The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1895-07-27

Chicago, July "a. - ''Back datcs' wee
thrown to the dogs to-day in the debate
between Horr and Harvey. 1t was lore
than ever a case Of Greek meets Greek.
and interest in the tug-of-war heightened
at once when 1t was seen that the days Of
Pcrlclcs as well as 17a2, 1916, 1873 and
other years, no matter how historic or i'm
portant. were all barred more Or less In
favor OF 1895.
Mr.. Horr opened the dispute with a writ
ten argument touching the impossi5iitty of
maintaining a fixed rdfe between so u and
silver Mr.. Harvey charged that Senator
Morrill, erred In saying that no silver dol
lars had been coined for forty years prior
to 1873. Mr.. Harvey read from the report
Of the director Of the mint, showing that
silver dollars IN greater or less amounts
had been coined nearly every year.
Mr.. Herr said that Mr.. Morrill, had not
meant to say that not a dollar had been
coined, but that none to speak Of had been.
Mr.. Harvey submitted a table to show
that, from 1851 up to 1873 the commercial
ratio had remained remarkably close to the
legal ratio, Notwithstanding the demonetiza-
ton Of 1t by England and another of the
great nations of the old world.
MIR. Horn said this matter Of ratio had
little or nothing to do with the question.
Thu fact was that all of the civilized ma
tions of the world refused to recognize sill
yer and would only receive it at its bullion
value. measured in gold. What might be
If the other nations should join in admitting
silver to free coinage was one thing; for
us to attempt 1t alone was another.
Mr.. Horr then took up tho proposition
of Mr.. Harvey's book. that making q dollar
OF one-half the present value would double
the value OF everything In the United States
except debts. Mr.. Horn pronounced this
absurd, saying we might as well say that
~ wv nut oy,~ sem -N- T. A.. - ,-~r1l
double the amount of cloth in TIE country.
Mr.. Harvey argued that both gold and
silver were the measures of val1N until
1873. He asked whether. II half the gold in
the world were destroyed. the value of the
gold dollar would not be doubled.
Mr.. Horr shook his head.
ReadmittlnE Silver to Coinage.
MIR. Horr, in reply to the charge that the
demonstration of silver cut the value of
products In two, said that If that were true
prices would at once have dropped 80 per
cent. The fact was that they did not.
Mr.. Horn said that Mr.. Harvey did not care
for ratio. What he wanted was a cheap
dollar and the cheapening Of the cmolu-
ments of labor. That was the most pros
porous country in which its wOrkmen were
best paid.
Mr.. Horn said 1t was in 1879 that we re-
sumed specie payments, and the only mon
ey OF final redemption was gold. He asked,
was distress abroad in the land from that
on? The fact is, the years from 1879 to
1892 found our people better employed and
at better wages than in any other same
number Of years since the government was
formed. Applause.)
MIR. Harvey: LAS to the prosperity Of
this country between 1870 and 1892, you
could not break down a great nation like
this In one year. A change in relative
production had no effect as long as the
Nv yr,nrn nov - A. 49,. a.
plause.)
Mr.. Horn: 81 have never said that the
cheap price Of silver was not on account Of
Its overproduction. Silver has become
cheap In this world just precisely the same
as wheat and iron and zinc and lead and
other articles have been cheapened. just
precisely for the same reason. Applausc.)
All of these articles have been cheapened
by the natural laws which govern the
production Of every substance know to the
producers in the world"
W. D. Wilson of Chicago: "How about
gold?'
Mr.. Horr: "Gold the same. 1 am glad
you asked me. Gold has deprecated in
value In less than 100 years so per cent.
1t Is cheaper now than it was in 1873.
What l find fault with is that the silver
men invariably leave out Of their %calcula-
lions this article Of labor, and the article
OF labor is the greatest article known in
the civilized world. Cut down the pay of
labor and you paralyze the entire business
Of any nation.
Mr.. Harvey: "Mr. Horr says that every.
thing has been cheapened, including gold.
To say that gold and products cheaper
simultaneously is a financial contradiction.
You buy gold by exchanging ether property
for IT.. When 1t takes more property to
buy gold than formerly gold has .iaen. In
stead Of becoming cheaper, gold has be-
come dearer. That Is the case now. And
yet. Mr.. Horr, by sophistry, reasons that
1t has become cheaper. He says 10 the
laboring man: You can buy more with a
gold dollar now than you ever could, and
then turns to you and says that gold ia
growing cheaper all the time"
This ended the debate for the jay.
Settled by Sherman.
Mansfield. Ohio, July 22.-In the Harvey.
Horr debate at Chicago on Saturday Mr..
Horr said there was a provision in the act
Of 1873 for a 3s4-grain dollar worth five
francs, which was afterwards struck out
In the senate before the bill was passed.
Mr.. Harvey denied that 1t was struck out
by the senate and said that IL 1t were so
he would stop the debate right there. In
an interview to-day Senator Sherman stated
that this provision was added to the bill
after 1t reached the house at the instica.
tion of the citizens Of California, who pro-
duce both gold and silver, but that it was
struck out when the bill reached the SEN
ate. Mr.. Sherman also disputed a number
Of Mr.. Harvey's statements.