St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-30
SILVER JIW-JAWS.,
]
HORR SAYS HARVEY MAY SOON
TAKE THE GOLD CURE
CHEAPLY.
COIN GIVEN A SOUVENIR
HIS OPPONENT PRESENTS HIM
WITH TWO CHINESE
COINS.
STABILITY OF GOLD AND SILVER
Harvey Closes With q Denuncfa-
ton of CIeveIand.s Finan-
cin1 Policy.

CHICAGO, July 29.-The last in
stallment of the Harvey-Horr silver
debate was heard this afternoon at
the auditorium of the Illinois club.
The days attack was directed
at the question of the feas-
ibility of independent action by
the United States for the
RECOMMENDATION of silver and it's free
and unlimited coinage at a ratio of
16 to 1 with gold, regardless of the
action of other nations, Mr.. Harvey
arguing for such action, Mr.. Horr
against it. The discussion was
opened by Mr.. Horr with a statement
that the figures for the price of corn,
referred to by Mr.. Harvey on a
former day, showed that the f1uctua-
tions for a series of years had been
normal ones in view Of supply and
demand, and that silver legislation
had nothing to do with the matter.
The fact was that it was impossible
to show that silver legislation had
affected the price of agricultural
products. Mr.. Harvey's figures, Mr..
Horn declared, were made upon Eng
lish, not American, prices. On the
subject of city and farm tenancy,
Mr.. Horn said that Mr.. Harvey had
! quoted only part of paragraph.
He had said that the tenancy in
New York was the highest" The
highest of what? In the same para
graph Berlin was quoted, and it
was higher than New York.
Mr.. Harvey-New York will equal
it inside of ten years.
Mr.. Horr, continuing, said the
question at issue was not one of
city, but of farm tenancy. This
| tenancy, Mr.. Horr said, was mis-
| quoted by Mr.. Harvey to show an
| increase, where there was an actual
| decrease, as shown by the census
| tables. Mr.. Harvey had quoted the
ing from Carroll D. Wright. He
(Mr. Horr) had written to Mr..
| Wright about it, and he had replied
| that he had made no such statement.
Replying, Mr.. Harvey said he had
| taken the figures as published and
attributed to Mr.. Wright. He had
asked labor leaders whether it could
be relied on, and they said it could.
Since then he had made fresh in
quiry, and, finding that the quota
ton was erroneous, had erased it
from the plates for the book.
GOLD AND SILVER MINTAGE.
Taking up the regular discussion,
Mr.. Harvey presented a table show
ing the coinage of gold and silver
from 1892 to 1873. He did this to show
that gold did not seek the mints for
the first fifty years Of the nation,
and that silver did not from that
time till 1873. Mr.. Harvey then quot
ed from his book the total amount
of gold and silver in the world, and
the cubic space they would respec-
| lively occupy. He went on to argue
that there was not enough gold in
the world for coinage uses, in view
| of the fact that the amount divert
ed from coinage for use in the arts
had greatly increased within the
past few years.
Mr.. Horr, coming down to the
question in hand, declared it was
| useless to try to fix the relative
value of any two substances by
legislation. Suppose congress should
try to fix the relative value of
bushel of wheat and a bushel of
| oats. AS soon as one of them had a
large crop, up would go the rates,
and legislation by the nations of
tain the ratio any more than it
would make water run up hill. The
law of gravity would stand in the
way. 1t was so in the matter of the
ratio between silver and gold. The
law of supply and demand stepped
| in there, and the history of the
| worlds legislation showed that it
was impossible to maintain fixed
ratio between the precious metals.
Mr.. Harvey said that when he
reached the matter contained in Mr.
Horr's last talk he Thought his Har-
vey's) answer would be satisfactory
Continuing his line of argument, Mr..
Harvey quoted estimates as to the
consumption of gold for ornament,
in the arts and otherwise, and for
boarding, to the effect that these
uses equaled, if they did not ex-
ceed, the production, so that the
amount of that metal for coinage
was at a standstill or decreasing.
SILVER MORE STABLE.
Mr.. Harvey then took up the ques-
ton as to what is becoming of the
silver being produced at present. He
first quoted statements of authori-
ties that the increase of the use
of the metals in the arts had grown
so large that there was always a.
ridiculously small supply in Europe,
and there was a demand for practi-
cally all of the output of the United
| States as produced. Proceeding, he
said that gold was irregularly pro-
duced and was boarded by the few
rich. Silver, on the contrary, when
more valuable than gold, was hoard
ed by the mass of the people, thereby
comforting general benefit. 1t was
| for this reason that silver had been
more stable metal in the past than
gold.
Mr.. Horr said that Mr.. Harvey
had the unfortunate habit of COM
pairing things which had no relation,
That was the matter with his cube
argument on gold and silver. The
cubic space which they would oc-
cupy had nothing to do with their
value. Resuming his argument and
referring to Mr., Haryey's statement