Word: moneyed
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Dates: during 1890-1899
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...Youngman opened the debate for Harvard. He showed that no presumption could be raised against the negative either by history or by authority. He said that the negative did not defend flat money, but legal tenders convertible into gold. He closed by saying: "I have cited some of the most eminent authorities in favor of the government's supplying the country's minimum of paper money. I have called attention to the parallels of the uncovered notes in three of the soundest currency systems in the world. I have referred to the remarkable success of our own greenbacks...
Congress in issuing legal tender notes has given us practically flat money, the evils of which are only too well known. For fifteen years our confidence has been undermined by this constant flooding of the currency. Until the legal tender notes are retired confidence can not be restored. We must draw a sharp distinction between the functions of a bank and the true duty and business of a government...
McElroy was the second Princeton speaker in rebuttal. He attacked the instance cited by the negative, that England had successfully floated paper legal tender, and pointed out the danger, under the present system, of persuading the public that a government can create money. He then showed that the present notes are not actually redeemable, and quoted as an example a rebuff experienced by a Baltimore company trying to redeem notes at Washington...
...TOWNER, Sec.ALL Harvard Union, Forum and Freshman Debating Society men who desire to attend the banquet following the debate must hand their names with the necessary money to me before Wednesday night...
...LITTLE, JR.ALL Harvard Union, Forum and Freshman Debating Society men who desire to attend the banquet following the debate must hand their names with the necessary money to me before Wednesday night...