Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-08-29
sEvLNTH ~DAY--CoNrINuEp

demand regulate the value Of money
tbs same IS of all other property. Thi
the people already know. They onl,
need to be reminded of it."
Mr.. Horr then starts in to defend
the bankers OF the United States
After giving them great praise he pro
duces a table of the production of tn,
gold and silver of the world since 1873
and winds up his argument with the
following:
snow this table shows, and the table
that he exhibited to you and exhibited
around shows the same, sol far as il
goes, that since 1872 the production Of
silver has been constantly on the in.
crease. Gold, since 1875, has been
constantly increasing in quantity, too
but gold has increased since 1871
from S90,75O,OO0 worth in one year to
sl31,5O0,O0O, just about double. Silver
in those same years has increased
from S~7l,5OO,OOO up to l ,3S1 coo;
while gold has increased only twice
silver has increased just about three
times"
HARVEY ASKS TO FIGHT AT CLOSE RANGE
Mr.. Harvey-Mr. Horr began the
last time by getting out Of the book we
are discussing and brought into this
discussion another book that l have
written. Now, why does he do that?
If he will only stay / nthe harness with
me in this debate where / can get at
him, and at the same time devote the
words at my disposal to the subject we
have agreed to debate, it seems to me
it would be more proper. (Applause.)
"His fondness for protecting nat
ional bankers probably lured him out
Of the book we are debating. Zap
plause.) I say now that l refuse to
discuss anything outside of Coins
Financial School that is not appro.
pirate to the subject under discussion,
but will add that all Of you who will
write a letter to David Gore, auditor,
Springfield, ILL.,, will get the conflrma-
ton OF what Mr.. Horr attacked in up
to Date (Applause.) When l reach
it l will follow Mr.. Horr closely and
drive him from every position he is
taking in its proper order.
HE says that is right. To illustrate
this in the school / used wheat certia-
Gates and said that these certificates
issued against the wheat in Chicago
elevators did not increase the ex-
changeable value of wheat with other
property. The certificates represent
the wheat and facilitate business, but
do not give any additional value to
wheat. In fact, the price of wheat is
now lower than it a before the use
of wheat certificates was introduced.
Neither does paper and token money
representing gold effect the value of
gold or property, except in the sense
of facilitating exchange. They are
each a medium of exchange, but not q
measure of values. Primary money
fixes the sea level Of prices.
LESSON FROM MEXICAN MONEY.
Paper money circulated with US did
not take away from silver and gold
prior to 1873, or from gold since then,
any OF its exchangeable value, nor did
it add any to coin prices with US COM
pared with prices in California, where
there was not paper money. Mexico
has no paper money (see article,
"Romero, Mexican Minister" in June
number North American Review, and
ret wheat is worth there s1.3O q bushel
In silver-the equivalent 6f our gold
price for wheat here, where we have
paper money representing gold. And
corn in Mexico is worth el.5O bushel
more than its relative value here In
gold, where we have credit money to
reinforce gold, and Mexico has no
credit money to reinforce its silver.
sWhen the law makes . certain
metal the measure of values, as it now
docs gold, or two metals in concurrent
coinage the measure of values, 1t is q
mistaken idea that paper or tokens
issued to represent this money in
or decrease their exchangeable
value. except in the sense that they
may fasilitate the exchange. Nj. Horn
says in the Weekly New York Tribune
Of June 10 1.-THE paperis here Mr.. Horr:)
sPaper money Is worth only the value
Of the money in which It ID redeemed
And Mr.. Horr is right.
Mr. Horr: ut Isn't . question that
q little boy like Coin could under
stand. perhaps, but is q question that
thinking men will zee In 9 moment.
Whenever you make an invention, an
Improvement, 90 that by machinery
vou cheaper the cost Of production,
fheApric1 Of the article will 60 down to
the lowest point that It can possibly
set toward this new cost OF production,
6nt always stops with the highest cost
to the men who stay in the business Of
sFor instance, we had been paying
years ago 81 q pound, and . good deal
more. FOR aluminium. It used to cost
that In actual work In expense to get
4 pound Of it. Now aluminium Is with
out limit in the crust Of the earth
almost. Scientific men toll us that
IA composes perhaps one-tenth OF the
entire crust Of the earth. Every clay
hed a from toto topper cent. aluminium.
Every shale rock II loaded down with
if. and the trouble has been to reduce
&c Into the form Of metal, % tnat u
SDT. 80 A-hAA Ar~nAN RANA