, 1896-09-21
MIR. GILLETTE'S ADDRESS

Mr.. Gillette stated in opening that
he did not suppose that the discussions
of the evening would settle the political
questions of the hour. because of the
fact that a diversity of conclusions
will always be arrived at from the same
premises. No W people see the ques-
tiOns of the hour alike, even though
they obtain their information from the
same source. Further han this, if the
paramount questions of the hour are
to be settled in good faith. and in a can
did. honest ann every person must
decide largely for himself according to
mis- convictions. The welfare of the
nation at the present time. depends
largely on the degree of fairness with
which we consider matters relating to
the nation. If we are to be guided
other,an if we build up theories which
have not the truth for their basis. it is
only Il matter of time until the nation
falls.
In Coins Financial School, it is
claimed that a redemption money is one
that a debtor can compel a creditor to
take in payment of his obligation. The
silver people claim that gold at the
present time is the only money of re-
demption. The speaker claimed that
according to their own conclusions, and
according to the provisions of the con-
stitution of the United States, there
are many eases in which a debtor can
not compel a creditor to take even gold
If two men enter into a contract to
or CannO either one claim that the one
who refuses to take even gold in pay
ment will lose his money. Any con-
tract that is lawful when made, cannot
be altered by any state statute, for the
constitution of both nation and state
prohibits the passing of a law that
will impair the obligation of contracts.
The new coinage law of this country
states that national debts shall be
paid in coin-gold and silver-unless
otherwise specified in the contract. If
the government has entered into a con-
tract where it is specified they shall
pay a debt in gold, they cannot them
selves make a law to alter it.
Referring to the practicability of a
double standard, the following illustra-
ton was used: We will suppose that
it were possible to have such a thing,
and that we already have it. The sill
yer man claims that silver was de-
monetized in 1873, and that one half
of the currency of the nation was
struck from our monetary system
thereby. To show how this would af-
feet the values of property. the instance
Of two lots and blocks was taken. one
on each side of the street-granting
that we have a double standard. and
that II lot and block is worth 81. 900
in silver. and the other $4,000 in gold.
Now if silver should be struck from
our coinage. would hat fact affect the
value of that property which was val
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not affect it in the least, and there
would simply be a change of standard
as the result. The decentralization of
silver would not affect the value, be-
cause gold would simply become the
measure of both properties, and the
value would remain the same. But it
is denied that silver was struck from
the coinage of the country in this man
ner. The silver people direct their COM
plant to the silver dollar. Why in
1878, at the time of the resumption of
specie payment, there was as much
money in the country in dimes as there
was in silver dollars. And what is to
be said of half dollars and the minor
coins? Was ever their value altered?
There is at the present time twice as
much silver extant in the minor coins
as there is in the silver dollar, and they
don't claim that the value OF that has
been altered in any manner This fact
in itself will invalidate half of their
argument.