Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-07-17

(Copy right, 1s9j. b. Azel F. Hatch
The first OF the series CT debates be-
tween Hen. Z. G.. Herr and W. H. Harvey,
Esq, author Of Coins Financial School,"
began in the Illinois clubhouse at p. m.
The chamber that had been prepared for
the occasion was full to its utmost capac-
i:y Of interested listeners. When the
gathering came to order Dr. Thomas, Pres
ident Of the Illinois Club. welcomed the
guests Of the club in brief address and
presented the judges of the discussion, Hon.
II. J. Miller and Judge W. A. Vincent.
Judge Miller then stated the conditions Of
the debate (which have been widely pub
lished). the principal feature of the same
being that the talks Will be a running
fight" as 1t were. The judge then intro
duced Hon. Il. G. Herr, who opened tie
debate.
Mr.. Horr preceded to make brief
statement defining the position he pro-
posed to occupy in the debate. He said in
part that the foundation CT the discus
sion upon which We are about to enter is
small book published by a.r. Harvey. my
opponent. and entitled Coins Financial
School The real aim and object of that
book is to convince the people OF the
United States that this government alone
should at oLce enter upon the free and I'M
limited coinage Of silver upon the old ratio
CT Is to l. T..c wisdom of such a course l
dispute. air. Harvey will still maintain
the affirmative CT that issue. l will state
in the outset that from the beginning to
the snd of the book there is hardly pro-
position made 10 which l give my consent.
propose to c.utrovcrt many things which
are stated as Facts, and shall attempt to
prove that the entire theory set forth by
GOD boz No No. of 10
country, would lead only to business dis
aster and financial ruin. l do rot now re-
member ever 10 have examined book
carefully in which l found SO few state
ments that l consider worthy Of belief and
certainly never saw so many absolute err
rcrs crammed into so few pages" laugh
teri
Mr.. Horr said he did not oppose bimet-
| ellism, but believed in the use of both
| metals to the fullest extent that could
| safely be done; that in all large tran
factions gold was the best to use, and that
| in all transactions between nations the two
| metals should be used only at their com
mcrcial value. He was believer In an in
| ternational agreement en- ratio. and was
| Every clear in my idea that until some
such arrangement shall have been made II
would be simply suicide for this nation to
adopt a system of free coinage CT silver
| upon the old ratio. a ratio which all the
| civilized nations of the world have long
| since discarded. l do not believe that any
| one government can fix the value upon
| any two metals and name ratio which
| will be accepted by the people Of the world
| or OF the country .tself,so that the two met
ais will be used side by side. - l do
not believe that silver has been demon
cited anywhere in the world. / believe
that the law CT 1873, which Mr.. Harvey's
| book denounces as Q crime, was honestly
conceived. openly advocated and passed by
| the American Congress after full de!ibeTa-
ticn. end because the people ct that time
who held seats in the American Congress
believed that such a law ought to be en-
acted. - believe II cur nation
| should adept the course advocated in this
book It would seriously injure the entire
| wage-earners of the United States.
| shall deny most emphatically that the
| great majority Of the people CT this coun-
try are in debt. and shall insist that
three-fourths of the American people are
creditors and not debtors.
| will state still further that if this book
| about which We are going 70 debate is true
| then I am all wrong. uaushterD 1t
seems 20 me 10 be devoid OF business sense
from beginning to end, and l shall enter
spon the work of attempting to prove that
and kcpe to be able to do in language
that shall be so plain and explicit that my
fellow ciizens will be satisfied that have
accomplished my task"
Mr.. Harvey: / am here to defend the
facts and principles in Coins Financial
| School," / expect to make good in this
debate tbs following propositions:
\ 49, M
the Constitution. That the silver dollar
| was the unit OF value in our coinage sys-
TEN in thi; country from 1892 to 1873, just
as the yard stock was the measure OF
length. That gold was measured IN this
silver unit and concurrent coinage given
to 1t (gold). That silver and gold COM
bined constituted the legal standard OF
value in this country till 1873. Silver meas
ured gold: the two together measured all
other property.
2. That the act of 1873 was surreptitiously
passed.
3. That during the period 1902 to 1878 the
minis were opened to the unlimited coin
age CT both metals into primary CT re-
demption money. and that both were treat
ed as such. That during that period peo-
pie had a right to have either metal coined
into full legal tender money ard that the
op:icn was with the debtor TO ray IN coins
Of either metal.
4. That this bimetallic system made an
unlimited demand fer both metals to be
coined into money, increased the demand
for these metals, and 20 long as this law.
authorizing any one to coin BIB. grains of
silver and % 2-Io grains OF geld into dol
lar. there vas no one willing to sell either
for less than dollar.
5. That the option to pay In either metal
: caused the cheaper CT the two metals to be
used and transferred the demand from the
dearer TO the cheaper metal and restored
its relative commercial value. We are
: called oliver men because we are defending
the metal that has been demonetized. but
We are nevertheless fer both gold and sill
yer.
C. Tha. IL is to the interest OF the United
States to &C. independently in the remon-
etizaticn OF silver at the ratio to gold Of II
, to wi;hou, waiting fer the action Of any
ether nation.
Z. tina, monometallism consists in tbs
use Of the dearer Of the two metals to the
exclusion Of the other as primary or re
demp.ion money. That mono-uetallism 1.