The advocate., 1895-07-31

y
that answer has misled thousands Of hon
est and unthinklng people.
''You used this illustration to teach
that free coinage would create an un.
limited demand for silver and lnoreasO
Ats value in the markets Of the world.
The horses would be bought, kept, and
used by the government; and the price
OF them would bS paid to those who sold
them, In money. Under such coinage as
you advocate silver would be received by
the government, coined, and then, in
effect, returned TO the owner again. He
might not get the Same dollars made from
the identical silver which he took to the
mint but he would get those coined from
silver received and treated precisely as
his was, so that he would practically get
back the same thing. The only honest
connection possible between your illus.
tration and the truth would depend upon
the governments branding each horse
and returning him, or another horse Of
the same class which had been treated
and branded in the same way, to the man
who presented the horse for branding.
Now, what influence would that have on
the price Of the horsesp 1t would not In
crease the consumption nor would II
affect the supply.
Another ltem: The average price Of
wheat, as given on page 1O8 Of Coin 4
School, was 81 cents in 1891. The Sta
tistical Abstract gives the New York
price $l.O9 in 1891, and the average price
in Chicago In 1891 was 90 cents. If you
are teaching the people the truth, explain
this discrepancy, Again: In 1893, you
state, the corn crop OF Illinois was 16O,.
100000, which you teach to the people
governed the price Of corn in the United
States that year, whereas the product Of
corn that year In the United States was
1913, 600 Of bushels Now what want
Is, Brother Harvey, that you should tell
US how that little tail in Illinois corn
crop wagged the whole dog in the United
States. In another portion Of your book
you state, at least by implication, that
the farmers products will not buy as
much Of all kinds OF commodities, ex-
Cept labor, as in 1873 You do this on
pages III and 1872 of Coins School. That
statement Is misleading and untrue
The farmers products taken as whole
will buy as many things that the farm.
ers need and use as the same products,
all taken together would have bought
in 1878"
In reply Harvey said: "When he called
your attention to the illustration in the
School of the government entering the
market for horses Mr.. HOrr should have
thought how the government fixes the
price on gold. You take certain quan.
tity Of gold to the United States mint
and 1t Is coined and given back to you in
so much money. The price of gold as
money Is fixed. Now, we ask the same
thing for silver, that's ALL Now l pro-
tiflo bimetallism. The option of the
debtor to pay In either metal is vital
principle Unlimited free coinage at the
mints guarantees a substantial parity
But If, by reason Of supply or corner on
one of the metals or from any other rea.
son one of the metals is enhanced In
value, the debtor exercises his option to
pay in the other metal and this transfers
the demand from the dearer metal to the
cheaper metal"
Here Harvey quoted the Chicago Tri.
Ouho Va JANUARY 1000 Ah "hAOh hR ouL- |
torial takes direct ground against single |
standard for the reason that the debtor
should be provided with an option as ex-
planned by Harvey. Harvey enumerated
two kinds of money in use-one was
primary" the other representative.
Primary money was the measure Of val.
ues. He proceeded: "When we have
gold as real money, as we have now, our
money is tied to 1t as the
tail Of a kite is fastened to kite. We
make it as good as gold only by fastening
it to gold. Hence We now hear Of so.
cent silver dollar. WhyP Because silver
Is being measured In gold, and 30 is all
your property. We have 6O-cent wheat