The Dickinson press., 1895-08-03

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of the years 1893 aud 1894. This latle
showed. Mr.. uorr declared, tia. stree
1874 the production of silver llns been
steadily on the increase, and that 2s.d las
since 1875 been also on the Increase, lut
while silver had increased In quantity three
times during that period gold bad only
doubled In quantity.
Mr.. Harvey went back to the discussion
Of primary money as measure of value.
In 1867, he declared, all the money In cir
culation was $1S.28 per capita, and in 1872
1t was 1913 per capita, and In those TIRES
oil money was primary money, the measure
Of value being paper money ITSELF in 1854
we had per capita circulation uc 81. %.
He then said:
snow, you will say that tho quantity Of
money In circulation affects prices. You
have more money, primary and credit COM
bined, in circulation In 1894. per capita.
than you had in the two years named Ere
then than now. Why? Because lhc:e was
more primary money per capita In tlrC'i!a
tion at the two first named years .hnn
there Is in the last named year. 1S4 of
the $24 per capltn In circulation IT NIL
money in 1894. only about 50 IL primary
money, while in 1857 and 1872 there was
$1s primary money In circulation per cup
ita."
specie Payment.
Mr.. Horr said Mr.. Harvey's definition of
primary money was money of redemption.
Greenbacks had to be redeemed 10 make
| them good, and they could not by any hook
or crook be construed into primary mon ~
Mr.. Horr then said:
'tNow, In 1879 we did return to snec'c c
payment; we did make our grecnbacks anJ
| all our money as good us the best. and
Brother Harvey and his who.e crowd of adj
| herents were going up and down this cou-
| try stating that IL we undertook TO enforce
that act we VIC Md ruin the business Of the
country. know they said it. because
heard them do so dozens AMI dozens Of
times. They believed 1t, just IS Harvey
| does now."
Mr.. Harvey: -"Ycu did not hear III, say
It,"
Mr. Horr: "wcll. IL You were old enough
you did say 1t. A man constituted as you
are could not have sad anything els,."
Mr.. Horr declared that the IS ul'' he
was preaching, as IL lad been demon nate |
by tlr. Harvey, was upheld by every civil
ized nation on the cartl:, end that only
such countries as China, NJ xico AMI japan
MI. Harvey denied that ilr. Horr was
Justified in calling him greenbacker, and
said that he believed in gold and silver as
primary money to the fullest extent under
bimetallic laws that governed 1t prior tO
1873. In relation to the claim of Mr.. H0rr
that all the civilized nations of the earth
were In favor of the gold standard Mr..
Harvey said that all the civilized nations Of
the earth were at one time slave-holdinE
nations, and the individual Shareholders had
made precisely the argument advanced by
Mr.. Horr. He then went back to credit
and redemption money, and declared that
credit money may be issued by the gov
ernment with safety only in such quaint.
ties as will not embarrass 1t In
case run Is made on the gov
ernment for redemption. If the gov.
ernment requires redemption money
1t can float bonds among Its own people to
primary money 1t needs No government
should ever borrow from the people of an
other nation. To do so was a cofession OF
monetary weakness. No government, he de-
clared should issue credit money In quan.
tity beyond the amount of primary money
among its own people, and 1t should have
| no money In Its treasury except for Its cur.
rent expenses and improvements. The
money should be among the people.
This closed the debate for to-day, and MI
adjournment was taken until Thursday.
Chicago. July 26-"Go it, husband; sc
1t, bear" seemed to be the motto In the
Illinois club to-day. The audience ut the
| Horr-Harvey controversy appeared to be
rapidly developing the feeling of the West
ern matron whose fighting enthusiasm on
an exciting occasion overcame her other
emotions. The husband and the grizzly re-
ferred to could hardly have attempted more
thoroughly to rip each other up the back
and elsewhere than did Messrs. Horr aud
Harvey this afternoon.
Mr.. Horr opened the discussion. He be-
gan by saying that the 412h grain silver
dollars coined between the years 1853 and
1873 were all coined at the Philadelphia
mint and from foreign silver coins which
had accumulated In the treasury under an
act of congress which made them receiv-
able but did not permit them to be paid
at less than its bullion value. After 1853
the government did not coin dollar OF
our silver for private owners.
Mr.. Harvey, In reply, denied the state
ment and declared that he could prove 1t.
He presented mint statement showing
that over $4,000 in silver dollars had been
coined at the mint at Carson City. Nev.,
| cussion of the question of primary and
credit money. He said that as soon as there
| was an over-issue Of credit money 1t caused
distrust of the governments ability to pay.
| This caused run ON the treasury for the
redemption Of credit money. and the only
remedy was to either increase the amount
Of primary money or decrease the amour,
of credit money. The amount of gold 10
the United States was estimated at from
$4OO OOO, 900 to 5000, 900, 600 and Of our credit
money about $1.O00,OO0,OOO. This was toe
much credit money, he said. and accounted
for the country's financial arrangement
The remedy was to increase the primary by
remonetizIne silver. Every moments delay
would endanger the safety of the republic
Difference In Figures.
Mr.. Horr. replying. called attention to
misstatement of the coinage at the Carson
City mint. Instead Of $4l2, ,402, the actua
amount was $l2,402.
Mr., Harvey said that he had mistaken tn
s mark for a figure 4 and admitted hi
| error.
Mr.. Horr continued by saying that up t
the present Mr.. Harvey had not said I
single word In proof Of the actual sub1ec
In dispute. He had argued at length thu
brought forth In corruption. but he had no
brought any proof Of it and could not; i
did not exist. History showed that varia
ton Of fraction Of per cent between tn,
commercial and legal ratio between gol'
and silver always drove the dearer meta
out of the market Now. with difference
Of 80 per cent. what evidence was Their
that q concensus Of the civilised nations
England excepted-could bring them to
parity; much less, how conld the Unite'
States alone do 1t. Mr.. Horr declared tina
Mr.. Harvey's object was not so much t
build up silver as to pull down gold, as wa
shown by his provision for reducing tn
size of the gold dollar.
, Mr.. Harvey, referring back to the silve
| coinage between 1853 and 1873. said tina
/ the silver coined at Philadelphia was coine
, into subsidiary money, not dollars. H
added that the premium on silver was pre-
MUM at London. and that transportatio
charges would more than eat that up; .
} the bullion owners In this country woul