Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1895-07-25
NO47.
zee HoRR.HARvnY DEBATE
Primary Money as q Measure Of Value Dis
auaaad.


Primary Money as q Measure Of Value Dis
cuSSed.
CHICAGO, July 24.--In the Horr-Har.
vey debate on the sixth day Mr.. Har-
vey returned to his argument on BIZ
metallism. He declared that all ma
ture was bimetallic Man had two
legs, two arms, two eyes, two ears.
Mr.. Harvey then went back to the dis
cussion Of primary money as measure
Of values In 1887. he declared, all tho
money In circulation was elGss peP
capita, and In 1879 II was S19 10 per
capita, and In those times all money
was primary money, the measure
Of values being paper money ITSELF
In 1894 we had q per capita
circulation Of S9A9a he then
said: "NOw, you will al cay that
the quantity Of money In circulation
Affects pEioah You have more m0u0y,,
primary and credit combined, Ia
circulation In 1894, per capita, thGn
you had In the two years named
previous TO 1873, and yet prices were
higher then than now. Why? Be.
cause there was moro primary money
per capita In circulation st the two
frat named years than there Ia in tho
last named year, 1894. OF the S94 per
capita In circulation Of all money In
1894, only about 90 Is primary money,
while in 1867 and 1879 there was Sl8
primary money In circulation per cap
ita."
Mr.. Horr said Mr.. Harvey's definition
Of primary money was money Of re-
demption. Greenbaclrs had to be re-
deemed to make them good, and they
could not, by any hook or crook, be
construed into primary money. Mr..
Horr then said: NOW, in 1879, we did
return to specie payment, we did mako
our greenbacks and all our money us
good as the best, and Brother Harvey
and his whole crowd of followers and
adherents were going up and down this
country stating that if we undertook
to enforce that act we would ruin the
business of the country. l know they
said it, because heard them do so.
They believed it, just as Harvey does
now"
Mr.. Harvey: "You did not hear me
say it."
Mr.. Horn: swell, if you were old
enough you did say it. A man consti-
tuted as you are could not have said
anything else"
Mr.. Harvey denied that Mr. Horn
was justified in calling him green
hacker, and said that he believed in
gold and silver as primary money, to
the fullest extent under the bimetallic
laws that governed 1t prior to 1878. In
relation to the claim of Mr.. Horr that all
the civilized nations OF the earth were
in favor of the gold standard. Mr.
Harvey said that all the civilized
nations of the earth were at one time
slave holding nations and the individ-
ual slave holder had made precisely
the argument advanced by Mr.. Horr.
He then went back to credit and re-
demption money, and declared that
credit money may be issued
by the government, with safety,
only in such quantities as
Will uOb eI1DhEThSS ~ Al ChoC run
is made on the government for re-
demption. If the government requires
redemption money 1t can float bonds
among its own people to the full
amount necessary to obtain what pri-
mary money it needs.
No government should ever borrow
from the people of another nation
To do so was a confession Of mon
etary weakness No government, he
declared, should issue credit money
in quantities beyond the amount
of primary money among its own
people, and it should have no money in
the treasury except for its current ex-
penses and improvements. The money
should be among the people.
This closed the debate yesterday,
and an adjournment was taken until
Thursday.