The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-08-07

vey don't believe it, because it is i'm
possible for me to tell what man in his
state of mind may not believe. Uaugh-
teri But I say the fact is contrary to
his statement
Mr.. Harvey-When we reach the cost
OF production Of silver I think I will
make Mr.. Horn feel like the ordinary
Eastern man who has spent 100000 in
western silver mining and has taken
about $3.50 out, and will satisfy him about
the cost OF production. Naughter.)
When he refers to the amount of gold
and silver in the world he omits to say
that my statistics gave the amount Of
gold and silver available for use as mon
ey Its quantity for use as money is the
subject we are interested in. 1t will do
| him no good to jump around in Coins
Financial School," from one end to the
| other of it, before we get through. He
is not going to distract me from the reg
ular line of the debate. (Applause)
HARVEY DEFENDS HIS FIGURES.
Il now distribute among you a table
showing the worlds production of silver
| and gold from 1892 to 1892, taken from
page 1O3 Of the book last referred to, the
Official Coinage Laws and Statistics, is
sued by the treasury department at
Washington, and pass the book to Mr..
Horr
MISUNDERSTANDING .,pcthe msre atv
| Il now make the table part of my re-
| marks.
PRODUCTION OF GOLD AND SILVER
IN THE WORLD, 1892 TO 1892
Copied from the United States senate
| report, No. 235, page 1O3, coinage laws Of
the United States, 1892 to 1894:
The tah1o which Mr. Harvey then nro-
duces is too long for reproduction here
It's essential features however, cover the
following points: He starts with the
calander year 1892 and extends his in
vestigation for one hundred years. He
shows that the product of gold produced
up to 1900 amounted to $106, 407 900 as
against product of silver of 1927 $3.50 900.
The period intervening between 1841
and 1S48 shows total product of gold Of
| 1921 ,144,0 900 as against product of sill
yer amounting to $3.50 $50, 900. From
this point beginning with the discovery
of gold in California in 1S49, down to
1892, he gives the product of each annu-
ally. For the purpose of illustrating,
we will give the product in 1852, and SO
on each ten years, and the final total
in order that the argument may be the
more readily understood
Year Gold Silver.
1852 ....... $132,750000 $40,600,0O
1862 ....... 1O7,750,00O 45,20O,00O
1872 :........ 99,6O0,OOO 65,25O,00O
1882 ........ 102,00O,OO0 Ill 100000
1892 ...... 138,S6O,00O 1876, 459 900
Mr.. Harvey might have added just as
we'll as not that the product for 1894 in
round numbers were: Gold, $4,000, 900;
Silver, $$214 100000. From this point on
Mr.. Harvey said:
Here we see that from 1892 to 1900
there was 1926 in silver produced to 81
in gold, or a quantity ratio-ounce for
ounce of about fifty of silver to one Of
gold. And yet there was no f1uctuation
of the commercial with the legal ratio.
For the first fifty years of this century
there was produced in the world SITS Of
silver to 81 of gold-a quantity ratio Of
about twenty-eight ounces of silver to
one ounce of gold. The world is now pro-
ducing about Ito in silver to 81 in gold4
"In 1873, when the minis were closed,
the world was producing about so cents
in silver to 81 in gold. In 1853 the world
was producing about 81 in silver to 81 in
gold-four times as much gold as sill
yer.
For 1928 years prior to 1873, as far back
as we have statistics that are undisputed,
that all writer's agree on as substantial
ly correct, the change in the relative
quantity of relative production mad no
effect on their relative commercial val
ues. But In twenty-five years demone-
tization has revolutionized the metallic
currency of the world. And there is no
longer a par of exchange between the
two metals at the legal ratio, which ratio
is now only retained to govern the COIN
age Of silver into token money to repre-
sent gold.
"They assign no other reason than
overproduction for the break in the COM
mercial parity Of the two metals. If they
assign any other reason Mr.. Horn will
surely state it, for the gold standard
now has chance to lay it's claims before
the intelligence of the country.
81 began by defining scientific bimet-
allism, and in the second clause of it's
definition I emphasize the Importance of