Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1895-08-10
ORATORS SUMMARIZE
Messrs. Harvey and Horr Review
the Financial Debate.
BOTH RETAIN THEIR OPINIONS.

BOTH RETAIN THEIR OPINIONS
Though Holding Opposing Views. Eaci
Contestant Has Proved to Ills Own Salts
faction That the system He Advocates i,
the True Solution OF the Nj oney Question
/ CHICAGO, Aug. 7-Following is q syu
opsis OF the summing up of the Hor-
Harvey debate by Roswell e. Horr;
\ Tho object OF this debate was to deter
mine if it would be wise for our nation tC
throw open it's minis to the free coinage
of silver at the ratio of is TO l when thu
civilized nations OF the world refuse &
join in such action. Ny opponent pro
posed to prove that such course is all
visable. / denied tho adyisability of sucl
action.
His statement that the primary money
only is the measure of value he has not
even attempted TO sustain. He based his
I whole argument on the proposition that
the silver dollar was in 1872 made the only
unit or measure of value. / have shown
conclusiyeiy that our forefathers at.
tempted to establish bimetallism and pro
vided for two units OF value, one Of gold
and one Of silver, always naming gold
4 first and that up to 1884 the silver stand
ard alone was used That after the gold
standard came into use the silver dollar
has never been used rs the measure Of
value In the United States.
Mr.. Harvey next based his case upon
the assumption that the law of 1873 was a
crime, and stated that it had its origin In
/ fraud and it's birth through bribery and
corruption. He introduced 70 evidence
In support OF any one of these positions.
! Thus he stands convicted by his own
statements Of an effort TO deceive tho
| people.
His assertion that option of the debtor
to pay in other metal causes tho cheaper
metal to be used is true, but such option
does not restore its relative commercial
value. On the contrary. it drives the
dcarer metal out of use. History proves
| that the use of single standard is the
only means by which both metals can be
| kept in circulation.
The gold unit is not responsible for the
| fall In prices. Mr.. Harvey utterly failed
to show fall in the price of single
article which is not fully accounted for by
the cheaper cost of production, improved
| transportation or increased supply.
During the discussion Mr.. Harvey cites
Roman history, with its many evils. But
he inadvertently makes an admission as
to the great value of banking facilities,
which refutes all his other assertions
against such systems. He says: 1T Is "A
significant coincidence that the first glim-
mer Of light only came with the invention
of bills Of exchange aud paper substitutes,
through which the scanty stock OF the prec-
ious metals wore increased in efficiency"
Strange that it did not occur to him that
this is ''an entire give away of his whole
rant and fustian against banks.
The condition OF the mass Of the people
of the United States has improved more
rapidly since 1873 than during a similar
number of years since the nation was
born. Mr.. Harvey endeavors to prove de-
creasing wages in the United States since
1878. He introduces only one statement
in support Of his position that was the
evidence Of a single man for one trade Ia
the city OF Omaha. On the other hand to
prove that they are advancing Introduced
the Investigation OF United States Com
missioner OF Labor Muihall, who showed
that the average annual wages in manu-
no i--a 1900 tt9e' AiS'H 800
IN $50 20 500 Tor each person Ia 1870
Mr.. harvey virtually admits that the
action winch ne proposes VIII put this mn
tioh on a silver OASIS ana arive gold out
OF TINS country l showed eonciusively
that this would WORK INJURY 10 seventeen
million people VINO work Tor wages. Mr.
Harvey has shown that benefits VIII come
to no person except silver mine owners
and insolvent debtors.
Following is synopsis of w. II. Har-
yey.s summary
Inc debate settles In my Judgment the
following propositions: That gold and
silver Is tho money OF The constitution.
That the silver dollar was the unit OF
value In our coinage system liked by the
act OF lI1. Mr. Horr admits this. That
both silver anu gold were the measures OF
value OF all other property until 1913, and
the debtor has u right to pay in either
metal That the act OF 1913 was surrepti-
tiously passed. That for all time of which
we have knowledge, gotu and silver were
treated equally as money, and until 1873
the commercial value OF the two metals
was substantially at purity with the le-
gal ratio. That prices OF all property are
substantially at the present time onc-half
OF what they would hs under the blme-
talilc system. That all the silver coined
since Feb. u, 1872, has been token money.
l believe those who rcad ANA carefully
digest the debate viii conclude that have