Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1895-08-10
HARvEY.nORR DEBATE ENDS
The Silver Champion and the
Gold Orator Rest.
The feasibility OF Independent Action OF
This Country In Remonetixang Sill
vcr ut the 10 to I Ratio Doplo
of the Last Day.

VI the Last lay.
Chicago, July 30.--The last day OF the
Harvey-Hofr silver debate opened Mon.
day afternoon in the auditorium Of the
Illinois club.
The days attack was directed at the
question OF the feasibility OF independ.
ent action by h United States for the
reconciliation of silver and Its free and
unlimited coinage at a ratio of is TO
with gold. regardless of the action 81
other nations. Mr.. Harvey arguing fol
such action. Mr.. Horn against it. The
discussion was opened by Mr.. Horn
with a statement that the figures foi
the prices of corn referred to by Mr.
Harvey on a former day showed shat
the fluctuations for a series Of years
had beer normal ones, In view of the
supply and demand. and showed thai
silver Legislation had nothing to do
with the matter. The fact was that II
was impossible to show that silver leg
~islation had affected the prices Of asri-
cultural products. Mr.. Harvey's fig
ures. Mr.. Horr declared, Were made W
from English, mot American prices.
On the subject OF city and far ten
allA WI " SoA' 10 W.
had quoted only a part Of a paragraph,
He had said that the tenancy In New
York was the highest" The highest
OF what? In the same paragraph Der
lin was quoted, and 1t WAS higher than
NV York.
Mr.. Horn. continuing, said that the
question at issue was nut one OF city
but OF farm tenancy. This enanc
Mr.. Horr averred, vas misquoted by
Mr.. Harvey to show an increase,
whereas there was an actual decrease
as shown by the census tables. Mr..
Harvey had quoted this statement In
one of his books as coming from a
roll ID. Wright. Mr.. Horn had written
to Mr.. Wright about IT and he had re-
piled that he had made no such state
ment.
Replying Mr.. Harvey said that he
had taken the figures as published and
attributed TO Mr.. Wright. He had
asked labor leaders whether they
could be relied on and they, said they
could. Since then he had made direct
inquiries, and finding that the quota
lions were erroneous, had erased them
from the plates Of the book.
Taking up the regular discussion,
Mr.. Harvey presented a table howin
the coinage of gold and silver from
1892 to 1873. He did this TO show that
gold did not seek the mints for the
first fifty years of the nation, and that
silver did not from that tim till 1873
Mr.. Harvey then quoted from his book
the total amount Of gold and silver in
the world and the cubic space they
would respectfully occupy. He went
on to argue hat there was not enough
gold in the world for coinage uses. in
view of the fact that the amount di-
verted from coinage for use In the arts
had greatly increased In the past few
years.
Not a Matter of Legislation.
Mr.. Horn, coming down to the ques.
ton in hand, declared IL was useless
10 try 20 fix the relative value of any
two substances by legislation, Sup
pose should try TO nix the rel
ative value of a bushel of wheat and a
bushel OF oats, as soon as one OF them
mad a large crop up would go the ratio,
and legislation by the nations of the
whole world would not maintain the
ratio any more thar II would A wa
ter run up hill. The law Of gravity
would stand in the way. 1t was so In
the matter of the ratio between silver
and gold. The law of supply and de-
mand stepped in and the history of the
worlds legislation showed that II was
Impossible TO maintain a fixed ratio be-
tween the precious metals.
Mr.. Harvey said that when he
reached the matter contained in Mrl
Horr's last talk he thought his (Har-
vey's) answer would be satisfactory.
Continuing his line of argument, Mr.
Harvey quoted estimates as to n con-
sumption of gold for ornaments. In the
arts and otherwise, and for boarding,
to the effect that these uses eQualled;
If they did no exceed, the production.
so that the amount of that metal for
coinage was at a standstill or decreas-
ing. Mr.. Harvey then took up the ques-
ton as to what Is becoming Of the silver
produced at present. He first quoted
statement by authorities that the in!
crease of the use of the metals In the
arts had rrown so large that there was
always a r~idiculously small supply In
Europe, and there was a demand for
practically all OF the output Of the
United States as fast as produced. Pre-
ceeding. Mr.. Harvey said that gold was
irregularly produced and was boarded
by the few rich. Silver, on the contra
ry, when more valuable than gold, was
boarded by the mass of the people,
thereby comforting a general benefit. 1t
was for this reason that silver a been
more stable metal In the past than gold.
Mr.. Horn sale that Mr.. Harvey had
the unfortunate faculty Of comparing
things which had no relation. That was
the matter with his cub argument on
gold and silver. The cubic space which
they would occupy had nothing to do
with their value. Resuming his argu-
ment and replying to Mr.. Harvey's
statement hat the reconciliation OF
silver would reduce debts by one half.
Mr.. Horn said that by far the largest
part of the debts Of the United States
We're less than one year old. The Iona
time debts were those of the large cor.
porations. The short time debts were
contracted under the existing gold ba'
sis, and to reduce them one half would
be to repudiate that m half.
Mr.. Harvey's proposition would sim.
ply result in silver monometallism. II
had been thought that II was possible
TO clip money without injuring anybody
That had been proved fallacious. He
declared hat cheap money could not be
substituted for good money without
injuring the mass Of the people. The
people who would profit by such a
change would not be the rich. but the
money changers.
Mr.. Horr then enumerated the classes
Of people who work for their living. ar
guing that they would be injured by
cheap money.
Mr.. Harvey returned to his cube ar.
gument, declaring II was a valuable
object lesson. 1t showed hat the Roths
childs could corner the gold of the
world in their vaults. Who was 1t that
clipped the DIN in 1873? Who was II
that established a robber Standard
Resuming his argument MIR. Harvey
said that h gold advocates feared thai
debts contracted in gold would be paic
In silver and the man who had stipula
ted to pay gold would have to buy 1t al
q premium. This was fallacious. Al
soon as silver was demonetized no mar
could stipulate for payment In gold and
the demand for gold would decrease
At the same time the demand for silvei
would increase, and soon the differences
between the metals would be wiped out
Soon the purchaser would be able to
get more In gold for what he had ia sell
than now. He declared that II was moi