The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-30
MORE ASSERTION AND DENIAL.
Coin Says Silver Men Want 10 Re.
duee the Price Of Gold.
The United States the Last stronghold
of Liberty. and the Free Coinage
Men flghting for Freedom. He
says-Horr on the Injustice of CUT
ting Debts in Two.


the question Of the feasibility Of inde-
pendent action BY the United States on
the reconciliation OF silver and free and
unlimited coinage at the ratio of Is TO
]. with gold. regardless Of the action Of
other nations. The discussion was opened
by Horr with the statement that the
figures aud prices referred 70 by Harvey
on a former day showed that the fiuctu-
stions for a series of years mad been
normal ones, in view of the supply and
demand. and showed that silver legisla-
tion had nothing TO do with the matter.
The fact was il was impossible TO show
that silver legislation had affected the
price OF agricultural products. IIarvey's
figures. Horr declared. were made up
from English. not American, prices. On
the subject of city and farm tenancy.
Horr said Harvey quoted only a part OF
the paragraph. Horr said the question
at issue was not one of city, nut one OF
farm tenancy. This tenancy. Horr
averred was misqu oted by Harvey 10
show an increase. whereas there was an
actual decrease, as shown by The census
tables Harvey quoted this statement in
one Of his books as coming from Carroll
D Wright. He (HorTl had written
Wright about II. and he replied that he
had made no such statement.
Replying, Harvey said he had taken the
figures as published and attributed 10
Wright. He asked labor leaders whether
the quotation could be relied on, and
they said il could. Since then he had
made direct inquiries. and. finding the
quotation erroneous, had taken Il from
the plates of the book. Taking up the
regular discussion. Harvey presented a
table showing the coinage of gold and sill
YER from 1872 10 1873. He did this 10
show that gold did not seek the mlnts
for the first ffty years of national ife.
and that silver did not from that time
till 1876 Harvey then quoted from MS
book the statement that the amount OF
gold and silver in the world Tor coinage
uses had decreased. in view OF the fact
that the amount diverted from coinage
for use in the arts had greatly Increased
within the past few years
Mr. Horr coming down to the question
In hand declared it was useless TO Try TO
fix the relative value OF any tNo SUP
stances by legislation suppose SOMEBODY
should try 10 fla the relative value De-
tween a bushel of wheat and bushel or
oats As soon as one Of them had a large
crop up would 20 the ratio. and legislation
by the nations Of the world Nonid no.
maintain the ratio any more than II wouid
make water run up hill The law OF graN-
itv v;ouid stand in the way IT was so IN
the matter of the ratio between silver
ana gold The law OF supply and demand
stepped in. and the history of The world :
legislation showed that Il was imnossio-c
10 maintain a fixed ratio between inc
prfciOBs metals
Mr. Harvey said that when he reached
the matter contained in Mr.. Horr's last
talk he thought his Cdr. Harvey's) an
swer would he satisfactory. Continuing
his line Of argument. Mr.. Harvey quoted
estimates as to the consumption OF goid
for use In the arts and otherwise, and Tor
boarding. 10 the effect that these uses
equaied if they did not exceed. the pro-
duction so that the amount Of that metal
for coinage was at a standstil or decress-
ing. Mr.. Harvey then took up the ques-
| ton as to what is becoming OF the silver
| being produced al present. He first quoted
| statements by authorities that the in
crease OF the use of the metals in the arts
| had grown so large there vas always 4
ridiculously small supply in Europe, and
| there was demand for practically all OF
/ the article the United States produced.
| Proceeding. Mr.. Harvey said that gold
| was irreeularly produced. and was hoard
| ed hy the few rich. Silver. on the con-
/ trary. was more valuable than gold. when
| gold was boarded. TO the mass Of the peo-
| pie, thereby Conferrng a general benefit.
/ II was for this reason that silver had been
1 a more stable money in the past than
/ gold.
| Mr.. Horr said that ATr. Harvey had the
! unfortunate habit Of comparing things
4 which had no relation. That was the
| matter with his cube argument on gold
| and silver. The cubic space which they
I would occupy had nothing To do with their
| value. ResuminF his argument. and re-
| ferring 10 Mr. Harvey's statement that
| the reconciliation Of silver would reduce
| debts by half. Mr.. Horr said that by for
/ the largest part OF the debts in the United
1 States was less than one year old The
( oid-time debts were those Of the large
/ corporations The short-time debts We're
contracted under the existing gold basis.
/ and to reduce them one-haif would he 10
rapuaiate that one-half. HaTvey's pr0pa-
/ sition would simply result IN silver mono
metallisrn II had been thought that n
| was possible % clip money without in
turing ANYBODY. That had been proved
faIIari0us He declared that cheap money
could not be substituted for good money
! without iniuring the mass Of the people
Who would profit by such change would
/ not be the rich. but the money changers.
Mr.. Horr then proceeded 70 enumerate
| the classes OF people who work for
their living arguing that they would be
! injured by cheap money.
Mr. Harvey returned % his cube srgi-
rnent. declaring it was a valuable OBJ
fact lesson. II showed that the Roths-
! childs could corner the gold Of the world
! in their vaults Who was Il that clipped
the coins in 1872 Who was Il that eStab-
( fshed a robber standard ResumiuE hts
/ arrnnsent. he said the geld advocates
{
| would be paid in silver. and the fnau wAo
| had stipulated % pay IN gold would have
| 10 buv IL az a premium This vas falia-
c4ot,s As soon as silver was TemonNfiZeti
/ no man could stipuiate for payment IN
sola s-The demand for gold ] believe
would decrease az the same time tNe de-
roans for silver woul6 increase. and soon
.he differences between ths metals would
- ,,,ir.e4 ,ts' Soon the purchaser ToulG
! 10 able 20 get more IN gold for wnat ne
ba5 - sell than now. tie declared u was
! -. .Ne STAMP or the coin wnich gave y
,ha value hut the making Of new use
F ana rea demand for 81 r. - ihe next
( ga~e~al election hI-uctallc congress
sN-,4a he elected. the rubicon would be
I raz@ed the next dav. StlVeT ~o'ifa ~
go begin TO appreciate and gold 10 &C.
/ ,re~geta and tney would be 81 parity
( bcfora the meeting of congress a. tHe
-~aarhack dollar became equal lu Fst1e
l ~ ire gold 3cIiar before the restiI1i pf1oH
act went into force
1 Hs~ gForr reslu1tuE. reiterated ths state
/ v~e~4 THAT silver had nothing 80 % with
,.aauas diamou5 worth S5,sstsPH could
-, r.,., into a cualrs eEE Hr- ltcrr en-
go hss enumeration of the classes ~
/ ~..,rt. v-ho he declared would fe Tf1i-et
/ h,- ehesTseriuE the measure of Falue
/ -rra,- t,-feEesf Iahorers. clerks rallw sv
/ arrriovee aougestsC servants. 5anitcrz ard
& sr~rsA, women skfIiet tahorers ~ al sorts.
/ ag-v5~,,4t8ral iabarers. miners and Eae Ike.
! n he aggregate =, -, So n number. IL