Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1895-08-01

the demonstration OF silver In 1a78
and after the passage of the law Of
1858. making subsidiary coinage Of less value
than its face Therefore he inferred that San
ator Morrill, was mistaken III stating that none
Of the 4l2h dollars had been coined from
silver mined In this country Mr. Harvey
said that the old dollars OF 4l2H
grains were coined for the people OF
Nevada and California. notwithstandfno
that at that time the bullion was worth more
uncoined than coined. Mr. Horr then denied
that these dollars were coined from silver
mined In this country and sent to the mint
for that purpose Congress had provided
that foreign coin should be received by the
government at certain fixed value
and further that such coins should not
again put into circulation but should be re-
coined at the mint. The report of the director
OF the mint showed that over 85, 0OO. 900 in sill
yer had thus accumulated having been found
In the gold during the process of assaying It.
At this point Harvey challenged Horr's
statement. saying that he had not brought his
authorities with him, and therefore his argu-
ments were entitled to no standing in debate
He then handed Mr.. Horr state
ment OF the director of the mint
which he said reported that during the yea r
1870, AZ, 1872 silver dollars had been coined ut
Carson City. MI. Harvey again called his op-
ponent to task for not combining his rem arks to
the order of debate originally agreed upon,
0uu SdlU tu8t u0 WOulQ not % OlVort00 from
this order He then entered upon dis
cussion OF primary and credit money, say
ing that an overissue of credit money
caused drain upon the primary money
for redemption purposes An example Of this
had last been witnessed In this country in the
issue OF bonds by the present administration
for the purpose OF maintaining the gold re-
serve
MT. Harvey said he had received o letter
within the last few days from q large New
York manufacturer In which the writer stated
that all the money the bank sent him to pay
of his men was In silver certificates
The run on the United States treasury must
continue till the credit money outstanding,
estimated at 81 900, 900 OOO was reduced to the
quantity of gold In this country, which was
variously estimated at from S4OO, 100000 to
5000, go OOO, or the stock OF primary money was
increased. To bring order out OF confusion the
first necessary step was to build up the stock
OF primary money. All credit money rested on
primary money, and II the gold standard was
adhered to the people must look to gold alone
to sustain its credit Each government gold
loan was step towards national bankruptcy,
| temporarily restoring confidence. but finally
resulting In an Increased demand for gold To
correct THIS system the RECOMMENDATION OF Sill
yer was necessary Every moments delay
endangered the SAFETY OF the republic.
MI. Horr TOOK his opponent to task for maxi
Ing mistake IN his figures regarding the
amount OF silver dollars coined In 1870 at the
Carson City mint and asserted that the mint
report from which the silver champion
had quoted sustained Mr.. Horrs propo-
sltton that not any OF the silver pro-
duced IN this country and sold by silver
| owners, or taken to the mint for coinage. was
embraced In that money which Mr. Harvey
said was coined after 1853 The mint report
| showed that from 1870 to 1874. in the mint OF
Carson City, there were only coined 1928 OF
the old silver dollars. The report showed
they were coined from the silver accumulated
In assaying the gold taken to that mint
Mr.. Horr added: Up to this moment Mr.
Harvey has not said one word upon the real
| question In debate, He spent hours to prove
that the law OF 1873 was conceived In sin and
! brought forth tniQuity. l gave short, sue.
cinct history OF the bill and the steps taken In
| ats passage. He has not controverted sin.
gle statement OF mine. He has nowhere proven