The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1895-07-27
OF 1aELUNG TEST
Ancient History Barred Out OF
the Debate.
Horr Plugs Coin IA Few Times, but uar-
vcy Continues to Make Adrolt
Pasaes John Sherman
Decides n Point


Pasaes - John Sherman
Decides n Point
Chicago, July 23.-Ancient history
was laid on the shelf in yesterdays de-
bate and the orators dealt mostly with
matters Of the present time.
Mr.. Horr opened the dispute with a
written argument touching the impossi-
bility of maintaining a liked ratio be-
tween gold and silver. AS the result of
experience all the civilized nations of
the globe had discarded silver as a
standard money. 1t was useless to ex-
plot long tables Of ratios to show
whether a double standard could be
maintained. The world had pronounced
against silver.
Mr.. Harvey said he had been called
on by letters and kilograms to give
statements by Blaine. Ingalls, and 9TH
ers concerning the decentralization act.
He said that the words at his disposal
in the debate would not admit of 1t.
Taking up Mr.. Horr's eulogy of Sen
ator Morrill,, delivered on Saturday, he
charged that Senator Morrill, erred in
saying that no silver dollars had been
coined for forty years prior to 1873. MIR.
Harvey read from the report of the d.
rector of the mint showing that silver
dollars in greater or less amounts had
been coined nearly every year. The fact
was that Mr.. Morrill, was a bank stock
holder with a bank stockholders preju-
dices. He called on Mr.. Horr to explain
that.
Mr. Ilnyp cnj1 fhat Ny Nnryill had NOT
meant that not a dollar had been coined.
but that none to speak of had been. AT
most. it could be said that Mr.. Morrill,
had made a mistake. Mr.. Harvey in his
book had made a mistake, and a bad
one, in stating the amount of silver
which a been coined during the life
of the government. Mr.. Horr declared
thatthe i~nsinuations that because Judge
Morrill, was an owner of bank stock he
was not to be believed We're too con-
tenptihle for consideration.
MIR. Harvey said that in raising the
point of the coinage of silver prior to
1873 he wanted to establish a fact In his
tory which had been obscured by false
statements that such coinage had not
taken place. He wanted to make this
answer in the presence of the gold men.
Proceeding, Mr.. Harvey said he did
not mean to reflect on any mans integ-
rity because he was a bank stakeholder.
| He merely wanted to show that men
We're swerved in their expression of
facts by their interests. Mr.. Harvey
then defined scientific himetallism to
be the free coinage of both gold and sill
yer at an assumed ratio-a change in
the size of the gold dollar whenever the
parity between the gold and silver coins
should require: the option to both indi-
viduals and the government to pay in
the cheaper money He held that under
these circumstances silver would not
depreciate because there would be an
unlimited demand at the ratio fixed by
law, and no mar would sell his bullion
below the price at which he could have
it coined.
The Rntio Question.
Mr.. Harvey submitted a table to show
that from 1857 up to 1873 the CONNER
cial ratio had remained remarkably
close to the legal ratio, notwithstand-
ing the characterization of 1t by Eng
land and another of the great nations
of the old world.
Mr.. Horn said this matter of ratio had
little or nothing to do with the ques.
ton. The fact was that all of tn. civ.
ilized ation of the world refused to
recognize silver. and would only re-
ceive its bullion value, measured in
gold. What might be if the other ia.
tons should join in admitting silver te
free coinage was one thing, for us to
attempt it alone was another.
Mr.. Horn then took up the proposition
of Mr.. Harvey's book hat max
ing the dollar of one half the present
value would double the value of every.
thing in the United States except debts.
Mr.. Horr pronounced this absurd. say
ing that we might as well say that IL
we cut u yard sticks in two 1t would
double the amoun of cloth in the coun-
try. He said Mr.. Harvey seemed to be
stuck on sweet 16 to L. In his book
he proposed to keep metallic values at
a parity by reducing the amount Of
gold in the gold dollar. Carried to its
legitimate results the ratio would be-
come l6 to u, or 30 to l.
Mr.. Harvey proceeded to argue that
both gold and silver were measures OF
values until 1873. Referring to the tut.
ting of the yard stick in two. Mr.. Har-
Ney said that the gold men had doubled
the yardstick in 1873. He asked wheth.
ed If half the gold In the world were
destroyed the value of the gold dollar
would not be doubled. Mr.. Horr shook
his head. Mr.. Harvey said he would H.
lustrate It in another way. which the
farmer would understand. If half the
wheat crop in the United States were
destroyed would not the price of wheat
on the Chicago board of trade be
doubled. In demonetizing silver in 1877;
the golden yard stick had been doubled
The friends of silver were merely ask.
ing for the return Of the measure by
readmitting silver to coinage.
Mr.. Horn, in reply to the charge thai
the emo~netization of silver cut the
value of products in two. said that II
that were true prices would have al
once dropped so per cent. The fact
was that they did not. If the destruc.
ton of half the wheat crop would raise
prices four fold the demonetization OF
silver did not destroy it.
Returning to the attack Mr.. Hor1
said that Mr.. Harvey did not care TO,
ratio. What he wanted was a chear
dollar and the cheapening of the
most prosperous country in which Its
workmen were best paid.
Mr.. Harvey said that a dear dollar
and a cheap dollar were comparative
terms, to be measured by a mans cir.
cumstances. If a gold dollar Were
worth more h a a silver dollar some
more costly substance might be found
out of which ITO make dollars. He said
he did not propose to allow Mr.. Horr te
pose as the friend of the laboring man
The gold men had thrown some 1000. 00t
OF W~orkingmen out of employment an0
had put some of them In prison be.
cause they objected to having their
wages decreased. Mr.. Harvey prom
ised at the proper time to show ths
logical relation of the gold basis to the
workingmen.
Mr.. Horn said it was in 1879 that We
resumed specie payment. and the only
money of ina redemption was gold
He asked was distress abroad In the
land from hat on? 1.-The fact is thai