The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1895-08-01
HORR AND HARVEY.
.xoTHER CHAPTER IN THE GREAT
SILVER DEBATE.
The Give-and-Take Discussion Re-
minds the Spectators of the West-
ern Woman Who Saw the Fight
Between Her Husband and u Bear.

%.
NJ tin. rooms of the Illinois club was all
takeu up when the Horr- Harvey debate
opened today. While the size OF the rooms
do NOT Kermit a large audience, the officers
Of the cllb are compelled every day to re.
fuse many applications for seats.
The diy'2 talk was opened by Mr.. Har-
yey He SAID that the debate Of the last
session was ct value as showing that dur
ing the last fOrty years silver had been
steadily coined in spite of the assertion TO
the contrary; that by the table copied from
the reports of tEe minis, the commercial
ratio between goA and silver had been
maintained at abo1t the French coinage
ratio Of 1914 to / or200 years; that during
the twenty-five years since 1873, as the re-
suit of the demonetizaf ion the commercial
ratio had declined to s. to l; that In the
1913 years prior 10 1873 the quantity or ratio
between gold and silver Fad ranged from
% Of silver to l OF gold, tC Of silver TO
OF gold. and that during alit that time the
commercial ratio had chung closely to the
legal ratio. During all that time the coIu-
merClal price of silver bullion had re-
manned steady. Since 1873 1t hat steadily
and rapidly decreased 1t was he dom
mating influence OF London exchange 10
all parts Of the world which led - gold
being recognized by the world "a the
standard in all commercial transactlohr.
Mr. HOrr, II his opening remarks, PRO
ceeded 10 call attention to what he called
misleading statements In Mr.. Harvey
hook For instance, he declared to be
untrue the statement that it was believed
that the cost of producing all of the gold in
the world was about 81 per ounce, while
some nut IL much higher. M. HOrr pointed
out that there had been A vastly increased
production at greatly reduced prices. AT
the cost which Mr. Harvey spoke Of, the
silver miners In three years would have
lost over 500 200, 900. Again, NJ. Harvey
had nut the aggregate amount OF silver in
the world at about $1,000 900. Il was
estimated that IL ere was about S6,OOOOO1
600 Mr. Harvey had said the debts Of the
United States had amounted 10 about $40,
100000. 90. This, Mr.. Horr said
Was an Absurdity.
Mr. Harvey said that the amount OF Sill
yer referred to by him in his book was the
amount available for coinage. For the
rest he proposed TO pursue the ordinary
course and answer the questions as they
came Mr.. Harvey then distributed table
showing the production Of gold and silver
from 1892 TO 1892, and proceeded to argue
that In spite OF wide relative huctuatonS
IN production, there had been no t1uctuatioa
In relative value till after the demonetza-
ton act In 1873 He then proceeded 20
argue that except In the legal relation or
weight, there should be no difference In the
treatment Of silver and gold. He said that
the government was the creator OF money
and had the right 10 regulate the thing
created TO the extent of fixing relative ra-
tics, but 1t had no right TO take from the
legal tender quality Of any money created.
Mr.. Horr continued his objections 10 Mr..
Harvey's statement in his books. He took
up the superstition that the government
wanted 100000 horses. Its competition
would increase the value OF horses; that
FREQ coinage OF silver would increase the
value Of the bullion. Mr.. Horr said that
all the government did to silver was to put
stamp on the bullion and return 1t to the
nnf oh
merely call for 10000 horses for the pur-
pose OF affixing brand to them, and
having done 80, should return them TO the
owners would that increase the value or
the horses OF the country? The horse ar.
gument, Mr.. Horn declared was fraud.
The speaker then took up the matter Of the
elements which govern the price Of wheat,
arguing that Mr.. Harvey's deductions were
faliGCiCus.
Mr. Harvey said that this government had
fixed the pr &c OF gold, and all the friends
of silver wanted was for 1t 10 fix the price
of silver In the belief that the nation could
better keep out of the hands Of the pawn
broker with two metals than one.
Returning 10 his argument on bimetalltSm.
Mr. Harvey said that the option of the
debtor to pay In the cheaper metal should
not be impaired. This would always main
tain a parity. If the creditor were given
the option Of the money in which he should
be paid. he would demand the dearer
that metal and decreasing the other. there
by widening instead Of narrowing the dis
parity. Continuing Mr.. Harvey declared
that all nature was bimetall!c. Man had
two legs. two arms, two eyes two ears
He declared there were available for coin
age In the word about sixteen ounces Of
silver to one ounce Of gold.
Quotes Minnesota Statistics.
Replying, Mr.. Horn took up the question
Of farm tenancy, whose growth Mr.. Harvey
at an earlier stage Of the debate had adj
verted to as bad sign in our national life
MI Horr declared 1t good sign and
quoted from statistics ga hered by the State
or Minnesota. showing the steady evolution
OF the tenant Into the land owner and
from other statistics showed that the in
crease In the number Of tenants had been
accompanied by decrease In the number
OF farm day laborers. The increase In ten.
ancy had not been at the expense Of the
farm owners, but at the expense of the
day laborers
Mr. Harvey declined to discuss what he
called the tenant business" but promised
tnat he would take 1t up when he got TO IL.
ne then went on to say that there were
Two kinds Of money In the general sense la
"@ich the word Is used, me being primary
money and the other :e3entative money,
or, as he would call It, for the purposes Of
the debate, "credit money" This latter
Kind Of money Is divided into paper money
ana token money, which includes copper
cents and nickel Scent pieces. No attempt
Is made to maintain the commercial parity
Oh these metals at any ratio with the metal
out OF which primary money Is made.
Ioken money Is used to pay for articles
whose value Is less than that at which we
coin primary money. Primary money is the
measure of value. Gold. Mr.. Harvey said,
Is now our measure Of values and our rep
resentative money Is tied to Ii as the tail
OF Kite He then made short argument
showing that supply and demand regulate