The Redwood gazette., 1895-07-25
THE BIG TALK is ON
HORR AND HARVEY BEGIN THEIR
FINANCIAL DEBATE

"Coin's Financial School" the Basis
of the Discussion.
CHICAGO, July 18.-The field OF the
cloth of gold, with the significance OF
chivalry, is outrivalled in Chicago. In
elaborateness of arrangement at least
and celebrity of combatants, the ma
iority Of spectators present were per-
suaded rightly or wrongly that the up.
to-date tournament equalled, If 1t did
not surpass, the famous occasions when
the knightly champions OF old had a
ioust that challenged the attention OF
Christendom.
This affair is strictly modern in every
detail, and if lacking in display OF tin
sci and plumes seemed all the greater,
to the witnesses who took it in all
seriousness, that it was contest OF
intellect instead of muscle. Certainly
both sides displayed an earnestness ana
vigor worthy of an encounter that 1t
was apparently felt by them would at
tract the keenest national and perhaps
international interest.
Nothing Ever Like 1t.
No such "big TALK had ever been
planned before, it was claimed, as this
10 day go-as-you-please match between
the chosen representatives of the oppos-
ing sides of the money question Kos
well &. Horr and William Harvey.
1t was about 2 p. IN. when the witty
ex-congressman from Michigan, now
resident of New York, and the sharp
Colorado newspaper man, now citi-
zen of Chicago, signified to the judges
and the select audience present
bv invitation at the Illinois
club, on Ashland avenue, that all was
in readiness for the successive 1000
word broadsides that with three minute
rests were to last three hours day for
ten successive days. The judges were
ex-Solicitor General of the United
States Charles Il. Aldrich and Hon.
Henry Miller.
Their Positions Defined.
Before the debate proper was begun,
Mr.. Horr and Mr.. Harvey, by an agree
ment between them, each made state
ment of his position and what he ex-
pected to prove. Mr.. Horr stated that
he had never read a book in which he
found 80 much of error and so little
fact as was contained in "Coin's Finan-
cial School," which is taken as basis
for the discussion. He expected that
proved that this was the case. On the
other hand, Mr.. Harvey expected to
prove that the propositions set forth in
that book were substantially true, and
he summarized them into propositions
for the purpose of showing briefly what
they We're:
l. That silver and gold are the
silver dollar was the unit of value in
our coinage system in this country
from 1892 to 1878, just as the yard
stick was the measure of length. That
gold was measured in this silver unit,
and concurrent coinage given to it
(gold); that silver and gold combined
constituted the legal standard of value
in this county till 1878; silver measured
gold; the two together measured all
other property.
2. That the act Of 1878 was surrep-
titiously passed.
3. That during the period 1892 to 1878
the mlnts were open to the unlimited
coinage OF both metals into primary or
redemption money, and that both were
treated as such. That during that
period people had right to have either
metal coined into full legal tender
money, and that the option was with
the debtor to pay in coins of either
metal
4. That this bimetallic system made
an unlimited demand for both metals
to be coined into money, increased the
demand for these metals, and so long
as this law authorizing anyone to coin
S7l14 grains of silver and % 2-10 grains
of gold into dollar, there was no one
willing to sell either for less than a
dollar.
5. That the option to pay in either
metal caused the cheaper of the two
metals to be used, and transferred the
demand from the dearer to the cheaper
metal, and restored its relative COM
mercial value. We are for both silver
and gold. We are called silver men
because we are defending the metal
that has been demonetized.
&. That it is to the interest of the
United States to act Independently in
the remonetization of silver at the ratio
to gold of 16 to 1, without waiting for
the action of any other nation.
Z. That monometallism consists in
the use Of the dearer Of the two metals
to the exclusion of the other, as pri-
mary or redemption money. That mon
ometallisnf is an experiment on trial
for the first time in the history of the
world, and began with the period 1873.
That it is impractical and impossible
as stable money measurement of val.
ues; is not based on scientific financial
principles; is in the interest of the
money lenders, and against the inter-
est of the property owners and laborers.
8. That the gold unit, as the meas.
ure of values, with no concurrent coin
age, or another metal to assist it in
performing the functions of primary
money, has caused the fall in prices, as
compared with 1872. when the world q