Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-03
HARVEY rs HEARD.
Continued from FIN Page.

We are . credit people. There has
never been enough money in the
world to do acssh business. Ninety.
five per cent Of our business 10 done
on . credit basis. We are essential
ly a credit people, and the gold
standard has taught US that habit.
The fall of prices in the last go years
has been more than SO per cent.
What does falling prices mean 20 q
business man running through =
long era? It means the deprec;a-
ton OF profits. whereas without fall
Jog prices he would not have lost that
profit. He spoke Of the indebt-
edness Of the people, national, state,
county. city and corporate. The
speaker argued that IS . people We
are in debt t5O, O0O, 0o0 10 exces OF
assessed <aluation Of all property.
real and personal, in the United
States, and . continuation Of falling
prices that cannot be avoided under
q gold standard, can that the peo-
pie are not going to be able to pay
these debts. The rising continuous
In value of one metal and the fall in
prices consequent upon such . con.
ditiou, means bankruptcy of indus
tries, Of business. Of homes. Then
comes lack Of confidence to the pro-
Queer. then comes hoPelessness. then
despair, then di ssatisfaction. discord
aud commotion. Then comes riot,
then the civil militiamen, then the
government military. Then come
the people asking for a stronger
form tf government. Then comes
monarchy.
MI. Harvey showed the evils Of
tial relief. was in the end . greater
source of distress to the people than
the single standard. Instead Of the
debtor having the option the option
was transferred to the creditor, and
he chose the dearer metal. and the
dearer it grew the more he wanted
it. When you give the creditor the
right to dictate which of the two
metals he will &C ,ept he will demand
the dearer metal, and this forces the
commercial parity Of the two metals
farther apart. We must have all
money as foundation money, and not
. dollar has been added 70 the pri-
mary money since the act Of 1878,
aud M long as money is not founda.
lion money you cannot increase the
structure without weakening the SUI.
p~erstructure, and the more you add
to the structure under those condi.
lions the more you will weaken II
until it falls.
What Bimstauism Means.
Bimetallism does not indicate The
equal proportion OF the two metals;
it simply directs the right to uss
one or the other at the option Of the
debtor. As to the assertion Of fres
coinage driving gold out of circula'
ton, Mr.. Harvey wanted to know
where it was now. He termed thu
audience q representative body and
asked anyone present who had gold
in his pocket to hold up his hand
There were no responses. In . re
public. he went on to say, no sub
stance was lit for money that die
not circulate among the people Of
that republic. And debased as sill
yer had been by the aristocracy o
the country it vas still popular. IL,
then applied the same question as u
silver and found q diHeIen response
Mr.. Harvey took up the much
talked Of fact Of his going to his banl
and asking for gold Withdrawals
He said he went to his bank Ii
Chicago and asked for -. 500 in gold
giving his check for 1t. He was told
that he banks we're not payin,
out money in gold. He replied b,
knew that gold WAS not in circulation
among the people, but he had learne,
n Nv for the first time that il was no
in circulation among the banks. II,
was told nevertheless that he coult
get it Of the great redeemer at Wash
ington. He persisted in his demas,
for 1t in 2O-dollar pie es to be usct
as IN object lesson and ~thereupoI
the cashier told him he could get 1
for him as . favor on condition tina
hs would return il. He scceptes
il under these conditions, used IL Il
. number Of addresses in var.oul
cities. the last time being on u
Auditorium stage in Chicago. an,
then turned il over to the sub treas
1urer again. The gold was not in cir
collation. nov, the speaker said. 4
Is locked up in the vaults.
He took up the charge IS 10 th,
difficulty Of getting silver into circu
lation. saying thar il would com
mence to circulate the moment th
ore was dug from the ground. A. .,
the lack Of confidence - . result o
agitation no said no Gnancial systsu
is worth having that the exercise O
the discussion Of governmental pol
icy and constitutional rights will dis
turb.
ssssd Moasy - ApSsssA.
A. to GOLD being sound money b
declared it was merely . catch wor,
showing . shortage OF argument
We all want sound money; We wan
sound money such IS makes ever,
dollar the equal in itself Of ever,
other dollar. That 10 what timct
allism meaBs. But sound none,
under the gold standard mean tn
sound Of the a1ctioaeer's hammer
the sound Of the suicides pistol, tn