The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-07-26

the Illinois Club to-day. The audience
at tue HorrHarvsy controversy to-day
appeared to be rapidly developing the
feeling Of the western mssroa whose
fighting enthusiasm on au exciting oC-
oaaion oPeFcame her other emotions.
Tho husband aud the grizzly referred to
could hardly have attempted more thor
oughly to rip each other up the buck
and elsewhere than did MeSsrs. Aorr
and Harvey this afternoon.
Mr.. Horr opened the discussion. He
began by saying that the 4l2!'grain sill
vsF dollars coined between the yeara
1863 and 1878 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 receivable hut did
not permit them TO bs paid out again,
That WRs why silver was coined at less
than ils bullion value. After 1858 the
government did not coin dollar Of our
silver coinage for private owners,
Mr.. Harvey In reply denied the
statement, and declared that he could
not prove II. Ho presented q mint
statement showing that over 100000
in silver dollars had been coined At the
mint at Carson City, New, in 1870. Mr..
Harvey then resumed tho discussion OF
the question OF primary and credit
money. Ho said that, US soon aa there
was an oyer.issue Of credit money, It
caused mlstruIt OF the goyornmUntS
ability to pay.
Mr.. Horrrsplying, called attention to
q mlIstatemGnt ot the coinage at the
Carson City mint, Instead Of S4l2, ,492,
tho actual amount was Sl2,4O9.
ADMITTED MS ERROR.
Mr.. Harvey said that he had mistaken
the dollar mark for figure, and ad'
miited his orror
Mr.. Horr continued by saying that up
TO tho present Mr.. Harvey had not said
single word Ia pyooi OF tho actual sub
iect OF dispute. He had argued al
length that the act OF 1873 was con.
coivod in sin aud brought forth ia cor
Fuption, but he had not brought any
proof ol it and could not say 1t did not
exist History showed that variation
Of fraction OF per cent between the
commercial and legal ratio between
gold aud silver alWavs drives tho dearer
metal out Of the market. Now, with a
difference Of 81 per cent, what evidence
was there that q Concensus Of the civi.
lized nations-England excepted-could
bring them to parity, much less how
could the United States alone do it2
Mr.. Horr declared that Mr.. Harvey's
object was not 80 much to build up stf.
yer As to pull down gold, as was shown
by his provision for reducing tue size
OF the gold dollar.
Mr.. Harvey, referring back to the sill
yer coinage between 1858 aud 1873, said
that tho silver coined at Philadelphia
was coined into subsidiary money, not
dollars. He added that the premium
on silver was a premium at London aud
that transportation charged would more
thau eat that up; so tho bullion owners
in this country would take 1t to tho
mints for coinage.
Taking into consideration the bank
credits and checks and tho amount Of
money in circulation, the normal
amount OF money necessary for the
transaction Of tho business OF the coun.
try, continued Dir. Harvey. was four
thousand, eight hundred million dol
larA OF this, ono.third only was the
money aud tho rest was borrowed. Tho
inference was plain. The normal
amount Of money which We should
have was four thousand, eight hundred
million dollars. As matters now stand,
hO said, that tho banks were lending
and getting interest on two dollars for
OVcty dollar In circulation.
RAPID FIRING,
Mr.. Horr said that tho question
whether tho banks wOro curse to the
country would DO discussed in its pro-
per place aud Mr.. Harvey would proba'
bly, DO disgustcd with himself whom 1t
was dono for having brought the matter
up.
Returning to his discuWiont Mr.. Horr
said that alatistiCs showed that 100 man.
uiacturOd articles had dCprccatod In
value since 1875 40 average Of per cent ;
silver had dspreciaLed 80 nor cont.
Some other articles had deprecated ai
much owing to special conditions.
Taking up tho statement in Mr. llar.
yoy'H book that IL had cost 81 pOr ounce
10 produce tho silver in tho United
States, Mr.. llorr characterized II as
Aanssnsp. 10 produced statistics oI
di noronL mines, collected by NJ. 5. scnd.
der, showing that ono nine had pro-
dueod At ~ GaRt4 per ounce AMI another
at "a cents. Tho silver miners would
not hayo continued to mlnO silver NJ n
cost Of s2 pOr ouncG whoa tho product
was worth only % cOntn
Mr.. Harvey In turn said that what
MI llorr hal said about tho cost Of
nroducing silver he could havo said
with much moro force with regard 10
gold. silver was only rroducOI from
quartz, most Of thu gold was PRODUCED
! IRON placer ininO. II cost less, dollar
iof dollar, TO ptoduCo gold tllun slIvor.
ilo road from book hy AlOI Drlmnt All
dBintaH that pound lof pOnnbt u cost
moro 10 prohuCO silver than gold, 0r
dollar for dollar 10 TO l., Why did mon
cnntinuu to mtru Htivo' at q loH2 way
did mon gamble ON tho board Oi trade,
whoro II largo majority In'l2 II was
gambling instinct implanted TT tito
human hroaat.
ST. llntycy tlon denounced Mr..
srnddur a. tho tool Ol tho Dankinr IN.
forests, hUnl,uul to tho silver rountry to
leiamD hia nation.
ilGRyEY's NtssrArEMgSra
a "a IL. A