The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-28

Chicago. July 27-The last day but
one of the Harvey-Horr silver conten-
ton began this afternoon
Mr.. Horn opened with a comparison
of wages and cost of productions from
1860 to 1890, as shown in a table pre-
pared by Statistician Carroll D.
Wright
Mr.. Horn proceeded to argue that
at no time in the history of the ma
ton was it nearly as prosperous as as
this time. in spite of the crime OF
10" He submitted that his statistics
were more applicable to the conditions
under discussion than those OF Or.
Sauerbeck, quoted by Harvey on
Thursday. Mr.. Sauerbeck's figures
were made on prices in England.
Mr.. Harvey. in turn. took up the
prices of wheat for a series of years,
in reply to Horr's statement on Thurs
day. that the farmer received as much
for his produce in gold as he received
before silver was demonetized. For
answer, he quoted prices from year to
year. He declared the arguments of
Horr were those used in all time as the
OuAN al n u tyranny IlE uECldIdLlOn
of independence was the proper an
swer 10 such arguments. The proper
index to prices was h measure them
IN articles OF International uses The
tables were made up by gold men, and
even on these articles showed they
were lower than in 1850
Referring to HOrr's argument touch
ing the measure of value in human
toll Harvey quoted from an article by
Horr in a New York paper. in reply to
a correspondent. who suggested max
ing so much work equivalent to one
dollar. Horr declared the proposition
absurd and confusing.
Coming to a Close.
Mr.. Harvey said: ''This debate is
coming to q close virtually today, be-
cause on Monday I shall speak exclu-
sively upon the independent action of
the United States"
Mr.. Harvey denied Mr.. Horr's asser-
ton that falling prices were the re-
suits of improved facilities. Mr.. Har-
vey said it is the supply produced
and the demand for it that regulates
the price of such products. Suppose q,
widow owning a. farm receives the
voluntary assistance Of her neighborS
to raise and harvest her wheat crop,
will her wheat be worth any less than
the price fixed by the quantity OF
wheat in existence known to the trad
erS and the estimated demand for it?
If all the corn crop in the United
States were destroyed except the crop
in Iowa, would the Iowa. corn price be
governed by the cost of production or
the relative supply and demand for
nothing to do with it. A man may pro-
duce an ounce of gold for 10 cents.
that is worth $40. The fact that II
only cost him 10 cents does not make
it worth less than $40.
Harvey is Mystified.
Mr. Horr-Mr. Harvey is nIystifisd
because he takes it for granted that
the business of a country entirely de-
ponds upon the amount per capita Of
the circulating medium. He insists
that if you shrink that you ruin the
business in the country. There are a
large number of men who believe
that doctrine, but no more transparent
humbug was ever taught the people
of this country or any other country.
Money is a plethora in this country to-
day There are hundreds OF millions
of dollars lying idle simply because
there is nobody to use it. Did you
know that? Why. my friend Harvey
and all you men who talk that way
as usual get the cart before the horse.
1t is not abundance of money that
makes business active; it is business
that makes money active in this world
of ours. (Applause) And until you
can comprehend that point Brother
Harvey, you viii never understand this
financial question at all. Qaughter.)
Mr.. Horr explained that the Suffi-
cheney or lack of suff1ciency of bank
ing facilities had much TO do with the
question of the necessity Of a. large or
small per capita circulation. This
country has per capita Of S26.02.
Canada has SO per capita, but Can
ada has an elegant banking system,
no better on the face of the earth than
the Canadian system of utilizing
banks. Switzerland. one of the most
little nations on the face Of
the globe, has only $144S.
Ratio of Money.
The ratio OF money to the population
proves nothing. What we need in the
United States is good wages for work.
steady employment for our men and
we have got money enough to do twice
the business We are doing. (ApplauSe.)
Mr.. Harvey-At the conclusion OF
this debate Mr.. Horn and have $500
words each at our disposal to write at
our leisure within seven days after the
debate, to sum up the debate and any
thing in Mr.. HOrr'S argument that I
do not reply to today 1 will attend TO
in that summary, because there is only
a short time left to US, and want TO
answer some matters that have been
introduced into this debate at the ear
lier stages. 1 want to speak a few mo-
ments ON the proposition that wages
have increased.
Speaking of organized labor. Mr..
Harvey said:
Organizations sustain wages for
those actually employed while engaged
at work. but when you average the
wages by including the unemployed
and include the expense and time lost,
it does not do. so. Make the calculation
this way, and you will find that the
gold basis has measured Itself in wa
ges with mathematical accuracy.
Not Healthy.
5nTbis condition is not healthy: IL Ia