Word: gold
(lookup in dictionary)
(lookup stats)
Dates: during 1890-1899
Sort By: most recent first
(reverse)
...third speaker for Harvard was Fletcher Dobyns '98. He began by a concise and clear analysis of the question at issue, saying that the only question was as to the relative merits of the gold and the bimetallic standards. Any ratio which the negative could offer would fail. If the ratio adopted were 16 to 1, this would be an attempt to double the value of silver by government fiat. Whatever the ratio, business men would prefer gold to silver, because the former is certainly stable. Business domands certainty as to the future. How could it be shown that some...
...speech was frequently interrupted by applause. His chief point rested on the political disquietment which would follow the adoption of a monometallic policy by this country. The Republican party elected their president and maintained the principles of sound money last fall with the votes of those who disbelieve in gold monometallism and favor a bimetallic league. If then the Republicans should repudiate their platform they would at once arouse the flames of sectional and class jealousy. As a result the country at the next election would fall into the hands of the free silverites,- exactly what it was most desired...
There have been two great, undeniable evils under the gold standard-the destruction of the par of exchange between gold and silver-using countries and the fall of prices...
...facts to prove it; we have his word for it, but that is all." If it is true it matters very little to us for our exports to silverusing countries amount to but a handful. In regard to the second claim, that falling prices are a result of the gold standard, he denied that they are an evil at all. He then devoted the rest of his speech to a careful analysis showing that this, the fundamental claim of the bimetallists is without foundation. Fall in prices has resulted merely from an immense but healthy growth in production. The debtor...
...second Yale speaker, Charles Upson Clark, began by denying that the negative were urging higher prices; they merely wished steadier prices. The question was not of the relative merits of bimetallism and gold monometallism, but was solely as to whether the United States should at once and definitively adopt the single gold standard. This action, he maintained, would not restore but would destroy confidence, because it would be a surprise and would maintain the ills at present existing. The policy of the country for twenty years has been steadily tending toward international bimetallism. To change this policy would cause...