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

normal demand for money. 1t needs 1t Just
MS it needs q normal supply of wheat For
each dollar In existence We are paying the
banks interestlon two dollars This is the way
the banks work up the actual volume in ex-
istence to the normal volume. With 81, 600 :
600 GOO In existence, the people are using It ana
paying interest Oh s.. $40 00s additional
This interest varies from to II per cent. The
banks are Interested In holding down the
volume OF money and supplying the
remainder needed with their credit system.
They take the quantity OF money In exist.
tence and stretch it like Q piece OF rubber
And they sometimes let loose OF their end. It
Is used to mould public opinion in their In
terest. II can be truthfully said that all
money IN circulation represents borrowed
money. 1t is human nature, known to all men.
that most debtors are moral towards Money
is the lash they are afraid Of and the money
lenders hold the whip hand
Mt Horr--Whenever silver mining costs two
dollars an ounce, men who are in it paying
their expenses and can only sell 1t for sixty
cents will quit that business the world over
The mines that are mining silver at less than
sixty cents will keep right on in the BUSH
ness. Now. Mr.. Harvey, the fact that these
mines have been running since 1879, according
to your own statement, when the full effects of
decentralization took place, with silver going
down and down, II the productionyi is Increased
from year to year. that OF itself proves. and
no man can gainsay Il, that they
are still making money at the price, or
they would not stay In that business
They could not Hence this effort
of Mr. Harvey Is to get sl..9 out OF the entire
people Of the United States for an article that
than sixty cents an ounce Was there ever
such class legislation attempted in any coun-
try, to compel the people to pay for q thing
three times as m UGH as 1t .osts to produce it?
The men who own mtnes and those who owe
sums OF money in excess of the money due
them may be benefited by this cheap money
scheme, but the rest of the people will receive
nothing but injury.
y Mr.. Harvey-What Mr.. Horr he's said about
1 the cost OF producing silver he could have said
with q great deal more force about the cost OF
producing gold Gold. dollar for dollar. costs
q great deal less than silver to mine. Over
80 per cent. OF all the silver produced
comes from prospects where men are trying
to make mines. mines that are Lot paying in
either gold or silver. or both. and they
are shipping that to get back what they
can. There are only three or four silver
mines left IN the United States that are
paying, aud they are running precartous-
~. e WhyY Because all mines are uneven
and uncertain and may be lost In q week from
now. The shy locks OF old loaned their own
money. The shylockS OF to-day have . system
by which they loan other peoples money,
They are defending that system.
Saturday.
CHICAGO, July so There wax an attendance
of between seventy I've and 100 listeners Sat
urday when Mr.. Horr inaugurated the next to
the last session OF the great silve. debate. MY
1z11orr opened by quoting report OF the
finance committee Of the United States senate
for the purpose of showing that gold had not
appreciated since 1873 and challenged his OPP
kSr o{r h.acfY 10