Courier Democrat. (Langdon, N.D.) 1891-1920, 1895-08-08
] DEBATE ]|j.| | IS ENDED.
LAST DAY OF THE HORR-HARvEY
3Ss FORENSIC RATTLE.
The Days Attack IL Directed at the
@ ouestion of the Feasibility of
Independent Action by the
United States In the Free
Coinage OF silver.
THIS IS HOW THEY STAND.
Mr.. Harvey Argues for Independent
Action, While Mr.. Horr Takes
the Opposite View.

~ :, Nl1eeSv, July oU-Ine last DAY or the
darvey-Horr silver siege opened this after
noonsin the auditorium of the Illinois club.
Inc days attack was directed at the qucs.
Zion OF the feasibility Of Independent action
by the United States for the remonetiza-
ton OF silver and its free and unlimited
coinage at latlo of sixteen to one. with
gold, regardless of the action of other
{ nations Mr.. Harvey arguing for such &C.
tion, Mr.. Horr against it.
Mr. Horr, coming down to the question
In hand. declared it was useless to try to
nx the relative value of any two substances
Oy legislation Suppose congress should
try to fix the relative value of a bushel of
wheat and bushe of oats. As soon as
one OF them had a large crop up would go
the rates, and legislation by the nations of
the whole world would not maintain the
ratio any more than 1t would make water
run up hill. The law of gravity would
stand IN the way. 1t was so in the matter
OF the ratio between silver and gold. The
law OF supply and demand stepped in there
and the history of the worlds legislation
showed that 1t was impossible to maintain
fixed ratio between the precious metals.
Mr.. Harvey said that when he reached
the matter contained In Mr.. Horr's last
talk, he thought his (Harvey's) answer
would be satisfactory. Continuing his line
OF argument, Mr.. Harvey quoted estimates
as to the consumption of gold for ornament,
In the arts and otherwise, and for boarding,
to the effect that these uses equallcd, If
they did not exceed, the production, so that
the amount of that metal for coinage was
at q standstill or decreasing
Mr.. Harvey then took up the question as
to what Is becoming of the silver being
produced at present He first quoted state
ments by authorities that the increase of
the use of the metals In the arts had grown
so large that there was always ridiculous
~ small supply in Europe. and there was
3 demand for practically all Of the output
itnIS f.$n
Proceeding, Mr.. Harvey said that gold
was irregularly produced and was boarded
by the few rich. Silver, on the contrary,
when more valuable than gold, was boarded
by the mass of the people. thereby con-
ferring general benefit. 1t was for this
reason that silver had been more stable
metal In the past than gold.
The Reduction of Debt.
Mr.. Horr said that Mr. Harvey had the
unfortunate habit of comparing things
which had> relation. That was the mat
ter with his cube argument on gold and
silver. The cubic space which they would
occupy had nothing to do with their value
Resuming his argument and referring to
Mr.. Harvey's statement that the remonetl-
cation of silver would reduce debts by one
half. Mr.. Horn said that by far the largest
5 part of the debts Of the United States were
debts were contracted under the existing
gold basis and to reduce them one-half
would be to repudiate that one-half Mr.
Harvey's proposition would simply result
In silver monometallism. 1t had been
thought that it was possible to clip money
without injurirg anybody. That had been
proved fallacious. He declared that the
cheap money could not he substituted for
good money without injuring the mass of
the people. The people who would profit
by such change would not be the rich,
but the money changers. Mr.. Horr then
: nrOcnp0pd to n no of
pie who work for their living, arguing that
they would be injured by cheap money
Harvey's Cube Argument.
Mr.. Harvey returned. to his cube argu-
ment, declaring 1t was valuable object
lesson. It showed that the Rothschilds
vaults Who was 1t that clipped the coins
In 1873? Who was it that established a
robber standard? Resumng his argument,
Mr.. Harvey said that the gold advocates
feared that the debts contracted in gold
would be paid In silver and the man who
had stipulated to pay gold would have to
buy it at a premium. This was fallaclous.
As soon as silver was remonetized no man
could stipulato for payment in gold; the
demand for gold would decrease, and soon
the difference between the metals would be
d wiped out; soon the purchaser would be
able to get more in gold for what he had
to sell than now. He declared that it was
not the stamp on the coin which gave 1t
value, but the making Of a new use and
new demand fer it. If, at the next general
election, bimetallic congress should be
elected, the Rubicon would be passed the
next day, silver would at once begin to ap-
preciate and gold to depreciate, and they
would be at parity before the meeting Of
congress, as the greenback dollar became
equal in value to the gold dollar before the
resumption act came into force.
Size and Value.
msnt that size had nothing to do with
value. diamond worth $1,000,0O0 could
be put into quail's egg. Mr.. Horr then
continued his enumeration of the classes
of people who, he declared. would be ruined
BY cheapening the measure Of value. They
iRcluded Cay laborers clerks, stcnosra-
piers, railway employees, domestic servants,
janitors and scrub women, skilled labor of
all sorts, agricultural laborers, miners and
the like, in the aggregate 25,G61 In
number In addition to these, he spoke
of the pensioners Of the government. max
ing a touching reference in doing SO to the
empty sleeves of the veterans and the black
robed widows, in number 1,OOO,0 900. 1t was
proposed to cut down the pension rolls by
destroying the value Of the money in which
they would be paid. If this law were
passed their pensions must be doubled or
the nation dlsgraced. In addition to these,
4781, 1896 people had their little savings In
savings banks whom it was proposed to
defraud Of one-half of their little accumu-
lations.
Under Free Coinage.
Referring to the advance In the wages
of domestic servants, Mr.. Harvey said that
since the decentralization women had been
forced to work for their living because
their fathers and brothers were out of
work. This had reduced the number of
women available for domestic service, and
y wages for such service had remained stiff
or advanced Taking up his argument Mr..
Harvey said that under free coinage gold
would decline, while silver and everything
would advance. 1t was claimed that If
silver were granted free coinage our scc,l-
rifles would be thrown over. The rule
was that securities were not thrown over
on advancing prices. Gold was the article
to be got rid Of. for 1t alone would decline,
! he declared.
They say with silver only In circulation
we are on silver basis. They are wrong
4 When. under q law of land either metal
has right to enter the minis and be
coined into money, that nation Is blmetal-
lie nation. The fact that the people have
right to use the cheaper metal IL their
\ aalyation, and secures to them stable cur.