The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-24

,---..s.1 - qaansi.y rhrss tires tu-.rg
rhsf ueras E-ld hsd only do1o-ea q
Quautity-
Nr HarVey went h4rk 70 the discussion
% p~frnary rBoncy as a measure - vA-a~s.
IN rsg- - declared. al thA money IN err
cul.aEon was ylSS per caTstta. and n ~
Il was fss = pcr capita. and IN those times
al -,arsv wss primary money ne -ssas-
ure % value bslng paG~r money itssf- ~
fsgs ne ha1 q pr capita ctrru.af'on 81
p41 he taen sad Now you WI al
sav that ths quantity OF money IN circl-
lation are~S prices. You had more
-,orav urinary snA credit combined. IN
cirrulats0n in iss& per capita than you hai
in the two wears named previous 10 1913 and
vet prices we're higher than now. WhyY
Recspse there was more primary money
rar cs1lta IN circulation in tae hrst Two
ran,a.i wears than there Is in the last
paued year. fSa4 or the 81 per -apita n
circulation. % al money IN 1894 oE.y ABOUT
& Vas primary money. while in 1861 and
49, there were Ss primary fsfoney IN r
c,gIation per capita.
Nr Horr said Mr.. Hsrvey's definition 81
urinary money was money Of redemption
C;rasuhscks had TO be redeemed TO make
them good and they cannot by any HOOK
or crook he construed into primary money.
Mr. Horr then said: Now. in 1873 We did
return 10 specie payment. We did make
our greenbacks and all our money as good
a. the hest. and Brother Harvey and his
whole crowd Of followers and adherents
were going up and down this country
stating that il we undertook 10 enforce
that act we would ruin the business OF
the country ! know they said II. because
7 hea rt, them do So They believed II. Just
as Mr.. Harvey does now"
Mr.. Harvey-Fou dld not hear me say ii
Mr.. Horr-Hell IL you were old enough
you did say II. man constituted as you
are could not have said anything else.
Mr.. Horr declared thai the stuff" he
was preaching. as il had been denominated
hv Mr.. Harvey. was upheld by every CIV
ilized nation on earth. and that only such
countries as China, Mexico and Japan IA
vored the silver standard
Mr. Harvey denied that Mr.. Horr was
justified in calling him greenbacker, and
said he believed IN gold and silver as pri-
mary money 10 the fullest extent under
the bi-metallic laws that governed IL
prior TO 1873. In relation TO the claim of
A.r Horr that all the civilized nations
of the earth were in favor OF the gold
standard. Mr. Harvey said all the civil
izei nations OF the earth were at one
time slave holding nations. and the fndi-
vidual Shareholder made precisely the
same argument advanced by Mr.. Horn
He then went back TO credit and redemp-
ton money, ana oecidfed th1t cfeit
money may be Issued By the government
with safety only in such quantities as will
not enlbarrass Il in case a run is made
on the government for redemption. IL the
government requires redemption money
it can float bonds among its own people
10 the full amount necessary 10 obtain
what primary money il needs. No gov
ernment should ever borrow from another
nation. To do so was a confession of
monetary weakness. No government. he
declared. should issue credit money IN
quantities beyond the amount of primary
money among its own people, but IL should
have no money in the treasury except for
its current expenses and improvements.
The money should be among the people.
This closed the debate for the day, and
an adjournment was taken until Thurs
uay