Waterbury evening Democrat., 1895-07-30
THE DEBATE ENDS.
ATessrs. Harvey and Horr Finish Their Tei
 Ilnya. Argument.

 ATessrs. Harvey and Horr Finish Their Tel
 Days' Argument.
 CHICkGo, July S0 Tho last day of Eho Horr- Harvey debate opened with ap at tack directed at the question of the teasi- bility of Independent action by the Unit ed States for the remonetization of silver and it's free and unlimited coinage at @ ra- tio of Is to 1, regardless of the acts of oth- or nations, Mir. Harvey arguing for such action and Mir. Horr against it. Mir. Harvey presented n table showing the coinage of gold and silver from 17o2 to 1873. He did this to show that gold did not seek the hints for the first 50 years of | the nation and that silver did not from that time till 1873
 Mr Horr declared 1t was useless to try to fix the relative value of any two sub- stances by legislation. The law of supply and demand stepped in there, and the his l tory of the worlds legislation showed that it was impossible to maintain fixed ra- i tio between the precious metals. Mir. Harvey said that gold was irregular | ly produced and was boarded by the few rich. Silver on the contrary, when more valuable than gold, was hoarded by the mass of the people, thereby conferring a general benefit. It was for this reason that | silver had been a more stable metal in the past than gold. .-.s--7 | Referring to Mir. Harvey's statement that the remonetization of silver would reduce debts by one-half, Mir. Horr said l that by far the largest part of the debts in the United States were less than one year | old. The short time debts were contracted under the existing gold basis, and to re- | duce them one half would be to repudiate tAat one-half. Mir. Harvey said that the gold advocates feared that debts contract T man who had stipulated to pay gold would have to buy it at a premium. This was fallacious.
 l If at the next general election bime- tallic congress should be elected, the Rubi- con would be passed the next day. Silver would at once begin to appreciate and gold to depreciate, but it would be at a parity before the meeting of congress.
 MT. Horr, resuming his argument after 0 little badinage, said that the savings bank depositors had $1, 712, ,000, GOO on de- posit which it was proposed to cut in two. Building and loan associations had i, 725, 900 depositors, with an aggregate of $525, S52, 900 due them, In addition to these were the trust companies, life insurance companies and state banks, all of which were to be allowed to pay in depreciated money.
 Turning to Mir. Harvey, he said he | wanted to reciprOcate the courtesy Of MT. Harvey in presenting him Mir Horr) with a silver dollar. MT. Horr said he pro- posed to present MT. Harvey two coins of two different metals, because MT. Harvey was bimetallist. Mir. Horr then handed over two Chinese coins-one of silver, worth 20 cents, and one of copper, worth one mill-and proceeded to say that the ! nation which struck these coins had a sil. yer standard. Its laborers were paid & per month; its people did not ride in car riages; its civilization had gone to sleep The silver coin presented him by MT. Har- vey was struck by progressive nation. Il did very well then, but the growth of civ. ilization and commerce had since demand ed a change in the standard. That stand ard should be gold.
 Mr. Harvey, rising for his closing ad dress, said he accepted the present from MT. Horr of the Chinese coins. He object cd, however, to the references of MT. HorI to the silver coin. The United States wSE the chief producer of silver. Until 1873 il was the most sacred metal of our coinage it was the measure of all values. In 1875 it was struck down as Caesar was-by tho dagger of an assassin.
 | In closing Mir. Harvey denounced tho president s, foreign and financial policy and declared that the friends of silver were fighting the battle of the people tho world over. He declared that a second declaration of independence in the United States was needed.
 It should be said that the attendance al the session of the discussion was by card only and was limited to the capacity o the hall, which was about 200. This space was generally fully occupied.