Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1895-08-14

argument was to prove that "bimetallism"
had been established In 1892 and that
Harvey's contention was that silver mono
metallism was established at that time.
Harvey contended that the law that estab-
lished silver as the standard, and he quot
ed tho law Of, 1892, Albert Gallatin, Chief
Justice Chase. the Chicago Tribune, and a.
nally Horr himself to prove his position.
Eorr said the intention was to establish BIZ
metallism. The two contestants were still
IN the unit when the nrstday's debate
closed.
SECOND DAY.
The second day Of the silver debate
opened with Mr.. Horr in possession of the
floor. He Immediately referred to the his
torical statement read by Mr.. Harvey the
day before regarding I. condition cf the
world from the beginning of the Chris
tian era to 1880. He said: LET the all
swer be given from good authority. Hal
lam's Middle Ages volume 2. page 500, In
not. says: M. Laber Mem. de rAcad. des
Inscript.. Neuvelle Serie XIV 230) calcu-
lates the power of silver under Charlie
Aio6hC Will Tic plCSCHl NoS "
have been II to l. 1t fell afterwards to s
and continued to sink during the middle
ages. The average of prices during the
fourteenth and fifteenth centuries was 6 t"
l. The price Of wheat from the eighth to
the fifteenth century thus doubled and the
valu Of silver decreased to one-half, ac-
cording to Hallam and this renowned
French authority. This is the exact op-
pJsite OF the statement which Mr.. Harvey
makes without citing one leading historian
or ecoEPpist or statistician past or pre-
sent.
Let US turn to a third authority. one
accepted by men the world over. | cite
from Professor James E. Thorold Rcg-
ers, the political economist and historian.
He tells us in his Economical Interpreta-
tion Of History, page 262. that from 1861
t. 400 the price OF wheat per quarter
averaged S shillings 10A pence and in the
next 40 years averaged shillings 11A
pence. The price Of lead was in the first
period 80 shillings 9A pence per fother.
on an average. and in the latter 104 shil-
ling Az pence. more marked advance
occurred in the years 1900 to 1910. years
unlnfluenced by the silver treasures Of
America. which Adam Smith says did not
affect prices in England before 1870. Rog-
ers' Six Centuries Of Work and Wages,
page 343, says: Now 1t Is clear that
prices were rising. though slowly and mod
eretely. during the first forty years Of the
sixteenth century. In the first decade the
money value Of the principal necessaries
Of life, corn and wheat. were at the ratio
generally speaking at which they stood for
two centuries. In the last decade. 1870 to
1910, they had risen by 20 to 40 per cent
professor Rogers says: The If
teenth century and the early years Of the
sixteenth. were the golden age Of the arti-
san and the laborer.' In the Economic
Interpretation II History page 81. Rogers
says. in speaking Of the status Of labor
e:s Of 1895 it is considering the cheap
ness Of the times exceeding liberal. At no
time In English history have the earn
ings Of laoorers interpreted by their pur-
chasing power been SO considerable as
those which this act acknowledges. At
that time Rogers shows this purchasing
power of wages was substantially so per
cent higher than the average for the
2S0 years 1861 to 1870"
Mr.. Harvey-What year was that?
Mr.. Horr-That was in the fifteenth
everything was going to the bow-wows.
Horr quoted other authorities in the
same line Of argument. and then Harvey
took the floor. He said he read from the
report Of the Monetary Commission Of
1876. including the historical quotation
Just referred to by Horr, mot for the pur
pose Of entering into an argument on po
litical economy Of the years 400 to 1900.
but simply to show that all Of my friends
from New York and elsewhere who have
accused me Of forgery were wrong. DR..
Adam Smith, an able historian, whose
work | put in Mr.. Horr's hands yesterday,
confirms all that there Is in that monetary
commission. Page III gives you the table
Of the rise OF prices that contradicts every
thing that Mr.. Horr has said here. The
encyclopedias In your Libraries will con-
firm that report Of the monetary commits
sion and contradict everything that Mr..
Herr has said
Remarking further that he did not ex-
DeCl U Ue ulNGIlcu u answer lTEGSSldUl
matter, he proceeded to recapitulate the
debate Of Tuesday saying: Thus far We
have considered two questions, gold and
silver as the money OF the constitution and
the unit OF value in our monetary system
fixed by the trainers of the constitution,
and what existed as our monetary unit
from 1892 to 1878. The debate is Of value
thus far in eliminating the doubt that has
existed on these two points in the minds
Of the pecple-a doubt that has been pro-
duced by misrepresentation made by those
advocating the gold standard. A reading
of the debate thus far settles these two
questions in favor Of the book we are dis
cussins.
Gold and silver have been honest
money for centuries, and under free coin
age and equal treatment they have been
practically at par with the legal ratio fixed
for their coinage: under these laws both
were money in their own right, each hav-
ing equal purchasing power and both
adapted to use as money. Population and