The advocate., 1895-07-24

Mr.. Harvey-What year was that?
Mr.. Horr-T That was In the fifteenth
century, that was the time when you say
everything was going to the boW-Wows.
HOrr quoted other authorities In the
same line of argument, and then Harvey
took the floor. He said he read from the
report of the Monetary Commission Of
1876, including the historical quotation
just referred to by Horr, mot for the pur-
pose Of entering into an argument on po-
litical economy of the years 1400 to 1500
but simply to show that all of my friends
from New York and elsewhere who have
accused me of forgery were wrong. DR..
Adam Smith, an able historian, whose
work put in Mr. Horr's hands yesterday,
confirms all that there is in that monetary
commission. Page III gives you the table
Of the rise of prices that contradicts every
thing that Mr. Horr has said here. The
encyclopedias in your Libraries will con-
firm that report Of the monetary commits
sion and contradict everything that Mr..
Horr has said"
Remarking further that he did not ex-
pect to be diverted to answer irrevelant
matter, he proceeded to recapitulate the
debate Of Tuesday saying: THUS far we
have considered two questions, gold and
silver as the money of the constitution and
the unit Of value in our monetary system
fixed by the trainers of the constitution,
and what existed as our monetary unit
from 1892 to 1873 The debate is of value
thus far in eliminating the doubt that has
existed on these two points in the minds
of the pecple-a doubt that has been pro-
duced by Misrepresentation made by those
advocating the gold standard. A reading
of the debate thus far settles these two
questions in favor Of the book we are dis
cussing.
Gold and silver have been honest
money for centuries, and under free COIN
age and equal treatment they have been
practically at par with the legal ratio fixed
for their coinage; under these laws both
were money in their own right, each hav-
ing equal purchasing power and both
adapted to use as money. Population and
demand on the money market are growing
every year, and there was no good reason
for debasing one of these metals, discrim-
mating against it, and destroying the de-
mand for it that gave to it its value in the
market"
Horr expressed surprise that Harvey,
"after taking so long a time yesterday to
prove to the people of the United States
that the year before the discovery of silver
in the world silver money had become so
scarce that the people were on the verge
of starvation, should now accuse me OF
trying to divert him from the regular work
before us when 1t is the very work he him
self introduced" He then read from Prof.
George Gunton, author of Wealth and
Prosperity" pFge 14O. that in 1896 wheat
was five shillings and five pence ha' penny,
and in 1914 1t was five shillings and four
pence. If we take the average for the dec
AIDES in which each Of these years occur,
which is still better, we will find the re-
suit to be the same. The average price Of
wheat from 1441 to 145O was five shillings
and three pence and three farthings from
1491 to 1900 it was five shillings and three
farthings, and from 1911 to 1920 1t was six
shillings and eight pence, three farthings." {"
He said that this showed that wheat
had been steadily advancing instead Of
going down as you claim. Now proceed.
The next thing desire to call your atten-
tion to is the matter we were talking about
when we closed last night. The question
whether the trainers of the bill Of 1892 In
tended to establish two measures o.
value" He referred to the decision Of Judg'
Vincent on the question submitted to hin
some time ago to decide bet as to whicf
was tho unit according to the law Of 1872
The Judges decision was that the unit wal
the dollar, to be expressed in both gOlt
and silver.
Horr then said; Now, have before mt
letter of Mr.. Leach, who was for man!
years tn director of the mint; a mai
whom l know we'll, and who is oonsidere'
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