiff or advanced.
Taking up his argument Mr.. Harvey
said that under free coinage gold would
decline while silver and everything
would advance. It was claimed that it
silver WAS granted free coinage our Sc
| curities would be thrown over. The rule
| was that securities were not thrown over
| on advancing prices. Gold was the arti-
! Gle to be rid of, for it alone would de-
| cline, he declared. Mr.. Harvey asserted
the demands of business in this country
would absorb all of the silver available
| for coinage If all of the gold and sill
YER in the world were sent to our mints
| for coinage it would be to the benefit of
| the United States and the injury of the
rest Of the world. Money in circulation
made business he said, just life does
not make blood, but blood makes life.
Mr.. Horr said the savings bank depOs-
| itors had $1,712,O00.000 on deposit which
| it was now proposed 10 cut in two. Build
! ing and loan associations had 1875, 900
depositOrs with an aggregate of 1926. S52-
| QUO due them. In addition to these were
the trust companies, life insurance COM
| panies aud state banks, all of which were
| to be allowed to pay in deprecated
money. And the money of the products
| of every man and woman in the United
! States was to be halved for the benefit of
! 10000 silver men. Why their output
was worth half as much as the eggs
! yearly laid by the hens of the United
| States and was about equal in value to
| the peanut crop. But the worst feature,
| he asserted, would be the destruction of
| all credit 1t would bring about the
worst panic the nation ever saw. The
paralysis of business woald be complete,
| for SO per cent of the business of the
world was done on credit
| Mr. Harvey replying, said thousands
| of men had been financially wrecked by
| their inability to keep their life insur-
ance policies. He declared there was
! one worse crime than that of 1873. and
that was of the man who claimed the
defenders of silver meant reputation
| He thanked Mr.. Horn for the illustration
| az to the small amount of silver in the
| United States. That was the claim of
the silver men. There was no danger
but what the demands of business would
| absorb it. This nation could take all of
| the silver which the nations of the world
would bring to US in exchange for pro-
ducts in a single year. We could repro
duce those products aud ask them to
| come again. We could thus absorb all
the silver of the world, if necessary. The
history of nation showed that the more
| primary money it had the more prosper
Gus it was. AS long as the I uited States
could make an unlimited demand for sill
yer at fixed ratio, the holders of silver
would not part with it for any less. 1t
| would give US the trade of the silver-us-
ing nations of the world and the control
( of the commerce would be transferred
from London 10 New York. 1t would in
crease our trade with the gold standard
nations of Europe. through our control
of the products of the silver standard
! nations.
Mr. Horr in turn said he spoke before,
not of the quality CT the silver in the
| country, in comparison with eggs, but of
the amount of silver. There was a con-
slider BILE difference in the staying quail
ties of silver and of eggs. The trouble,
Mr.. Horn declared, was that with free
| silver coinage gold would leave the
| country and our business would be upon
basis different from the rest of the
world He argued that there was enough
gold in the world for the transaction of
the 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 increased production of
Africa, Russia, India and the United
States, and the opening of new and rich
mines. Since 1850 the supply of gold in
| . hod HOv
81 900, 100000 to over $4,000, 100000
with indications of continued rapid in
crease. New processes and new mechan-
ism, he declared, were being developed
rapidly to cheaply furnish the gold cure
for Dir. Harvey's silver jimjamE
Mr.. Harvey said that the more rapidly
the blood coursed through the body, the