The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-08-01
THAT WAS THE QUESTION DIS
Ct-SSED BY MESSRS. HORR AND
HARVEY.
EUROPE WOULD BE FORCED TO
COME TO OUR STANDARD
Says Mr.. Harycy-Mr. Horr Argued in
Favor of the Single Standard, Setting
Forth its Stability-The Debate
Closed.

Chicago, July 29-rhc attendance 81
this, the last day Of the HorrHaryc!
silver debate, was fully up 10 the stand
ard. Each speaker closed his argumen
with an eloquent pcroraton, and aftcl
an exchange of congratulations, the grcat
1O-dayS battle Of words was declared u
an end.
Chicago, July 29.-1hc days attack
was directed at the question of the feast
bility Of action by the United States foI
the reconciliation of silver and its free
and unlimited coinage at Il ratio of IL
to ! regardless Of the aGtion of other ma
tons, Mr.. Harvey arguing for such &C.
tion, and Mr.. IIorr against it,
The discussion was opened by Mr. Horr
with a statement that the figures for the
prices of corn which were referred to by
Mr.. Harvey on Il former day, showed
that the fluctuations for a series Of years
had been normal ones in view Of supply
and demand and showed that silver legis-
lation had nothing to do with the matter.
The fact was, it was impossible to show
THAT the silver Legislation had affected
the prices of agricultural products.
Replying, Mr.. Harvey said that he had
taken the figures as published and at
tributed to Mr. Wright
Taking up the regular discussion, Mr..
Harvey presented II table showing the
coinage Of gold and silver from 1892 to
1873 lie did this to show that gold
did not seek the mints for the first 80
years of the nation and that silver did
not from that time to 1873.
Mr.. llorr declared that it was useless
10 try b fix lhe relative value of amy
two substances by legislation. Suppose
congress should try to fix the relative
value of a bushcl of wheat and a bushcl
of oats. AS soon as one of them had II
large crop, up would go the ratio and
the action by the nations of the world
wOuld mot maintain the ratio amy more
than III would make water run up hill.
The law of gravity would stand. 1t
was so i'm the matter of the ratio between
silver and gold and the law of supply and
demand stepped in there and the history
of the worlds legislation shows it was
impossible to maintain Il fixed ratio be-
tween the precious metals.
Mr.. Harvey said when he reached the
matter contained in Mr.. llOrr's last talk
he Thought his Qlarvcy'S) answer would
he satisfactory. Continuing his line of
argument, Mr.. Harvey quoted estimates
as to the consumption of gold in the arts
and otherwise, also Of boarding, to the
effect that these uses equalled if they did
not exceed the production, 50 that the
amount of metal for coinage was at Il
standStill or decreasing.
MI. llirNcy uh'h lVOk UP tne queStlch
as 10 WHAT IS becoming OH Ine SILVER
helliS proulceu at present re hrsI
quoted statements showing that tle mel
VS. used III artS hau grown so sarge un'I
mere was always Il daulculouSly SihHAl
huppiy IN Europe iIlru ulere was u Nv.
lnand Tor plTlcl'ci'I'y an OIL the ou'pu'
uhe world: >,
Proceeding; MT. Harvey Sald mat g4li
was lrrcSuIiry pr0duceu ana was hoarueu
by me roh. SILVER on uile contrary
was more valuable lnah Eolu' ana was
Aoard'i 10y the hl"SS on Ihe pcopie' TilercpH
coiMcr!lh@ II SehGr'l nencnl' III was
ior inns reason SILVER haa Deeh moro
stane liielal Ill t,'e PlSI IiEll soiu.
MT iloir s"iu MI iluINtH non ule
unfortunate haplt OF comparing uhlnSS
WHICH n''u no rciii'n,'i' uiI'Ul was WHAT
was the mattGr Wruh mas argument on SoIu
ana slINer' lule CUBIC space Wdhch uief
would occupy hild mourning TO 10 WIFI
lhelr Vltue.
iReSunMag ans argument ana relerrlls
To MI. Harvey statement that the re-
moneuzaltion OF SILVER would reduce deDtS
by one7halt, Mr. Horn Sald that by Jar
the largest share of the debts IN the
United States were less than one year
old. The debts of large corporations
were tine long time debts. Ihe short
time debts We're contracted under the
gold standard and to reduce them one
half would be TO lose that onc-haif. Mr..
Iiarvey'S proposition would simply re-
suit in silver recommendation. 1t had
been thought that II was impossible to
chip money without injuring anybody.
That has been proved fallacious. He
declared that cheap money could not be
substituted for good money, without in
Turing the mass of the people. The
people who would profit by such change
would not he the rich, but the money
changers.
MIR. Horr then proceeded To ennmerate
thp classes of people who work for their
living. arguing that they would be injured
by ,,hc1n money.
Mr.. Harvey returned TO his cube argu-
mcnt. declaring If WINS n valuable object
lesson. 1T showed thot the Rotbschilds
could corner the gold markets of the
world I'M their vaults. Who was it that
clipped the coins i'm 1873? Who was it
that established a robbcr standard?