The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-23
HoRR A GOLD MoNO-METALLIST.
He Thinks That Silver Will Never
Again Be a Money Metal.
It Became Cheap Just as Iron and Zinc
Did-"Coin, seems TO Think That
a Stockholder in Bank Cannot Be
Honest.

and as the interest in the tug-0f-war
heightened * was at once seer thai the
days of Pericles. as well as l392, 1873 and
other years. no mater how historic or i'm
IL rtant, We're all barred more or less IN
favor of 1885.
Horn opened with 4 written argument
touching upon the inlpoSsgo4iity CT main
tanning fixed ratio between gold and s-l-
Yer, AS a result Of experience, ne said.
all civilized nations had discarded silver
as standard money. IL was useless 10
exploit long tables OF ratios TO show
whether a double standard could be main
tained. The world had pronounced against
silver
Harvey said he had been called on by
letters and kilograms 10 give statements
made by Blaine Ingalls, and others con-
err Ing the decentralization act. He said
the words Al his disposal in the debate
would not admit of ii. Taking u, Horrs
eu,ogy upon Senator Morrill,. delivered
Saturday, he charged Morrill, with saying
that no silver dollar had been coined for
forty years prior 10 1873. Harvey read
from report Of the director of the mint
showing that silver dollars in greater or
less amounts had been coined nearly
every year. The fact was Morrill, was a
bank stockholder with a bank stockhold-
er's preJudices. He called on Horr 10 ex-
plain.
Horr said Morrill, had not meant TO say
none TO speak Of had been. The most that
could be said was that Morrill, had made a
mistake. Harvey in his book had made a
bad mistake in stating the amount Of sill
yer coined during the life of the govern
ment. Mr. Horr declared that the insinu-
alton that because Judge Morrill, was an
owner of bank stock he was not TO be be-
neved was too contemplate for considera-
ton.
Mr.. Harvey said that In raising the
point OF the coinage OF silver prior 20 1873
ne wanted TO establish a fact in history
which had been obscured by false state
ments that such coinage had not taken
place He wanted to make this answer
In the presence of the gold men. Proceed
ing. Mr.. Harvey said ne did not mean 10
reflect on any mans integrity because he
was a bank stock holder He merely
wanted 10 show that men were swervea
IN their expression of facts by tiheir in
terests.
Mr.. Harvey then defined scientific BIZ
metallism to be the free coinage of both
god and silver at an assumed :atio: a
change in size of the metallic dollar when
the parity between the gold and silver
should require: the option to both indi-
v!duals and the government to paw in he
cheaper metal He he'd that under these
corditions silver wo1ld not depraciate, bA-
cause there would be an unlimited de.
mand at the ratio fixed by law, and no
man would sell his bullion below the price
at which he could have it coined. Mr..
Harvey submitted table to show .hat
from 1857 up TO 1873 the commercial ratio
hai remained remarkably close to the le-
ga ratio. notwithstanding the demonetiza-
tion of IL by England and another OF the
great nations of the Old World.
Mr.. Horr said this matter of ratio had
little or nothing TO do with the i,uestion
The fact was that all the civilized nations
of the world refused to recognize silver
except ut its bullion value. For us 10 at
tempt free coinage alone was not pra III
cable. Mr.. Horr then took the proposition
OF Mr.. Harvey's book that making the
dollar one-half the present value woIli
double the value of everything IN 'he
United States except debts. Mr.. Horr pro-
nounced this as absurd. saying We might
as well say that If we cut our yIrdsti>.ks
in two it would double the amount OF
cloth in the country He said Mr.. Harvey
seemed to be stuck on sweet sixteen 10
one" In his book he proposed to keep the
metal value at a parity by reducing he
amount OF gold in the gold dollar. Car
ried TO its legitimate results. the ratio
would become IS TO 4 or 81 to I.
Mr. Harvey proceeded to argue that noth
gold and silver were the measure of
values until 1878. Referring 70 the cutting
Of the yardstick in Iwo, Mr.. Harvey said
that the gold men had doubled the yard
stick in 1873 He asked whether. IL half
the god were destroyed the value OF the
gold dollar would he doubled.
M- Horr shook his head.
Mr. Harvey said he would illustrate II
in another way which the farmers would
understand II haf the wheat crop in
the United States were destroyed would
not the price OF wheat on the Chica 20
Board OF Trade be doubled? In demone-
tizlng silver in 1873, the gold OF the yard
stick had been doubled. The friends Of
silver were merely asking for the restor-
alton Of the measure by readmitting silver
to coinage.
Mr. Horr. in reply 20 the charge that
the decentralization OF silver cut the
value OF products in two said that II that
were true prices would have at once
dropped 80 per cent. The fact vas that
they did not II the destruction Of half
the wheat cror would raise prices four
fold the demonstration of silver did not
destroy il. Returning 70 the attack. Mr.
Horr said that Mr.. Harvey did not care
for ratio What ne wanted was cheap
dollar and the cheapeHing OF the ernclu-
r1ents Of labor That was the most pros
porous country in which its workmen
were best paid.
Nr Harvey said that dear dollar and
a cheap dollar were comparative terms. 10
be measured by n mans circumstances. IL
a cold dollar were worth more than sill
Yer dollar some more costly suUst aIice
might be found with which 10 mako DOT
lars. He said he ala not propose TO al
lYvv Nr. Horr 10 pose as the friend of the
fsborfn~ man. The gold men had tnroTn
some ! 90 go of woTkinEnen out of en-
r,lovneut and had put some or them IN
r-fsor because they objected 20 having
tbair wages decreased. Nr. Harvey prom
isad A. the proper time 20 show the logi-
cal relation Of the gold basis 10 the work
ingmen.
N- Horr ssi7 II was in 1871 that We re-
sflrnad specie payment and me only mon
j sv OF fnai redemption was gold he ask
"a vas distress abroad IN the land from
thst one The fact IS. the gears from Nls
"a lSsg found our people better employed
ard at better wages than IN any other
same number Of years since this govern
roent was formed. (ApQlause) Four mil
lions OF men today out 81 employment?
f Where did YOU get your AguresP
Gf~ Harvey said from t@o 20 four
+ millions.
/ NJ Horf-Tuvo 20 four Millions -Four
-,lIIious IS out OF the question Two nil
lions ts Just as caf. There Is 10 truth N
either statement
( Mr.. Harxey-As % the prosperity % ssais
s~o1r-rv between 1872 and iss2. YOU could
nor break dozn q great nation Ike thls In
ors var. II has taken a short period -
rrin- gs 70 fhe bitter cap OF dissppoin nt-
~,en7 ao5 distress. I know that every
( sofr vears the Political parties have
/ charged each other with having S~sfr0Fei
/ the prosperity of the previous four years.