The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-07-27


money quality OF half the gold IN the world
you would not change the price OF the metal
ono-half As soon as the price would 20 up
there Is an enormous store laid away over the
entire world that is not being used for money
purposes that would nj once seek the channels
and be coined into money and take the place OF
the money that had boon destroyed
Referring 10 his previous quotations from
Mr. Harvey's book. Mr.. Horr said he read
them for the purpose OF getting at what the
author desires 20 reach By the free coinage OF
silver, and ssid that what Coin" Is really
after Is cheap dollar, He would reduce the
value OF the money unit OF this country
one half Mr.. Horr protested against the
whole scheme, because 10 is an effort 20
cheaper labor The greatest commodity ever
placed on the markets OF the world fs labor.
Is II best 20 cheaper the unit OF value and de-
crease the purchasing value OF our doilarf He
was a believer In cheap prices and only OPP
posed them when the cheapening OF the price
Is ut the expense OF the men who do the work
Mr. Harvey said that his opponent argued
that the dear dollar is OF more benefit 20
laborcrs than cheaper dollar He did not
intend TO let Mr.. Horr cloak himself behind
the laboripg man. you have cut IN two the
number OF days that tits possible for men 70
find labor" he said; you have put anywhere
from 1000 900 10 & 900 COO laboring mon out OF em
ployment In this country entirely. and 70 those
lnboring men who are now destitute, and many
OF WHOSE lctuCfh uFt now lying III lAllt you
sing the sweet songs OF the high purchasing
power OF the gold dollar-when he gets IT,
Mr.. Harvey then dolved into question OF ratio
and bimctallism and reviewed the historical
position OF silver In European countries
Returning 10 the relation free coinage bears
toward the laboring man. Mr.. Horr said: lin
1872, when the question OF metallic money
became prominent In this country, we re-
sumed specie payments, and the only
money OF Anal redemption was gold. DO you
tell me that distress was abroad Ia the land
from that onf Any man who says that must be
ignorant OF The history OF work In the United
States Since this nation began. the years
from 1872 10 1892 found our people better en-
ployed and at better wages than ia any other
same number OF years since this government
was formed. -Four millions OF men TO day out
OF employment Where did you get your fg-
uresf"
Mr.. Horr-There isn't any truth In either
statement. In the years iss9-ee was
IN thirty-one states oil this union and
during tho entire time did not
visit city whore the people were not
well employed at good wages and know that
any man who says that from 1879 TO 1897 this
country wns in financial distress and that the
iaborIng men were not then we'll employed is
not we'll qualified 10 talk upon the subject. be-
cause that is not the fact
Mr.. Harvey congratulated the people on Mr.
Horr's frank admission that over-production
cuts no figure 10 this controversy
Mr.. Horr--I never said that
Mr.. Harvey referred TO the national elections
from 1884 TO 1892 and said: NOW. since 1892
food OF calnmities has come. Don't you in
this debate refer TO the prosperity OF this conn-
try from 1879 to 1895; don't you refer TO the
prosperity that has built up millionalrcs and
multi miilionaires and strown this country
with millions OF tramps and paupers and men
"A HunVv IN fbau al voipu In
vide for their families In the coming year.
Tuesday.
CHICAGO. July es.--No evidences OF fatigue or
lack OF breath were apparent In either OF the
principals In the Horr-Harvey debate when
time was called for the sixth round Tuesday.
Mr.. Harvey led with vindtcatlon OF
the Importance OF the debate which, no said,
rested upon Ave historical reasons:
l. For 200 years prior 10 the demonetiza-
tion OF silver In 1873 silver was seeking tho
minis OF the world for coinage into money
2 For 200 years prior TO 1873 there wns no
variation between the commercial and the
legal ratio OF 1b1f 10 !. During the twenty
two years since 1873, however. the two ratios
had separated widely, and gone from 1915 TO
10 about 80 TO l.
For 1913 years prior TO 1873. the quantity
ratio between silver and gold ranged from 90
OF silver 10 OF gold TO 4 OF silver 10 l OF gold,
but Notwithstanding this wide variation the
commercial ratio had chung tenaciously TO the
legal ratio.
4 The price OF silver in the London market.
as measured In gold. up TO 1873 was practical
~ steady, while since that date silver had de-
cllned from "a nenea per ounce To % z pence
per ounce,
That this violent fluctuation I'm the prico
OF silver has been going on ever since It's de-
ncnetizatlcn and Is going on to-day
Mr. Horr did not reply directly TO his OPP
ponent but took up Mr. Harvey's statement
OF Monday that but one error had been found
In his work, saying that there wero myriads
OF mistakes, not In express ttatomcnt OF
facts, but by false implication which any
man OF sense would repudinte on sight
Az this point Mr. Horr created some
dcrislon nc tbs expense OF Harvey by saying
that he did not deny that his opponent be-
licyed all he had written. As q matter or fact.
IL was impossible for him TO tell what
man in Mr.. Harvey's state OF mind might
be capable OF believing. The statement In
Coins Financial School that every
ounce OF silver produced up 10 the present
time had cost the producer two dollars an
ounce was secuted by Mr. Horr II the mine
owners had been producing silver az this cost
and selling II. as they had been doing &C from
also 10 &5T On ounce, they had lost by tho
transaction during the past three years some
s236 100000
The next point OF attack was the statement
OF page bS OF Harvey's book that the people OF
this country nre annually paying TO England
S2o000o,000 In interest on national and private
bonds Mr.. Horr denied this proposition fiat
IT, and challenged anyone 20 produce evidence
that the Indebtedness OF the people OF this
country TO oil the nations OF Europe involved
anything like such an amount OF interest.
Harvey then took his opponent 10 task for
skipping about the book to nnd substance for
his remarks instead OF combining himself 70 the
regular order OF proceedings as agreed upon,
ana said that he would not be diverted from
mis- original plan by such tactics.
Mr.. Horr-Thc answer I'm your book OF hodge
podge and errors that thu governments can
create a demand for d commodity has mlsled
thousands Of honest and unthinlklng people.
Ny friend here. Dr. Robinson, says IL Is
using a seeming truth TO lie with,
which Is tho most crafty and dangerous
kind OF false statement You used
On illustration 20 teach that free coinage
would create an unlimited demand for silver
and increase It's value In tho markets OF tho
world Under such coinage as you advocate sll-
yer would be received by Tho government
coined. and then. IN effect, returned TO the
owner again He might not get tho same dol
lars coined from the Identical silver which ne
took 20 tho mint. but he would get those