The San Francisco call., 1895-07-30

he. "The burden of his whole talk in this
debate is that we ought to have a cheaper
measure; that the unit is worth too much.
So now we agree that it will change the
measure. Mr.. Harvey says that 1t is what
ought to be done because, he says, the
whole world is in debt and our country on
the brink of ruin because the present dol
lar is too valuable. That is position in
which differ from him. The debts OF the
day have all been contracted with the gold
dollar as the measure, and to relieve the
payment of them in any way by trick of
this kind is reputation"
Mr.. Harvey continued his quotations
from statistics in relation to the worlds
supply of gold and the bearing the arts
had toward it.
1.-The more costly either gold or silver
becomes" he said, 1.-The greater the de-
naments Where the dearer is used exclu-
sively for primary money it is the one that
is boarded. When gold and silver were
both used as money in their own right
silver was boarded by the plain people
and was brought forth to serve them in
time of need. Gold is principally boarded
by the rich to serve a purpose in bulling
the money market. Hoarding of silver by
the people was beneficial; boarding of gold
is an injury. The cause OF boarding in the
two instances is different. In the first in
stance it is to serve natural law, provid-
ing for the future. In the second instance
it is commercial motive, affecting injuri-
ously the community. This is one of the
reasons why silver has always proved the
more stable money"
Mr. Horr referred to Mr.. Harvey's habit
of comparing size as having to do with
value, and stated that the amount of gold
in the world all put into a cube had moth
ing to do with how much it is worth. He
accused Harvey of comparing things that
were not alike with each other, and when
a man did that, he said, he was always in
the wrong.
''Now, there is no Disgusting the issue
between US. 1t is simply this: Can we
benefit the people OF this republic now by
making dollar mean about half as much
as it now means? Can we benefit them by
making it seem any considerable amount
less than it now is by making it actually
less in value? We may disguise it as much
as we will, but the free coinage of silver on
a ratio of 16 to l means silver mononietal-
hsm"
Mr.. Harvey maintained that there would
be a commercial parity between gold and
silver at the ratio of 16 to if the law was
passed putting both metals on an equal
footing at that ratio. What he meant by
an equal footing was that both should
have the right to enter the mints free TO be
coined into money with 1922 grains of
pure gold to be dollar and 3711A grains of
pure silver to be q dollar. The money
made from both metals was to be full
legal-tender money in the payment of all
debts, and the debtor to have the right to
pay in either metal. The supply of silver
was limited. When a great nation like
this, whose normal capacity for the ab-
sorption OF money in the transaction of its
normal business is not far from four thou
sand million dollars, opened its mints to
silver it fixed the price of silver the world
over. So long as the supply of silver re-
mained as it is now no one would part
with it for any less than they got for it in
the United States.
'Mr. Horr will say to this: The Govern
ment does not buy the silver under free
coinage. 1t stamps it and hands it back
to the owner worth no more than when he
brought it to the mint What the Govern
ment has done is this: 1t has given to sill
yer new use and the use is what gives to
it its value"
Mr.. Horr closed the debate with an elo.
quent peroration on the revival of business,
of the appeal of Cuba against oppression,
of the distressing situation OF the South
American republics, and said:
ave are fighting the battle of liberty for
the world. [Applause.l The result OF
your verdict upon this momentous ques-
ton will be worldwide. 1t will convey
words of cheer and stimulate the nerves of
free men in every land"