Brief for the Affirmative:

E. C. CAMPBELL and F. T. HAMMOND.Question: "Resolved that the Silver Act of 1890 was a wise measure."

Best general references: Annual Encyclopedia, p. 232; Report of Senate Committee on Coinage, 51 Cong., 2nd Session, 1891; F. W. Taussig, the Working of the New Silver Act, in Forum, Oct. 1891, F. W. Taussig, the Working of the New Silver Act, in Forum, Oct. 1890, Forum, March, 1891; Silver as a Circulating medium, Forum, Nineteenth Century, vol. 28, p. 309; Nation, 1890, passim.

I. Some Legislation was necessary. - (a) There was a demand for more currency caused by - (1) Increase of population and business: F. W. Taussig in Forum, Oct. '90. - (2) Retirement of bank notes: Speech of Mr. Conger, Cong. Record, 1890, p. 5652.- (b) Act of 1878 was inadequate: Sherman in Cong. Record, 1890, p.5614.

II. The act was the best measure offered for the solution of the money problem. - (a) The House Bill, proposed bullion redemption: Pub. Opinion, June 14, 1890. - (b) The Senate Bill was a free coinage measure: Nation, June 19th, 1890.

III. The act does not put the country into a dangerous financial position. - (a) It is based on the act of 1878, and is therefore no untried innovation: Forum, Oct. '90. - (b) The coin is a substitutionary currency. - (c) It does not cause inflation: Nineteenth Century, Vol. 28, p.317.

IV. The act accomplishes important beneficial results. - (a) It eases the money market. - (b) It does not impair the gold standard: Speech of Mr. Conger, Cong. Record, '90, p.7090.

Brief for the Negative:

F. C. CHAMBERLAIN and P. L. HORNE.Best general references: Professor Taussig, in Quar. Jour. Econ. IV, 29; H. White in Quar. Jour. Econ. IV 397; Nation, July 23, 1891; Nineteenth Century, XXVIII, 309; Forum, IX, 292; Forum, Oct. 1890; Cong. Record, 51st Cong., passim; Coinage of gold and Silver. (Pamphlet.)

I. The bill is defective in detail. - (a) It provides too large an increase in the circulation: Forum, Oct. 1890; Quar. Jour. Econ. April, 1890, p. 314; Coinage of gold and Silver.- (b) It adds annually to the circulation nealy $60,000,000. - c) Not more than $30,000,000 is needed. - (d) The provisions of the act are too inelastic: Report of the Sec'y Treasury, 1889-'90.

II. The act will cause the treasury serious embarrassments. - (a) If the government continues to issue the treasury notes the reserve of gold will be exhausted: Forum, Oct. 1890. - (b) If the government is obliged to board part of the notes, there will be a drain on the resources of the treasury.

III. The act will be a serious embarrassment to the country, by introducing the silver standard. - (a) When the reserve of gold fails the silver dollar will no longer circulate at its face value. - (b) The silver standard cannot be introduced without a crisis.

IV. The act is a disturbance of existing condition. - (a) The gold standard is better: Forum, 9, 292. - (b) Gold is the standard used in foreign trade.