Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-08-06
at.1|R and ! | H h R
The War Of Words on the Silver.
H. Question Continues at ...
Chicago. Is z s..=s
Ho1r and Harvey Give Each Other
Some Hard Nuts to IS.
Crack.

Chicago July "a. "Dack dates" were
thrown to the dogs to-day In the debate
between Horr and Harvey. It vas .aore
than ever a case Of Greek meets Greek,
and interest in the tug-of-war heightened
ut once when 1t was seen that the days OF
Periclcs az well as 1902, 1876, 1873 and
other years, no matter how historic or I'M
portant. were all barred more or less in
favor Of 1905. ..,. - -.
Mr.. Horr opened the dispute with writ
maintaining Axed rule between god aid
silver Mr.. Harvey charged that Senator
Morrill, erred In saying that no silver dol
lars had been coined for forty years prior
to 1873. Mr.. Harvey read from the report
Of the director Of the mint, showing that
silver dollars In greater Or less amounts
had been coined nearly every year. p
Mr.. Herr said that Mr.. Mor,All had not
meant to say that a dollar had beell
coined, but that none to speak Of had been.
Mr.. Harvey submitted a table to show
that, from 1857 up to 1873 the commercial
ratio had remained remarkably close to the
legal ratio, notwithstanding the demonetiza-
ton Of 1t by England and another of the
great nations Of the old world.
Mr.. Horr said this matter of ratio had
little or nothing to do with the question.
The fact was that all of the civilized ia.
lions Of the world refused to recognize sill
yer and would only receive it at its bullion
taAue, measured III SOIO. nat mtSnC DC
II tue other nations should join In admitting
silver to free coinage was one thing; for
US to attempt it alone was another.
Mr.. Horn then took up the proposition
OF Mr.. Harvey's book, that making a dollar
OF one-half the present value would double
the value OF everything In the United States
except debts. Mr.. Horr pronounced this
apsurd' saying We might as well say that
X we cut our yardsticks in two 1t would
double the amount Of cloth in the country.
Mt. Harvey argued that both gold and
silver were the measures Of value until
1873. He asked whether. If half the gold in
the world were destroyed the valAe Of the
gold dollar would not he doubled.
Mr.. Horr shook his head.
Readmitting silver to Coinage.
Mr.. Horr, IN reply to the charge that the
demonetizntion of silver cut the value Of
products In two, said that II that were true
prices would at once have dropped 70 per
cent The fact was that. they did not
Mr. Horr said that Mr.. Harvey did not care
Tor ratio What he wanted was n cheap
dollar and the cheapenlng of the emolu-
ments of labor. That was the most pros
porous country In which it's workmen were
best paid
Mr.. Horr said it was in 1879 that we re-
sumed specie payments, and the only mon-
ey OF hnal redemption was gold. He asked
was distress abroad In the land from that
on! The fact Is, the years from 1870 to
1872 found our people better employed and
Mt better wages than in any other same
number of years since the government was
formed. <Applause.)
Mr.. Harvey: "As to the prosperity of
this country between 1870 and 1892, YOU
could not break down a great nation like
this In one year A change in relative
production had no effect as long as tho
minis were open to the two metals" ZAP
plause)
Mr.. Horr: II have never said that the
cheap price OF silver was not on account of
Its overproduction. Silver has become
cheap In this world just precisely the same
as wheat and iron and zinc and lead and
other articles have been cheapened.' Just
precisely Tor the same reason. applause }
All OF these articles have been cheapened
oy the natural laws which govern the
production of every substance know to the
producers In the world''
goldy'.
Mr.. Horr: "Gold the same. I am glad
you asked me. Gold has deprecated in
value In less than 100 years 80 per cent.
1t Is cheaper now than it was in 1874.
What find fault with is that the silver
men invariably leave out Of their calcula-
lions this article of labor, and the article
OF labor Is the greatest article known in
the civilized world. Cut down the pay of
labor and You paralyze the entire business
of any nation.
Mr.: Harvey: "Mr. Horn says that every.
thing has been cheapened, including gold,
To say that gold and products cheaper
stimuli taneOusly is Il financial contradiction
You buy gold by exchanging ether property
for 1t. When 1t takes more property to
buy gold than formerly gold has .isen In
stead Of becoming cheaper, gold has be-
come dearer. That Is the case now And
VET. Mr. Horn hV 2nnhiStrv %hot
1t has become cheaper. He says 10 the
laboring man: You can buy more with a
gold dollar now than you ever could, and
then turns to, you and says that gold is
growing cheaper all the time.''-
This ended the debate for the day.
Settled by Sherman,
Mansfield, Ohio, July 22.-In the Harvey.
Horr debate at Chicago on, Saturday Mr..
HOrr said there was q provision in tho NOT
Of 1873 for 3s4-grain dollar worth five
francs, which was afterwards struck ont
In the senate before the bill was ~nassed
Mr.. Harvey denied that it was struck ont
by the senate and said that IL 1t were 40
he would stop the debate. right there. In
an interview to-day Senator Sherman stated
that this provision was added to the bill
after it reached the house at the instiga.
tion OF the citizens of California, who pro.
duce both gold and silver, but that It was
struck out when the bill reached the sem
ate. Mr. Sherman also disputed number
of Mr.. Harvey's statements.
Chicago, July 25.-The sea Ing capacity
Of the rooms Of the Illinois club was all
taken up when the HOrr-IIarvey debate
opened to-day. While the size Of the rooms
do not permit a large audience, the officers
of the club are compelled every day to re-
fuse many applications for seats.
The days talk was opened by Mr.. Har-
vey. He said that the debate of the last
session was Of value as showing that dur
Ing the last forty years silver had been
steadily coined In spite of the assertion to
the contrary; that by the table copied from
the reports of the minis, the commercial
ratio between gold and silver had been
maintained ut about the French coinage
ratio of 1914 to 1 for 200 years; that during
the twenty-five years since 1873, as the re-
suit OF the decentralization. the commercial
ratio had declined to 80 to L; that In the
3SS years prior to 1873 the quantity or ratio
between gold and silver had ranged from
Sc Of silver to 1 Of gold, to 4 OF silver to /
OF gold, and that during all that time the
commercial ratio had chung closely to the
legal ratio. During all that time the COM
4 merclal price Of silver bullion u had re
q manned steady. Since 1871 II had steadily
! and rapidly decreased. 1T was the dom.
mating influence of London exchange to
NIL parts of the world which led to- gold
: being recognized by the world az the
standard In all commercial transactions
Mr.. IIorr, In his opening remarks, pros
/ ceededato call attention to what he called
misleading statements IN Nj. Haryey.s
3 book. For instance, he declared to be
/ that the cost Of producing Allof the gold 81
the world was about 81 per ounce, while;
some put II much higher. y Mr.. Horr puinted.