Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-08-06

did not exist. History showed that q varia-
ton Of 4 fraction OF Il per cent between the
commercial and legal q tito between gold
md silver always drove the dearer smetAl
7odt OF the market, Now, with q difference
/ Of so per cent, whit evidence: was there
that d concensus =of the civilized nations
England excepted could bring them to a
parity much less, how 5co,ild the United
States alone do It. II. HOrr declared TINT
s Mr.. Harvey's object was not 50 much to
build up silver as to pull down gold, Us was
shown By his provision for reducing the
size Of the gold sdoila ~ 5ssS
81. Mr.. Harvey, referring back to the silver
coinage bet weens 1873 and 1919, said that
the silver coined at l'hi ladelphia was coined
Into slllsid diary money, not zs dollars. he
added that the premium on silver was pre-
miuAls Mt London. md that transportation
/ charges would more than eat that up; so
the bullion owners sinsf this country would
take a It IS. the .mints for coinag Taking
Into consideration bank credits and checks
md the amount of money In circulation, the
normal amount OF money necessary for the
transaction OF the business OF the country,
continued Mr. Harvey. y was four thousand
eight hundred mill Ion dollars. OF this one
third only wass In money and the rest was
borrowed. The inference was :plain-the
have WIS four. onsanl eight ss*. hundred
million dollars AS mat ers now stand he
said, the banks were bending and getting
interest on two dollars for every dollar In
circulation.
&c., some hing Rtcl,. rom se. !.
81 Mr. SHorr said that the question whether
! the banks were curse to the country.
would BE discussed IN its proper pl lace, and
Mr.. Harvey 1 would probabl lie stlisgusted
with himself when 1T was done for having
brought the matter up. Returning ia the
/ discussion, Mr. HOrr said that statistics
showed that 10 manu- racs ureil articles had
deprecated In nine since 1870 san average
of &c per cent ilver had tlepreeiatcd 30 per
cent. Some other art eless had tlppreciated
skiing up the teIlent fIarxay'a
book TINT it Ind Cost per ounce TO pro.
Sduce the silver AIn the #Un1te q sStatea. Mr.
HQrfs ch0ract erIzeSl &c as nonsense. He pre-
scented statistics Of di terent mines, collatedl
by NJ. IA, Scnlde sho Wing & hit one mine
| had produced sat DC 1lts per ounce anoth-
9er ut "a cents The Sill liners would not
have cont inued to nine silver. at "a cost OF
3 per ounce when the product Wns only
I'D Harvey; In turn, said TIM. what AIR
Horr had said about the cost of producing
silver he could hive said iwi til much more
1 force with reglr TO goltL 81 lyer was only
produced from quar- q Z most Of the gold was
produced from piacer u; mes. costs less.
dollar for dollar, to produce god Aan5 sis
yer. He SreadS from a book By Alex Del
Mar an op:oion that I. pound for zIonnd, 1t
Z cost more TO produce silver than gold, or.
dollar for dollar, 10 TO u Why did men
continue 10 mine silver ats SIS loss? Why did
men gamble on the DOnrd of trade, where
q large minority lost? It was the gambling
instinct impl anti tn the human breast.
duced sws produced.t IN con cti0n with gold
nj n laFno nrOlIfl nf fhf silver