The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-27

corn crop of Illinois in that year was
217, 000, 900 bushels; the corn crop of the
United States was 1882, 200, 900 bush
els that same year. In 1893 you state
that the corn crop of Illinois was $780,
100000 bushels, which you teach to the
people governed the price of corn in
the United States that year, whereas
the product of corn that year in the
United States was 1919 900, 900 bushels.
Now, what I want is, Brother Harvey,
that you should tell us how that little
tail in Illinois corn crop wagged the
whole dog in the United States. (Ap-
plause) In another portion of your
book you state, at least by implication,
that the farmers products will not buy
as much of all kinds of commodities,
except labor, as in 1873. You do this
on pages 121 and 122 of Coins School"
That statement is misleading and I'M
true.
objects to RidicuIe.
Mr.. Harvey = Mr. Horn will make
nothing by abusing or ridiculing me;
the intelligence of the American people
demands something higher than that.
(Applause) When he called your at
tention to the illustration in the
School" of the government entering
the market for horses-which speaks
for itself in the book and needs no de-
fense-Mr. Horn should have thought
of how the government fixes the price
on gold. You take a certain quantity
of gold to the United States mint and it
is coined and given back to you in SO
much money. The price of gold as
money is fixed. Now, we ask the same
thing for silver, that's all (applause),
| and we believe this government can be-
| come more prosperous and more cas-
lily keep out of the hands of pawn
brokers of the world with two metals
for money than it can with one. = "
Unlimited free coinage at the minis
guarantees a substantial parity. But
If by reason of supply or corner on
one of the metals, or from any other
reason, one of the metals is enhanced
in value, the debtor exercises his OPP
ton to pay in the other metal. and
this transfers the demand from the
dearer metal to the cheaper metal. A
| break in the commercial parity causes
the cheaper metal to be used. This in
creases the demand for the cheaper
metal. This increased demand restores
! the value of the metal that has thus
! fallen below a parity and brings it
back to parity.
Mr.. Horny friend Harvey insists
! in conducting this debate without per-
hitting me to refer to anything he has
said in the previous part of the debate
| NIL in 70.
his idea of order in his book 1t is easy
to see why he does that. He has a port
folio filed with written essays, worked
out by him or somebody, I don't know
who Qaughter), which he proposes to
read in his order. I came to the city of
Chicago without a syllable having been
written and supposing that this was to
be sort of stand-up fight, and
every word I read is called out by
the statements that he makes here on
the discussion. 1t may be annoying to
him, am sorry if it is Qaughter), but
1 am running this business to please
myself. Oaughter)
Won't Follow Mr.. Horr.
Mr.. Harvey-The rules governing this
debate are that we are to discuss
Coins Financial School, in its order,
and that is exactly what I am doing.
That Mr.. Horn does not find himself
prepared to discuss in that way is no
reason why I should follow him in all
the somersaults that he makes.
l now proceed with the discussion as
logically arranged by the rules. There
are two kinds of money, in the general
sense in which we use the word money
One is primary money-to use the ex-
preston money" only would be more
proper = the other is representative
money. The latter is something that
represents real money. For the pur-
poses of this argument I will sometimes
refer to representative money as ''credit
money" Credit money is of two kinds
One is paper money and the other is
token money, both representing rea.
money. Token money is used because
of the uses to which it is put This
use would quickly wear out paper
money Thus copper cents have Away!
with us been token money, and nicke
fve-cent pieces also, since they came
into use No attempt is made to main
tain the commercial parity of thes,
metals at any ratio with the metal out O
which primary money is made. The!
simply represent real money and ar
redeemable in real money.
Now, Mr.. Horn wanted me to take VI
that subject when he was discussin;
that verse from the bible in the fly
leaves. I now reach it at the plac
where it is discussed in the book. Col,
tour present primary money! is now tn
measure of values. Mr.. Horn has toll
you that that is a fact. He and
agree. Silver and gold working to
gether, as before explained, virtually a
one metal, was formerly the measure O
values. What is meant by measure @
values is that the price you receive 70