The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-08-01
Dimes, ha1f-dimes and s-cent pieces
are omitted from report.

Dimes, half-dimes and 3-cent pieces
are omitted from report.
one Nation Can Not.
Mr.. Hort had just started to show
that no nation alone can establish the
old ratio of Is to l. state now that
do not believe Mr.. Harvey thinks any
one nation can do it-at least he does
not propose to keep that ratio. He
says in his book ''they say it is not BIZ
metallism unless the two metals stay
at exactly the parity of 16 to 1. These
men do not know what bimetallism is.
It may be desirable to let one metal go,
as it would be now with both as pri-
mary money. We may have bimetal-
lism and bimetallic prices whether one
metal has tendency to leave us more
than the other or not, and if desirable
to stop this leaving a change in the
ratio will do it, and if necessary we can
do it so as to set the other metal going
so that We can feed Europe either
metal we choose" So he is not a stick
Ter for 16 to 1 at all. Now I start out
with this proposition: Nations by
their laws do not fix the value of things.
They can not do it if they try. The
actual value of the two metals at the
present time is wide apart. The ratio
of 16 to 1 is today a thing of the past;
the value of the two metals in the mar
kets of the world has changed all this
| discussion that we have had. How it
happened to have been done, what
brought it about, does not bear upon
this question today. The figures Is to
1 do not represent the commercial value
of the two today, nobody claims they
! do. 1t is useless to talk
about fixing a comparative ratio be-
tween any two substances by Iegisla-
ton. Is there a man living who thinks
all the nations in the world combined
could fix a ratio of value between a
bushel of wheat and a bushel of oats?
Try it on. You viii see where you will
land. If you have a small crop of
wheat up will go your ratio, and law
has no more effect on it than it has to
make water run up hill instead of down.
Does any one think that by passing an
act you could stay the foods of Niagara
and make them run up stream? Why
not? Well, there is a little difficulty
IN the way. The law of gravitation
! stands between you and the accomplish
ment of such an act Consequently
the same thing occurs when you come
to the ratio between any two articles.
They are determined by the different
/ conditions over which legislators have
no control.
Would Raise Prices.
Now, Mr.. Harvey and I both agree
that the free coinage of silver will de-
crease the measure Of value used here
in this country. He doesn't deny that
The burden Of his whole talk in this de-
bate is that we ought to have a cheaper
measure; that the unit is worth too
much. So now we agree that it Will
change the measure. Mr.. Harvey says
then, that is what ought to be done, be-
cause, he says, the whole world is in
debt and our country is on the brink Of
ruin, because the present dollar is too
valuable. That is his position. That
in a position from which I differ
He proposes to relieve the distress Of
the people by letting them pay what
they owe in cheaper money. know
do not represent you in that respect
Mr.. Harvey. I answer him, mo, the
debts of the day, the bulk Of them, have
all been contracted with the gold dollar
as the measure and to relieve the pay
ment of them in any way by trick Of
this kind of reputation"
Mr.. Harvey-When reach Mr.. Horr's
argument as to legislation not con-
trolling the value of gold and silver,
my answer think will be satisfactory
I now continue reading from Professor
Suess. 3 Here in the United States we
produce a little more gold than we use
in the arts, but the portion left for use
as money is growing less. On page 102
of the book on coinage. laws, etc, here
tofore referred to, you get the annual
gold product of the United States. On
page ass of the same book, you get the
gold furnished by the minis to be used
in the arts and manufactures for the
years 1880 to 1892 inclusive I put
these two together and here is the re-
suit I hand this table to the stenog-
raDher to insert in the report:
Gold Production Since 1880.
Production of gold in the United
States and amount used in the arts for
the years 1880-1S92:
Years. Production. Use in Arts.
$780,. ..s36, 100000 $40 1862, 500
1881. 49,. E. "a, 600 II nc, 700
1S82.... 80. 32,500, 600 1855, 900
1888. ..... :. 100000 14,458, 800
1854. :. :. 30.8Oo,0 600 1880, 900
1885 80. -. 31S0O,000 11.824.742
1886. E. -. 35.oO0,OOO 1908. 529
1887. :. 80. 33,0OO,OOO 14,81O, 346
1888. :. 80. 33,175,0O0 16.514842
1889. &C.. :. 32.S00,00 1851, O56
$780,. .... :. 80, $4,000 II 1855 $50
1891. -. 33,175,00O 1860. 916