Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-03

10 no such thing - IN advsacsd or
advancing c~iviiizstioa Whsrs The M
jority Of people are tssants and not
the owners Of homes. The speaker
proposed 70 appeal 20 reason and not
% prejudice. - Prsjudics leads to
the enslaving Of the people. and rea.
son 70 the emancipation Of the people.
Money 10 the blood, 10 the life blood
Of civilization; IL 10 IN indispensable
necessity. and when . thing rises TO
the point Of necessity to civilization
il demands intelligent consideration.
Gold could not rise - Il nov has. 70
the point where IL threatens civiliza-
ton. II silver were In composition
with il. The vital principle Of BIZ
Ustsllism IL the right 70 use
either or both metals for coinage into
money. The principle Of bimetallists
10 the right to use either OF the
metals as principal or primary
money. Under the same great law
Of nature that gives us two eyes. two
ears. two lobes to the head. two legs
and twosarms. so the Law OF civiliza-
ton gave Us originally two metsls
to be used rs money. II was the
working out Of the same general Law
OF nature; q vas TO relieve the
strain on the other In the advancement
o! civilization. The essential princi-
pie 10 the right 10 use either metal 80
that one can relieve the other.
The expression, free silver. does
not imply that those favoring It's re-
storation ara for silver alone. - the
aim OF bimetallists. Silver 10 used be-
cause bimetallism In this instance IL
the defense Of the one that has been
demonitized end against which the
mints of the United States have been
closed.
fss Law Of ssppsy end Demand
The humblest citizen. Mr.. Harvey
commended. understands the effect Of
the Law Of supply and demand. The
speaker then ven into Q discussion OF
the relations Of the two metals OF
the bimetallic standard. From 1892
TO 1882 the worlds production Of sill
yer was % Of silver 70 81 Of gold.
and from 1852 Il 1873 the conditions
we're reversed. or were eS Of gold TO
81 OF silver. From 1873 TO the pres
ent time the production has been
about dollar per dollar. while from
1888 to the present time the produc-
ton ,.as been IS cents In silver TO 81
in gold. Notwithstanding this the
two metals have parted company in
commercial parity SO per cent BY
reason Of the act Of 1873. which
closed the minis and took away the
demand from one metal to the other.
Me-. Harvey said he would use
nothing but conceded facts in his
discussion, as there had been enough
Misrepresentation on this question.
The two metals had parted company
in commercial value 50 per cent
since 1873. whereas up to that time
they had occupied the same relations.
the fiuctuation in the two metals up
to that time being.ths oscillation aud
elasticity due to the shifting Of the
option by the debtor. Monometal-
lism vas srested as . ~one-lung sys-
TEN Of finance.
Available Supply Of the Two Metals.
1t Is conceded that there 10 t40.-
COO. 00O. 900 of gold ia the world
available for use both in bullion and
coin. All the gold 10 the world
available for money will go in the
cube OF % feet. IL could be set on
the stage without disturb ng the
meeting. All the silver In the world
in bullion and coin 10 expressed in q
like quantity Of tio. 600. 600, COO and
will 20 In the Gu be OF &C feet So
when the limit Of supply 10 cousid-
cred, the speaker maintaiued. Il is
the demand that Is the controlling
factor in fixing the commercial reis-
tions Of the two metals. The shift
ing Of the demand that had previous
ly rested upon both Of the metals
was placed upon gold by the act Of
1873 aud redemption 10 1879. and 90
the demand increased for gold. gold
raised in value. Under Q redemp-
ton system there are two
kinds Of money. One IL primary
money. and the other representative
money. Under gold. redemption
money means gold: under bimetai-
li.m it means gold or silver ss the
option Of the government. Under .
gold standard redemption money
means gold and oil other money Is
token or representative money. and
10 made - good IS gold only BY rss-
son OF that fact. Gold 10 nos our
redemption money. whsrsas before
it Vas both gold and silver. and
whereas the demsud vas for both
gold and . liver % the representative
money aud both were treated %
such. When you have more repre-
sentative money in . country than
there 10 redemption money there 10 Q
lsck OF confidence, resulting In panic.
You cannot have Q sound financial
system when there 10 Q scarcity Of
lei ution mooev In u...~.st-s a.