The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-23
DEBATE OF H0RR AND HARVEY.
ONLY 81 PERSONS PRESENT TO
HEAR THEM TALK.

the Figures in HurNcy's hook ANA
Declares Them as Defective as
Their Authors Veracity-The Metal
Value OF cold.
Copyright. 1895. by Azel Hatch.
Chicago. July 22.-Although the weather
was cool and pleasant to-day the attend
ancc al the Horr- Harvey debate was much
smaller than on Saturday. There was just
90 persons present. Mr.. Horr re-opened the
subject for the first time since the open
ing of the debate reading from manu-
script. During the nineteenth century all
the great countries had adopted a gold
standard. but had not discarded silver.
However. none of them had opened their
miuts 20 silver. He then dropped into the
history of finance in France and was still
talking Of il when interrupted by the bell.
Mr.. Harvey said he had had many re-
quests 10 put in the record the utterances
OF Messrs. Ingalls,. Blackburn and others
on the subject of finance but owing TO the
limited number of words at his disposition
he could not promise to do So However,
he would probably mention them in his 2.
900 word summary at the end of his part
Of the debate. An attack on Senator Nor
riu followed. He was not careful of the
truth. said Mr. Harvey, when he stated
that no silver dollars had been coined for
many years prior to 1873. Copies of the re-
port of the mints for several years previous
10 1873 were here submitted, showing that
several millions of dollars in silver had
been coined in those periods.
Now. said the author of Coin, if Senator
Morrill, could not tell the truth in one
particular l have a right TO assume that
he could tell it in any.
Mr. Horr warmly defended Senator
Morrill,. He said: when Senator Nor
rill made the assertion that there mad
been no silver dollars coined for many
{ years prior TO 1873. he did not mean to
be taken literally. He meant that by
/ comparison 10 the amount of gold coined
( there had been practically none coined,
! and that is true AIr. Harvey has a way
/ do not like of trying TO smirch the
/ character Of everybody who differs from
/ him m his opinion. Mr.. Harvey admits
| that he made one bad misstatement in
his book and. according to his method
| of argument, l have a right to assume
! that he is wrong in everything"
Mr.. Harvey turned to the discussion Of
/ bimetallism. taking up first that branch
! of it relating to unlimited coinage, and
went inao the history of the matter
| among other nations.
1t makes no difference. said Mr.. Horr,
what the history of unlimited coinage is.
1t is admitted on every hand that all ma
/ tions have now closed their mints to sill
yer, and that is the main point.
Mr.. Horr quoted from Mr.. Harvey 5
/ book that The objection to Independent
/ bimetallism is that the parity between the
/ two metals cannot be maintained at our
ratio of 16 to l, that is p 3-10 grains Of
gold in the gold dollar will be worth more
than the 37lA grains of silver in the silver
dollar, and with silver remonetized AMI
a just and equitable standard of values,
] we can, if necessary, by act of congress,
/ reduce the number of grains in a gold
dollar till it is the same value as the sill
Yer dollar. We can exchange the prem
ium out of gold He asked what be-
! comes of Mr.. Harvey's 16 to l ratio? That
is what he virtually says The gold dol
lar may be cut down if need be so that
the ratio shall be 16 to r. His mathe-
| mates, however, are as defective as his
veracty Mathema tically, 16 to u is the
same as 80 to /; so it is not the ratio he
cares about.
deny that the two metals can be kept
in circulation at a fixed ratio. 1 have not
said that for they can be, as they have
been in this country. l know they have
attempted 10 make you believe that there
was no gold in circulation IN this country
or seeking the mints after 1850, but both
were MISREPRESENTATION Mr.. HOrr flies
in the face of history when he says that
silver was not used prior to 1873 as
measure of value. Silver was the unit
coinage system regulating the size of
the gold coins, but, the two together
were the measure of values and was what
we mean by the double standard. Mr..
] .fr,fr I hav~ -nfA
before and then adds cut the yard stick
half in two and it will make twice as many
yards of clothing in the world Now, in
1873 yod doubted the length of the yard
stick. (Applause)
Suppose one-haIf of the gold in the
world were destroyed tomorrow beyond
recovkry, would not the gold dollars
that were left be twice as valuable as they
were before? Mr.. Horr is not a bad pu-
pil and shakes his head. So that, when
YOU destroyed one-half of the redemp-
ton money in 1873 you doubled the value
of the money that was left. You can see
no harm in destroying the price of
mans property cutting the price of his
property half in two but your eyes are
wide open when any man proposes to give
up with YOU by proposing to cut the
gold dollar half in two. We do not wish
to do that either: We wish to put back
in the coinage system the money that
YOU QemOneLlZeQ IN 1910 AAppid uSt.J
Mr. Horr. 1T is possible that Mr.. Har-
vey believes that the act of 1873, when
il demonetized silver. cut the price Of
the property of the world in two, and
that prices Immediately dropped 80 per
cent. l was around the world in 1873,
and I know that did not take place and
he knows it, You destroy one-half Of the
wheat in the world and the chances are
that YOU will have increased the value
of wheat probably four times But wheat
is an article that people consume from the
year. or after a short time Cold has
been accumulating for ages, and If you
should destroy the primary quality, or
half the gold in the world, you would
not change the price of the metal one
half AS soon as the price would go up
there is an enormous store laid away all
over the entire world that was used for
money purposes that would a once seek
the channels and be coined into money
and take thg place Of the money that had
been destroyed"
Referring 10 his previous quotations
from Mr. Harveys book, Mr.. Horr sid he
read them for the purpose OF getting at
what che author desires 20 reach by the
IN a.