The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-07-24
The Authors Vindication of
the Importance Of the
Debate.
THE EDITOR OFF ON TANGENTs.
Very Few Facts Upon Which the
Champions of the Rival
Metals Agree.
copyright, 1895. by Azel F. Hatch.]

CHICAGO, ILL.,, July 23.-No evidences
of fatigue or lack of breath were apparent
| in either of the principals in the Horr-
Harvey debate when time was called for
| the sixth round to-day. Mr.. Harvey led
with vindication of the importance of
| the debate, which he said rested upon five
historical reasons:
| First-For 200 years prior to the demonetiza-
! ton of silver in 1873 silver was seeking the
mints of the world for coinage into money.
| Second-For 200 years prior to 1873 there
was no variation between the commercial and
the legal ratio of 1513 to /. During the twen-
ty-two years since 1878, however, the two ra-
! tios had separated widely and gone from l51&
to to about 80 to 1.
! Thlrd-For 338 years prior to 1873 the guam
tity ratio between silver and gold ranged from
| 56 of silver to 1 of gold to of silver to of
gold; but, Notwithstanding this wide varia-
tion, the commercial ratio had clung tena-
| ciously to the legal ratio.
| Fourth-The price of silver in the London
market as measured in gold up to 1878 was
practically steady, while since that date silver
had declined from 60 pence per ounce to 28.7
| pence per ounce.
| Fifth-That this violent fluctuation in the
price of silver has been going on ever since its
demonstration and is going on to-day.
Mr.. Horr did not reply directly to his
opponent, but took up Harvey's statement
of yesterday, that but one error was to be
found in his work, saying that there were
many mistakes, not in expressing state
ments of facts, but by false implication
which any man of sense would repudiate
on sight.
At this point Mr.. Horr created some de-
rision at the expense of Harvey by saying
that he did not deny that his opponent be-
ieved all he had written. As matter of
fact it was impossible for him to tell what
a man in Mr.. Harvey's state of mind
might be capable OF believing. The state
ment in .'Coin's Financial School" that
every ounce of silver produced up to the
present time cost the producer 50 an ounce
was secuted by Mr.. Horr. If the mine
owners had been producing silver at this
cost and selling it, as they had been doing,
at from $l27 to 81 cents an ounce, they
had lost by the transaction during the past
| three years some $236, ,000,0
The next point of attack was the state
ment of Mr.. Harvey's book that the peo-
ple of this country are annually paying to
England $200,000,000 in interest on Ma
tional and private bonds. Mr.. Horr de-
MED this proposition fatty and challenged
|
debtedness of the people of this country to
all the nations of Europe involved any,
thing like such an amount of interest.
.'The right to make a contract to be
Iquidated in any specific property should
not apply to money" said Mr.. Harvey.
"All such contracts, when made PAYABLE
in money, should call for lawful money.
To permit raid to made on either gold or
| - !
tions of men to dictate to the Government
what should be legal money. Making
money is an act of sovereignty for the
common good and to allow it to be cor
rupted wonld be to permit that which
would defeat the object intended. The
Government is the creator of money and
the creator should regulate that which it
| creates.
"The answer in your bock," said Horr
''of hodge-podge and errors that the Gov
ernment can create demand for a COM
modify has misled thousands of honest
and unthinking people. My friend here,
DR.. Robinson, says it is using a seeming
truth to lie with, which is the most crafty
and dangerous kind of a misstatement
You use an illustration to teach that free
coinage would create an unlimited demand
for silver and increase its value in the
markets of the world. Under such coinage
as you advocate silver would be received
by the Government, coined, and then, in
effect, returned to the owner again. He
might not get the same dollars coined
from the particular silver which he took to
the mint, but he would get those coined
from silver received and treated pre-
cisely as his was. Your illustration of the
Government buying 100000 horses is q
fraud on its face, that is all. You say the
average price of wheat in 1891 was
| IS cents. The Statistician Abstract gives
New York price 81 90 in 1891 and the aver
age price in Chicago in 1891 was 81 cents.
If you are teaching the people the truth,
explain this discrepancy"
Mr. Horr alluded to the statements from
! Harvey's book in relation to the corn crop
of Illinois in 1873 and 1898, controlling the
price in those years, and to the purchasing
power of farmers products, giving figures
to show the statements were untrue and
misleading.
"Mr. Horr will make nothing" inter-
reupted Hawley, "by abusing or ridiculing
me. The intelligence of the American