The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-31

copyrighted 1895 by Azel F. Hatch)
Chicago, July 27-The Horr-Harvey
debate was continued to-day before the
usual demonstrative audience. The
most essential points under discussion
are covered by the following steno-
graphic report:
Good Times After '73.
Mr. Horr-Now, what occurred after
the passage of the law of 1873? Those
occurrences have a direct bearing on
the question we are discussing. We re-
sumed specie payments in 1879, and, as
Mr.. Harvey himself stated, you cannot
get at the real changes occasioned by
the law until after we resumed specie
payment. By that time the high prices
had fallen off-that is. the nominal
prices-because the measure in which
they had been valued had been advanc-
ing all the while, not on account of any
change in the value of gold, but on ac-
count OF the paper money which We
were using as the measure constantly
approaching in value until it finally
reached par with gold. At that time
prices as compared with 1860 were as
1868 to 100 and wages were as 141.5 to
100, showing that the wage earners
were receiving much better pay-near-
ly so per cent-than they received in
1860. But the purchasing power of
wages was 1923 instead of 100, while
the average amount had increased from
100 in 1850 to 141.5. Now, labor was
better paid and men enjoyed the nee
essaries and comforts of life to an enor-
mOusly greater degree, notwithstand-
ing silver had at that time declined
from 100 to SAL Thus it will appear
that in 1890 all wages had risen from
100 to 1889, and the purchasing power
of wages had increased more than. Y
per cent
In 1870 the average of all prices was
1923; wages 1922, and the purchasing
power in greenbacks was 114.1.
In 1890 prices were 92.3, wages 1889,
and their purchasing power in gold
was 1921, showing that the wage earn
er for his days work got one and near
ly three-fourths as much of the things
he needed in 1890 as he could have got
in 1870.
Now what I ask you as I close my
first talk is this: Why did you select
your data from England and undertake
to base your argument upon English
prices when you could have found the
prices all tabulated and shown accu-
rately by a committee of your own
country, about articles which we are
using here in the United States?
Hard Times After 10.
Mr.. Harvey-The London price of
wheat affects the price of our wheat on
the Chicago market. In the official book
we have been using here from Wash
ington, entitled Coinage Laws, Appen-
dix and Statistics" there are three ta-
bles. One is the Sauerbeck table, one
the Sautbeer table, and the other the
Aldrich table. The Aldrich table is the
one he refers to as containing 249 arti-
cles. 1t was made by a senate COM
mittee of which Senator Aldrich was
chairman. He called to his aid prin-
cipally gold assistants. Unlike Sauer-
beck, they were not free from desire
to make as good a showing as they pos
sibly could for prices in the United
States. When it is known that Ed
ward Atkinson was one of the men who
assisted in making it Ghe report so
states) one can judge of the bias that
enters into it.
This man Atkinson has recently said
in an article published over his sig
nature in a Chicago newspaper that the
proper way to deal with a silver man is
to hit him over the head with a club.
This Aldrich report was made in 1891,
when the men making it supposed
prices had reached the lowest point
they would possibly go to. And yet it
shows a decline in prices of 80 per cent
below 1872 and per cent below the
prices Of 1860. Mr.. Horn has repeatedly
called you attention in this debate to a
new system of measuring property. 1t
Is a system that he calls the human
toll unit. 1t is a deceptive argument
1t is ridiculous to an intelligent man to
have this financial argument confused
with confusing proposition of the hui
man toll unit. Human toll sells its
services for medium of exchange
which it can exchange for the sub
stance and necessities of life And
can only reply to Mr.. Horr's argument
on that question in the language he
used to Mr.. Brown himself-that it is
so absurd as not to be considered sober.
1y.
Wants Fair Exchange Value in Money
The gold standard men are constant
ly pointing to the gold dollar as beins
worth 100 cents as measured in itself
of course it is. It is self-evident prop
osition, as measured in itself it i
worth 100 cents. What we want to con
slider is the exchan yea bIe value of mon
ey with property and the exchangeabl
value of property with money. An,
from these combined tables that ar
now part OF this debate you learn tina
lesson and you learn it in a way tina
no confused argument that can be pu
into the controversy can affect you.