The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1895-07-17
DEBATE VERY SPIRITED
GOLD AND SILVER MEN ARE EN-
GAGED IN A GREAT BATTLE.


Money to the Fullest Extent That Can be
Done on Sound Business Principles.
Chicago, July 16.-There began this |
afternoon at o'clock at the Illinois
club what promises to be one of the
most noteworthy forensic battles ever
fought. The issue is gold or silver for
the national currency and the champion
of the one Is Roswell G. Horr Of Mfchi-
gan; Of the other W. H. Harvey of
Chicago Of Coins Financial School
game. The debate. which will be de-
livered in chunks of about 1000 words
each, is expected to continue eight days.
TO the upholders Of the yellow metal
the privilege Of opening was granted
according to agreement. Mr.. Horr was
obliged to confine his preliminary ar
guments to 1000 words and was answer
ed by Mr.. Harvey to the same extent.
Then the Michigan congressman replied
and was again followed by the ex-
pounder of free coin. After this both
men stood ready to answer any question
which might be propounded to them
by members of the audience. The de-
bate took place in the assembly room
of the Illinois club, The room was fit
ted up like small anphitheatre, but
there were seats for only 200 persons,
But little more than one hundred
persons were present. Among them
were Congressman Sfbley of Pennsyl-
vania, a leader of the free silver forces
in the east; A. B. Humphrey, secretary
of the National League of Republican
clubs; w. w. Meagher of the Bimetal1ic
league, and Lyman J. Gage.
DR.. Homer Thomas, president of the
Illinois club, called the assemblage to
order. He introduced Hon. H. g. Mil
Ter and ex-Judge w. A. Vincent, both
of Chicago, who, he said. would be
Judges and at the conclusion of the
controversy decide who had the better
of debate. Mr.. Miller stated that the
whole discussion was copyrighted by
IA. F. Hatch.
The debate was very spirited and
both speakers several times had hard
work to preserve their tempers. In his
opening remarks ex-Congressman Horr
in part said: "The foundation of the
discussion Of which we are about to
enter is book published by Mr.. Far
vey, entitled "Coin's Financial School,"
The aim and object Of that book is to
Y
rnent alone should at once enter upon
the free and unlimited coinage of silver
upon the ratio Of i6 to l.
.s..I will state that from the beginning
to the end Of the book there is hardly
a proposition made to which I give
my assent. do not remember ever to
have examined book carefully In
which + found so few statements that
1 consider worthy OF belief, and I GER
tainly never saw SO many absolute err
rors crammed into few pages. I am
not an opponent Of btmetallism. be-
1ieve In the use of gold and silver as
money to the fullest extent that can
be done on sound business principles. I
have always entertained the hope that
the business men of the world would
yet come together in an International
convention and agree upon some basis
whereby gold and silver can be used
as the money of final settlement among
the people Of the entire world.
."I do not believe any one government
can name a ratio acceptable by the peo-
pie of the world. If our nation alone
should attempt any such action 1t would
simply place our country upon a. silver
basis and the attempt would end in sill
ver monometallisrn.
''If we are compelled to decide be-
TWEEN gold recommendation and silver
monometallism then I am decidedly ira
favor of adopting the standard used by
the civilized nations of the world. I
do not believe in the teachings of this
book that the nation is on the verge of
financial ruin, or that starvation is star
ing us In the face. I believe If our MA
tion would adopt the course advocated
Ut would seriously injure the entire wage
earners Of the United States. / be-
lieve we would destroy wage earners of
the United States. I believe we would
destroy the confidence of the business
men Of the world in our integrity as q
nation, and we would precipitate such
q, panic as our country has never seen.
IT shall attempt to prove that this
book is devoid of business sense from
beginning to end"
In his opening remarks Mr.. Harvey,
in substance said:
IT am here to defend the facts and
principles to Coins Financial School,
I expect to make good the following
propositions.
1-That the silver dollar was the unit
of value in our coinage system from 1892
to 1873; that gold was measured in this
silver unit and concurrent coinage given
to it gold; that gold and silver COM
bined constituted the legal standard of
value in this country till 1873
2-That the act of 1873 was surreptf-
tiously passed.
3-That during the period of 1792-1S73
the nlinl.s were open to unlimited COIN
age Of both metals into primary or re-
demption money, and that the option
was with the debtor to pay in coins of
either metal.
THAT this binletallic system in
creased the demand for those metals,
and so long as this law was in force
no one was willing to sell either dollar
coin for less than dollar.
5-That the option to pay in either
metal transferred the demand from the
dearer TO the cheaper metal. and re-
stored It's relative commercial value.
e-That It is to the interest of the
United States to act Independently in
the reconciliation of silver at the ra-
tic of 16 to l.
THAT monometallism consists In
the use of the dearer of the two metals
to the exclusion of the other as primary
property or redemption money.
9-That the decline In prices COW