The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1895-08-01
The DEBATE ENDED
Horr-Harvey Silver Discus
sion at Chicago Finally
Concluded.
is FREE COINAGE FEASlBLE7
Mr.. Harvey Believes 1t Is But
Mr.. Horr Thinks 9th
erWise.

Mr.. HOrf THINKS 9th
erwise.
CHICAGO, July 31.-The last. day OF
the Harvey -Horr oliver seige opened
during the afternoon in the auditorium
Of the Illinois club. The days attack
was directed at the question of the
feasibility of independent action by
the United States for the remonetiza-
ton Of silver and its free and unlim-
tied coinage at ratio Of i6 to with
gold, regardless Of the action Of other
| nations, Mr.. Harvey arguing for such
action. Mr.. Horr against it.
The discussion was opened by Mr..
Horr with statement that the prices
of corn referred to by Mr.. Harvey on a
former day, showed that the fuctua-
tions for a series of years had been
normal ones in view of supply and de-
mand and showed that silver legisla-
ton had nothing to do with the mat
ter. The fact was that 1t was impossi-
BILE to show that silver legislation had
affected tho
Price Of Agricultural Preduets.
Mr.. Harvey's figures, M. Horr de-
clared, were made upon English, not
American prices. Taking up the regu-
lar discussion Mr.. Harvey presented a
table showing the coinage Of gold and
silver from 1899 to 1878 BE did this
to show that gold did not seek the
minis for the first 80 years of the ma
ton, and that silver did not from that
time till 1873.
Mr.. Harvey then quoted from his
book the total amount of gold and sill
yer in the world and the cubic space
they would respectively occupy. He
went on to argue that there was not
enough gold in the world for coinage
uses, in view of the fact that the
amount diverted from coinage for use
in the arts had greatly increased with
in the past few years.
Congress Can't Fix Prices.
Mr.. Horr, coming down to the ques-
ton in hand. declared it was useless to
try to fix the relative value Of any two
substances by legislation Suppose
congress should try TO fix the relative
value Of bushel Of wheat and q bnshel
Of oats As soon as one Of them had q
large crop, down would go the rates, and
legislation by the nations OF the whole
world would not maintain the ratio
any more than it would make water
run up hill. The law of gravity would
stand in the way. It was SO in the
matter of the ratio between silver and
gold. The law of supply and demand
stepped in there and the history of the
worlds legislation showed that it was
impossible to maintain fixed ratio
between the precious metals.
Demand for Gold Would Decrease.
Resuming his argument, Mr.. Harvey
said chat the gold advocates feared
that the debts contracted in gold
would be paid in silver, and the man
who had stipulated to pay gold would
have to buy it at a premium. This
was fallacious.
AS soon az silver was remonetized no
man could stipulate for payment in
gold; the demand for gold would de-
crease; at the same time the demand
for silver would increase, and soon the
difference between the metals would be
wiped out. he declared that it was
not the stamp ON the coin which gave
it value, but the making Of new use
and new demand for It Il, at the next
general election, bimetallic congress
should be elected, the rubicon would
be passed the next day, silver, would at
once begin to appreciate and gold to
depreciate. and they
Would He at Parity
before congress met, az the greenback
dollar became equal in value to the
gold dollar before tho resumption act
came into force.
Mr.. Horn, resuming, enumerated the
classes Of people. who, he declared,
would b ruined by cheapening the
measure Of value. They include day
laborers, clerks, stenographers, rail-
way employees, domestic servants, jan
itors and scrub women, skilled labor Of
all sorts, agricultural laborers, miners.
and the like, in the aggregate ~, 735, :
661 in number. In addition to these
he spoke Of the pensioners of the gov
eminent, making touching reference
in doing SO to the empty sleeves Of the
veterans and the black .robed widows.
It was proposed to cut down the PEN
sion rolls by destroying the value of
the money in which they would be
paid
Business weuld Absorb All SILVER.
Taking up his argument. Mr.. Harvey
said that, under free coinage, gold
would decline, while silver and every
thing would advance. He asserted
that the demands Of business in this
country would absorb Ill Of the silver
available for coinage. II al Of the
gold and silver In the world were sent
TO orr mints for coinage it would be to
the benefit Of the United States and
the injury Of the rest q the world
Money in circulation made business, he
said, just as life does not make blood,
but blood makes life. =.
Mr.. Horr, resuming. said that the
savings bank depositors had u, 7l2, 000,.
600 on deposit, which it was
Proposed to Cut in Two.
Rri,din- and loan associations had