Debate of Nov. 9, 1893.Question: "Resolved, That the adoption of the single gold standard by all civilized nations is desirable."

Brief for the Affirmative.D. KING and H. C. METCALF.

Best general references: F. W. Taussig, The Silver Situation in the U. S., part II. Robert Giffen, The Case Against Bimetallism. J. L. Laughlin, Quarterly Journal of Economics, Vol. I, p. 318.

I. The monetary standard should be international. (a) Expanding international trade. Laughlin, Q. J. E., Vol. I, p. 367. (b) Monetary Conferences, '67, '78, '81, '92, Chicago Tribune, Aug. 6, '93.

II. Gold the best standard. Taussing, The Silver Situation, p. 124. (a) It is most convenient. Sidgwick, Foster. R., Vol. 46, p. 480. (b) It is most stable. Goschen in Journal of Institute of Bankers, May, '83, pp. 277-279. (c) It is so recognized. Chicago Tribune, Aug. 5, '93.

III. The gold supply is amply sufficient. (a) The output is not declining. Taussig, Pop. Sci. Mo., Sept. '93, p. 582. (b) The use of credit is increasing. Laughlin, Q. J. E., Vol. I, pp. 325-326. (c) Debtors are not burdened. Goschen, Q. J. E., V. I, pp. 329-337. (d) Money wages are rising though prices are falling. Taussig, Silver Situation, pp. 106-108.

IV. The alternatives are impracticable. (a) The single silver standard is admittedly bad. (b) The multiple standard is difficult of attainment. Taussig, Silver Situation, p. 125. (c) Under national bimetallism the nation cannot be maintained. Laughlin, Hist. of Bimetallism, pp. 5-9. (d) International bimetallism is bad, because (1) Agreement cannot be reached. (2) If made, the agreement could not be maintained. R. Giffen, Pol. Sci. Qu., Sept. '93, p. 412. (3) If made and maintained, prices would rise, and injustice would be done to creditors.

Brief for the negative.M. S. HYMAN and J. T. KILBRETH, JR.

Best general references: F. A. Walker, Money, ch. 9-13; E. B. Andrews, in Pol. Science Quarterly, June, 1893; J. S. Nicholson, Money and Monetary Problems, Part II.

I. Single gold standard undesirable. (a) It will decrease amount of money

(Continued on third page.)