The Holt County sentinel., 1896-10-09
Murphy's Pointers.
low We give few Of the plthy points

below We give Few or the plthy points
! made by Mr.. Murphy. in his speech De.
fore the Leauge club on the Goth ult:
Mr.. Miller said that we maintained a
,, party, between gold and silver ut ratio
OF Is to from 1892 to 1854. Ans
Parity means equality; and two kinds Of
money that are ON u parity must cir
culate together and have equal debt
paying aud purchasing power. THIS
was never true of gold and silver money
in the United States, either under a
ratio Of Is % or lG to !, under free
coinage. The silver men admit and
claim that silver was at premium
prior to 1873 and they know that gold
was at premium under the law Of
1872, therefore they:were not on parity.
They say that We produced mere sill
yer before than after 1873. Ans: This
10 not fact; but it is fact that we
coined into full legal tender dollars,
about seven times as much silver IN the
20 years after 1873 as We did in 81 years
before that date.
They claim this is battle between
the poor and the rich. Ans:-Yes, this
is battle between the poor wage-earn-
or and the rich silver specUlator, and
We favor the xage earner-it is battle
between the hungry office seeker and
the nOnest business man; ana we side
with the business man.
Mr.. James claims that gold and silver
became valuable because they were
used as money. Ans:--This is not what
history proves. Gold and silver were
used as ornaments and as offerings to
the gods aud to make idols of and to De
spread IN layers on buildings Of kings,
and on temples long ages before they
became usod as money. In those days
the value OF gold, especially was almost
ing value and beauty Of these metals as
we'll as their other intrinsic qualities
that induced our ancient ancestors to
use them as money. All ancient money
carried the idea Of value, az shown by
the use OF cattle, grain, slaves, furs.
skins, shells. copper and silver, and
finally gold. The history OF money
shows development, from the lowest
and most incoDyenient forms of prop.
erty: to the highest and most conven-
lent form that money has ever taken,
which Is gold-the money OF "all the
most enlightened nations Of the world"
Mr.. James said that demonstration
caused the fall in the price of silver.
Ans:-The increased production OF silver
together with its demonstration BY all
the leading nations Of the world tn. Sc
causes acting together broueh: down
the price Of silver.
Now can any fair minded or intelli-
gent person say that without decreasing
the production, which has been oae
principle cause Of the decline in the
price OF silver, and without the act ON
of the nations whose demonitization
chiefly assisted 10 this decline, that any
one nation can restore the price? To
illustrate. II it takes twelve-horse
power engine to pull load oue-way,
will good engineer put on a enc horse
power engine to pull the same load the
other way? Action and reaction are
equal in finance as well as in nature. No
scientific political economist claims that
silver can be restored by the action OF
any one nation. (See Eiy's Political
Economy)
They ask: Will not the legal tender law
make silver as good as gold? Ans: A
legal tender law can only be effective
where debts have accrued before the
passage OF the Law. In that case de-
preciated money by force Of law will
pay ss much debt as good money, and
thereby the creditors can he legally
OF may behalf OF their just debts,