The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-17
yoBR AND HARVEY IN DEBATE
CONTINUED from First Page)

a. the American congress believed that
-r a law ought 10 be ENACTED. / do
- believe in the teachings of this book,
-rs+ this nation is on the verge Of finan-
ci9I ruin, or that starvation is staring our
~s7rIe in the face. believe. If
pei nation should adopt the
[1rrse advocated in his book
o. vyould seriously injure the entire wage
Liners Of the United States. 1 believe we
Ig1lIf destroy the confidence Of the bust
-.ss men of the world in our integrity as a
Inn and that we would precipitate such
a rnanciaI panic as our country has never
before seen.
~ shall deny most emphatically that the
Great majority OF the people of the coun-
~ are in debt, and shall insist that three
f,rrths Of the American people are to-
F-v creditors, not debtors, and that con-
seeuently the system which Mr.. Harvey
eTvocates would work great injury to the
Te-t majority Of American citizens. / will
safe stil further that II this book about
vrhfrh we are going to debate is true then
lam all wrong. 1t seems to me to be de-
void Of business sense from beginning to
end and ! shall enter point Of attempt
70 prove that and hope to be able TO do
so in language that shall be SO plain and
avrIicit that my fellow citizens will be sat
isfed that have accomplished my task.
Understand me in few words: i be-
reve the American nation should have
lust as good money as any nation uses
on the face Of the earth. l believe that
every dollar paid to a poor man for his
daily toll should be worth as much as
the dollars paid to men who are rich. l
would have money that measures values
The most stable that can be devised, and
would insist that buyers and sellers, lend
ers and debtors shall as near as possible
be required to use the same measure of
value. and shall insist that repu-
~ oil fg Il
graceful and dishonorable in the case
Of nations, corporations or individuals
What our people need is good money,
good credit, good principles and sound bus
mess sense. Visionary schemes and de-
based money never yet made any one pros
porous. The equality of the money used
in any country is far more important than
the quantity Laws should be drawn to
protect the men who earn money as well
as those who owe money. A man who
works faithfully and lives on his daily
earnings should never be sacrificed for the
benefit of men WHO live on what they bor-
row. But all these things will be more
fully explained as the contest progresses"
After criticizing Mr.. Harvey's unauth-
orized use of Chicago business mems
names, attributing TO them statements
which they never uttered merely for the
sake of allegory, instead of using the
names of fictitious persons, Mr.. Horn said
L
which is, Il thank thee, oh, Father Lord
OF heaven and earth, because thou hast
hid these things from the wise and pru-
dent and hast revealed unto babes
Il would like my friend to tell me why
he used that motto. Does he desire TO
intimate that the kind of finance which
he teaches is something that babes will
understand, but that people who know
anything will never be able to compre-
hend?" trtrt
Mr. Harvey: "AIr Horr misinterprets
the meaning Of that verse. The word
babes is intended 10 mean the pure of
mind and unselfish., 1t is in that sense
that it is used in the Bible, and means
that those pure of mind and unselhsh
can see clearly those things which the
impure Of mind and selfish cannot sec
or understand. The cause / represent
is pure and unselhsh."
Mr. Harvey went on to explain that the
illustrated preface to his book was adopt
ed to show the rise and decline of civiliza-
ton, concurrent with an increase and de-
crease in the volume of primary money.
H took the decline of the Roman empire
as demonstrating his proposition-the vol
ume of money in use in the empire decreas-
ing in faster ratio than the conditions of
civilization among the people. On the
other hand he found it a coincidence that
with the invention Of bills of exchange
and paper representatives, of money for
interchange among nations the prosper
ity of the world returned.
Mr.. Horn thought that the motto was
not susceptible of the explanation Mr.. Har-
vey gave of it. He then asked Mr.. Har-
vey to tell him in a word what he meant
by primary money. To this Mr.. Harvey
replied: THE question asked is part of
the main argument in the book, and II
would be out of place for me to answer
this question now, and would disturb the
logical arrangement of the argument as
outlined by the book
Mr. Horn thought he had not succeeded
in gaining much Information. Pursuing
his discussion of what constituted money
and what it's functions were Mr.. Horn
elected from Mr.. Harvey this statement;
Money is medium of exchange and
measure of values. AS a measure OF val
ures it is thing representing value. When
we express price we have reference to the
unit of value, or its equivalent. With gold
and silver in existence as primary money
Their is double the quantity of money, real
money, as there Is when gold only is in
existence as primary money. Money is
also a medium of exchange. What is
meant by that is this: In deal of ex-
changing one property for another prop
erty we exchange it for money and money
being by law and usage common medium
of exchange we are thus able to exchange
it for the other property desired. We ex-
change property for money and then ex-
change the money for the property or for
services To understand the Importance of
money we must consider the conditions
that would exist if we had no money
1t would then be a matter OF
barter and exchange of one kind of prop
erty for another. The men of to-day do
not understand money and its relation to
property and society; if they did we would
not be engaged in this discussion. Under
this last head comes the question wheth-
er all money should be issued by the gov
eminent or all or part of it should be is
sued by private parties and corporations.
The necessity for money, the fact that It
Is the organic fluid of society, should
make it solely the creation of the govern
ment. We regulate interstate commerce
by laws, because it is not matter a1fect-
ing society. Nothing is so intimately con-
nected with the organization Of society as
money, and yet we have a school of finan-
ciers who advocate that it should be the
creation of private parties and corpora
tons and be regulated by them. 1t should
become a fixed principle with us that the
Of &c ar ar n