Word: par
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Dates: during 1890-1899
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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...
...Dorr '97, the second Harvard speaker, caused a laugh in rebutting MacFarland's point about the destruction of the international par of exchange. "He says it is so, but he brings forward no facts to prove it; we have his word no 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...
...opened the rebuttal for Harvard. His speech was a summary of the affirmative position. He said in part: We affirm that the United States should adopt the gold standard. This is our definite position and to it we would narrow the question. Bimetallism would cause a break in the par of exchange and would upset prices. It would not prevent the fall of prices. Prices fall because the proportional increase in production is greater than the increase of money. Under a double standard, money will increase proportionally as under a single standard. At best bimettalism would result in prices remaining...
...been made of late in getting the oars down to the catch and in turning back from the recover without pause, and the men are also controlling their slides more evenly. Mr. Storrow and Mr. Mumford will continue to coach until Mr. Lehman's arrival in the early par of next month...
...Free coinage of silver by U. S. at ratio of 16 to 1 would not raise silver to parity with gold. A. The legal tender quality alone will not keep silver at par. (1) This is disproved by (a) Case of present Mexican dollar; (b) Case of greenbacks during the war (Laughlin Rev. of Rev., Sept. '96). B. History shows that an increased demand for silver for use in coinage has not caused a permanent rise in the price of silver. (1) From '78 to '93 the price of silver has steadily fallen, though, (a) during that period...