The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-07-27
A BATTLE OF R
Opening of the Great Financial
Debate in Chicago
Between VIM. II. Harvey, Author of
'Coin's Financial School," and Hon.
Roswell G. HOrr, the EX-
Michigan Congressman.

CHICAGO, July 17.-There is now in
progress at the Illinois club what
promises to be one of the most note
worthy oratorical battles ever fought.
The issue is gold or silver for the ma
tional currency, and the champion of
of the one, Roswell G. Horr, of Michi-
gan; of the other, w. II. Harvey, of
Chicago, of Coins Financial School"
fame. The debate, whichwill be delivered
in chunks of about 1000 words each is
expected to continue eight days. To
the upholder of the yellow metal the
privilege of opening was accorded.
According to the agreement Mr.. Horn
was obliged to confine his preliminary
arguments t 1000 words and was an
swered by Mr.. Harvey to the same
extent. Then the Michigan eX-
congressman replied, and was again
followed by the ~expounder of
free coinage. After this both men
stood ready to answer any question
which might be propounded to them
by members of the audience. The de-
bate takes place in the assembly room
of the Illinois club. The room is
fitted up like a small amphitheater,
but there are seats for only 200 per-
sons. Admission is by card only,
and all others interested will have to
content themselves with reading the
accounts of the wordy fray in the
ally papers.
Hon. Roswell G. Horn, in opening
the debate said:
OPENING ADDRESS OF RoswEr L C. HoRR
Copyright 1895, Azel f. Hatch. Chicago.I
JUDGE mi ~GENTLEMEN-It is agreed be-
tween Mr.. Harvey and myself that previous to
entering upon the general discussion each of
us shall make a brief statement defining in a
general way the position he proposes to occupy
In this debate
The question we are about TO discuss is one
not only receiving very great attention among
the people Of the United States, but it is one
that also is receiving some attention from the
nations Of the old world. The question in
wolves the kind Of money that shall be used by
the people OF the United States and has to do
with laws which will affect the great business
interests Of this city.
The question of finance Isl very complicated
one. and there are some features OF it about
which the ableSt men Of the world have been
differing for years.
The foundation OF the discussion upon which
We are about to enter is the small book pub
lished by Mr.. Harvey, my opponent, and enti-
tied 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 once enter
upon The free and unlimited coinage Of
silver upon the old ratio of Is to l..
The wisdom OF such a course 1 dis
pute. Mr.. Harvey will still maintain
the affirmative OF that issue. 1 will
state in the outset that from the beginning to
the end OF the book there is hardly a PROPOSE
ton made to which 1 give my assent. l pro-
pose to controvert many things which are
stated as facts, and shall attempt to prove that
the entire theory set forth by its authority, il
adopted by the people of this country, would
lead only to business disaster and financial
ruin. | don't now remember ever to have ex-
amined a book carefully in which l found so
few statements that l considered worthy Of
belief. and | certainly never saw so many abb
solute errors crammed into so few pages.
lam not here as an opponent OF bimetalliSm.
l believe in the use of gold and silver as money
to the fullest extent that can be done on
sound business principles. Ny position upon
this question has been too frequently stated
within the last five years to be misunderstood
by any one. believe that both gold and sill
yer are the natural money Of the world. That
in all the larger transactions gold is better
adapted to the business reeds OF the people
than silver; that all the smaller business trans
actions of the human family for many years
have been and always should be conducted with
silver. also believe that in all transactions
of the nations OF the world between them
selves the two metals should be uS-d in the
settlement of balances, but only at their com
mercial value. also believe that in the bust
ness of our nation the people should never at
tempt TO use either metal except at its actual
value. only in cases where one metal may be
used as token money and be made redeemable
in metal at its commercial value. have al
ways entertained the hope that the business
men Of the world would yet come together in an
international convention and agree upon some
basis whereby gold and silver can both be used
as the money of final settlement among the
people Of the entire world. L am very clear IN
my idea that, until some such arrangement
shall be made, it would be simply suicide for
this nation to adopt q system of the free COIN
age of 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 ratio upon any two
metals. and name q ratio which will be ac-
cepted by the people OF the world. or OF
the country itself. so that the two
metals will be used side by side. Conse-
QuentIy. if our nation alone should attempt
any such action it would simply Place our
country upon a silver basis, and the attempt
would end in silver recommendation. II we are |
compelled to decide between gold monomeUal- |
liSm and silver monometalliSm then 1 am de-
cidedly in favor OF adopting the standard used
by the civilized nations of the world. l do not
believe that silver has ever been Gemone-
tiled anywhere in the world. l believe
that the law OF 1873. which Mr.. Harvey's
book denounceS as 4 crime" was honestly
conceived, openly advocated and passed by the |
American congress after full deliberation, and
because the people at that time who held seats i,
in the American congress believed that such a
law ought to be enacted l don't believe
in the teachings of this book, that this
nation is on the verge OF financial ruin,
or that starvation is staring our people
in the face. 1 believe if our nation should
adopt the course advocated in this book it
would seriously injure the entire wage earnerS
OF our country and seriously impair the con-
fdence OF the business men of the world in our
integrity as a nation. and that We would
precipitate such q financial panic as our coun-
try has never before seen.
1 shall deny most emphaticaIly that the
great majority of the people Of this country
are in debt and shall insist that three-fourths
OF the American people are to-day creditors
and not debtors, and that consequently the
which Mr.. Harvey advocates would
work great injury to the vast majority OF
American citizens. l will state still further
that IL this book about which we are
going to debate is true then I am all wrong. 1t
seems to me to be devoid of business sense