The Dickinson press., 1895-07-27
H0RR and HARVEY
The Great Debate on thu Financial
Question Il Opened at
Chicago.
Horr Says Coins Financial School
Is Ch0ck Full Of
Error.
Harvey Defends the Book and Argues
for Free Coinage of
Silver.


Silver:
Chicago, July 1S.-The financial de-
bate between exc Congressman Roswell
q. Horr, late Of Michigan but now Of
New York, and William Harvey. au-
thor Of "Coin's Financial School," be-
san ct the Illinois club before a large
audience. The debate will last ton
days.
Mr. Horr Opens the Debate.
The ex.congrstsnan was tho nrst to
speak. Es said:
q Gees siss:eS secured by A''' T. ''''A
TT 10 agreed between Nr. Harvey and
myself that previous to entering upon the
general discussion each Of us shall make Q
brief statement defining In a general way
the position he proposes to occupy In this
debate. The question which We are about
to discuss Is one that 10 not only receiving
vDry great attention among tho people OF
the United States, but 1t IL ono that II also
receiving some attention from the nations
Of the old world. The question involves the
kind Of money that shall be used BY the
people Of the United States, and has to do
with laws which will affect the great busa-
ness interests Of this nation. The question
Of finance Is a very complicated enc. and
There are some features Of It about which
the ablest Of men Of the word have been
differing for years.
''The foundation of the discussion upon
which va are about to en;er In a small book
published by Mr.; Harvey; ny opponent. and
aim and object of that book IL to convince
the people Of the United States that this
government should alone enter upon the
tree and unlimited coinage Of silver upon
the old ratio Of 10 to /. The wisdom Of
such a course I dispute. AR. Harvey will
still maintain the Affirmative Of that Issue.
will state in the ontset that from tho be-
ginning to the end Of the book there 10
hardly a proposition made to which ! give
my assent. propose to controvert many
things which are stated as facts, and shall
attempt to prove that the entire theory set
forth By ito author. II adopted by the peo-
pic Of HE country, would lead only to busI-
now remember ever to, have examined .
book carefully In which l found so few
statements that I consider worthy of be-
lief. and certainly never saw so many alb
solute errors crammed into SO few pages.
II am not here US an opponent Of b.
metallism. I believe in the use Of gold and
silver as money to the fullest extent that
Gun be done on sound business principles.
My position upon this question has been
too frequently stated within the last five
years to be misunderstood by any one. /
believe that both gold and silver are the
natural money Of the world; that in all the
larger transactions. gold is better adapted
10 the necessities Of the people than silver:
that all the smaller business transactions Of
the human family for many years have
been aud always should be conducted with
silver. l also believe that in all transac-
lions of the nations Of the world. between
themselves. the two metals should be used
In the settling Of balances, but only ut their
commercial value. l also believe that In
the business OF our nation the people should
never attempt to use either metal, except
that 1t be at equal value, only In cases
where one metal may be used as token
money and may be mad r%edeemable In
metal at It's coin value.
II have always entertained the hope that
the business men Of the world would yet
come together n agree upon rome basis
whereby gold and silver can both be used
a. the money Of final settlement among the
psople Of the entire world. l am very clear
In my idea that until some such arrange
msnt shall be made. 1t would be simply
suicide for this nation to adopt u system
OF the free coinage of silver upon the old
ratio. a ratio which all the civilized nations
Of the world have long since discarded. I
do not believe that any one government can
TX ul6 Vdluc VI duy Two metals, anu name
q ratio which will be adopted by the people
OF the world. or Of the country itself, 80
that the two metals would be used side by
side. Consequently II our nation alone
should attempt any such action. 1t would
simply place our country upon a silver ba-
sis. aud the attempt would end in
Silver Monometallism.
"lf we are compelled to decide between
gold monometallism and silver monometal-
lisnl. then l am decidedly In favor Of
adopting the standard used by the civilized
nations of the world. l do not believe that
silver has ever been denlonetized anywhere
In the world. I believe that the law of
1873. which Mr.. Harvey's book %denounces
as a crime was honestly conceived. open
~ advocated and passed by the American
congress after full elaboration, and be
cause the people at that time who held
seats In the American congress believed
that such a law ought to be enacted. l do
not believe In the teachings Of this book
that this nation Is on the verge of financial
ruin, or that starvation Ia staring our PEG.
Pile In the face. l believe If our nation
should adopt the course advocated In thit
book we would seriously injure the entire
wage-earners Of The United States. l be
lieve we would destroy the confidence O,
the business men of the world in our In
tegrlty as a nation. and that we would pre-
cipitate such a financial panic as our coun
Try Has never UeIOr6 seen.
II shall deny most emphatically that tn
great majority of the people Of this coun
try are in debt, and shall Insist that three
fourths Of the American people are t0-da.
creditors and not debtors, and that conse
Quently the system which MIR. Harvey ad
vocates would work great injury to tn
vast majority Of American citizens. l vii
state further, that II this book, abou
which we are going to debate, Is true. the
| I am all wrong II GooYna tn mo ilovOId n
business sense from beginning to end, an,
shall enter upon the work of attempting
to prove that, and hope to be able to do 1t
in language that shall be SO plain and ex
pllclt that my fellow citizens will be suits
fed that l have accomplished my task
Understand me, in a few words:
II believe that the American natio,
should have Just as good money as any na
ton uses on the face of the earth. 1 be
lieve that every dollar paid to a poor ma
Tor his daily toll should be worth Us niue
as the dollars paid to men who are rict
I would have the money which measure
values the most stable that Gun be devised
and would insist that buyers and SELLER
lenders and debtors shall. as near as poss
bic. be required to use the same measur
Of values and shall insist that r%epudiatio
In nil forms 10 disgraceful and dishonorl
bic in the case Of nations. corporations
individuals.
WHAT our people ueeu IL SoOu CESul
good money; good principles and SCUM
business sense. Visionary schemes and d
based money never yet made a nation pro
porous. The quality Of the money used
sT wp Siti i Fl sEo1 %arf 81 ,n%RS sxS d thar S4st Z
the men who ea1n money as well 40 tho
: who W. money. \ man who works fait
fully and lives on his daily earnings shou
never DO sacrificed for the benent Of m,
who live on what they borrow. But {
these things will DO more fully EXPLAIN
: > as the contest progressss."
) "Coln'ss Statement.
2 The opening statement made by Mr.. HI
vey follows:
II am here to defend the facts and pr
i 0lples Of Coins Financial School, I Q
aware that the Illustrations in that DO
A are Q great aid in presenting clearly
. views. We and this true in our schoo
" Many scientific works rely on illustration
and our newspapers ind that Illustrate
make plain many ideas that could not 9th
wise be clearly expressed. and yet I {
O here to defend orally those same principl
q ! expect to make good In this debate I
following propositions:
NEflraf-That 0n1d and allvor avn 4