Morris tribune., 1895-07-17
ON THE OTHER SIDE.

ON THE OTHER SIDE.
| Statement Made by Mr. Harvey at tn,
Opening of the Debate.
am here to defend the facts anG
principles in Coins Financial School
l am aware that the illustrations in
that book are great aid in presenting
clearly it's views. We find this true in
our schools. Many scientific works
rely largely on illustrations, and oul
newspapers find that illustrations make
plain many ideas that could not other
wise be clearly expressed, and yet am
heEe to defend orally those same prin.
ciples. expect to make good, in this
debate,
The Following Propositions:
! That silver and gold are the
| mouey of the constitution; that the
silver dollar was the unit Of value in
our coinage system in this country
from 1892 to 1878, just as the yard
stick was the measure of length. That
gold was measured in this silver unit,
and concurrent coinage given to it
(gold); that silver and gold combined
constituted the legal standard of value
in this county till 1868; silver measured
gold; the two together measured all
other property.
2. That the act of 1878 was surrep-
titiously passed.
8. That during the period 1892 to 1898
Ehe mints were open to the unlimited
coinage of both metals into primary or
redemption money, and that both were
treated as such. That during that
period people had right to have either
metal coined into full legal tender
money, and that the option was with
the debtor to pay in coins of either
metal
4. That this bimetallic system made
an unlimited demand for both metals
to be coined into money, increased the
demand for these metals, and so long
as this law authorizing anyone to coin
Bill grains of silver and % $40 grains
of gold into dollar, there was no one
willing to sell either for less than
dollar,
5. That the option to pay in either
metal caused the cheaper of the two,
metals to be used, and transferred the
demand from the dearer to the cheaper,
meta, and restored it's relative COM
mercal value. We are for both silver
and gold. We are called silver meIla
because we are defending the metal
that has been demonetized
6. That it is to the interest of the
United States to act Independently in
the remonetization of silver, at the ratio
to gold of 16 to l, without waiting for
the action of any other nation,
Z. That monometallism consists in
the use of the dearer of the two metals
to the exclusion of the other, as pri-
mary or redemption money. That mon
ometallism is an experiment on trial
for the first time in the history of the
world, and began with the period 1873.
That it is impractical and impossible
as stable money measurement OF val
ues; is not based on scientific financial
principles; is in the interest of the
money lenders, and against the inter-
est of the property owners and laborers
g. That the gold unit, as the meas
ure of values, with no concurrent coin
age, Or another metal to assist it in
performing the functions of primary
money, has caused the fall in prices, as
with 1879, when the worlds
prices OF property were measured in the
money mass Of both metals That all
prices of property and labor have de-
,lined accordingly as compared with
1872, except when held up relatively by
demand or short supply, or
combines and trusts, or special reasons
a particular service or prop
erty, That the average price OF all
production, except gold, will show this
lecline is adjusting itself to the god
standard. And that when we include
n labor the unemployed and time lost
oy those employed, there is fall in
wages of one-half as compared with |
1872. That labor is adjusting itself to
;he gold standard measurement of |
values.
8. That the decline in prices cover
ng period of 20 years has as a rule
made all classes of productive mercan-
lie and manufacturing business un-
profitable. That falling market COW
,ring long period destroys the pros
oective profits based on cost of purchase
md production and majority OF our
most astute business men cannot avoid
allure or loss of capital, under these
conditions
10. That it has worked hardship
md injury to debtors who, unconscious
# the causes that continuously reduced
he prices of their property, have con-
racted debts during these % years.
That this fall in prices caused sacri-
ice OF property to purchase the dollars
With which to Equidate these debts.
That this has caused the renewal of
Lebts, the contraction of new debts to
,ay old debts, and an enlarged volume
f ali debts. That this unjustly takes
rom debtor his property and empha-
ICES the Importance of a stable money
Measurement of values.
IL. That in the end no one is bene-
TIED by fall in price but the money
ender, the owner of money and se-
urities payable in money, fixed in-
ONES.
IL, That the foregoing facts and
onditions produced by a change III
ur money measurement of values, will
n. 4 - IL