New-York tribune., 1895-07-24

money and the creator should regulate that which
1t creates. (Appause)
SOMETHING THAT DOESN'T PLEASE "ColN.
Mr. Horr-Yesterday under the laws OF far'n
tenancy, Brother Harvey called attention 10 the
great increase of farm tenancy in the United states
since 1860 1t is one Of the points that he makes
in his book that the country is going 10 the dogs
because there people that work land Ia. as
of Labor in 1895 Investigated the condition Of all
the farmers in eleven typical townships ~ ,nuS nus
Were farm-owners and 243 were tenants. OF the
farm-owners 235, number equal TO tnat OF rn ny
tenants. once tenants and most OF tnein oics
worked for wages Only two Of those tenants n na9
lost farm by mortgage foreclosure an1 onls
or the 235 owners tenants the average Oh iour
had a h% nn to
me; 1t doesn't please Brother Harvey But tenanSy
m same n,' as does in Minnesota and hence Brother
Harvey objects to that tenanGy N1r,ssoa IN ae0's" anu
PRIMARY AND REPRESENTATIVE MONEY.
Mr.. Harvey declined to go into the farm ten
ant business until he reached II in the regular
course Of the debate. and proceeded with def
in.tion of primary and representative money. lie
said:
now our representative money is tied to 1t as me
tail Of kite is fastened to kite. II goes up ana
down wih with the kite We make it good as gold
3 rt to S6aS sSa Why WsnG 'sn
yer W is being measured in gold. ana is ell your
hayc ttySss1II wheat s O sns samc Sh
all other property where its value Is msGsggD aacir5 bW
trust causes or new use that has increased its
demand What reduced the prices was taxing AK
back is to restore that half Of the money. Silver
is now used token money. represen,thg @ golu
inent-that supply and demand regulate the value
Of money. the same az of all other property
SHOULD THIS COUNTRY STAND ALONE?
MIR. Horr-I now proceed to take UP the question
as TO why the people OF the civilized world refuse
to adopt Mr. HarveyN plan. l admit that the ma
tions that first demonetizcd silver did 80 becaus-
they considered the mineral unstable, variable in
price and that afterward the element OF cheap,
ness came in The nations which acted later did
because they found that the reasons given by the
nations that had acted earlier on this subject Were
Row matters far this debass is con
sh dS as sSsr live Mr. Harvey In
and YESTERDAY in ever sta % yS" f ,be aGS World
would give free and unlimited coirage 70 silver on
certain ratio it could be maintained have
discussing. do not know what all the civilized
nations OF the world If they combined could d, DO
TO &C 9 and the woS Tf hss
fused to silver money of final redemption
and stu refuses to use it. can the M nniea ss apo
silver basis and join Mexico. Chill an1 Tripoli' o"
business men Of the world would get together and
agree upon some standard taking in,D fa IN
price Is Of silver and hx upon business olan
OF REDEMPTION no"8 But W for V this Nation to start
single handed and attempt thing OF that kina h,a
eo%nry SS%a Be 70 Is against that
] protest.
Mr. Horr quoted table from Coin showing
the product Of silver since 1874. far as 1t goes
and added the mint reports of 1898 and 1894, con-
tinuing:
Now this table shows and the table that s he ,sc sS
same as 20 far as It goes. that Since s7i pro
dacon svsr En- Re In In
in ~ sSS S god IA has one Seaf TO
years has Increased from 81 5000 up 10 s9i,%sl
900 While gold increased only twice. silver has
increased just about three times
CIRCULATION BASED on GOLD.
Mr.. Harvey accused Mr.. Horr Of discussing
another book he had written instead of stick
ing to Coin" and refused to go outside of that
book. He said:
was discussing the relation OF primary and
credit money and had called your attention to- the
Of gold. out OF which oui primary money is nov
made. the same supply and demand regulate the
one yanr aendn Et a tesd to to that The
s2 chasing s pe~sa hst fffa has Io
saTnsS this pare S Of aa
@ s. ,ss IS ssss sas y sss i Gofi fS
E s,sn Is asEsa Sa R !. snf @s vss
different credit acts fixed this. and therein con,
s@sa esiaSis SHas the o gold s!sndsr q al e
money have their value hXed by gold ard M on this
MI Sir HOT Horr@That a9r As'S + right
Mr. says rsS ins5 Ebsa Is
said that these certificates issued against the wheat
IN 1ss Of whea S With not oer The
tiicates represent the wheat and iaciltate business
fact the price Of wheat is lower than # was
before the use Of wheat certificates was introduced
So snsf ecs aGes the eApsf Value Of so property
the Of facilitating exchange They are saGh
Primary money fixes the sea,level Of PRICES There
was wsen no & gepsn and %St' is and ne very little between
isso When visiting California as late as lsst found
money nUn in s use Ii hard for accustomed
paper money 10 understand this unless he has beer
California gold and silver carried in the peo
PIES pocksts go 80 two SIS scdnvsOIdr, in sOIId and
the q hsiS money in gold and sSs, h,
years gold and Silver prices were high in Call
fornia as they were with US
FUNCTIONS OF PAPER MONEY.
Paper money circulating with US did not take
away from silver and gold prior 10 1873. or fror
gold since then. any OF IT'S exchangeabe value
nor did IT add any TO coin prices with us as com
pared with prices in California where there wal
no paper money. Mexico has no paper money, an
yet wheat is worth there 81 30 bushel In silver
where have paper money representing gold
And corn In Mexico IL worth 81 20 bushel. NOR
than It's relative value here In god, where W.
have credit money to reinforce gold and Mexico
has no credit money TO reinforce It's silver. Whei
the law makes a certain metal the measure o
values as It does gold, or two metals In con
current coinage. the measure Of values It Is
mistaken idea that paper or tokens issued to rep
resent this money Increase or decrease their ex
changeab,e value, except In the sense that the.
may facilitate the exchange. Mr. Horr says II
The New-York Weenly Tribune OF June 10: "Pape
money Is worth only the value OF the money II
which II is redeemed" And Mr. Horr Is right
do that paper money cannot D
made primary money. as We may later. but
does not become the measure OF values when onl
value II must represent itself only.