The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-23

CHICAGO. July 22.-'Bacl1 dates"
were thrown to the dogs today in the
debate between Horr and Harvey. It
was more than ever a case of Greek
met Greek. and as the interested tug
of war heightened it was at once seen
that the days of PericIes as well as
1892. 1878 and other years. no matter
how historic or important, were all
barred more or less in favor of 1896.
Talks of the Ratio.
Horn opened with a written argu-
ment touching the impossibility OF
maintaining a fixed ratio between gold
and silver. As a result of experience,
he said. all civilized nations discarded
silver as a standard money. 1t was
useless to exploit the lone tables OF
ratios to show whether double
standard could be maintained The
world had pronounced against silver.
Harvey said he had been called on
by letters and kilograms to give state
ments by Blaine, ingalls, and others
concerning the demOnetiz act. He
said words at his disposal in debate
would not admit of it. Taking up
Horr's eulogy of Senator Morrill,, deliv-
cred Saturday, he charged that Nor
rill erred in saying no silver dollar
had been coined for forty years prior
to 1873. Harvey read from the report
of the director of the mint, showing
that silver dollars to a greater or less
amount had been coined nearly every
year. The fact was that Morrill, was
a bank stakeholder, with bank stock
holders prejudices. He called on Horn
to explain.
Horr Explains.
Horr said that Morrill, had not meant
to say that not a dollar had been.
coined, but none to speak of had been.
At most, it could be said Morrill, had
made a mistake. Harvey in his book
had made a bad mistake in stating the
amount of silver coined during the life
of the government. Mr.. Horn declared
the insinuatiOn that because Judge
Morrill, was an owner of bank stock.
he was not believed, to be too con-
temptible for consideration.
Mr.. Harvey said that in raising the
point of coinage of silver prior TO 1873
he wanted to establish a fact in histo-
~ which had been obScured by false
statements that such coinage had not
taken place. He wanted to make this
answer in the presence of the gold
men. Proceeding, Mr.. Harvey said
he did not mean to reflect on any
mans integrity because he was a bank
stockholder. He merely wanted to show
that men were swerved in their ex-
preston of facts by their interests.
Scientific BimetaIIism.
Mr. Harvey then defined scientific
bimetalliSm to be the free coinage Of
gold and silver at an assumed ratio; a
change in the size of the metallic dol
and silver should require, the option
to the individual. and the govern
ment to pay in the cheaper metal
He held that under these conditions
silver would not depreciate because
there would be an unlimited demand at
the ratio fixed by law, and no man
would sell his bullion below the price
at which he could have it coined. Mr.
submitted a table to show that
from 1867 to 1878 the commercial ratio
had remained remarkably close to the
legal ratio, notwithstanding the de-
of it by England and an
other of the great nations Of the old
world.
Mr.. Horn said this matter Of ratio
has little or nothing to do with the
question. The fact was that all the
civilized nations of the world refused
to recognize silver except at its bull
lion value. For US TO attempt freq
coinage alone was not the matter.
\ DOdGer.
Mr.. Hoor then took the propositions
of Mr. Harvey's book that making the
dollar one-half the present value would
double the value of everything IN the
United States except debts. Mr.. Horr
this absurd. saying we
might as we'll say that if we cut our
ward sticks in two it would double
the amount of cloth in the country.
He said Mr. Harvey seemed to be
i'stuck on sweet '16 TO l." In his
book he proposed to keep metal value
at a parity by reducing the amount
Of gold in the gold dollar. Carried TO
it's legitimate results, the ratio would
become 10 to u or 80 to 1.
Mr.. Harvey proceeded to argue that
both gold and silver were the measure
Of values until 1873. Referring to the
cutting of the yardstick in two Mr.
said that the gold men had
doubled the yard stick in 1878. He
destroyed, the value of the gold dollar
would not be doubled.
shook His Locks.
II. Horr shook his head. Mr.. Har-
veJ- SAID he would illustrate it in an
other way which the farmers would
If half the wheat crop
in the United States were destroyed
would not the price of wheat on the
board of trade be doubled?
In demonetizing silver in 1873. the gold
Of the yardstick had been doubled
The friends of silver were merely ask
ng for the restoration Of the measure
by readmitting silver to coinage.
Mr.. Horr, in reply to the charge that
The demonstration of silver cut the
value of products in two said that if
that were true, prices would have at
once dropped so per cent. The fact
was that they did not. If the destruc-
ton of half the wheat crop would
raise prices four fold the demonetiza-
ton of silver did not destroy it.
Returning TO the attack, Mr.. Horn
said that Mr.. Harvey did not care for
ratio. What he wanted was a. cheap
lolIar. and the. -.l,aa roorni,,er ~ -.