Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-07-25
THE SILVER DEBATE.
HORR AND HARVEY TALK
TO THE POINT.
Back Dates Thrown to the Dogs and the
Discussion Brought Down to the Issues
That Interest People Now ON Earth
Points Made by Both Speakers.


the debate between Horr and Harvey
1t was more than ever a case of Greel
meet Greek, and interest in the tug o
war heightened at once when it wa
seen the days of Pericles, as well a!
1872, 1878 and other years, no matter
how historic or important, were al
barred more or less in favor of 1896.
Mr.. Horr opened the dispute with q
written argument touching the impos
sibility of maintaining a fixed ratio
between gold and silver. As the re.
suit of experience all the civilized ma.
tions of the globe had discarded silver
as q standard money. 1t was useless
to exploit long tables of ratios to show
whether double standard could be
maintained. The world had pro-
nounced against silver.
Mr.. Harvey defined scientific bimet-
allism to be the free coinage of both
gold and silver at an assumed ratio; a
change in the size of the gold dollar
whenever the parity between gold and
silver coins should require; the option
to both individuals and the govern
ment to pay in the cheaper metal. He
held that under these circumstances
silver would not depreciate, because
there would be an unlimited demand
at the ratio fixed by law, and no man
would sell his bullion below the price
at which he could have it coined. Mr..
Harvey submitted table to show that
from 1857 up to 1873 the commercial
ratio had remained remarkably close
to the legal ratio Notwithstanding the
demonstration of silver by England
and other of the great nations of the
old world.
Mr.. Horr said this matter of ratio
has little or nothing to do with the
question. The fact was that all of
the civilized nations of the world re-
fused to recognize silver except at its
bullion value. For us to attempt free
coinage alone was another matter.
Mr.. Horr then took up the proposition
of Mr.. Harvey's book that making, the
dollar of onc-half the present value
would double the value of everything
in the United States except debts.
Mr. Horr pronounced this absurd, say
ing we might as well say that if we
cut our yard sticks in two it would
double the amount of cloth in the
country. He said Mr.. Harvey seemed
to be 'stuclS on" sweet $40 to l." In
his book he proposed to keep metal
values at a parity by reducing the
amount of gold in the gold dollar.
Carried to its legitimate results, the
4 n -. -
Mr.. Harvey proceeded to argue that
both gold and silver were the measure
of values until 1873. Referring to the
cutting of the yard-sticl1 in two, Mr..
Harvey said that the gold men had
doubled the yard-stick in 1879
Mr.. Horn, IN reply to the charge that
the characterization of silver cut the
value of products in two, said that
if that were true prices would
have at once dropped fifty per cent.
The fact was that they did not. If the
destruction Of half the wheat crop
would raise prices four-fold the de-
monetization of silver did not DESTROY
it. Returning to the attack, Mr.. Horr
said that Mr.. Harvey did not care for
ratio. What he wanted was a cheap
dollar, and the cheapening of the emol-
uments of labor That was the most
prosperous country in which its work
men were best paid.
Mr.. Horr said that it was in 1879
that we resumed specie payment, and
the only money of final redemption
was gold. He asked, "Was distress
abroad in the land from that on?" The
fact is the years from 1879 to 1892
found our people better employed and
at better wages than in any other same
number of years since the government
was formed.
Mr.. Harvey; "As to the prosperity
of this country between 1879 and 1e92,
you could not break down great ma
ton like this in oneyear. 1t has taken
short period to bring us to the bitter
cup of disappointment and distress"
Continuing, Mr.. Harvey asked Mr..
Horn not to refer to the 'prosperity" of
the country from 1873 to 1895. The
word tramp was coined in 1878, and
the United States census shows that
depression has been increasing at a
disproportionate ratio. So has the
huhlDOA VI HCnlLSllIldly GOuNlClSi per-
sons confined in almshouses, insane
asylums and of suicides. The pros
perity that has built up millionaires
and multi-millionaires and strewn this
country with millions of tramps and
paupers and men who don't know how
they are going to provide for their
families in the coming year. ZAP
plause) A change in relative produc-
tion had no effect as long as the minis
were open to the two metals"
applause.
Mr.. Horn: II have never said that
the cheap price of silver was not on
account of its over-production. Silver
has become cheap in this world Just
precisely the same as wheat, and iron,
and zinc, and lead, and other articles
have been cheapened, just precisely
for the same reason. (Applause.) All
of these articles, as well as gold, have
been cheapeued by the natural laws
which govern the production of every
substance known to the producers of
the world"
This ended the debate for the dav,
and questions were submitted from
the audience.
An Ex-sheriff Shot Dead.
OZARK, Mo-, July IA. c. Grain