Birmingham age-herald., 1895-07-23
THE QUESTION OF RATIO
IS ARGUED BY HARVEY AND HoRR
Cutting the Gold Dollar in Half-Horr Says Haryeys Mathematics Are as Bad
 as His Veracity

Chicago, July 22.-(Copyrighted 1895 by Azel F. Hatch. )-In the Harvey-Horr de- bate today MT. Horr quoted from MT. Harvey's book that the objection to in dependent bimetallism is that the parity between the two metals cannot be nam tafned at our ratio of 16 to 1, and with silver remonetized and just and equlta- ble standard of values, we can, II neces- sary, by act of congress reduce the nuih- Der of grains in gold dollar till 1t IS the same value as the silver dollar. We can not legislate the premium out Of gold.
 He asks what becomes of MT. Harvey ratio of 16 to 1. Here is what he virtually says: "The gold dollar may be cut down as need be- so that the ratio shali pe Ao to Ia.' His mathematics are, however as defective as his veracity. Matheliia. a Io ically 16 to F is the same as oz to i' 'o it is not the ratio he cares about.
 MT Haryey-Mr. Horr says that dehy the two metals can be kept in circulation at A fixed ratio. 1 have not sald thal' for they can be,< s they have been III .hi3 7 country I know they have attempteu3 to make you believe there was no gnu gnu in circnlation in this country or seeking the hints after 1S50 but both were miS- ranresentations. MT. Horr flies in the face of history when he says that sil- yer was not used prior to 1915 as iheaS ure of value. Silver was the unit III thal coinage system regulating the size or the gold coins, but the two together were the measure of value, and that IS what we mean by a double standard. MT. Horr alludes to something 1 have said be1ore and then adds, "Cut the yard halt Tn two and then it will make twice as many yards of clothing in the world. Now, Tn 1873 you doubled the length of the yard stick (Applause.) Suppose one-half the gold in the world was destroyed tomor- row beyond recovery, would not the gold dollars that were left be twice as Valu- ble as they were before?
 Mir Horr is not a bad pupil and shakes his head. So that when you destroyed one-half of the redemption money in 1873 you doubled the value of the money that was left. You can see no harm in destroying the price of mans property, cutting the price of his property half in two, but your eyes are wide open when any man proposed to even up with you by proposing to cut the gold dollar half in two. We do not wish to do that eth- CT We wish to put back in the coinage system the money that you demonetized in 1873. (Applause.)
 MT. Horr-It is possible that MT. Ilar- vey believes that the act of 1873, when it demonetized silver, cut the price of the property of the world in two and that prices immediately dropped 30 per cent. I was around the world in 1873 and know that 1t did not take place and he knows it. You destroy one-half of the wheat in the world and the chances are that you will have to increase the value of wheat by fouI' times. But wheat is an article that peonle consume from year to year or after a short time Gold has been accommodating for ages, and if you destroy the primary quality or half the gold in the world you would not change the price of the metal one-half As the price would go up there is an enormous store laid away over the entire world that is. not being used for money pur- poses that would at once seek the chan nels and be coined into money and take the place of money that had been de- stroyed.
 Referring to his previous quotations from MT. Harvey's book, Mr Horr said he read them for the purpose of getting at what the author desires to reach by the free coinage of silver and said that what Coin is really after is a cheap dollar" He would reduce the value of the money unit in this country one-half. MT. Horr protested against the whole scheme, because it is an effort to cheapen labor. The greatest commodity ever placed on the markets of the world is labor. It is best to cheapen the unit of value and decrease the purchasing value of our dollar. He was believer in cheap prices, and only opposed them when the
 
 pense of the men who do the work.
 Mir Harvey said that his opponent argued that the dear dollar is of more benefit to laborers than cheaper dol lar. He did not intend to let MT. Horr cloak himself behind the laborlng man. You have cut in two the number of days that it is possible to find labor," he said. You have put anywhere from 2O00 900 to 4000 900 laborng men out of employment in this country and to those laboring men who are now destitute. and many of whose leaders arc now lying in jail. you sing the sweet songs of the high purchasing power of the gold dollar when he gets it."
 MT. Harvey then delved into the ques- ton of ratio and bimetallism and re- viewed the historical position of silver in European countries.
 Returning to the relation free coinage bears towards the laborng man, Mir. Horr said: Tn 1873 when the question of metallic money became prominent in this country we resumed specie payments and the only money of final redemption was gold. Do you tell me that distress was abroad in the land from that on? Any man who says that must be ignorant of the history of work in the United States Since this nation began the years from 1879 to 1892 found our persons better employed and at better wages than in any other same number Of years since this government was 1orineu. tAppiduSeD Four millions of men today out of cm- ployment? Where do you get your iig- ures?"
 Mr Harvey-AI said 100000 to d000,0 GOO.
 MT Horr-There is not any truth in either statement. In the years from 1883 to 1892 I was in thirty-one states of this union and during that entire time did not visit city where the people were not we'll employed at good wages. and l know that any man who says that from 1879 to 1892 this country was in financial distress, and that the laboring men were not then well employed. is not well quail sifed to talk upon the subject. because Sthat is the fact
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