The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1895-07-18
TIE HARYEYHoRR DEBATE.

Congressman Horr, Of Michigan,
and W. II. Harvey. the author Of
"Coin's Financial School," began their
tsn-day debate in Chicago on Tuesday.
The referees Of this long-to-be-remember-
Cd discussion are Lyman J. Gage and
Howard 8. Taylor, of Chicago, while the
judges are Ex-Solicitor General Of the
United States Charles II. Aldrich and
Hon. Henry Miller. Mr.. Horr's opening
statement was brief, including state
ment that he was not an opponent OF
bimetsllism. He stated that the real aim
and object of "Coin" was to convince
the people Of the United States that this
government alone should at once enter
upon the free and unlimited coinage of
silver upon the old ratio OF Is to !. Mr..
Horr said be should dispute the wisdom
OF such Q course, and would prove that,
II such plan were adopted by the people
Of this country, the result could only be
business disaster and financial ruin. Mr..
Horr stated that hs favored an interna-
tional agreement, and that any other
course would be suicide.
Mr.. Hayvey's Introductory was bold
and concise statement Of his position.
He said that be proposed to prove. abb
solutsly, the following propositions;
That silver aud gold are money of the
constitution; that the silver dollar was
ths unit Of value in our coinage system
in this country from 1892 to 1878; that
gold was measured 10 this silver unit and
coinage given to it (gold);
that silver and gold combined continued
the legal standard Of value In the coun-
Try until 1872; silver measured gold, the
two together measured all other prop
ssty; that the act of 1898 was surrep-
tiously passed; that during the period Of
1872 TO 1873 the mints were open to the
unlimited coinage Of both metals into
primary or redemption money. and that
both were treated ss such; that during
that period the people had the right to
have either metal coined in full legal
tender money and that the option was
with the debtor to pay in coins Of either
metal; that this bimetallic system made
an unlimited demand for both metals to
be coined into money, increase the de-
mand for these metals, and so long as
the law authorizing any one to coin
S7lk grains of silver and 23.l
grains Of gold in q dollar was
in force there was no one willing to sell
either for less than dollar; that the
option to pay in either metal caused the
cheaper Of the two metals to be used and
transferred the demand from the dearer
to the cheaper metal and restored its re-
lative commercial value; that It 10 to the
interest Of the United States TO act indie
psndently in the demonstration Of silver
at ratio to gold Of Is to l, without wait
ing for the action Of any other nation !;
that monometallism consists in the use
of the dearer Of the two metals to the ex-
clusion Of the other AZ primary or re-
demption money; that monometallism lie
an experiment on trial for the first time
in the history Of the world, and began
with the period Of 1873; that the gold
unit - the measure of values, with no
concurrent coinage Of another metal to
assist In performing the functions of pri-
mary money, has caused the fall in prices
~ compared with 1872, when the worlds
prices Of property were measured in the
money mass Of both metals; that the de-
cline in prices, covering period OF Is
years, has, - rule, made all classes oil
productive, mercantile and manufsctur-
Ing business Improbable; that 1t has
worked hardship and injury to debtors
who, until conscious Of the causes that
continuously reduce the prices OF their
property, have contracted debts during
these twenty-five years; that this fall in
the prices causes . sacrifice Of property
to purchase the dollars with which tc
liquidate these debts; that in the end nc
one ID benefited by fall in prices but
the money lender, the owner Of money
and securities payable in money-fixed in
comes; that the foregoing facts and con.
ditions, produced by q change in oul
money measurement OF values, will i'm.
poverish tbs masses Of people. and
points. by reason of the disturbances II
viii produce, to the overthrow of the re.
public.
The progress of this mighty discussion
will b eagerly and intsrsstedly watched
BY the great mass Of silver men in ths
west. who have cleaned from "Coin'
many valuable hints, the stability o.
which they hope to find Mr.. Harvey car
easily demonstrate.
That was an interesting story which