Evening journal., 1895-07-30
THE DEBATE ENDS.
nIessrs. Harvey and Horr Finish Their Ter
Days Argument.


CHICAGO, July 30.-The last day Of the
Horr Harvey debate opened with an at
tack directed at the question Of the feasi-
bility of independent action by the Unit
ed States for the reconciliation Of silver
and its free and unlimited coinage at ra-
ito of IS to 1, regardless of the acts Of 9TH
er nations Mr.. Harvey arguing for such
action and Mr.. Horr against it.
Mr.. Harvey presented table showing
the coinage Of gold and silver from 1852
to 1878. He did this Co show that gold did
not seek the mints for the first 80 years Of
the nation and that silver did not from
that time till 1878.
Mr.. Horr declared it was useless to try
to fix the relative value Of any two sub
stances by legislation. The law Of supply
and demand stepped in there, and the his
tory of the worlds legislation showed that
it was impossible to maintain fixed ra-
ito between the precious metals.
Mr. Harvey said that gold was irregular
~ produced and was boarded by the few
rich. Silver, on the contrary, when more
valuable than gold, was boarded by the
mass Of the people, thereby comforting a
general benefit. II was for this reason that
silver had been a more stable metal in the
past than gold.
Referring to Mr. Harvey's statement
that the rcmonetization of silver would
reduce debts by half, Mr.. Horr said
that by far the largest part of the debts in
the United States were less than one year
old. The short time debts were contracted
under the existing gold basis, and to re-
duce them one-half would be to repudiate
that one-half Mr.. Harvey said that the
gold advocates feared that debts contract
ed 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
If at the next general election bime-
tallic congress should be elected, the Rubi-
con would be passed the next day. Silver
would at once begin to appreciate and gold
TO depreciate, but it would be at parity
before the meeting of congress.
Mr.. Horr, resuming his argument after
a little hadinage, said that the savings
bank depositors had Sl,712 600, 900 ON de-
/ posit which it was proposed to cut in two.
| Building and loan associations had 1, 725,
/ 600 depositors, with an aggregate of S525,
s52 600 due them. In addition to these
were the trust companies, life insurance
companies and state banks, all Of which
were to be allowed to pay in deprecated
| money.
Turning 70 Mr.. Harvey, he said II,
wanted to reciprocate the courtesy Of Mr.
Harvey in presenting him (Air. Horr
with a silver dollar. Mr. Horr said he pro
| posed to present Mr.. Harvey two coins o
two different metals, because Mr.. Harvey
was a bimetallist. Ar. Horr then handel
over two Chinese coins-one Of silver
worth 20 cents, and one Of copper, wortl
one mill-and proceeded to say that th
nation which struck these coins had q sill
yer standard. Its laborers were paid s
per month; its people did not ride in car
riages; its civilization had gone to sleep
The silver coin presented him by Mr.. Har
vey was struck by a progressive nation. ]
did very well then but the growth Of civ
ilization and commerce had since demand
ed a change in the standard That stand
ard should be gold.
Mr. Harvey, rising for his closing ad
dress, said he accepted the present froT
Mr. Horr Of the Chinese coins. He object
ed, however, TO the references Of Mr.. Hor
to the silver coin. The United States wa
the chief producer of silver Until 1873
was the most sacred metal Of our coinage
it was the measure Of all values In 1S7
it was struck down as Caesar was-by th
dagger of an assassin.
In closing Mr.. Harvey denounced til
presidents foreign and financial polio
and declared that the friends Of silvC
were fighting tho battle Of the people tn
world over He declared that a secon
declaration Of independence in the Unite
States was needed
1t should be said that the attendance /,
the session Of the discussion was by car
only and was limited 60 the capacity
the hall, which was about 200. This spal
was generally fully occupied.