Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-02-24
FOR THE MERRICk MEDAL
The Money Question Debated at George
town College.
Arguments For and Against Retire.
of Legal Tender Notes.-The
Affair u Success.

The annual debate for the Merrick medal
by the members of tho Philodemic Society
of Georgetown University was held Satur-
day evening at 8 o'clock, in the CASTOR
Memorial Hall. The occasion brought forth
perhaps the largest crowd of any OF the
previous debates of the society. Every seat
was filled, and most of the standing room
was occupied. The audience was mainly
composed of members of the fair sex, and
among the number were goodiy delega-
ton from the Academy of the Visitation.
The hall was prettily decorated with the
national colors and multi-colored bunting.
and under the brilliancy of the electric and
gas lights the scene was lively and pretty
one. Fastened to the wall, in the rear of
the stage. with graceful folds, were two
Immense American flags, extending the en-
tire width Of the large hall. the center
piece connecting the emblems being the
cOlors of the university, producing con-
spicuous, yet pretty effect.
The question under debate was, RE
solved That Congress should provide for
the speedy retirement. and cancellation of
the legal tender notes" The judges were
ASaph Hall. LID. Judge William G. Rob-
inson, LID. of the Catholic University of
America, and Mr.. John S. Seymour. COM
missioner of patents. Francis Borbia Nc
Dermott of the class of 90 was the chair
man of the debate, and he made a few in
troductory remarks. He explained how the
medal had been donated to the university.
and for what purposes, giving a short ac-
count Of the donor of the medal. the late
Richard r.. Merrick, whose portrait was
conspicuously displayed on the stage. The
medal, the speaker said. was the most
valuable and most sought after of any CT
the prizes of the college.
The Opening.
The affirmative side was opened by Rob-
ert Dick Douglas, class of '9G, of North
Cow l{y,o noe CT
ing the present condition of affairs. The
legal tender notes of the government were
payable in coin, according to their face de-
seription. he stated. but the officials had
for years Interpreted the word coin to
mean gold, and that according to custom
upon presentation of these notes to the
Treasury Department their value in gold
was given. Though these notes were non
interest-be airing, they placed the govern
ment in debt more than If they We're to
keep up the reserve in the Treasury De-
Eartrlent, according to law. to meet their
payment. He spoke of the necessity of
bond issues to maintain this reserve, and
how the government had to go begging for
gold
Were these notes redeemed and Cancelled
there would be no obligations to keep up
gold reserve, and yet to pay the value If
the notes in silver would raise the parity
tetween the two metals. something which
the iinancIers are endeavOring to avoid
According to the law, upon redemption
these notes can be reisSued and again
thrown out upon general circulation and
thus, without some act of Congress their
circulation would go on forever His ad-
dress was full of Information and we'll de-
hvered. and made quite an impression.
In Opposition.
Charles Francis Valentine of the class
of SO, of Maine, took the negative side
He held the circulation of the legal tender
notes TO be just. The financial trouble was
not due to their redemption or the MAIN
tenance of a gold reserve to meet their
payment. 1t was set forth. but due entirely
to the efforts of the politicians and fnan-
clers TO maintain the parity between gold
and silver. legal tender note is worth
its face value. he said. in every section of
this country and in all other parts of tine
world. and that is the best indication of
the financial credit of a nation This
being the case there should be no reason
why the legal tender notes should be re-
tired His address was well wordcti. and
showed careful forethought in Its preparl-
ton.
Closing Pro and Con.
The closing affirmative address was made
by Francis Edward Slattery of the class of
rs. Of Massachusetts. He urged the re-
tirement of the notes on practically the
same grounds as Mr.. Douglas, and if legal
tender notes were to remain in circula ton
he recommended that they be issued by
the national banks, under the supervision
OF the Treasury Department. This is
done with success in England, Germany
and France. and there is no reason why
the case should not be the same i:ere.
THESE notes, ne said, were issued during
the war, under the pretext of their i'm
mediate use for general circulation. For
war times their circulation was all right
but not SO in times of peace. The govern
neRt, he asserted, was violating conf
Gence by still issuing such notes
John Francis OBrien of New York closed
the negative side, and his address was ex-
ceilent The gold of this country, he main
tanned. was not used entirely in redeeming
the legal tender notes. but most of it went
for export duty. The balance of trade has
been AGAINST this country. and the differ
ence has to be made in the universal
money of the world, and that i; gold. If
the ports of trade were closed and the gold
put IN the treasury, it would require but a
snort time to demonstrate that legal tender
notes redemption did not create a scarcity
OF the precious metal.
Other Features.
The musical part of the program was ex-
cellent. The Mandolin Club, the Banjo
Club and the Glee Club appeared during
the intervals and delighted the audience,
| an encore being given in each Instance.
Upon an encore the mandolin and banjo
| clubs came out together and rendered sti,e
new Georgetown University March, com
posed by Mr.. Callaghan, which is full of
hveiy airs and has an excellent swing. The
work of the Glee Club was particularly
good. and showed excellent training.
The committees of the debate were az
follows: Arrangements-F. y. Delany, 81:
J.. G. Mcclure, &c; 3. +. Maler, '07; T.
WEIGH, 81: w. L. D. Higgins, ~: T. S.
Connolly, 81; F. J. Bowlin, 81; c. F. Cur
ley, ~; reception-O. Horsey. IT,, 's6 A.
J. Finke, '96; J. A. Devereux, 90: J. II.
Cassidy, 81; r. ]. Watkins, '9I; E. J.
Brady, 81: A. j. Tremoulet, %; I. NJ.
Pierce, 9S.
Two Missing Girls.
Fannie Thornton, the colored girl, thir-
teen years old, daughter of Mr.. Presley
Thornton, who disappeared from the home