The herald., 1895-07-23
] MORE METALLIC CHIN MUSIC
HOrr and Harvey Resume Their
Heavy Debate
AFTER WELL EARNED REST
Arguments and Points Follow Each Other
in Rapid Succession
Sherman Disputes Some of Harvey's State
mems, Who, in One Case at Least,
Was Wrong
A.soc,sted Press Special Wire.


bate between Horr and Harvey. 1t was
more than ever case OF Greek meet
Greek and as the interest in the tug-of-
war was heightened, 1t was at once seen
that the DAYS of Perlcles, as well as 1892
1873 and other years. no matter how his
toric or important, we're all barred more
or less in favor of 1885,
Mr.. Horr opened with written argu-
inert touching the impossipility OF main
banning fixed ratio between gold and
silver. As result of experience, he said,
all civilized nations discarded silver as
their standard money. It was useless to
exploit long tables of ratios to show
whether the double standard could pe
maintained. The world had pronounced
against silver.
Harvey said he had been called on by
letters and kilograms to give statements
by Blaine, ingalls, and others concerning
the denomination act. lie said that
words at his disposal in this debate would
not admit OF it. Taking up Horr's eulogy
of Senator Morrill,. delivered Saturday, he
charged th at Morrill, erred when saying
that no silver dollar had been coined for
fifty years prior to 1873. Harvey read
from the report OF the director of the
mint, showing that silver dollars in
ed nearly every year. The fact was tnat
Morrill, was a bank stockholder with bank
stockholders prejudices. he called upon
Horr TO explain. Horr SAID Morrill, had
not meant that not dollar had been
coined, but that none to sreak OF had
been. AT most it could be SAID that Nor
rill had made a mistaKe. Harvey in his
book had made a mistake in stating the
amount of silver coined during the life of
the government. Mr.. Horr declared that
the insinuation that because Judge Morrill,
was an owner of bank stock he was not
to be believed, was too contemplate for
consideration.
Mr.. Harvey said that in raising the
point of coinage of silver prior to 1873 he
wanted to establish fact in history
which had been obscured by false state
ments that such coinage had not taken
place. He wanted to make his answer in
the presence of gold men. Proceeding
Mr. Harvey said he did not mean to re-
fleet on any mans integrity because he
was a bank stockholder. He merely
wanted to show that men were swerved
on their expression of facts by their in
terests. Mr.. Harvey then defined scien
1itic bimetallism to be the free colnaSs OF
both gold and silver at an assumed ratio;
change of size of the metallic dollar when
the parity beetwen gold and silver should
require it, the option to both individuals
and the govern ment to pay in tie cheaper
metal. He held that under these condi-
tions silver would not depreciate because
there would be an unlimited demand al
the ratio fixed by law, and no man would
sell his bullion below the pric@ at which
he could have it coined. Mr. Harvey
submitted table to show that from 1857
up to 1873 the commercial ratio had re-
manned remarkably close to the legal
ratio. Notwithstanding the dem 2netiza-
tion of it by England and another OF the
great nations of the world.
Mr. HOrf said this matter of ratio has
little or nothing tt do with the question.
The fact was that all the civilized nations
Uf the world refused to recognize silver
except at its bullion value. For us to at
tempt free coinage alone was not the mat
ter. Mr.. Horr then took the proposition
OF Mr.. Harvey's book that making the
dollar one-half the present value would
double the value of everything IN the
United States except debts. Mr.. Horr
pronounced this absurd, saying we might
as well say that if we cut our yard sticks
in two it would double the amount Of
Harvey seemed to be "stuck on sweet
sixteen to one" In his book he pro-
posed to keep metal value at a parity by
reducing the amount of gold in the gold
dollar. Carried to its legitimate results.
the ratio would become 16 to 4, or b
to l. Mr.. Harvey proceeded to argue
that both gold and silver were the meas
ure of values until 1873. Referring to
thee putting of the yard stick in two Mr..
Harvey said that the gold men hau
doubled the yard stick in 1873. He asked
whether If half the gold were destroyed
the value OF the gold dollar would not be
doubled.
MIR Horr shook his head. Mr.. Harvey
said he would illustrate it in another
way, which the farmers would under
stand. If half the wheat crop in the
United States we're destroyed would not
the price of wheat on the Chicago board
OF trade be doubled? In demonetizing
silver in 1878, the gold of the yard stick
had been doubled. The friends of silver
were merely asking for the restoration of
the measure by readmitting silver TO
coinage.
Mr. Horr, in reply to the charge that
the demonstration of silver cut the value
of prices in two. said that if that were
true. prices would laye at once dropped
30 per cent. The fact WAS that they did
not. ii the destruction of half the wheat
crop would raise prices fOur-fOId, tn e de
monetzation OF silver did not destroy it.
Returning to the attack. Mr.. Horr said
that Mr.. Harvey did not care for ratio. ,
What he wanted was a cheap dollar and q /
cheapening OF the emoluments OF labor. |
That was the most prosperous country in |
which It's workmen We're best pad.
Mr.. Harvey said that dear dollar and |
a cheap dollar were comparative terms to /
be measured by mans circumstances. 1
~ gnu bOl4N4 Ndo WI tL4 44lp4t Gllu4i d /
silver dollar, some more costly substance /
might be found to make dollars. lie /
said he did not propose to allow Mr.. /
Horr to pose as the friend OF the laborMg |
man. The gold men had thrown some 1
four millions of WorEugmGu out of em- |
ploymenJ and had put some of them i'm |
prison because they objected tC having /
their wages decreased.
Mr.. Harvey promised at the proper !
time to show the logical relation of the 4
gold basis to the workingmcu.
Mr.. Horr said II was in 1879 that we re- /.
sunled specie payment, and the only |
money OF financial redemption was gold. /
He asked was distress abroad i'm the land 4.
from tnat on? The fact is the years from /
1879 to 1892 found our people better en- /
ployed and at better wages than In any /
other same number OF years since this /
government was formed. (Applause). |
Four millions of men today ont OF en- /
ployment. Whore did you get your fig |
ures?
Mr.. Harvey-I said from two to four
millions.
Mr.. Horr-Two to four millions? Four !
millions is ont of the question. Two |!
millions is Just about as bad. There is /
not any truth in either statement.
Mr.. Harvey-As to the prosperity OF !
this country between 1879 and 1892, you |
could not break down great nation like |
this in year. Ii has taken a short per
iod TO bring us to the bitter cup OF disap- |
pointment and distress. l know that |
every four years tbs political parties have