Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1895-07-31
HORR AND HARVEY.
Continuation Of Financial De bate
in Chicago.
The Champion of Silver Gives Five His
torical Reasons for His views-Mr.
Horr Says Harvey's Book
Is "Hodgepodge."
Copyright, 1896, by Azei f. Hatch. !

CHICAGO, July 24.-No evidences OF fatigue OF
lack OF breath were apparent in either Of the
principals in the Horr-Harvey debate when
time was called for the sixth round Tuesday.
Mr.. Harvey led with vindication Of
the Importance of the debate, which, he said
rested upon five historical reasons
/ l. For 200 years prior to the demonetiZa.
ton of silver in 1873 silver was seeking the
mints OF the world for coinage into money.
/ 2 For 200 years prior to 1873 there was nc
legal ratio Of 15M toll. During the twenty.
two years since 1879, however, the two ratios
had separated widely, and gone from 1871 to
to about 50 to /.
For 1888 years prior to 1873, the quantity
ratio between silver and gold ranged from 81
of silver to of gold to of silver to of gold
but Notwithstanding this wide variation the
commercial ratio had chung tenaciously to the
legal ratio
4 The price of silver in the London market
as measured in gold, up to 1878 was practical
ly steady, while since that date silver had de-
clined from 60 pence per ounce to EST pence
per ounce
of silver has been going on ever since its de-
monetiZation and is going on to-day
! Mr.. Horr did not reply directly to his OPP
| ponent, but took up Mr.. Harveys statement
! of Monday that but one error had been found
in his work, saying that there were myriads
of mistakes. not in express statement OF
| facts, but by false implication which any
man of sense would repudiate on sight.
| The next point of attack was the statement
| of page SO of Harvey's book that the people of
| this country are annually paying to England
500 600 in interest on national and private
| bonds. Mr. Horr denied this proposition fat
! ly and challenged anyone to produce evidence
| that the Indebtedness of the people of this
country to all the nations of Europe involved
anything like such an amount of interest.
1.-THE right to make q contract to be liquidat-
ed in one specific property should not apply to
| money" said Mr.. Harvey. "AI such con-
tracts, when made payable in money, should
call for lawful money To permit q raid
to be made upon either gold or silver is to
permit individuals or combinations of men to
dictate to the government what should be
legal money. Making money is an act of SOW
ereignty for the common good, and to allow 1t
to be corrupted would be to permit that which
would defeat the object intended. The gov
eminent is the creator of money, and the Gre
ator should regulate that which 1t creates"
Mr. Horr-The answer in your book of hodge
podge and errors that the government can
create demand for commodity has misled
thousands Of honest and unthinking people
My friend here, DR.. Robinson, says it is
using o seeming truth to lie with.
which is the most crafty and dangerous
kind of false statement.
+.
vey's book In relation to the Corn crop of ILL.,
nois in 1878 and 1898 controlling the price in
those years and to the purchasing power of
farmers products, giving figures to show the
statements we're untrue or misleading.
Mr.. Harvey-Mr. Horn will male nothing by
abusing or ridiculing me. The intelligence of
the American people demand something high
er than that Mr. Horn should have thought
of how the government fixes the price on gold.
Mr.. Harvey then entered into an argument
on what he regarded as scientific bimetallism,
advocating the option Of the debtor to pay in
either metal as a vital principle, the most i'm
portant essential in the success of bimetal-
1ism, preventing corners on either metal, al
ways increasing the demand for the cheaper
metal and thereby restoring it to parity If
there should be break.
Mr.. Horr-Mr. Harvey on Monday called at
tention to the great increase of farm tenancy
in the United States since $780, making that
one OF the points Of his book to prove that the
country is going to the dogs. 1t is
mine He calls this increase evil
and call it good Mr.. Harvey sees in ten
ancy as it is in the United States, the rising
of men by hundreds of thousands from low to
high condition. He calls that national
calamity Is it: ] do net so regard it.
Mr. Harvey-By the rules of this debate Mr..
Horr had no right to go to that tenant subject
where. The statement he has just mada, I
promise tosshoMg at the proper time, will ap
pear plainly unfair and inconsistent with the
facts Primary money is the measure Of
values Gold Jour present primary money! is
now the measure of values. Mr.. Horr and
agree as to that. Silver and gold working to-
gether, virtually as one metal, were formerly
the measure of values.
Mr.. Horr-Any business man will only need
to look at the table of production Of silver and
gold since 1873 to be able to ascertain that
the law operates in reference to silver
as well as in reference to every other
commodity. Silver does not represent to-
day the same amounts of labor, OF work,
that it represented in 1879 1t is cheaper be-
cause the demand and the supply are in such
relations to each other that it makes it cheap
er just as wheat has been cheaper, and for
the same reason. Mr.. Harvey is mistaken
Prices are not governed or controlled by
rhe amount OF primary money in any coun-
try or in the whole world so far as
know Why. when we passed the law of 1878
there was at that time only about $l35 000,0 600
of gold in the country-alI the primary money
we mad II his doctrine is true prices should
have been doubled instantly II your doc
trine is true every product in this country
should have been reduced in price by this
Of silver
The debate was adjourned to Thursday
at p m.
The Debate Resumed.
CHICAGO, July 26.-The seventh session of
the Horn Harvey debate opened yesterday.
The production OF the precious metals was the
uppermost subject The ratio of production
for the last century was shown by years. |
When the disputants came to panic years |
causes and results were discussed. Branching !
off from the money question, the money cham |
pions. discussed at length the production Of |
wheat, corn and other farm products and |
talked about the laws Of prices.
Once early in the debate Mr.. Horr demanded |
proof that money was coined outside of Wash
ngton previous to 1854 When Mr.. Harvey |
furnished the proof in the United States treas
lry reports Mr.. Horn maintained his point in
the face of the reports
Side questions were frequently raised, and |
witty replies were in the air oftener than in
The previous debates, and applause was fire.
Quent and prolonged
Both the debaters. and the audience as we'll,
we're pleased when Judge Vincent announced
1t adjournment that the debate would be re-
,umed on Saturday ut o'clock
--------
Corn Destroyed by Hail.
ELDoRA, Ia, July 27.-Two inches
If rain fell here Friday night. A hail
storm passed through the center of the
county from northwest to southeast.