The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1895-08-01
HORR and HARVEY |: Y
The War Of Words on the Silver
Question Continues at
Chicago.
Holr and Harvey Give Each Other
r.. Some Hard Nuts =. to
Crack. ,..-.'. .-.... -.

Chicago, July "A. ''Back dates were |
thrown to the dogs to-day in the debate |
between Horr and Harvey. 1T vas lore
than ever Il case of Greek meets Greek. /!
and interest in the tug-of-war heightened |
at once when it was seen that the days OF |
Periclcs well rs 1E2, 1916, 1913 anu
other years, no matter how historic or I'M
portant, all barred more or less III
favor Of 1895. I.
Mr.. Horr opened the dispute with a writ
ten argument touching the impossi5iuty OF
maintaining fixed rule between god and !
silver Mr.. Harvey charged that Senator
Morrill, erred in saying that no silver dol
lars had been coined for forty years prior
to 1873. Mr.. Harvey read from the report
Of the director Of the mint. showing that
silver dollars In greater or less amounts
had been coined nearly every year.
Mr.. Herr said that Mr.. Morrill, had not
meant to say that not a dollar had been
coined. but that none to speak of had been.
Mr. Harvey submitted table to show
that, from 1857 up to 1873 the commercial
ratio had remained remarkably close to the
legal ratio, Notwithstanding the demonetiza-
tion of it by England and another of the
great nations of the old world.
Mr.. Horr said this matter OF ratio had
little nothing to do with the question
The fact was that all of the civilized ma
tons of the world refused to recognize Sill
yer and would only receive it at its bullion
value, measured in gold. What might be
If the other nations should join in admitting
silver to free coinage was one thing; for
us to attempt 1t alone was another.
Mr.. Horr then took up the proposition
of Mr.. Harvey's book, that making dollar
of one-half the present value would double
the value Of everything In the United States
except debts. Mr.. HORT pronounced this
absurd, saying we might as well say that
If we cut our yardsticks in two it would
double the amount of cloth in the country.
Mr.. Harvey argued that both gold and
1878 He asked whether, if half the gold In
the world were destroyed the valie of the
gold dollar would not be douh.-:.
Mr. Horn shook his head.
Readmitting Silver to Coinage.
Mr.. Horr, in reply to the charge that the
decentralization of silver cut the value of
products in two said that If that We're true
prices would at once have dropped 50 per
cent The fact was that they did not.
Mr.. Horr said that Mr.. Harvey did not care
for ratio. What he wanted was. n cheap
dollar and the cheapening of the emolu-
ments of labor. That was the most pros
porous country in which it's workmen were
best paid.
Mr. Hort said it was in 1879 that we re-
sumed specie payments, and the only mon
ey of final redemption was gold He asked,
was distress abroad in the land from that
on? The fact is, the years from 1870 to
1892 found our people better employed and
at better wages than in any other same
number of years since the government was
formed. (Applause)
Mr.. Harvey: "As to the prosperity of
this country between 1870 and 1892, you
could not break down a great nation like
this in one year. A change in relative
ia Ct production had no effect as long as the
minis We're open to the two metals" ZAP
plause)
Mr.. Horr: 81 have never said that the
cheap price of silver not on account of
Its overproduction. Silver has become
cheap in this world just precisely the same
wheat and iron and zinc and lead and
other articles have been cheapened. just
precisely for the same reason. applause. }
All of these articles have been cheapened
by the natural laws which govern the
production of every substance know to the
producers in the world"
W. D. Wilson of Chicago: Glow about
gold?"
Mr.. Horn: "Gold the same. am glad
you asked me- Gold has deprecated in
value in less than 100 years 50 per cent.
1t is cheaper now than it was in 1878.
What I find fault with is that the silver
men invariably leave out Of their calcula.
tons this article of labor, and the article
Of labor is the greatest article known in
the civilized world. Cut down the pay of
labor and you parayZe the entire business
of any nation.
Mr.. Harvey: 'Mr Horr says that every.
thing has been cheapened, including gold
To say that gold and products cheaper
a
You buy gold by exchanging ether property
for it. When it takes more property tc
buy gold than formerly gold mas .i;en. In
stead Of becoming cheaper, gold has be-
come dearer. That is the case now. And
yet, Mr.. HOrr, by SOphstry, reasons thai
1t has become cheaper. He says 10 the
laborng man: You can buy more with 9
gold dollar now than you ever could, anG
then turns to you and says that gold is
growing cheaper all the time.
nc Ha1 thA h1 70 fOr I,,,
E.. Settled by Sherman.
Mansfield Ohio, July 22-In the Harvey
Horr debate at Chicago on Saturday Mr.
Horn said there was a provision in the ac
of 1873 for 3S4- grain dollar worth fy
francs, which afterwards struck ou
in the senate before the bill was passed
Mr.. Harvey denied that it was struck on
by the sen:ste and said that if it were s.
he would stop the debate right there Il
an interview to-day Senator Sherman state,
that this provision was added to the bill
after it reached the house at the instiga
tiot- of the citizens Of California, who pro
duce both gold and silver. but that it wa
struck out when the bill reached the sen
ate. Mr.. Sherman also disputed numbe
of Mr.. Haryey's statements.
Chicago, July 25-The seating capacit
of the rooms of the Illinois club was al
taken up when the HOrr- Harvey debat
opened to-day. While the size of the room
do not permit large audience, the officer
OF the club are compelled every day to re
fuse many applications for Seats
The days talk was opened by Mr.. Har
vey. He said that the debate of the las
session was of value as showing that dur
Ing the last forty years silver had becl
steadily coined in spite Of the assertion t
the contrary; that by the table copied fror
the reports of the minis. the commercial
ratio between gold and silver had bee
maintained at about the French coinag
ratio Of 1914 to for 200 years; that durin
b the twenty-five years since 1873, as the re
suit Of the demonetiZation the commercial
ratio bad declined to 80 to /; that in III
1888 years prior to 1873 the quantity RI ii
between gold and silver had ranged froI
Sc Of silver to 1 of gold, to 4 of silver to
of gold, and that during all that time til
commercial ratio had chung closely to til
legal ratio During all that time the con
mercial price of silver bullion had T..
manned steady. Since 1873 it had steadi'
and rapidly decreased. 1t was the don
mating influence of London exchange |
all parts Of the world which led to gol
being recognized by the world tn
standard in NJ commercial ira n al ctiOnS